VAT Re-Assessment Order passed after GST rollout is Valid: Karnataka HC [Read Judgment]
Read more at: http://www.taxscan.in/vat-re-assessment-gst-karnataka-hc/30209/
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NFRA is Unconstitutional, says ICAI Chief
Read more at: http://www.taxscan.in/nfra-is-unconstitutional-says-icai-chief/30214/
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Tax Audit: CBDT issues Advisory to file Returns by 31st October
Read more at: http://www.taxscan.in/tax-audit-cbdt-advisory/30201/
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AO is not justified in insisting on payment of 20% of the demand based on cbdt's instruction dated 29.02.2016 during the pendency of appeal before the cit(a)and this approach may defeat & frustrate the right of the assessee to seek protection against collection and recovery pending appeal.?Bhupendra murji shah vs. Dcit, w.p. No. 2157&2160, bombay high court
GST Council has met 30 times and taken 918 decisions related to laws, rules and rates for the new tax regime within a span of just over two years, More than 96% of the decisions have already been implemented through 294 notifications.
Government of India has notified the Electoral Bond Scheme 2018. SBI in the 6th phase of sale, has been authorised to issue and encash Electoral Bonds through its 29 Authorised Branches w.e.f. 01.11.2018 to 10.11.2018.
UIDAI has said that Aadhaar e-KYC can be used to authenticate beneficiaries of government subsidies and welfare schemes, while for others the Aadhaar card can be used for verification.
SMEs raised Rs 1,281 crore through initial share-sales in April-September period of the current fiscal, registering a nearly two fold jump from the year-ago period.
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👉🏻21,900 entities under IT Dept’s scanner for evading taxes of about Rs 3,400 Cr
(21,900 entities are under the scanner of Income Tax Department for allegedly evading taxes of approximately Rs 3,200 crore between 2014 and 2016 through non-genuine trades in the illiquid stock options contract segment of the BSE)
👇🏻 👇🏻 👇🏻
https://goo.gl/CKCnkW
👉🏻RBI allows banks for fire audit of currency chests
(RBI has relaxed norms for the fire audit of currency chests allowing banks to get it done from approved agencies in case of shortage of staff at district fire offices)
👇🏻 👇🏻 👇🏻
https://goo.gl/CTUDwV
👉🏻Income Tax dept proposes online filing of tax exemption application
(Educational institutions, hospitals, charitable and religious trusts will soon have to file the online application for seeking income tax exemption, the I-T department said)
👇🏻 👇🏻 👇🏻
https://goo.gl/n3dm3s
👉🏻Appointment of Secretarial Auditor for carrying out Secretarial Audit of RailTel
(RailTel invites Expression of Interest from reputed firms of Practicing Company Secretaries for appointment of Practicing Company Secretary/ Firm of Company Secretaries for carrying out Secretarial Audit)
👇🏻 👇🏻 👇🏻
https://goo.gl/Fd7TCB
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Re-Opening of GST TRAN-1 to Rectify Errors; Bombay HC asks CBIC to resolve Issue within 12 Weeks [Read Judgment]
Read more at: http://www.taxscan.in/re-opening-tran-1-bombay-hc-cbic/30225/
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ICAI goes more Stringent against misleading Media Reports: Slams Reports on IT Returns filed by CAs
Read more at: http://www.taxscan.in/icai-media-it-returns-cas/30234/
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GST dept unearths Shell Companies in Cotton Trade in Ludhiana
Read more at: http://www.taxscan.in/gst-dept-shell-companies-ludhiana/30242/
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Tax Audit Due Date Extension: Kerala HC admits Petition, seeks response from Dept
Read more at: http://www.taxscan.in/tax-audit-due-date-extension-kerala-hc/30252/
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Due date TODAY 31st October
#GSTR -1 for the period July 2017 to Sept'2018 (monthly & quarterly both)
#Tax Audit report and ITR filling
#TDS return filling of IInd Quarter.
ICAI: Eligibility Test (ET) for DISA on to be held on Saturday the 17th Nov., 2018
Last Date for Online Form Submission 31st October, 2018 till 5:30 PM - https://pqc.icai.org/
MCA vide it's General Circular No. 10/2018 dated 29.10.2018 has provided. Relaxation of additional fees on filing of e-forms MGT-7 (Annual Return) and AOC-4 (Financial Statement) under the Companies Act, 2013 up to 31.12.2018
Bombay HC Decision. AO cannot ask for payment of even 20% of Disputed Tax till the disposal of the appeal by CIT-A.
NIRC: Seminar on Blockchain Organized by Digital Accounting and Assurance Board, ICAI Jointly with NIRC of ICAI on 3rd Nov, 2018 at Hans Hotel, Barakhamba Road, New Delhi
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CBIC Notifies Amended rules for GST Practitioners Exam [Read Notification]
Read more at: http://www.taxscan.in/cbic-rules-gst-practitioners-exam/30287/
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Sec. 54F deduction available to HUF even if new house was purchased in name of member
[2018] 98 taxmann.com 189 (Gujarat)
HIGH COURT OF GUJARAT
Principal Commissioner of Income Tax, Vododara-1
v.
Vaidya Panalalmanilal(HUF)
SECTION 54 OF THE INCOME-TAX ACT, 1961 - CAPITAL GAINS - EXEMPTION OF, IN CASE OF INVESTMENT IN RESIDENTIAL HOUSE (HUF) - ASSESSMENT YEAR 2009-10 - WHETHER WHERE CONSIDERATION THAT AROSE IN HANDS OF HUF ON SALE OF CAPITAL ASSET HAD BEEN INVESTED FOR PURCHASE OF NEW RESIDENTIAL HOUSE IN NAME OF SOME OF ITS MEMBERS INSTEAD OF ASSESSEE (HUF), DEDUCTION UNDER SECTION 54F IN HANDS OF HUF WOULD BE PERMISSIBLE - HELD, YES [PARA 8] [IN FAVOUR OF ASSESSEE]