Income Tax Returns, PAN, Foreign Assets Details mandatory for Lok Sabha Election Candidates : Notification

By | February 27, 2019

Income Tax Returns, PAN, Foreign Assets Details mandatory for Lok Sabha Election Candidates   The Government, in order to bring more accountability and transparency in the election process and to make easy verification of the candidates details, mandated that the candidates of election shall declare their income tax returns of the last five years, details… Read More »

Draft Drugs and Cosmetics (Amendment) Rules 2019.

By | February 27, 2019

MINISTRY OF HEALTH AND FAMILY WELFARE(Department of Health and Family Welfare)NOTIFICATIONNew Delhi, the 26th February, 2019 G.S.R. 152(E).—The following draft of certain rules further to amend the Drugs and Cosmetics Rules, 1945, which the Central Government proposes to make, in exercise of the powers conferred by sub-section (1) of section 12 and sub-section (1) of… Read More »

No IGST Exemption to OEM suppliers of imported Scientific equipment even if supplied to science education & research Institute:AAR

By | February 27, 2019

Notification No. 51/1996-Customs, dated 23-7-1996 read with Notification No. 43/2017-Customs, dated 30-6-2017 and Minutes of 14th GST Council decision dated 18th/19th May, 2017  is applicable to the Applicant for import of  Equipment as listed under column (3) of the aforesaid notifications and notifications are not applicable to the OEM suppliers of imported equipment. AUTHORITY FOR… Read More »

New GST News 27.02.2019

By | February 27, 2019

New GST News 27.02.2019 Input Tax Credit How to Reverse Incorrect Input Tax Credit ? GSTN Suggested ITC utilization on GST Portal Can you pay Tax & Penalty from ITC Ledger for non-generation of Eway Bill Eway Bill How to Draft Contract with Transporter for E way Bill No E Way bill required for goods… Read More »

Companies Compliance Due Dates 2019

By | February 27, 2019

Companies Compliance Chart   S.No. Forms Applicability & Purpose Due Date Remarks Penalty /Late Fees 1. E-form – INC-22A (Active Company Tagging Identities and Verification) Every company incorporated on or before 31st of  December, 2017 for filing particulars of the company and registered office with MCA On or before 25th April, 2019 (Notification dt. 21st February, 2019 & applicable… Read More »

Indian Currency carry Limit for Nepal & Bhutan for Rs 200 and Rs 500 Notified by RBI : Notification

By | February 27, 2019

RESERVE BANK OF INDIA (Foreign Exchange Department) (CENTRAL OFFICE) NOTIFICATION Mumbai, the 26th February, 2019 Foreign Exchange Management (Export and import of Currency) (Amendment) Regulations, 2019 G.S.R. 151(E).—In exercise of the powers conferred by clause (g) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999),… Read More »

No Income Tax on addition on because of frequent withdrawal and deposit of own money in Bank Account : ITAT

By | February 26, 2019

ITAT Lucknow DCIT Vs Smt. Veena Awasthi   ITA No.215/LKW/2016 Date of Order : 30/11/2018 This appeal preferred by the Revenue emanates from the order of ld. CIT(A)-I, Lucknow dated 29/1/2016 as per following grounds of appeal:- 1. On the facts and circumstances of the case, the Ld. CIT(A) has erred in deleting the addition of… Read More »