Professional Update For the Day: Direct Tax:- CBDT has advised its Assessing Officers, not to reopen past assessments merely on the ground that the current year’s turnover has increased. Mere increase… Read More
PROCESS FOR NEW BUSINESS REGISTRATIONS & DOCUMENTS REQUIREMENT FOR GST REGISTRATION IN DELHI/INDIA. WHO ARE LIABLE TO BE REGISTERED? Following categories of suppliers shall mandatory required to get registered under this Act irrespective of the threshold… Read More
Professional Update for the Day: DIRECT TAX: Reopening u/s 147 of the assessment is not valid if the reasons recorded are incoherent and do not indicate what the basis for… Read More
Professional Update For the Day: Direct Tax:- Section 50C does not apply to transfer of land and building, being leasehold property the issue before the tribunal was whether section 50C… Read More
Professional Update For the Day: Direct Tax:- TPO has to give reasons why one particular TP method is chosen over others Honda Motorcycle & Scooters India (P.) Ltd. v.Assistant Commissioner… Read More
Professional Update For the Day: Direct Tax:- ITAT Amritsar in the belo mentioned case held that Once the books of accounts has been rejected the Assessing Officer cannot fall back… Read More
Professional Update For the Day: Direct Tax:- CBDT issued clarification regarding Chapter VI-A deduction on enanced profits vide Circular No. 37/2016 dated 02/11/2016.(Click here to view) Kerala High Court in the… Read More
Professional Update For the Day: Direct Tax:- Delhi High Court held that in case of assessees engaged in providing telecom services deduction under Section 80IA shall be allowed in respect… Read More
Professional Update For the Day: Direct Tax:- CBDT has issued Circular on 2nd Nov 2016 on Chapter VI-A deduction on enhanced profits, by virtue of which expenditure disallowed if related… Read More
Professional Update For the Day: Direct Tax:- Karnataka High Court in the below citied case held that Sale consideration received by the assessee is entitled to benefit under Section 54 of… Read More