Application of AS-22 on AS-19 Hello everyone thanks for the appreciation for my last article “why AS 22 is applied”, coming with another article application of AS-22 on AS -19 […]
Disallowance u/s 40(a)(ia) should not be made on the basis of subsequent amendments
Disallowance u/s 40(a)(ia) should not be made on the basis of subsequent amendments The amendment brought in by the Finance Act with retrospective effect, which was passed in the year […]
Sec. 50C AO must refer the valuation to DVO despite no request by assessee
Sec. 50C AO must refer the valuation to DVO despite no request by assessee Presumably, the case of the assessee was that price offered by the buyer was the highest […]
Dates of First Rail & Union Budget by Modi Government announced
Dates of First Rail & Union Budget by Modi Government announced As reported by us in our post dated 18.06.2014 titled ‘Union Budget on 10th July 2014, Rail Budget on […]
ICAI gives suggestions for improvement in Income Tax Refund Issue Process
ICAI gives suggestions for improvement in Income Tax Refund Issue Process a) Difficulties in obtaining old paper refunds -Presently, the refund, if exceeds Rs. 1 lacs requires approval from the […]
ICAI suggests independent and comprehensive audit of all TDS returns
ICAI suggests independent and comprehensive audit of all TDS returns A major portion of the revenue by way of income-tax is recovered through deduction of tax at source. For furnishing […]
Up Govt abolishes system of furnishing Affidavit on Stamp Paper
Up Govt abolishes system of furnishing Affidavit on Stamp Paper The Uttar Pradesh Government has decided to abolish various affidavits which were required to be notarized for various schemes in […]
ICAI suggestions on Applicability of SA -700 on form of audit reports
ICAI suggestions on Applicability of SA -700 on form of audit reports The ICAI had pursuant to the issuance of the Revised SA 700, “Forming an Opinion and Reporting on […]
Clear guidelines on foreign tax credit should be introduced – ICAI
Clear guidelines on foreign tax credit should be introduced – ICAI Clause 207 relates to foreign tax credit allowable to an assessee, being a resident in India in any financial […]
Income Tax Appeal Filing Procedure in Brief
Income Tax Appeal Filing Procedure in Brief APPEALS PROCEDURES OF INCOME TAX: This article has been is to focus on the provision and procedures relating to Filing the Appeals. One […]