Communication with the Retiring Auditor through E-mail The members have raised concerns that during the period of ongoing lockdown, it is not possible for the Incoming Auditor to communicate with the Retiring Auditor through the mode(s) of communication permissible in terms of provisions of Code of Ethics. The existing Code of Ethics, 2009 , provides,… Read More »
No Capital Gain Tax on amount received by Partner on reduction in Profit Sharing Ratio : ITAT we hold that the compensation received by the assessee from existing partners for reduction in profit sharing ratio would not tantamount to Capital Gains chargeable to tax u/s 45(1). Therefore, by deleting the impugned addition, we allow the… Read More »
Delayed Payment of Employee EPF allowed if paid before filing ITR u/s 139 : SC Supreme Court has dismissed SLP of Income Tax Department against following decision. If PF/EPF/CPF/GPF etc., if paid after due date under the respective Act but before filing of the return of income under Section 139(1) of the IT Act, the… Read More »
TDS on Guarantee money will apply even if Cricket Match not played in India : SC In the present case, the Non-resident Sports Associations had participated in the event, where cricket teams of these Associations had played various matches in the country. Though the payments were described as Guarantee Money, they were intricately connected with… Read More »
SLP dismissed due to having low tax effect : SC SLP dismissed SUPREME COURT OF INDIA Commissioner of Income-tax, Central-I v. Ansal Housing And Construction Ltd. A. M. KHANWILKAR, HEMANT GUPTA AND DINESH MAHESHWARI, JJ. SPECIAL LEAVE TO APPEAL (C) NO(S). 8590 OF 2014 JANUARY 21, 2020 Arijit Prasad, Sr. Adv., Syed Abdul Haseeb, Adv., Mrs. Anil Katiyar, AOR and B.V.… Read More »
Reduction in Incentive by Govt by Subsequent Notification not covered by promissory estoppel: SC SUPREME COURT OF INDIA Union of India v. V.V.F. Ltd. ARUN MISHRA, M.R. SHAH AND B.R. GAVAI, JJ. CIVIL APPEAL NOS. 2256-2263 OF 2020 APRIL 22, 2020 JUDGMENT M.R. Shah, J. – Leave granted in all the special leave petitions. Civil Appeals @ SLP ©… Read More »
GST PMT 9 Filing I New GST Notification I Transfer GST in eCash Ledger on GST Portal CA Satbir Singh