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ICAI has already notified that from May 2019 examinations, pattern of assessment is going to be changed, as of till now, whole pattern was...

Tuesday, 18 August 2015

News Updates 18-08-2015

# IT: Reopening of assessment - Valuation of closing stock - there is no failure on the part of the assessee to disclose truly and fully all material facts - reassessment proceedings which are initiated beyond the period of four years are not permissible and the same cannot be (Gujarat High Court)

# ED: Valuation - best judgment assessment - related person - where arm s length sales are made at well below cost CESTAT is not justified in adopting cost plus method (Supreme Court)

# CBDT issues very important clarification on certain issues related to grant of approval and claim of exemption u/s 10(23C)(vi) of the Income Tax Act, 1961 for Educational Institutes.

# UNION BUDGET'2016: Government Advances the Budget Formulation Exercise by over Two Months for the Financial Year 2016-17 to Mid August, 2015.

# EPFO has done away the requirement of affixing Revenue Stamp on withdrawal of PF money.

# DVAT: Yet another extension of Last Date for filing VAT return for Q1 (FY2015-16) to 24.08.2015.

# SEMINAR on Financial Reporting, Notes to Accounts, Notice, Directors Report, Annual Report, on Sunday, August 23, 2015 (11AM to 2:30PM) at Riverside Club, Mayur Vihar, Phase-I, Delhi-110091. Speaker: CA Gopalji Agarwal NO FEES.

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