{"id":2714,"date":"2016-09-26T18:22:45","date_gmt":"2016-09-26T12:52:45","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=2714"},"modified":"2021-12-07T12:41:46","modified_gmt":"2021-12-07T07:11:46","slug":"corporate-and-professional-update-sept-26-2016","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-update-sept-26-2016\/","title":{"rendered":"CORPORATE AND PROFESSIONAL UPDATE SEPT 26, 2016"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d73ec1798be\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d73ec1798be\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-sept-26-2016\/#CORPORATE_AND_PROFESSIONAL_UPDATE_SEPT_26_2016\" title=\"CORPORATE AND PROFESSIONAL UPDATE SEPT 26, 2016\">CORPORATE AND PROFESSIONAL UPDATE SEPT 26, 2016<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-sept-26-2016\/#Direct_Tax\" title=\"Direct Tax:-\">Direct Tax:-<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-sept-26-2016\/#INDIRECT_TAX\" title=\"INDIRECT TAX:-\">INDIRECT TAX:-<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-sept-26-2016\/#GST_Updates\" title=\"GST Updates:-\">GST Updates:-<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-sept-26-2016\/#SEBI_Updates\" title=\"SEBI Updates:-\">SEBI Updates:-<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-sept-26-2016\/#FAQ_on_Company_Law\" title=\"FAQ on Company Law:\">FAQ on Company Law:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-sept-26-2016\/#MCA_Update\" title=\"MCA Update : \">MCA Update : <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-sept-26-2016\/#OTHER_UPDATES\" title=\"OTHER UPDATES:-\">OTHER UPDATES:-<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-sept-26-2016\/#ICAI_Updates\" title=\"ICAI Updates:-\">ICAI Updates:-<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-sept-26-2016\/#Key_Dates\" title=\"Key Dates:\">Key Dates:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-sept-26-2016\/#Read_the_related_links_below\" title=\"Read the related links below;\">Read the related links below;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-sept-26-2016\/#SEBI_introduces_onetime_settlement_scheme_SEBI_settlement_scheme-2020\" title=\"SEBI introduces onetime settlement scheme SEBI settlement scheme-2020\">SEBI introduces onetime settlement scheme SEBI settlement scheme-2020<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-sept-26-2016\/#A_SEBI_guidelines_for_DVAT_Provision\" title=\"A SEBI guidelines for DVAT Provision\">A SEBI guidelines for DVAT Provision<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-sept-26-2016\/#SEBI_extended_timelines_for_june_quarter\" title=\"SEBI extended timelines for june quarter\">SEBI extended timelines for june quarter<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-sept-26-2016\/#Service_regarding_SEBI\" title=\"Service regarding SEBI\">Service regarding SEBI<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p style=\"text-align: justify;\">Professional Update For the Day:<\/p>\n<p style=\"text-align: justify;\"><img decoding=\"async\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/07\/tax.png\" alt=\"tax\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"CORPORATE_AND_PROFESSIONAL_UPDATE_SEPT_26_2016\"><\/span>CORPORATE AND PROFESSIONAL UPDATE SEPT 26, 2016<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Direct_Tax\"><\/span><strong><span style=\"text-decoration: underline;\">Direct Tax:-<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/carajput.com\/income-tax-services.php\">IT:<\/a> Penalty u\/s 271B &#8211; assessee firm could not get the accounts audited within time limit prescribed u\/s 44AB &#8211; there is no mala fide reason for not obtaining the accounts audited in time and penalty u\/s 271B should not be imposed &#8211; M\/s. Gemorium Vs ITO Ward-5(1), Jaipur (2016 (9) TMI 962 &#8211; ITAT Jaipur)<\/p>\n<p style=\"text-align: justify;\">CBDT has issued office memorandum regarding\u00a0withdrawal of notifications granting approval \u00a0u\/s 35(1)(ii) of the Income-tax Act, 1961 in some cases.{ notification.No.203\/09\/2015\/ITA.II\u00a0 dated 21\/09\/2016}<\/p>\n<p style=\"text-align: justify;\">IT:\u00a0Late filing fee u\/s 234E &#8211; late filing of TDS return prior to 01 JUN 2015 &#8211; demand notices u\/s 200A for intimation for payment of fee u\/s 234E can be said as without any authority of law and the same are quashed and set aside to that extent \u2013\u00a0Sri Fatheraj Singhvi &amp; Others Vs Union of India &amp; Others (2016 (9) TMI 964 &#8211; Karnataka High Court)<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/carajput.com\/income-tax-services.php\">An IT<\/a>:\u00a0Adjustment in respect of levy of fees U\/s 234E was indeed beyond the scope of permissible adjustments contemplated U\/s 200A &#8211;\u00a0Little Servants of Divine Providence Charitable Trust Vs ITO (TDS), Alappuzha (2016 (9) TMI 960 &#8211; ITAT Cochin)<\/p>\n<p style=\"text-align: justify;\">IT:\u00a0Penalty u\/s 271B &#8211; assessee firm could not get the accounts audited within time limit prescribed u\/s 44AB &#8211; there is no mala fide reason for not obtaining the accounts audited in time and penalty u\/s 271B should not be imposed &#8211;\u00a0M\/s. Gemorium Vs ITO Ward-5(1), Jaipur (2016 (9) TMI 962 &#8211; ITAT Jaipur)<\/p>\n<p style=\"text-align: justify;\">An IT: Assessee has directly deposited cash in the supplier\u2019s account and has produced the bills, no evasion of tax by claiming the bogus expenditure in cash &#8211; Arun Kumar Mondal Vs ITO, W-2(2), Burdwan (2016 (9) TMI 995 &#8211; ITAT Kolkata)<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"INDIRECT_TAX\"><\/span><strong><span style=\"text-decoration: underline;\">INDIRECT TAX:-<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">ST:\u00a0Reimbursable expenses cannot be added in the assessable value of the C&amp;F, ST tax is payable only on the commission and not on the reimbursable expenses\u00a0 &#8211;\u00a0CCE, Indore Vs Virmani Enterprises (2016 (9) TMI 1025 &#8211; CESTAT New Delhi)<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/carajput.com\/services-vat.php\">VAT<\/a> &amp; ST:\u00a0Sale of apartment &#8211; petitioner doesn\u2019t become works contractor unless it had already entered into a contract with potential purchasers\u00a0&#8211;\u00a0Oceanus Dwellings Pvt. Ltd. Vs C.T.O. &amp; Ors (2016 (9) TMI 971 &#8211; Kerala High Court)<\/p>\n<p style=\"text-align: justify;\">VAT &amp; ST:\u00a0Sale of apartment &#8211; petitioner doesn\u2019t become works contractor unless it had already entered into a contract with potential purchasers\u00a0&#8211;\u00a0Oceanus Dwellings Pvt. Ltd. Vs C.T.O. &amp; Ors (2016 (9) TMI 971 &#8211; Kerala High Court)<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"GST_Updates\"><\/span><strong><span style=\"text-decoration: underline;\"><a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">GST<\/a> Updates:-<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">Under GST compounding dealer can switch to normal dealer during the year but he can&#8217;t change again to compounding dealer during same year.<\/p>\n<p style=\"text-align: justify;\">GST: CBEC released\u00a0Frequently Asked Questions (FAQ)\u00a0on GST on 21.09.2016. Link athttps:\/\/www.cbec.gov.in\/resources\/\/htdocs-cbec\/deptt_offcr\/faq-on-gst.pdf<\/p>\n<p style=\"text-align: justify;\">GST CBEC issues FAQ\u2019S on\u00a0Registration, Valuation, ITC, Assessment, Audit, Refund, Demand &amp; Recovery, Appeals, Advance Ruling, Offence &amp; Penalties etc.<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"SEBI_Updates\"><\/span><strong><span style=\"text-decoration: underline;\">SEBI Updates:-<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><strong>\u00a0<\/strong>SEBI\u00a0has issued circular in respect of Permission for trading in futures contracts and modification in contract specifications at exchange level.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.bseindia.com\/corporates\/Displaydata.aspx?Id=35eba11c-87ca-4713-b12f-695365c792f6&amp;Page=cir\">SEBI has issued a clarification that \u2018Income from Operations\u2019 may be disclosed inclusive of excise duty, instead of net of excise duty, as specified in the Companies Act, 2013.<\/a><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"FAQ_on_Company_Law\"><\/span><strong><span style=\"text-decoration: underline;\">FAQ on Company Law:<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">Query:\u00a0\u00a0Can a Pvt. Ltd. Company pay remuneration to its Ordinary Director (other than M.D\/WTD) on Monthly, Quarterly or yearly basis apart from 1% or 3% of Net Profit as provided under Section 197 of The Companies Act, 2013?<\/p>\n<p style=\"text-align: justify;\">Answer:\u00a0Private Company can pay remuneration to director (other than M.D\/WTD) without any limit subject to provisions contained in the Articles of Association of the Company. However by passing a board resolution you can fix\/revise the remuneration of the directors in private company.<strong>\u00a0<\/strong><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"MCA_Update\"><\/span><strong><span style=\"text-decoration: underline;\">MCA Update : <\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">MCA released\u00a0Companies (Management and Administration) Amendment Rules, 2016\u00a0vide Notification dated 23.09.2016.\u00a0 : The Ministry of Corporate Affairs (MCA) has made an\u00a0amendment\u00a0to the Companies (Management and Administration)\u00a0Rules, 2014. These\u00a0rules\u00a0may be called\u00a0<a href=\"https:\/\/www.mca.gov.in\/Ministry\/pdf\/CompaniesMgtAdminAmendmentRules2016.pdf\" data-saferedirecturl=\"https:\/\/www.google.com\/url?hl=en&amp;q=https:\/\/www.mca.gov.in\/Ministry\/pdf\/CompaniesMgtAdminAmendmentRules2016.pdf&amp;source=gmail&amp;ust=1474960271924000&amp;usg=AFQjCNG72yBLPa-bFrNuWdqqqL2n1uLv8Q\">the Companies (Management and Administration) Amendment Rules, 2016<\/a>\u00a0which shall come into force on the date of their publication in the Official Gazette.<\/p>\n<p style=\"text-align: justify;\">Amendment is made to clarify the provision of\u00a0Section 93\u00a0of the Companies Act, 2013 under which every listed company is required to file with the Registrar, a return in Form No. MGT.10, with respect to changes in the shareholding position of promoters and top ten shareholders of the company, in each case, representing increase or decrease by two per cent or more of the paid-up share capital of the company,\u00a0<span data-term=\"goog_565668257\">within fifteen days\u00a0of such change.<\/span><\/p>\n<p style=\"text-align: justify;\">Further, Form MGT-6\u00a0which is Return to the Registrar in\u00a0respect of declaration of beneficial interest in shares under\u00a0section 89 by the\u00a0company\u00a0has also been revised.<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"OTHER_UPDATES\"><\/span><strong><span style=\"text-decoration: underline;\">OTHER UPDATES:-<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">The Union Cabinet has approved today the proposal of the merging of Union Finance Budget and Railway Budget. Now a Consolidated Budget shall be presented on\u00a0February 1\u00a0every year instead of the last day of the month of February.<\/p>\n<p style=\"text-align: justify;\">Cabinet approves Agreement between India and Samoa for exchange of information with respect to Taxes &#8211; See more at:\u00a0<a href=\"https:\/\/taxguru.in\/income-tax\/cabinet-approves-agreement-samoa-tax-info-exchange.html#sthash.njfiS8W1.dpuf\">https:\/\/taxguru.in\/income-tax\/cabinet-approves-agreement-samoa-tax-info-exchange.html#sthash.njfis8w1.dpuf<\/a><\/p>\n<p style=\"text-align: justify;\">Cabinet approves extension of the validity of Central Orders dated 28.09.2015 in respect of edible oils and edible oilseeds and Central Order No. S.O. No. 2857(E) dated 18.10.2015 in respect of pulses from01.10.2016 to 30.09.2017.<\/p>\n<p style=\"text-align: justify;\">Today is last date for e-payment of ESI, and for DVAT &amp; CST pertaining to august, 2016.<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"ICAI_Updates\"><\/span><strong><span style=\"text-decoration: underline;\">ICAI Updates:-<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">ICAI:\u00a0Please pay your Membership and COP fee for 2016-17 before 30 SEP 2016.<\/p>\n<h4 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Key_Dates\"><\/span><strong><span style=\"text-decoration: underline;\">Key Dates:<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p style=\"text-align: justify;\">Advance information in BE_2\u00a0 Formf or 1st fortnight of Oct of functions with booking cost more than rs 1 lakh in Banquet Halls, hotels etc. in Delhi for DVAT\u00a0-27\/09\/2016<\/p>\n<p style=\"text-align: justify;\">Time, power, money &amp; body may not cooperate every time in life but Good nature, good understanding, spiritual path &amp; true spirit will always cooperate in life.<\/p>\n<p style=\"text-align: justify;\">Silence is the strong fence around wisdom, If your foot slips, You can re-gain your balance, but if your tongue slips, you can never re-build your image again.<\/p>\n<p style=\"text-align: justify;\">We look forward for your valuable comments.\u00a0<a href=\"https:\/\/l.facebook.com\/l.php?u=http%3A%2F%2Fwww.carajput.com%2F&amp;h=gAQHsWv16AQFzlc4f70dAECucTda_B9jilKfCgneeqqu7PA&amp;enc=AZPUk1qSy7_DGmookvElFjnUXYX3K0FPXVQ6LxfUnjgljqDX0P6jFZnpNH5t7Yt6TpvPD_TBP30DWaadPDKvaBy4FKUuIg27nk64qxy4GjjzfG96BrSAO9DKSM7QZ-zRr0H_1seDnwx81zv7LENE7mngqEq05doeSutrNoPIQRvjIbEFb_PEZA8D1pUlJzy7MCsIwWN_xt9o3UmaFFdtL9S1&amp;s=1\">www.carajput.com<\/a><\/p>\n<p style=\"text-align: justify;\">FOR FURTHER QUERIES CONTACT US:<\/p>\n<p style=\"text-align: justify;\">W:\u00a0<a href=\"https:\/\/l.facebook.com\/l.php?u=http%3A%2F%2Fwww.carajput.com%2F&amp;h=SAQGflxq6AQEemiXU5m1Sleu5gX786YxP36euwMDL4osVrw&amp;enc=AZNOhiS8emvOi54UCNVnOtgbK0wGSKeEDPbJpQZAlf7cr5YxodSOowKyOSqQSaPOGvHdnvM7BqIC59kJjZSk01ga1fRZiYW43kCBMakJLj2AABFBk9rS2CYBcAfrJuc94lg0aPhuGpayaxGpsPeGoOhC-uzXppp1p3gEF_2Ypq758ZRU2ATuk77eX5g1paVf-MLMxpH-3DA9l9FUmq44lBe_&amp;s=1\">www.carajput.com<\/a>\u00a0E: singh@carajput.com T: 011-233-4-3333, 9-555-555-480<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Read_the_related_links_below\"><\/span><strong>Read the related links below;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"SEBI_introduces_onetime_settlement_scheme_SEBI_settlement_scheme-2020\"><\/span><strong><a href=\"https:\/\/carajput.com\/learn\/sebi-introduces-onetime-settlement-scheme-sebi-settlement-scheme-2020.html\">SEBI introduces onetime settlement scheme SEBI settlement scheme-2020<\/a><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"A_SEBI_guidelines_for_DVAT_Provision\"><\/span><strong><a href=\"https:\/\/carajput.com\/blog\/sebi-guidelines-dvat-provisions-cbecs-move-towards-gst\/\">A SEBI guidelines for DVAT Provision<\/a><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"SEBI_extended_timelines_for_june_quarter\"><\/span><strong><a href=\"https:\/\/carajput.com\/blog\/sebi-extends-time-line-for-june-quarter-results-to-15-sept-2020\/\">SEBI extended timelines for june quarter<\/a><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"Service_regarding_SEBI\"><\/span><strong><a href=\"https:\/\/carajput.com\/learn\/security-exchange-board-in-india-consultancy-service.html\">Service regarding SEBI<\/a><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<h4 style=\"text-align: justify;\"><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>Professional Update For the Day: CORPORATE AND PROFESSIONAL UPDATE SEPT 26, 2016 Direct Tax:- IT: Penalty u\/s 271B &#8211; assessee firm could not get the accounts audited within time limit prescribed u\/s 44AB &#8211; there is no mala fide reason for not obtaining the accounts audited in time and penalty u\/s 271B should not be &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,172,9,4,12,15],"tags":[4890,4886,4887,4885,4889,4888,4376],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/2714"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=2714"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/2714\/revisions"}],"predecessor-version":[{"id":19530,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/2714\/revisions\/19530"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=2714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=2714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=2714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}