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NICAI Updates Dated 22 Sep 2014

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  • NICAI Updates Dated 22 Sep 2014

    For Companies and Audit cases, if filing ITR before 3CD, say yes for whether liable for Tax Audit and no for whether Accounts audited by accountant. Leave CA name etc blank.

    3CD tip. If Assessee is liable for TDS/TCS but TAN not taken/available, write DTAN99999T in Clause 34(a) of Tax Audit Report in Form 3CD.

    RBI has eased FDI norms, allowing Indian companies to issue shares/convertible debenture to a person resident outside India against any payables, subject to certain conditions like entry route, sectoral cap, pricing guidelines and compliance with the applicable tax laws.

    CBDT seeks inputs from officials to improve assessment order quality and to reduce litigation. F.No- 279/Misc./M-84/2014-(ITJ) 18th September, 2014.
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