Non-Bailable Offences Under Companies Act, 2013 The Companies Act, 2013 has categorized certain offences at par with criminal offences under the Code of Criminal Procedure, 1972 (Cr. PC) thereby has identified the same as cognizable and non-bailable. Thus, it is quintessential for the Promoters, Directors, Manager, Officers and other key managerial personnel to understand various […]
PF Withdrawal is now Easier for Employees to Benefit Recently, EPFO allowed its subscribers to file their PF withdrawal applications directly to the retirement fund body without employers’ attestation thereby easing the process of PF withdrawal by employees. Facts about new process of PF Withdrawal: 1. The Universal Account Number (UAN) facility was launched last […]
Transfer pricing adjustment is not one of the adjustments contemplated under Explanation 1 Section 115JB(2) Case Law Citation: -M/s. Cash Edge India (Pvt.) Ltd., vs. ITO, (ITAT DELHI), ITA No. 64/Del/2015, Date of Decision: 23.09.2015 Brief of the case: In the case of M/s. Cash Edge India (Pvt.) Ltd., vs. ITO Delhi Bench of ITAT […]
Voluntarily surrender of income can’t escape penalty if assessee deliberately not shown unaccounted income in return Case Law Citation: -DCIT Vs. M/s Sunrise Stock Services P.Ltd. (ITAT CHANDIGARH), ITA No. 694/ CHD /2011, Date of Decision: 12.08.2015 Brief of the case: In the case of DCIT Vs. M/s Sunrise Stock Services P.Ltd. Chandigarh bench of […]
Mandatory Requirement of Quoting of PAN The Government is committed to curbing the circulation of black money and widening of tax base. Where the transactions exceeds the specified limit the income tax rules required quoting of Permanent Account Number (PAN) to collect information of certain type of transactions from third parties in a non-instructive manner.