Category : Income Tax
Where the High Court has framed substantial question of law in respect of the additions confirmed by the ITAT, penalty u/s 271(1)(c ) of the Income Tax Act cannot be levied as the same are on debatable and disputable issues on which difference of opinion can legitimately exist – ITAT Dellhi
[docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/04/Bombay-HIgh-Court.odt” comments=”true” SVG=”true”] To Download, GE Packaged Power Inc. Vs. DCIT (International Taxation)...
ITR -1 and ITR -4 is now available for e – filing and its analysis
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ITR forms for AY 2019-20 notified by CBDT
The Central Board of Direct Taxes (CBDT) has notified the ITR forms for AY 2019-20. To download the ITR forms notified by the CBDT click...
ICAI has issued Exposure Draft for Accounting Standard (AS) – 17 Leases
The Accounting Standard Board of ICAI has finalised AS 17, Leases, taking Ind AS 17, Leases, notified by MCA as the base. The ASB decided...
CBDT extends the AADHAR PAN linking till 30th September 2019
Circular No.6/2019 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ***** North Block, New Delhi, the 31st...
RBI issues notice for Deferral of Implementation of Indian Accounting Standards (Ind AS)
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On the basis of xerox, B S Yedyurappa can’t be held guilty
Ministry of Finance CBDT refutes Media Report Posted On: 22 MAR 2019 5:23PM by PIB Delhi A search action under Section 132 of the Income-tax...
CBDT increases tax free gratuity limit from Rs.10 lakh to Rs.20 lakh
[docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/03/Gratuity.odt” comments=”true” SVG=”true”]...
Exemption to Start up companies from Angel Tax
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 5th March 2019 S.O. 1131(E).—In exercise of the powers conferred...
The Finance Act 2019
The President of India Shri Ram Nath Kovind, on 21st February 2019 assented the Finance Act, 2019, thus giving effects to the amendments proposed in...
Press Release on Note on Recovery of Tax in the case of Travel Khana – CBDT
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 8th February 2019 PRESS RELEASE Note on Recovery of...
Exposure Draft Accounting Standard (AS) 41 Agriculture – ICAI
ICAI releases an exposure draft of AS 41 Agriculture...
No increase in the Income tax slab in Budget 2019 – Clarification on rebate of Income tax upto Rs. 5 Lakh Annual Income
There has been a misconception about the Increase in the Income-tax slab while listening to the Union Finance Minister while presenting the Internal Budget 2019....
Key Points of Interim Budget 2019-20
The basic exemption limit increased to Rs. 5 lacs for individual taxpayers. Taxpayers having total income of Rs. 5 lacs will get full tax rebate....
CBDT notifies new Centralised Verification Scheme for issue of notice and processing of info. u/s 133C – CBDT
The CBDT, on its way to make all the procedure electronic, notifies new Centralised Verification Scheme for issue and processing of information which specifies that...
The Reopening of assessment is an entirely independent and vastly different jurisdiction and cannot be confused with the revisional powers of the higher authority – Bombay High Court
The Bombay High Court in its recent judgement in the case of Saurabh Suryakant Mehta WRIT PETITION NO.3495 OF 2018 stated that “the reopening of assessment...
Guidance Note on Audit of Banks (2019 Edition) : Section C – Bank Branch Audit other than Foreign Exchange Transactions – ICAI
The Guidance Note on Audit of Banks is issued by the Auditing and Assurance Standards Board (AASB) of ICAI every year with the objective to...
Indirect Taxes Committee issued E- Publication on Expempted Supplies under GST –
In order to facilitate members and other stakeholders in understanding the exemptions under GST, Indirect Taxes Committee of ICAI has decided to bring out E-publication...
Guidance Note on Audit of Banks (2019 Edition) – ICAI
The Guidance Note on Audit of Banks is issued by the Auditing and Assurance Standards Board (AASB) of ICAI every year with the objective to...