Income shall be deemed to accrue in India if it accrues, directly or indirectly through or from transfer of a capital asset situated in India. However, the income from the transfer by a non?resident of any share or interest in a foreign company would not be considered as income, wherein at any time in twelve months preceding the transfer, the fair market value of the assets in India, owned, directly or indirectly, by the company, represent at least fifty per cent of the fair market value of all assets owned by the company.
In this judgement, after hearing the matter, vide its order dated 8 September, 2010 running into 196 pages, the HC has dismissed the writ petition filed by VIH, holding that the proceedings initiated by the Revenue Authorities under section 201 of the Act cannot be held to lack jurisdiction.
Appellant(s) are the distributors of imported prepackaged shrink wrapped standardized software from Microsoft and other Suppliers outside India. During the relevant assessment year(s) appellant(s) made payments to the said software Suppliers which according to the appellant(s) represented the purchase price of the abovementioned software. The ITO(TDS) held that since the sale of software included a license to use the same
Background 1. The Companies Act 1956 was enacted on the recommendations of the Bhaba Committee set up in 1950 with the object to consolidate the existing corporate laws and to provide a new basis for corporate operation in independent India. With enactment of this legislation in 1956, the Companies Act 1913 was repealed. 2. The […]
The Board of Studies of the Institute has introduced an optional Campus Placement Scheme for selection of Articled Assistants by CA Firms. The Pilot Campus Placement Programme held at Delhi in August 2010 has been a great success with an overwhelming response from both CA Firms and Students. Considering the positive feedback and requests received from both CA Firms and Students, it has been decided to start an Online Articles Placement Portal to facilitate placement of Articles in CA Firms on pan India basis.
Competition Commission of India (CCI) provides internship facility on competition law and policy to students pursuing Chartered Accountancy course. The objective of internship is to familiarize interested and willing students about the competition la
Adding a new twist to the 2G spectrum scam, the Comptroller and Auditor General (CAG) has in its latest communication told the department of telecom (DoT) that a vast majority of the 126 licences controversially issued by the government in 2008 are i
Mr. Satodiya Extractor Purchased a box of very rare and expensive cigars then insured them against, among other things, fire. Within a month, having smoked his entire stockpile of these great cigars and without yet having even one month complete Mr.
The case of the appellant was that she and respondent Santosh Kumar Singh were coworkers and were known to each other. They fell in love and ultimately the respondent proposed to marry the appellant. The appellant agreed to such proposal and on 21.03
The Centre has rejected the alternative model of Goods and Services Tax (GST) suggested by the empowered panel of State Finance Ministers and a few BJP-ruled States, which was suggested as a strategy to obviate the need for amendment to the Constitut