Practical Accounts And Taxation
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Advance Rulings on Recovery from Employees
Two different products for purpose of excise duty: Native starch and modified starch
Educational courses led to foreign degree could be levied on ST
Draft notification issued by CBDT to provide Sec. 112A relief to off-market acquisitions
HC - Goods could be released on execution of simple bond if detained by Intelligence officer
Interest Taxability as per Land Acquisition Act, 1894
If AO didn't find any cover-up of income then it is subjected to revision to initiate penalty proceedings under sec. 263
Jurisdiction of sec. 2(15) - Holding workshops & conferences to facilitate dominant object of trust
No Tax on Material handling & shifting as they cater in 'Manpower recruitment & supply agency service'
'Operating Lease' - Leasing of goods imported on principal to principal basis
In case of wrong appeal filed before Ayakar Sevakendra there is a right to file an appeal before CIT not to be foreclosed
Inland Ports (Inland container depots) are eligible for Sec. 80-IA deduction – Supreme Court
Penalty justification on failing to prove loan taken which is Trade transaction
'Tipper trucks' - Heavy commercial vehicles for transport of goods
Goods seized due to absence of records has to get complete settlement within a week – High Court
As per Supreme Court definition of Turnover couldn’t be imported for computing section: Section 80HHC & 80HHE
Order passed by DRP excludes rejection of application for objection to draft order
Reassessment notice issued for making traveling and fishing enquires crushed by High Court
Concession in the rate for digital transactions & sugar cess imposition
Gross value of works contract includes Value of material supplied free of cost by service recipient
Mumbai Police exclusion from service tax on providing security services
Classification of Women's readymade garments as 'Women's or girls trousers' under Custom Tariff Act
NAA: Increased MRP of India Gate Basmati Rice has no violation of anti-profiteering rules
Amendments in various Rules under Companies Act, 2013
Royalty taxable for Sum paid by Google India to Google-Ireland under ‘Adwords Advt. programme'
Couldn't declare a transfer transaction as invalid by Tax Recovery Officer
If Form 3CEB was filed before retrospective amendment there won’t be penalty on non-disclosure of share capital received from AE
Allotment fee on let-out shops is taxable under 'Renting of immovable property service' decided by SLP
Borrowing Cost Analysis under Income-Tax
Material supplies and allied services as composite supplies are hold by AAR
Accounting of increase in liability due to recent enhancement of gratuity ceiling is not excluded
Late fees for taxpayers who were unable to file GSTR-3B due to technical issues of TRAN-1 filing has been waived by Government
No Tax for transportation of goods by Jet Airways under 'Cargo handling service'
Commercial construction services include replacing old damaged water lines of villages
Salary paid to employees appointed by parent company to Indian subsidiary company - No ST
Classification of items printed on order under Chapter 48 - till products were used for writing
Proposal for Financial Instruments – New Accounting Standard 109
No Classification for Booking space for cargo transportation in airlines or ships as 'Business auxiliary service'
No violation of GST anti-profiteering Rules proven successfully by KRBL
Failed to establish expenses made for time value of money as Applicant wasn’t a financial creditor
Valuation of seized goods & quantum of penalty Disputes to be resolved before Appellate Authority
If breach was committed by assesse there were no compulsion on Imposition of penalty for Commissioner
Classification under 'Animal or vegetable fertilizers' for Product 'Plant vitalizer' with brand name
If shares of beneficiaries were determined & were known, AO has been slammed by ITAT for assessing income in hands of trust
If all material facts were disclosed by assessee during original assessment, No reassessment after 4 years : HC
Intra-State supplies E-way bill is applicable from June 1, 2018 in Goa
Key points MCA notifications
10 Key Amendments Proposed in GST Laws
update IBA App for latest knowledge updates
Revised Returns filed after issuance of Scrutiny notice
Registration u/s 12A of Trust for IT exemption
Happy Independence Day
Medical Insurance premium of employee family is business expenditure - ITAT
Payment received from export of servicescan now be received in Indian Rupee
CESTAT allows Corporate social service Expenditure as input service
ICAI clarifies that disclosure regarding demonetized notes is not required any more
Commission paid to parent company for Corporate guarantee- is it Business Auxiliary service ?
Property maintenance charges collected from let out property is ‘ House property income’ - ITAT
Rental advance adjustment- is it a business loss?
Service Tax is due, Assessee didnt collected service tax from clients, is he still eligible for IT deduction?
Labour law Updates about registration, licence, certificate,
Government notifies CGST eleventh amendment rules 2018
Govt. issues procedure for delayed Tax Refund claims processing
Central & State tax authorities both are entiled to take enforcement Action on taxpayers
Derivatives transactions loss- can it be adjusted against business income?
CBDT Rules about holding gold jewellery applicable to Silver as well- Assessee gets a relief
Property given for development- Applicability of Capital Gain tax on it.
CBDT introduce new amendment in TDS/TCS certificates
Stock Trader’s Profit from sale of Mutual Fund- is it a capital gain or Business Income?
Central Government Approved an Ordinance to change the Companies Act and a major step taken to streamline NCLT Proceedings.
Key Takeaways from Companies Amendment Ordinance 2018
IBA wishesh a Happy and Prosperous DIWALI
Compensation received for closure of loss making business activity- is it taxable under income tax act?
Property purchased, rent received thereon from existing occupier- Is it a business income or House Property income? A different consideration.
Delayed Payment towards ESIC and PF before filing returns can’t be disallowed: ITAT
Auditing standards simplification proposed for small and less complex entities.
CBDT will soon launch Pre-filled IT returns Forms.
CBDT directs that Senior citizens need not to pay TDS if the amount of income is not exceeding Rs. 50,000/-
Capital gain can be taxable only when benefit is accrued to the receiver
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