Daily Archives: February 13, 2016

How to Pay Tax on Adsense Income

By | February 13, 2016

Income Tax on Adsense Income in India Under which  “Head ” Income from Adsense will be calculated ? Income under the Adsense will be calucated under the head  ” Profit and Gains from Business and Profession “ How to take Adsense income for calculating  Income Tax on Adsense Income ? The total income earned from… Read More »

Pre-deposit of 25% Total amount of tax u/s 62(5) of PVAT act is valid : P&H High Court

By | February 13, 2016

Held Right of appeal is a creature of a statute and it being a statutory right can be conditional or qualified. If the statute does not create any right of appeal, no appeal can be filed. Right to appeal is neither an absolute right nor an ingredient of natural justice, the principles of which must… Read More »

seized cash released as the AO did not act within stipulated time

By | February 13, 2016

Held The application of the petitioner for the purpose of releasing of the seized asset, which was made on 17.04.2014, came to be decided only on 20.07.2015 i.e. over one year later. In the meantime, the petitioner had sent two reminders. Action of the Assessing Officer cannot be countenanced. Impugned order dated 20.07.2015 is set… Read More »

Second marriage in subsistence of first marriage is held void in law

By | February 13, 2016

IN THE HIGH COURT OF JUDICATURE AT  BOMBAY CIVIL APPELLATE JURISDICTION FIRST APPEAL NO.577 OF 2015 WITH CIVIL APPLICATION NO.1770 OF 2015 Draupada @ Draupadi Jaydeo Pawar and Others …  Appellants vs. Indubai d/o. Kashinath Shivram Chavan and Another …  Respondents Mr. C.M. Kothari, for the Appellants and Applicants. Mr. Mahindra Deshmukh, for Respondent Nos. 1 and 2. CORAM : MRS.MRIDULA BHATKAR, J. RESERVED ON  : 5th JANUARY, 2016 PRONOUNCED ON  : 10th FEBRUARY, 2016 Held “The Indian system has adopted monogamy as a legal structure of the marriage institution and, therefore, occasional second marriage in subsistence of first marriage is held void in law,” Justice Mridula Bhatkar observed,… Read More »

Govt inserted Option for withdrawal of PF on cessation of employment

By | February 13, 2016

THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] MINISTRY OF LABUOR AND EMPLOYMENT NOTIFICATION New Delhi, the 10th February, 2016 G.S.R. 158(E).— In exercise of the powers conferred by section 5, read with sub-section (1) of section 7 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government… Read More »

ICSI to reject REGISTRATIONS pending more than year for want of documents from students

By | February 13, 2016

Source The Institute of Company Secretaries of India DEDUCTION OF 30% OF THE TOTAL FEE REMITTED BY THE APPLICANT IN RESPECT OF REGISTRATIONS LYING PENDING FOR MORE THAN A YEAR The Institute has decided to reject the applications of such studentswho do not submit the documents within one year after their registration in foundation and… Read More »

ICSI to Issue of Study Materials on Compulsory Basis to CS students

By | February 13, 2016

Source The Institute of Company Secretaries of India ISSUE OF STUDY MATERIALS COMPULSORILY TO ALL THE STUDENTS REGISTERING FOR THE CS COURSE It is informed that henceforth the study materials will be issued compulsorily to all students registering for different stages of CS Course. It has been decided to discontinue the system of granting concession… Read More »

Guidance Note on Reporting on Fraud u/s 143(12) of Companies Act 2013

By | February 13, 2016

Guidance Note on Reporting on Fraud u/s 143(12) of Companies Act 2013 The Council of the Institute of Chartered Accountants of India at its 350th meeting held on February 10, 2016 approved the Revised Guidance Note on Reporting on Fraud under Section 143(12) of the Companies Act, 2013. For the benefit of the members, complete… Read More »

Guidance Note on Audit of Banks 2016 edition released by ICAI

By | February 13, 2016

Guidance Note on Audit of Banks 2016 edition released by ICAI 12.02.2016 The Auditing and Assurance Standards Board of the Institute of Chartered Accountants of India has today issued the Guidance Note on Audit of Banks 2016 edition. For the benefit of members, complete text of the Guidance Note and the contents of accompanying CD… Read More »