News Updates

The Institute of Cost Accountants of India (ICMAI) has issued Frequently Asked Questions (FAQs) on Standards of Cost Auditing. The Ministry of Corporate Affairs in terms of provision to Section 148(3) of the...

The Central Board of Direct Taxes ( CBDT ) has extended the due date of filing Income Tax Returns for the Financial Year 2018-19 to 30th September 2020. The CBDT said that In...

The Institute of Company Secretaries of India( ICSI ) has issued Frequently Asked Questions (FAQs) on Merging of June 2020 to December 2020 CS Examination. In continuation to Important Announcement of December 2020...

Tax Losses Carryback (‘TLCB’) is a system that allows taxpayers to set-off losses of the current year against the profits of past years. Globally, at least 20 countries have some form of...

As more companies involve themselves with foreign investments, the importance of the Foreign Exchange Management Act (FEMA) regulations and their compliance becomes a major part of the company’s operations. FLA return is...

Simultaneous searches were conducted on 24th/25th July 2020 by the officers of DGGI, Aurangabad Regional Unit, and Nashik Regional Unit on the premises of a Multinational Brewery located at Aurangabad and a...

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that the Assessing Officer (AO) cannot reopen the assessment merely on the basis of change of opinion and directed the AO to restrict...

The Income Tax Appellate Tribunal (ITAT), Delhi Bench held that the AO exceeded his jurisdiction in reassessing issues other than the issues in respect of which the proceedings are initiated and reasons...