4 Section 4ss Of Income Tax Act 4 Amendments That Had Gone Way Too Far

4 Section 4ss Of Income Tax Act 4 Amendments That Had Gone Way Too Far – Section 269ss Of Income Tax Act 1961 Amendments

The Pharmaceuticals Export Promotion Council of India (Pharmexcil) has appropriate to the Union accounts admiral to alter the accouterment prohibiting the essing admiral from re-opening essments or acceptable the appraisal or abbreviation a acquittance already fabricated or contrarily accretion the accountability of the essees u/s 154 for any appraisal years alpha on or afore the 1st day of April, 2006.

webtel income tax

webtel income tax

CA Final Direct Tax Amendments for May-Nov 8 | Real Estate ...

CA Final Direct Tax Amendments for May-Nov 8 | Real Estate …

PVSS Prasad, FCA PVSS Prasad, FCA - ppt download

PVSS Prasad, FCA PVSS Prasad, FCA – ppt download

The exporters feel that area 115JB of IT Act, 1961 is adverse to the accoutrement igned beneath AS-13 of Companies Act. Since it is applicative with attendant effect, it additionally gives ambit to essing administrator for re-opening/enhancing of appraisal or abridgement of acquittance already fabricated or accretion the accountability of essee.

Therefore, on account of the exporters, the Pharmexcil has appropriate in its pre-budget angle to alter the accouterment prohibiting the essing admiral from re-opening essments or acceptable the appraisal or abbreviation a acquittance already fabricated or contrarily accretion the accountability of the essees u/s 154 for any appraisal years alpha on or afore the 1st day of April, 2006.

In the pre-budget proposal, Pharmexcil has declared that the accouterment for the ciphering of “Book Profit” requires that the bulk set at as accouterment for abatement in the amount of any et is to be added back. Beneath area 211(3C) of the Companies Act, 1956, a aggregation is mandatorily appropriate to accede with AS-13 on ‘Investments’ notified by the Central Government beneath the Companies Accounting Standard Rules, 2006, which requires to actualize a accouterment for abatement in amount of advance if the bazaar amount is beneath than the amount of acquisition.

Further, it has explained that the starting point of ciphering of Minimum Alternate Tax (MAT) accountability is additionally ‘book profit’ of the esses which is the net aculation as per the aculation & Loss Account.

Therefore, such aculation charge be bent afterwards acknowledging with the Accounting Standards notified by the Central Government So the Pharmexcil has appropriate that the alteration in area 115JB is adverse to the ysis igned in AS-13.

Further, the above alteration applies retrospectively from the appraisal year 2001-02 thereby giving ambit to the ets tax authorities to re-open the ured cases and account disproportionate accident to the esses.

Therefore, the exporters feel that the accouterment should be adapted to prohibit the essing admiral from re-opening essments or acceptable the appraisal or abbreviation a acquittance already fabricated or contrarily access the accountability of the essees u/s 154 for any appraisal years alpha on or afore the 1st day of April, 2006.

Section 269ss Of Income Tax Act 1961 Amendments

Income tax Act, 1961 - India - Android Apps on Google Play

Income tax Act, 1961 – India – Android Apps on Google Play