Daily Archives: July 17, 2018

CBDT Notification No 31/2018 ask unique number for identification of non-resident, amends advance ruling forms

By | July 17, 2018

Notification No 31/2018 Summary of Notification No 31/2018 The Central Board of Direct Taxes (CBDT) has released final notification amending Rule 44E of the Income-tax Rules, 1962 and Form 34C, 34D, 34DA as per Base Erosion and Profit Shifting (BEPS) Action 5. The new Forms 34C & 34D seek unique number used for identification of non-resident.… Read More »

No reassessment without considering assessee’s explanation about cash deposit :GUJARAT HC

By | July 17, 2018

The Assessing Officer formed a belief that income chargeable to tax has escaped assessment, on the ground that noticing a big mismatch between the returned income and cash transactions in the assessee’s bank accounts, queries were raised, which remained un-replied. This is contrary to the facts on record. The assessee had also furnished a copy… Read More »

18 new bill to be introduced in Monsoon Session 2018 of parliament

By | July 17, 2018

Ministry of Parliamentary Affairs Government holds All Party Leaders Meeting ahead of Monsoon Session 2018 of Parliament, beginning tomorrow Shri Narendra Modi expressed confidence that all political parties will cooperate on smooth running of the Parliament during Monsoon Session 2018 People of India want the Parliament to function; Government calls for cooperation from all parties… Read More »

Amendments Proposed to Central Motor Vehicles Rules

By | July 17, 2018

Amendments Proposed to Central Motor Vehicles Rules Video Explanation by CA satbir Singh in Hindi on Amendments Proposed to Central Motor Vehicles Rules Press Information Bureau Government of India Ministry of Road Transport & Highways 17 JUL 2018 2:20PM by PIB Delhi Amendments Proposed to Central Motor Vehicles Rules Ministry of Road Transport and Highways has… Read More »

Trust Registration deemed to be granted if CIT failed to dispose off sec. 12AA Application within 6 months : BANGALORE ITAT

By | July 17, 2018

Undisputedly, the trust was created on 01-04-1998 and application was moved on 25-05-1999. There was delay of 1 month 25 days for which assessee has moved an application requesting therein that the delay may be condoned and registration may be granted from the date of its inception. Though the Revenue was required to dispose off… Read More »

New MGT-7 Form : Download /Print

By | July 17, 2018

MGT-7 Form version Changed Please be noted that MGT-7 Form version is being changed MGT-7 is available on MCA21 Company Forms Download page for filing purposes. Click here to download   Form for filing annual return by a company. Form MGT-7 [zip] (982 KB) (e-Form with Instruction kit) Form MGT-7 [zip] (531 KB) e-Form 20-July-2018 (Form Version… Read More »

New GST News 17.07.18

By | July 17, 2018

New GST News 17.07.18 [ Join online GST Course by CA Satbir Singh ] New GST News GST Refunds : CBIC to observe Third Refund Fortnight from 16th July, 2018 ICAI’s 121 Suggestions on GST Law submitted to Government on 10.07.2018 Govt contractors may have to pay TDS under GST from Oct 1 ,2018 28th… Read More »

Category: GST

Taxability of Interest on Income Tax Refund

By | July 17, 2018

Taxability of Interest on Income Tax Refund Question:Whether the Interest on Income Tax Refund is chargeable to tax? if yes under which head ?  The amount received towards statutory interest i.e Interest on Income tax refund  has to be subject to tax under the head ‘Income from Other Sources’. Question :Whether interest on Income tax… Read More »

GST Refunds : CBIC to observe Third Refund Fortnight from 16th July, 2018

By | July 17, 2018

Ministry of Finance CBIC to observe Third Refund Fortnight to clear pending refunds Posted On: 16 JUL 2018 8:53PM by PIB Delhi Video Explanation by CA Satbir Singh Refunds of GST have been a concern for the Government and Trade for the past several months.  In this regard, the CBIC has observed two special drives… Read More »