"14 March 2017" Archive - Page 2

Top 5 Benefits of Invoice Finance for Small Business Owners

Supply chain management (SCM) or the active management of supply chain activities to enhance customer value and gain competitive management is an important part of every business, whether large or small. Good SCM potentially improves customer service, where the delivery of the right quality product in a timely manner appeases both produce...

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Posted Under: Finance |

Section 54F exemption eligible on multiple flats if in same address

CIT Vs Shri Gumanmal jain (Madras High Court)

In this case assessee having got 15 flats along with his two sons will not disentitle him from getting the benefit U/s. 54F of IT Act only on ground that all the 15 flats are not in the same Block, particularly in the light of admitted factual position that all the 15 flats are located at same address....

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Entertainment Tax leviable in Delhi on Multi-System & Local Cable Operators

Siti Cable Networks Limited Vs Government of NCT of Delhi & Ors. (Delhi High Court)

High Court held that MSOs to the extent that they directly provide cable service to the subscribers without the intervention of any LCO, would be regarded as the 'proprietors‘ under Section 7(1) and would be liable to collect and pay the entertainment tax to the Government....

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EPF contribution exemption to Singapore citizens working in India

File No. IWU/7(14)2008/Singapore/20803 (14/03/2017)

Special Provision in respect of International Workers-- Exemption granted under the Comprehensive Economic Cooperation Agreement between the Republic of India and the Republic of Singapore (CECA-2005) to Singapore citizens working in India from contributing to social security schemes in India - Clarification regarding....

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Don’t use abusive tax structures to avoid paying taxes: IRS

Don’t use abusive tax structures to avoid paying taxes. The IRS is committed to stopping complex tax avoidance schemes and the people who create and sell them. The vast majority of taxpayers pay their fair share, and everyone should be on the lookout for people peddling tax shelters that sound too good to be true...

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Posted Under: Finance |

Cenvat Credit cannot be denied for mere non-Registration of Premises

Commissioner, Service Tax Vs M/S Pangea 3 Legal Database Systems Pvt. Ltd. (Allahabad High Court)

Insofar as requirement of registration with department as a condition precedent for claiming Cenvat credit is concerned, there is no provision in Cenvat Credit Rules which impose such restriction. ...

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Invitation for Free Research Proposal from CBDT & CBEC officers

F.No. TPRU/2016-17/5 (14/03/2017)

With the aim of creating capacity for research amongst the officers of the Income Tax Department and the Customs and Central Excise Department, it has been decided to introduce a scheme of free research from departmental officers....

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Enemy Property (Amendment and Validation) Act, 2017

NO. 3 OF 2017 (14/03/2017)

(1) This Act may be called the Enemy Property (Amendment and Validation) Act, 2017. (2) Save as otherwise provided in this Act, it shall be deemed to have come into force on the 7th day of January, 2016....

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Notification No. 06/2017-Central Excise (N.T.), Dated: 14.03.2017

Notification No. 06/2017-Central Excise (N.T.) (14/03/2017)

In exercise of powers conferred by clause (b) of section 2 of the Central Excise Act, 1944(1 of 1944) read with sub-rule (1) of rule 3 of the Central Excise Rules, 2002, the Central Board of Excise and Customs makes the following further amendment in the notification of the Government of India, Ministry of Finance (Department of Revenue),...

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Taxpayers should avoid temptation to falsely inflate deductions: IRS

Falsely Padding Deductions on Returns: Taxpayers should avoid the temptation to falsely inflate deductions or expenses on their returns to pay less than what they owe or potentially receive larger refunds. Think twice before overstating deductions such as charitable contributions and business expenses or improperly claiming credits such a...

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Posted Under: Finance |
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