Special Unit of IT Dept. to Focus on Undisclosed Assets Overseas The government has established a specialized unit of the Income-tax Department to facilitate it to commence a focused inquiry… Read More
APPLICATIONS FOR CONDONATION OF DELAY IN FILING RETURNS CLAIMING REFUND AND RETURNS CARRY FORWARD OF LOSS AND SET-OFF Comparison of New guidelines with Existing/earlier GuidelinesNew: Circular 09/2015 dated 9-6-2015VSEarlier: Instructions 13/2006… Read More
OVERVIEW OF NEW RETURN FORMS FOR ASSESSMENT YEAR 2015-16 GOVT. NOTIFIES SIMPLIFIED ITR FORMS; NOW TAXPAYERS EARNING EXEMPT INCOME ABOVE RS 5,000 CAN FILE ITR-1 AND 4S Introduction to New… Read More
NOTIFICATIONS UNDER SECTION 462 OF THE COMPANIES ACT, 2013 The Ministry of Corporate Affairs, Government of India issued the final notifications under Section 462 of the Companies Act, 2013 (Act),… Read More
GOLD MOBILIZATION SCHEME (DRAFT) Seeking to mobilize idle gold worth up to Rs 60 lakhs crore held by households and institutions, government yesterday proposed a new scheme offering tax-free interest on depositing… Read More
FRAUD REPORTING AS PER COMPANIES ACT 2013 A new focus area for members during the current audit season would be Frauds. Section 143(12) of the Companies Act, 1956 outlines the… Read More
CBDT CIRCULAR CBDT extends due date of filing return from July 31, 2015 to August 31, 2015 (No.225/154/201511TA.II -Dated 10thJune, 2015):- The Central Board of Direct Taxes, in exercise of… Read More
NOTIFICATION U/S 462 OF THE COMPANIES ACT 2013-EXEMPTIONS TO PRIVATE COMPANIES On June 5, 2015, The Ministry of Corporate Affairs (MCA) issued a notification under section 462 of The Companies… Read More
HIGHLIGHT ON EXEMPTIONS GIVEN TO PRIVATE LIMITED COMPANY MCA has come out with a Notification dated 05.06.2015 which exempts Private Companies from certain provisions of Companies Act, 2013.… Read More
INTEREST WOULD BE ENTITLED BY ASSESSEE IF EXCESS SELF-ASSESSMENT TAX PAID EVEN REFUND The assessee would be entitled to interest under section 244A(1)(b) on amount of refund which was deposited by… Read More