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CBDT prescribes revised annual target of audit of minimum number of cases to be audited by each Additional CIT, SAP or IAP in a year shall be as under: Additional CIT (Audit): 150 SAP: 300 IAP: 600 (Corporate Cases) or 700 (Non- corporate).
Cash loan of above Rs. 20,000 taken by builder to meet immediate requirement of business won’t attract penalty under Income Tax Act. [High Court of Gujarat – CIT vs. Shreenathji Corporation].
New Service Tax Rate of 14% to come into effect only from a date to be notified and not from the date of assent of Hon’ble President on May 14, 2015.
ICAI fixes per member limit on concurrent audit of banks to 4 audits per member per year. Cooperative banks and RRBs were exempted from the limit. The above limit will come into effect from 01.01.2016.
GST Amendment Bill was referred to a select committee after the opposition forced the government in the Rajya Sabha where it lacks majority. The 21-member panel will give its report by last day of the first week of the monsoon session.
Webcast on Search Survey and Seizure on 18th May, 2015 at 5.00 P.M. to 7.00 P.M. Dr. Rakesh Gupta and CA. Anuj Goyal Chairmain PDC and CFM and IP will address the webcast
Cash loan of above Rs. 20,000 taken by builder to meet immediate requirement of business won’t attract penalty under Income Tax Act. [High Court of Gujarat – CIT vs. Shreenathji Corporation].
New Service Tax Rate of 14% to come into effect only from a date to be notified and not from the date of assent of Hon’ble President on May 14, 2015.
ICAI fixes per member limit on concurrent audit of banks to 4 audits per member per year. Cooperative banks and RRBs were exempted from the limit. The above limit will come into effect from 01.01.2016.
GST Amendment Bill was referred to a select committee after the opposition forced the government in the Rajya Sabha where it lacks majority. The 21-member panel will give its report by last day of the first week of the monsoon session.
Webcast on Search Survey and Seizure on 18th May, 2015 at 5.00 P.M. to 7.00 P.M. Dr. Rakesh Gupta and CA. Anuj Goyal Chairmain PDC and CFM and IP will address the webcast