| Posted: 12 Jun 2013 08:35 PM PDT Provided that where an assessee is required to furnish a report of audit specified under sub-clauses (iv), (v), (vi) or (via) of clause (23C) of section 10, section 10A, clause (b) of sub-section (1) of section 12A, section 44AB, section 80-IA, section 80-IB, section 80-IC, section 80-ID, section... |
| Posted: 12 Jun 2013 08:30 PM PDT CA Praveen Boda The CBDT has notified vide Notification No. 41 dated 10 June 2013, new Form 3CEB which includes reporting on specified domestic transactions. The said notification also amends Rule 10A, 10AB, 10B, 10C, 10D and 10E. Following are the additional international transactions required to... |
| Posted: 12 Jun 2013 07:26 PM PDT MORE INTERPRETATION OF 2ND PROVISO TO SECTION 44AB OF INCOME-TAX ACT Account books of State Co-Operative Societies are also audited by co-operative auditors of respective State Govt. Similarly, in Karnataka Value Added Tax Act, 2003, accounts of registered dealers are audited by Cost Accountants.... |
| Posted: 12 Jun 2013 07:17 PM PDT India has adopted the source rule for taxing royalties and technical services since 1976. The rule which is an exception to the general rule deems technical services to arise if the services are utilized in India irrespective of where the services are rendered. Given that the term 'fees for... |
| Posted: 12 Jun 2013 06:45 PM PDT The Schedules A,B,C,D appended to Maharashtra Value Added Tax Act, 2002 are amended with effect from 01-04-2013. Further, certain notifications are also amended. These amendments are briefly discussed below Amendments to Schedule A 1. Braille Watches w-e-f 01.04.2013 are now covered by Schedule... |
| Posted: 11 Jun 2013 08:17 PM PDT Notification No. 60/2013-Customs (N.T.) DATED THE 12th June, 2013 In excise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs (CBEC) hereby makes the following further amendments in the Notification of the Government of India,... |
| Posted: 11 Jun 2013 08:12 PM PDT To the existing authorised laboratories, two additional laboratories are added for purpose of certification/grading of diamonds of 0.25 carats & above. (xvi) International Gemological Institute (IGI) – Antwerp, Belgium; (xvii) International Gemological Institute (IGI) – Hong Kong. |
| Posted: 11 Jun 2013 07:40 PM PDT Introduction of "Basic Savings Account" under Post Office Savings Account Rule 1981 to facilitate opening of Zero Balance Accounts by beneficiaries of any Government Welfare Scheme-regarding. |
Addition u/s 68 was justified as assessee’s failed to establish genuineness
of transaction with cogent and credible evidence
-
Assessee had miserably failed to establish genuineness of the transaction
by cogent and credible evidence and that the investments made in its share
capi...
1 hour ago
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