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Updates Of the Day.....

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Updates Of the Day
1.RBI allows 90% loan to value ratio for home loans up to Rs.30 lakh. Earlier, 90% LTV was allowed only for loans up to Rs.20 lakh.
2.Form ADT1 for appointment of auditors needs to be filed within 15 days from the date of AGM. Those auditors appointed for 5 years in last AGM need not file ADT1. Only ratification resolution to be passed and kept on record.
3.DVAT authorities have extended the last date of filing of online return in Form 9 for the year 2014-15 to 31.10.2015.
4.Expense on charity not entitled to exemption if it is not as per objects: [Mool Chand Khairati Ram Trust vs DIT, Delhi High Court]
5.Department cannot change its stand taken in one case in other case on identical facts: [CIT vs. Smt. Datta Mahendra Shah, Bombay High court]
6.Bombay high court ruling in favour of vodafone in a transfer pricing case, the Indian arm of the british telecom company has scored another victory against tax department.
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