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Businessman jailed for Income Tax Evasion

A Karnataka-based businessman has been jailed for six months for allegedly not filing his income tax arrears and interest of around Rs 7.35 crore...

SEBI inserts New Rule allowing Company Secretaries to do Secretarial Audit

Rent paid in Cash can’t be allowed as Business Expenses without Details: ITAT [Read Order]

GST Threshold Limit raised in Most of the States

Remit 5% TDS on Rent above Rs. 50,000: CBDT

Shilpa Shetty Kundra gets Tax Relief from ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai bench has deleted an addition against Bollywood actress Shilpa Shetty Kundra and co-owner of IPL Team Rajasthan Royals. The assessee is a film actor....

Re-appointment of Auditors by Company ceases to fall under Rotation Principles: ICAI withdraws Clarification

The Institute of Chartered Accountants of India ( ICAI ) has withdrawn its recent clarification permitting a Company which ceases fall under the rotation principles under the Companies Act, 2013 to...

Pramod Chandra Mody appointed as New CBDT Chairman

After Mr. Sushil Chandra appointed as Election Commissioner by the Central Government, IRS officer Pramod Chandra Mody on Friday took over as the new chairman of the Central Board of Direct Taxes...

PAN-Aadhaar Linkage shall be completed till March 2019: CBDT

The Central Board of Direct Taxes (CBDT) has mandated that the linking of PAN with aadhaar should be completed by the taxpayers by 31st March 2019. The constitutional validity of Aadhaar has been...

ICMAI to train One Lakh GST Accountants under Govt Funded Programme

Around one lakh students to be benefitted from the Government-funded GST training programme by the Institute of Cost Accountants of India ( ICMAI ). The government is coming out with GST Accountants...

Customary Bonus not eligible for Deduction u/s 36(1)(ii): ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the customary bonus cannot be treated as par with the paid under the Bonus Act and therefore, not attract the provisions of section...

ICAI to conduct Common Proficiency Test in June

The Institute of Chartered Accountants of India ( ICAI ) has informed that the Common Proficiency Test will be conducted on 16th June 2019. An announcement issued by the ICAI said that “In pursuance...

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