Articles on Tax, Corporate Law, Recent Judgement

Considering the spurt in volume of software exports from India in recent times, other complexities involved in execution of work contracts and time consumed in the certification of SOFTEX forms, a simplified procedure has since been finalised by the Reserve Bank. Under the revised procedure, a software exporter, whose annual turnover is at least Rs. 1000 crore or who file at least 600 SOFTEX forms annually, will be eligible to submit a statement in excel format, giving a.. Full Article

We are at the cusp of a defining decade in the banking system. The Indian banking system has come a long way in terms of technology, business systems and processes. It has weathered the global economic crisis, but going forward it needs to focus on the key drivers of growth to be globally competitive. The lodestone of external impulses would be financial inclusion and the other key stones would be competition, consolidation and globalisation. The regulatory drivers would.. Full Article

Good governance is a necessary condition for not only economic growth and development but for an easy and comfortable society where we can go about our business - confident and unruffled. Good governance is of utmost importance for the financial sector but needs to be complemented by alert and efficacious regulation and supervision so as to build and maintain confidence of the savers and the investors. We, as a nation, have begun our journey and the tryst with our destin.. Full Article

The Advance rulings can be sought on any question of law or fact specified in the application in relation to a transaction which has been undertaken, or is proposed to be undertaken, by the non¬resident applicant. Even a resident applicant may seek rulings regarding tax liability of a non¬resident in relation to a transaction with the resident applicant. In case of a public sector undertaking advance rulings may be sought on an issue of fact or law relating to computat.. Full Article

1.Scan the page you want to convert into a Microsoft Word document. 2.Save the scanned image in *.gif, *.jpeg or whatever format.. 3.Open that image, go to "File->Save As" and name it xyz.tiff in the TIFF format as shown. Full Article

An NRE account is a Rupee denominated account. That is, funds in an NRE account are maintained in Indian Rupees. It can be a savings, current or a fixed / term deposit account. NRE accounts can be opened by NRIs. Funds can be repatriated from an NRE account. This means that the funds can be freely sent to any other country.An NRE account can contain funds remitted from abroad, or obtained from another NRE / FCNR account maintained in India.Funds can be transferred from .. Full Article

To know the status of PAN / TAN application filed with NSDL Assessee have to follow the following procedure:- 1. Visit the following Link :- https://tin.tin.nsdl.com/tan/StatusTrack.html 2. In The Application Type we have to choose out of the following two options :- PAN - New / Change Request TAN - New / Change Request Full Article

Works Contract has always been a matter of dispute for judiciary as well as professionals. The Complexity of transactions can briefly be gauged from the fact that applicable provisions include levy of Sales Tax (As per State Acts), Service Tax (As per Central Government), TDS and WCT Deductible (as required in most of state act) all on one single running bill of a Larger Work Contract. The Fact that one Single Works Contract may run into years and thereby resulting in tr.. Full Article