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NICAI Updates Dated Sep 3, 2014

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  • NICAI Updates Dated Sep 3, 2014

    CBDT vide its circulars mandating filing of TDS statements and issuance of TDS certificates downloaded from traces, but if you are not required to submit TDS statement for FY 2013-14 and not filed any TDS statements in FY 2013-14, than you are required to submit a declaration.

    Validity of reopening of assessment under Income Tax Act has to be determined on the basis of reasons for reopening[CIT vs. Shri Samraj Krishan Chaudhary (Allahabad High Court)].

    SEBI further amends ICDR regulations vide Notification No. LAD-NRO/GN/2014-15/06/1372 dated 25th August, 2014 issued Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements).

    In the very recent decision vide 2014-TIOL-1635-CESTAT-MUM[in the case the Ahmednagar Merchants Co-Operative Bank Ltd vs. CCE the Hon’ble CESTAT]. Mumbai has interpreted the relevance of definition of British Calender Month as per The General Clauses Act under service tax law.
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