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NICAI Updates 18-Nov-2014

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  • NICAI Updates 18-Nov-2014

    Income tax section 80C deduction- Bank term Deposit limit increased to Rs. 1.50 lakh. Notification No. 63/2014, dated: November 13, 2014.
    Deeming fiction created by virtue of section 50C in determining capital gain cannot be extended to section 11(1A). [ACIT Vs. The Upper India Chamber of Commerce, ITAT - Lucknow.]
    Draft Bank Branch Auditors Panel for the year 2014-15 has been hosted at http://www.meficai.org/DraftBankBran...l_2014_15.html.
    Paper 4 Taxation of Intermediate (IPC) exam scheduled for 14th November 2014 stands postponed to 23rd November 2014.
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