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Big Four Accountancy Firms Should Break Up, says MPs Committee of UK

A cross-party committee of MPs has suggested that the UK's Big Four accountancy firms should be separated into audit and non-audit businesses....

Karnataka High Court allows revisal of GST TRAN-1 for Non-Technical Errors [Read Order]

Income Tax Dept attaches Syed Ali Shah Geelani’s House at Delhi

Income Tax Dept to send 11 Lakh E-Notices to Non-filers

Payment to Spanish Company for Fabric Testing not FTS as per DTAA, no TDS: ITAT [Read Order]

Firm, not a Shareholder in Pvt Company can’t be Taxed for Deemed Dividend: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Kolkata bench has held that a Firm, which is not a shareholder in a private company cannot be taxed for deemed dividend under Section 2(22)(e) of Income Tax...

Advance Received from Promoters in Cash through Current Accounts not violation of S. 269SS: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai has held that no penalty can be imposed for receiving advances from the promoters in cash through their respective current accounts. Assessee engaged...

Lower GST applicable to Unstitched Three-Piece Salwar / Churidar Sets: AAR [Read Order]

The Authority for Advance Rulings (AAR), Tamil Nadu has held that a salwar/churidar-kurta set comprising three pieces, top, bottom and dupatta which are just fabric or articles of apparels...

Income Tax Officers spreading Fear: Chartered Accountants requests to Prime Minister Modi

The Chartered Accountants in India wrote a letter to Prime Minister Modi asking to hold back income tax officials instructed to take “all possible actions” to plug revenue-shortfall. A letter jointly...

GST Revenue Collection for March crosses Rupees One Lakh Crore

Total Gross GST revenue collected in the month of March, 2019 is Rs. 1,06,577 crore of which CGST is Rs. 20,353 crore, SGST is Rs.27,520 crore, IGST is Rs.50,418 crore (including Rs. 23,521crore...

Revision Petition - GST Revenue - Taxscan

Ind AS 116, Leases - A New Era of Accounting for Lease Contracts by Lessees, says ICAI

In the larger interest of the Indian economy and industries, the ICAI always endeavours to ensure that Indian Accounting Standards (Ind AS) Framework remains converged at all time with globally...

IBBI issues Syllabus for Limited Insolvency Examination w.e.f. 1 st July, 2019 [Read Syllabus]

The Insolvency and Bankruptcy Board of India ( IBBI ) has published the syllabus, format etc. of the Limited Insolvency Examination (Examination) under regulation 3(3) of the Insolvency and Bankruptcy...

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