Saturday, October 21, 2017

Anger Makes The Tongue Faster Than The Mind. Smile Makes Everything Work Faster Except The Tongue. think over.

Do you know the relation between smile & your face? Your face looks good with a smile but smile looks better when it's on your face. So Keep Smiling.

Depreciation has to be taken into account for computing profits eligible for deduction U/s. 80-IA. Plastiblends India Limited Vs Addl. CIT (Supreme Court of India)

UTGST and IGST  rate reduced on Food preparations in containers for weaker sections. Notification No. 39/2017 and 40/2017 dated 18th October, 2017

MCA has issued Valuation Rules on 18th Oct 2017 wherein there will be good scope for professionals in offing in Valuation Field (Companies Act and in Insolvency and Bankruptcy Code).

The SEBI has issued circular to notify the amendments to Securities and Exchange Board of India (International Financial Services Centres) Guidelines, 2015.

DGFT has notified the Amendments in Foreign Trade Policy 2015-2020 to enable certain additional duties / taxes / cess exemptions for Advance authorisations, EPCG Authorisations and units under EOU / EHTP / STP/ BTP Scheme.

Happiness is only found by those who are striving to make others happy.

Speech is an important part of our personality because looks and beauty can only gain attraction; But speech and good language can win hearts forever!

CBEC notifies certain supplies as deemed exports under CGST Act, 2017 vide Notification No. 48/2017-Central Tax dated 18th October, 2017.

SEBI laid down the framework for Mutual Fund industry. Now they will have to provide a ranking of stocks at the end of June and December, based on their average market cap on both the BSE and NSE.

The SEBI has issued circular to notify the amendments to Securities and Exchange Board of India (International Financial Services Centres) Guidelines, 2015.

Commerce and industry ministry has eased the mechanism for processing foreign direct investment (FDI) proposals by doing away with the requirement of sending the applications to the department of revenue.

DGFT has notified the Amendments in Foreign Trade Policy 2015-2020. Various provisions of Foreign Trade Policy 2015-20 is amended to enable certain additional duties / taxes / cess exemptions etc.

➡1. Payment of AMC of medical equipments in hospital are liable to sec. 194C TDS and not sec. 194J TDS
Income-tax Officer, (OSD) (TDS) 1(3) Mumbai v. Dr. Balabhai Nanavati Hospital*

➡2. No denial of Sec. 54B relief merely because new property was purchased without registered sales deed
Anil Bishnoi v. Assistant Commissioner of Income-tax, Chandigarh

➡3. Govt. notifies four supplies as deemed export

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Updates latest on income tax and GST

*👉🏻GST collection for June falls to Rs 92,849 Cr, lowest in 10 months* (The last time this happened was in Sept 2020, when GST collections...