Author : Team Taxcharcha
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Implementation guide w.r.t. Notification no. 33/2018 dated 20.07.2018 effective from 20.08.2018 issued by ICAI
The Institute of Chartered Accountants of India (ICAI) has issued the Implementation guide w.r.t Notification no. 33/2018 dated 20.07.2018 effective from 20.08.2018 on 22nd August...
Deduction u/s 54 is allowed even if the assessee purchased new residential house before the sale of another residential house owned by him – ITAT Mumbai
Held: The Mumbai Tribunal in a recent decided case law has held that where the assessee has purchased the new residential house before the sale...
SLP admitted against the ruling that interest earned on funds deposited prior to commencement of business – SC
The Supreme Court has granted SLP against the High Court ruling that interest received on funds deposited with the banks borrowed for specific purpose of...
CBDT proposes to amend the rules for making the process of issue of certificate for no deduction or lower deduction electronically
For the purpose of downloading the revised Form No. 13, Click here...
Amended Form 3CD deferred to next year
CBDT has deferred the implementation of reporting requirement under the proposed clause 30C(pertaining to General Anti-Avoidance Rules (GAAR)) and proposed clause 44 (pertaining to Goods...
GST is attracted on the services of employees of Corporate Office to Branch Office : AAR Karnataka
Ruling : The activities performed by the employees at the corporate office in the course of or in relation to employment such as accounting, other...
MCA amended Companies (Prospectus and Allotment of Securities) Second Amendment Rules dated 07/08/2018
In exercise of the powers conferred by section 42, read with the sub- sections (1) and (2) of sections 469 of the Companies Act ,...
Reverse Charge Mechanism (RCM) u/s. 9(4) has been postponed till 30th September 2019
The Central Board of Indirect Taxes and Customs vide Notification No. 22/2018 – Central Tax (Rate) has postponed the applicability of Reverse Charge Mechanism (RCM)...
ICAI suggested CBDT to implement revised form 3CD from AY 2019-20 for smooth implementation
Institute of Chartered Accountant of India in their suggestions dated 2nd August, 2018 requested CBDT to implement the changes made in Form 3CD to be...
Decisions of 29th GST Council Meeting – Delhi
The 29th GST Council Meeting was held in Delhi on 4th August, 2018 under the leadership of Piyush Goyal, Minister of Finance, Railways, Coal and Corporate...
National Company Law Tribunal approves the merger of LLP with Private company – NCLT Chennai
The recent case law of M/s Real Image LLP with M/s Qube Cinema Technologies Private Limited before the National Company Law Tribunal , Chennai wherein...
Excise & Customs : Exemption notifications should be interpreted strictly, assessee cannot take benefit of ambiguity in exemption notification – SC
The Constitution Bench of Supreme Court of India in Commissioner of Customs vs Dilip Kumar & Company [Civil Appeal No. 3327 of 2007] on July 30,...
MCA releases certain Amendment Rules – MCA
MCA has released the following amendment rules which are as under: Companies (Accounts) Amendment Rules, 2018 In exercise of the powers conferred by section 134...
Lok Sabha passes Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018
The Bill provides significant relief to home buyers by recognizing their status as financial creditors. The voting threshold for key decision has been proposed to...
CBIC releases GST return formats
Central Board of Indirect Taxes and Customs (CBIC) has released the new GST return formats as per the decisions of 28th GST council meeting. To...
Penalty or Additional Fee for delay in Filing ROC Forms.
Penalty or Additional Fee for delay in Filing ROC Forms. Background: In Northern region comprising Punjab, Chandigarh and Himachal Pradesh, around 51% of the active...
CGST Rate Notifications issued on 26-07-2018 to give effect the amendments recommended in 28th GST council meeting on 21-07-2018
On 26-07-2018, the CBIC issued the notifications implementing the amendments recommended in the 28th GST council meeting held on 21st July 2018. The list of...
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