The Gujarat Authority of Advance Ruling (AAR) held that the lump-sum amount received for Health care Services to be provided for 20 years as “Diamond Plan” exempted from GST. Facts of the case:- The applicant, M/s. Divyajivan Healthcare LPP submitted that it proposes to establish a …
1. The Central Board of Direct Taxes (CBDT) has reduced the Time limit to re-open Income Tax assessment from 6 years to 3 years. The assessment can be reopened upto 10 yrs, only when there is evidence of concealment of income of more than Rs. 50 …
1. The Institute of Chartered Accountants of India (ICAI) asked the observations of candidates on the question papers for December 2021 CA Exam. “It is hereby informed that candidates can bring to the notice of the Examination Department, their observations, if any, on the question papers …
The Delhi High Court upholds ICAI’s decision dismissing a complaint alleging Professional Misconduct by CA as a Report related to verification of books has passed the test of judicial scrutiny. Facts of the case:- A complaint was filed by the Appellant, Wholesale Trading Services before the …
1. The Supreme Court to hear plea seeking ‘Opt Out’ Option For Symptomatic Students Without RT-PCR Test for December 2021 exams. 2. The application filed by Sanjeev K Arora, a prospective candidate of the CA Exam scheduled to be held between December 5, 2021, to December …
1. The Institute of Chartered Accountants of India (ICAI) has submitted the Pre-Budget Memorandum, 2022. The Institute has suggested that the provisions of Section 2(1B) of the Income Tax Act be amended to clarify that the shares are to be issued by the amalgamated company to …
The Customs Authority of Advance Ruling (AAR) ruled that the concessional rate of basic customs duty of 7.5% payable on smart plugs. Facts of the case:- The applicant, M/s. Amazon Seller Services Private Limited proposes to import a device called a smart plug, having model no. …
1. The Supreme Court to hear the PIL challenging pattern and mode of the Intermediate and Final Cost Accountants (CMA) Examination The Institute of Cost Accountants of India (ICMAI) will conduct the CMA intermediate and final exams, in online mode, from December 8 to December 15. …
The Income Tax Appellate Tribunal (ITAT), Bangalore bench has held that the interest paid on bank loan cannot be liable to Tax Deduction at Source (TDS) and therefore, the disallowance under section 40(a)(ia) of the Income Tax Act, 1961. Facts of the case:- The Assessing Officer, …