- CBDT withdraws Circular on 56(2)(viia) applicability to fresh issuance of shares; Cites subjudice matters
- CBDT: Sec. 56(2)(viia) not applicable to receipt of ‘freshly issued shares’ by closely held co.
- CBDT has notified Non-Securities Transaction Tax scenarios for 10% LTCG under section 112A
- Exemption on interest income on specified off-shore Rupee Denominated Bonds
- Government extends due date for furnishing of FORM GSTR-1 to October 31
Monthly Archives: January 2018
The 25th GST Council Meeting was held at New Delhi on the 18th of January 2018. In addition to relaxation of GST rules and regulations, GST rates have also be reduced for various goods and services
Prerequisite for generating an e-way bill: a) Registration on the EWB portal. b) The Invoice/ Bill/ Challan related to the consignment of goods must be in hand. c) If transport is by road – Transporter ID or the Vehicle number.
Bangalore ITAT in Texport Overseas P. Ltd. v. DCIT has held that the amendment with respect to restriction in scope of Domestic Transfer Pricing (TP) by Finance Act, 2017 is deemed to be omitted from its inception.
CBDT Lays down process for intimating taxpayers & seeking response on proposed adjustments us 143(1)(a)(vi)
CBDT lays down process & scenario(s) for seeking response of taxpayers to proposed adjustments u/s 143(1)(a)(vi) for addition of income appearing in Form 26AS or Form 16 or 16A which is not included in computing income in ITR.