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30 September 2014

CBDT amends Rule to prescribe Form No 13

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No deduction of tax certificate u/s 197 - CBDT amends Rule to prescribe Form No 13 CBDT amends rule 28AA to provide issue of nil TDS c...
29 September 2014

MEF Update...

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MEF Update... List of applicants who have submitted their MEF online but declaration is yet to be received from them. This list is  availab...
26 September 2014

Breaking news: CBDT issues Press release to extend due date to 30th November.

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In Compliance with Gujarat High Court decision, CBDT extended the due date for furnishing return of income from 30th September to 30th Novem...

CBEC on Service Tax on Joint Ventures

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FinMin clears air on service tax levy on joint ventures The Finance Ministry has made it clear that "taxable services" p...

National Taxation Tribunal law is unconstitutional, rules apex court

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  National Taxation Tribunal law is unconstitutional, rules apex court Terms it the ultimate encroachment on the exclu...
25 September 2014

National tax tribunal unconstitutional

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SC: Substantial questions of law to be decided only by superior crts. Basic structure of the constitution has been violated.  SC: NTT is no...
24 September 2014

EXTENSION OF DUE DATE : STATUS OF VARIOUS COURT

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EXTENSION OF DUE DATE : STATUS OF VARIOUS COURT Madras High Court Hearing today. Madras High Court directs CBDT to Extend Due Date of fil...
23 September 2014

Delhi High Court tax Audit case update

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LATEST & Most Awaited News from Delhi High Court in case of Mahesh Kr & Co. Vs UOI  & ors WP 5990/14 reg issue of furnishing Tax...
22 September 2014

Gujarat High Court date extension issue

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Gujarat High Court directs CBDT to extend due date for filing of ITR to 30-11-2014 subject to Sec. 234A interest The CBDT vide Order [...

Gujarat HC tax audit verdict

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Gujarat HC asks CBDT to extend due date of ITR to 30th Nov. However,  234A will be applicable. More details awaited.

Gujarat High Court tax Audit update

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Guj HCs Remark that TAR is mini Asst & is must before filing of ITR is the Moot point which the HC has Extracted, & that point will ...
20 September 2014

RBI eases FDI norms on issue of equity shares

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The Reserve Bank of India (RBI) has eased foreign direct investment (FDI) norms, allowing Indian companies to issue shares/convertible...
19 September 2014

Tax Audit Delhi High Court update

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Delhi High Court once again Adjourned the Tax Audit Deferment case to Monday. Court ask cbdt to file an affidavit that no penal provision an...
18 September 2014

Tax Audit Deferment case with Delhi High Court update

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Tax Audit Deferment case with Delhi High Court. Court asked the CBDT for revenue losses in case ITR date extended to 31st Oct. CBDT lawyer ...
17 September 2014

Supreme Court on Sec 113

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  CIT vs. Vatika Township (Supreme Court – Full Bench) S. 113 Proviso inserted by ...
11 September 2014

Guidance note on tax audit

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Updated Guidance note on tax audit by ICAI http://220.227.161.86/34728gn-taxaudit-dtcicai.pdf
08 September 2014

Consequences of late filling of return

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Assessee file return any time even up to march 2015 in case of audit also. Only following consequence. 1. He may have to pay Interest U/...
07 September 2014

Case Law on Bogus Purchases

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IT: Where purchases were supported by bills, entries were made in books of account and payment was made by cheque, said purchases could no...
06 September 2014

Forfeiture of advance money

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Forfeiture of advance money against capital asset is now treated as income U/s 56(2)(ix) w.e.f. A.Y. 2015-16. But if any advance money is fo...
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05 September 2014

Disclosure of unclaimed amount by Insurer

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RDA mandates insurers to disclose details of unclaimed amount from October 2014.   In an effort to arrest the growth of unclaimed money, IR...