Notifications

ICAI has notifies removing the name of 8782 Chartered Accountants from ICAI Register of Members for non payment of membership fees via issuing Notification.

Name of 8782 Chartered Accountants removed from ICAI Register of Members for non payment of membership fees [ICAI Notification]

News

Have you been working a second job? Income-Tax Department has been delivering notices to a number of professionals who have neglected to record additional incomes above their normal salaries on their tax returns.

Income Tax Department started sending notices to moonlighting professionals

The Minister of State Shri Pankaj Chaudhary in the MOF in a written reply to a question raised in Lok Sabha said, 14227 Appeals pending with GST Authorities.

14227 Appeals pending with GST Authorities upto June 2023

The Minister of State Shri Pankaj Chaudhary in the Ministry of Finance in a written reply to a question raised in Lok Sabha said, “No proposal to bring GSTN under PMLA."

No proposal to bring GSTN under PMLA: MOF

Judgement

The ITAT Delhi has held that Profit ratio of 8% as per Section 44AD is not sacrosanct when higher Profit ratio is estimated by AO on basis of Books.

Profit ratio of 8% as per Section 44AD is not sacrosanct when higher Profit ratio is estimated by AO on basis of Books [ITAT]

The ITAT Kolkata in the matter of Saraswati Gupta vs. Income Tax Officer has levied penalty u/s 271A for not maintaining books and u/s 271B for not getting Tax Audit.

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Name of 8782 Chartered Accountants removed from ICAI Register of Members for non payment of membership fees [ICAI Notification]

Income Tax Department started sending notices to moonlighting professionals

14227 Appeals pending with GST Authorities upto June 2023

No proposal to bring GSTN under PMLA: MOF

Profit ratio of 8% as per Section 44AD is not sacrosanct when higher Profit ratio is estimated by AO on basis of Books [ITAT]

ITAT confirms both penalty u/s 271A for not maintaining books and u/s 271B for not getting Tax Audit