1) MCA: Services on MCA portal will not be available from 16th Oct, 2015 08:00 PM to 19th Oct, 2015 8:00 AM.
2) CL: Due dates for Annual filing of Pvt. Ltd. for 2014-15
assuming AGM date 30th sep.
i) Form MGT-7:28th Nov
ii) Form AOC-4:30th oct
iii) Form ADT-1:15th oct
(only in case of first AGM or new auditor appointment)
iv) Form DIR-12:30th Oct
(in case of additional director is appointed)
3) Compilation of ratios of 17 carefully selected reported decisions in ITR (273 to 276)
4) IT: Income Tax Deptt has provided a taxpayer friendly feature of “e-facility to view tax and computation sheet for demand raised by AO” in the e-filing portal.
5) IT: AO cannot disallow loss for mere non-maintenance of qualitative stock records. ITAT Ahmedabad: Dhami Brothers Vs DCIT.
6) MCA: MCA has made temporary changes in the payments options for making payment of LLP e-forms fees for filing of various forms. So use only Online payment options during 9-10-2015 to 18-10-2015.
7) ICAI: ICAI has issued detailed guidelines on audit of internal financial controls over financial reporting as required under the new companies law.
8) IT: Losses cannot be set-off against Bogus /unexplained cash credit Income. Kerala High Court in the case of M/s Kerala Sponge Iron Ltd. vs. CIT.
9) IT: No Penalty on additions sustained on alleged Bogus Purchase for mere non-production of parties. ITAT Ahmedabad in the case of M/s Ruchi Developers vs. ITO.
10) IT: Difference between stamp duty value and sale price being lesser than 10%, Section 50C will not applicable. ITAT Kolkatta : LGW Limited.
11) Global Tax Regime: Finance ministers from India and other G- 20 countries have endorsed the final detailed plan for putting in place a coherent and transparent global tax regime.
12) Finance Ministry seeks stakeholders’ view on 3 GST reports by October end –
Updates MCA ICAI IT Finance Ministry
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