Income Tax

No Income Tax on Interest paid by PE to General Enterprises: Branch and Head Offices forms part of same Legal Entity, rules ITAT [Read Order]

July 7, 2022

Income Tax - Deduction - Commercial Establishments - ITAT - SC Ruling - taxscan

Income Tax Deduction u/s 80IB(10) applicable to Commercial Establishments/Shops: ITAT follows SC Ruling [Read Order]

July 6, 2022

Calcutta HC - Income Tax - Re-Assessment Proceedings - Dead Person - Taxscan

Calcutta HC quashes Income Tax Re-Assessment Proceedings against Dead Person [Read Order]

July 5, 2022

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ITAT Chennai - Co-operative Society - Financial Accommodation - members - RBI License - Banking Business - Exemption - ITAT - Taxscan

Co-operative Society providing Financial Accommodation to members without RBI License for Banking Business is eligible for Exemption u/s 80P(2)(a)(I): ITAT [Read Order]

July 7, 2022

The Income Tax Appellate Tribunal (ITAT), Chennai Bench has held that the cooperative society providing financial accommodation to members without Reserve Bank of India (RBI) license for banking business is eligible for exemption u/s 80P(2)(a)(I). The assessee, Varathappam Palayam Primary Agricultural Co-op. Credit Society having “A” class Members as well as “B” class Members as […]

Cash Deposits out of Business of Shroff cannot be Treated as Undisclosed Income U/S 68: ITAT [Read Order]

July 7, 2022

The Income Tax Appellate Tribunal ( ITAT ) Rajkot Bench presided by Ms. Annapurna Gupta, Accountant Member And Shri TR Senthil Kumar, Judicial Member has held that the cash deposits out of business of Shroff cannot be treated as undisclosed income u/s 68. The assessee, M/s. is engaged in Shroff business and derives income from […]

CA - CMA - vacancy - Bank of Baroda - taxscan

15 CA, CMA vacancies in Bank of Baroda

July 7, 2022

The Bank of Baroda has invited applications for the post of Senior Manager Business Finance, Chief Manager Business Finance, Senior Manager Internal Controls, Chief Manager Internal Controls, Senior Manager Financial Accounting, Chief Manager Financial Accounting. Qualifications: Graduation (in any discipline) and Chartered Accountant by Qualification Post Graduation Degree in Management with Specialization in Finance or […]

B. Com - CA - CMA - vacancy - P&G - taxscan

B. Com, CA, CMA vacancy in P&G

July 7, 2022

The P&G has invited applications for the post of Accounting Specialist. Responsibilities: Assisting the India External Reporting team for Legal Entity Financial Statements Reporting and Compliance. Preparing/Validating the reports to be used for generating the financial statements. Handle queries from Statutory auditors and follow up with required teams for data. Prepare Audit reports viz Tax […]

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Co-operative Society providing Financial Accommodation to members without RBI License for Banking Business is eligible for Exemption u/s 80P(2)(a)(I): ITAT [Read Order]

July 7, 2022

Cash Deposits out of Business of Shroff cannot be Treated as Undisclosed Income U/S 68: ITAT [Read Order]

July 7, 2022

IBBI to conduct Disciplinary Proceedings against IPA as per IBBI (Inspection & Investigation) Regulations, 2017 [Read Notification]

July 7, 2022

The Insolvency and Bankruptcy Board of India (IBBI) notified on Tuesday that disciplinary proceedings against IPA are to be conducted as per IBBI (Inspection & Investigation) Regulations, 2017. A notification issued by the Board on 4th July stated that the IBBI (Insolvency Professional Agencies) (Amendment) Regulations, 2022 to further amend the IBBI (Insolvency Professional Agencies) […]

Tax Exemption - Income Tax Department - Uttar Pradesh Electricity Regulatory Commission - Taxscan

Income Tax Dept notifies Tax Exemption to Uttar Pradesh Electricity Regulatory Commission [Read Notification]

July 7, 2022

The Central Board Direct Taxes (CBDT) has notified tax exemption to the Uttar Pradesh Electricity Regulatory Commission under section 10(34) of the Income Tax Act, 1961. A notification issued on Wednesday, stated that “the Central Government hereby notifies for the purposes of the said clause, ‘Uttar Pradesh Electricity Regulatory Commission’ (PAN AAALU0227H), a committee constituted […]

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