Direct Tax: CBDT notified the Procedure for registration and submission of Statement of Reportable Account as per section 285BA of Income-tax Act, 1961 read with Rule 114G of Income-tax Rules, 1962 vide… Read More
Direct Tax: Madras High Court held that the main criteria for treating a person as the Principal Officer is that he should be in charge of the management, administration and… Read More
Corporate and Professional Updates 7th April 2018 Direct Tax: ITAT deletes TP-adjustment of Rs. 339.17 crores in respect of receipt of management support services from AE for AY 2012-13; Relies… Read More
corporate and professional updates 6th April 2018 Direct Tax: ITAT directs application of TNMM over TPO/DRP’s CUP-method for benchmarking assessee’s payment of technical know-how fee to AE for AYs 2012-13… Read More
Maintenance of Books of Accounts Change in limits for Maintenance of Books of Accounts (Section 44AA): If your net income* from Business or Profession in the financial year 2017-18 is… Read More
Corporate and Professional Updates 5th April 2018 Direct Tax: SC dismisses Revenue’s SLP against Delhi HC judgement allowing Sec. 80HHE deduction to New Delhi Television Ltd. ('NDTV', assessee) for AY… Read More
Direct Tax: ITAT, allows assessee’s miscellaneous petition for AY 2010-11, deletes direction given to TPO to bring in more comparables functionally similar to the assessee after applying 25% RPT filter… Read More
Direct Tax: Allahabad High Court held that Goods can not be seized for mere transport after one week from Invoice Date. {Maa Vindhyavasini Tobacco (P.) Ltd. Vs. State of U.P.… Read More
E-WAY BILL E Way Bill is an electronic way bill for movement of goods which can be generated other eWay Bill Portal. Transport of goods of more than Rs. 50,000 (Single… Read More
Direct Tax: CBDT extends timeline for linking PAN with Aadhaar till June 30th. Bangalore ITAT holds that income of AOP cannot be taxed in the hands of the assessee(one of… Read More