Section 143 (1) of the Income Tax Act, 1961 (‘the Act’) provides for prima facie adjustments to a return of income filed by the assessee, while processing the return of income. The ambit of prima facie adjustment was expanded by the Finance Act,...
The 23rd GST council meeting was held on 10 November 2017 at Guwahati. The following are the key highlights of said meeting:
- Proposed revised GST rates for certain goods
- Proposed revised GST rate for restaurants.
- Relaxation in GST...
In a path breaking judgment, the Hon’ble Delhi High Court on 8 November 2017 has ruled that certain clauses of various Income Computation and Disclosure Standards (ICDS) are unconstitutional and also suffers from the vice of excessive delegation.
We are pleased to release our newsflash on the captioned subject.
The 22ND GST council meeting was held on 6 October 2017 at New Delhi. The following are the key highlights of said meeting:
- Proposed revised GST rates for certain services
The Prevention of Money-laundering Act, 2002 (PMLA) aimed at combating money laundering in India came into force with effect from 1st July 2005.
Under the PMLA, the reporting entities inter-alia, included dealer in precious metals, precious stones...