INCOME-TAX (SECOND AMENDMENT) RULES, 2013 – AMENDMENT IN RULES 31A & 31AA; SUBSTITUTION OF RULES 31ACB, 37J AND FORM NOS.15G, 15H, 16, 16A, 24Q, 26Q, 27C, 27D, 27Q & 27EQ AND INSERTION OF FORM NO. 26B NOTIFICATION NO. 11/2013[F.NO.142/31/2012-SO(TPL)]/SO 410(E), DATED 19-2-2013 In exercise of the powers conferred by section 295 of the Income-tax Act, [...]
If A.O Objects to Audit, Notice U/s 148 Can’t Be Issued !
October 2, 2012 by Leave a Comment
Audit objections to assessment orders are very routine and equally routine is the manner in which these audit observation is handled within the tax department. Usually , the assessing officer first do not agree with the observation of audit objection, but later on account of CBDT instraution and guideline, issue notice u/s 148 on the [...]
Sec. 2(22(e):Regular Busienss Dealings Advance Not Covered !
September 18, 2012 by Leave a Comment
The assessee is engaged in the business of a travel agency. During the previous year relevant to the assessment year the assessee had entered into certain business transactions with M/s. Holiday Resort (P.) Ltd. and M/s. Ambassador Tours (I) (P.) Ltd. As a result of these business transactions, there were some financial transactions but the [...]
Deemed Dividend: Voting Rights Important Criteria!
September 18, 2012 by Leave a Comment
The assessee is a company and had 10 shares in East India Impex (Delhi) Private Limited. The assessee did not hold 10% or more voting rights in East India Impex (Delhi) Private Limited. The Assessing Officer invoked Section 2(22)(e) of the Act on the ground that one Subhash Sahni had more than 10% shareholding in [...]
Monthly Subscription
Annual
Semi Annual Subscription
Quiz for CA/ICMA/CS Students