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Archive: 21 August 2009

Posts in 21 August 2009

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 16, 2024 3858 Views 3 comments Print

Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 14, 2024 3498 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

Corporate can Pay stamp duty online for formation of company, Increase in Authorise Share capital etc

August 21, 2009 1217 Views 0 comment Print

Come September, the incorporation of companies or various regulatory filings will not be a cumbersome and time-taking exercise anymore. The government is going to start e-stamp facility that would allow corporates to deposit stamp duty electronically. From September 12, stamp duty for various instruments including Memorandum of Association, Article of Association (or incorporation of a […]

ITAT mumbai benches not functioning during the period 24.08.09 to 28.08.09

August 21, 2009 574 Views 0 comment Print

The following Benches will not function during the period 24.08.09 to 28.08.09:- ” A-1, B-1, E-1, J, L, WT & SMC” The cases are adjourned to respective dates. please see separate Notice.

Export of services (Amendment) Rules, 2009- Amendment in rule 3

August 21, 2009 501 Views 0 comment Print

Notification No. 25/2009-Service Tax, dated 19-8-2009 In exercise of the powers conferred by sections 93 and 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the Export of Services Rules, 2005, namely :­–

MVAT Audit Repot in form 704 can be filed only online after 30th September 2009

August 21, 2009 1625 Views 0 comment Print

In exercise of power conferred by sub rule (1) of Rule 17A of the Maharashtra Value Added tax Rules, 2005, The Commissioner of Sales Tax, Maharashtra hereby provides that the dealers who are liable to get the accounts audited as per the provisions.

MVAT Dealers against whom business audit started after 1st April 2009 need to file form 801 electronically

August 21, 2009 1244 Views 0 comment Print

No. Vat/AMD-1009/IB/Adm.6- In exercise of power conferred by sub rule (1) of Rule 17A of the Maharashtra Value Added tax Rules, 2005, The Commissioner of Sales Tax, Maharashtra hereby provides that the dealers in respect of whom the proceedings of business audit as per section 22 the Maharashtra Value Added tax Act, 2002 have commenced on or after 1st April 2009, Shall on or after 1st October 2009, Electronically upload the information in form 801, provided on the website of the Sales Tax Department.

SEBI ruled out rolling back its order banning entry load and parity in exit loads

August 21, 2009 312 Views 0 comment Print

On Tuesday, Sebi Chairman CB Bhave met chief executive officers (CEOs) of all fund houses to take stock of the ground realities after the new guidelines.Industry sources said while the fund houses explained that the industry was still in a nascent stage and imposition of stringent guidelines would stifle its growth, the market regulator told […]

Direct tax code introduced stringent norms for non resident

August 21, 2009 412 Views 0 comment Print

It is indeed heartening to note that the tax rates applicable to non-resident corporates are sought to be brought at par with the domestic companies, to be taxed at the rate of 25 per cent. However, correspondingly, the concept of the branch profit tax is proposed to be introduced (which appears to be somewhat akin […]

SEBI reviewing timeline for converting the prefrence warrant into shares and upfront magin to be paid

August 21, 2009 603 Views 0 comment Print

Norms for preferential allotment of equity warrants are learnt to be back under the regulatory scanner, following complaints from institutional investors that this instrument is being misused by promoters.

Penalty having commercial nature and paid in the normal course business is allowable

August 21, 2009 484 Views 0 comment Print

Explanation to s. 37 (1) does not apply to “penalty” which is not of the nature of illegal / unlawful expenditure The assessee became liable to pay “penalty” for overloading wagons under the rules of the Railways. The question arose whether the said “penalty” was disallowable under the Explanation to s. 37 (1) which provides that

Mvat Refund Application in form 501 can be filed only online from 01.10.2009

August 21, 2009 3357 Views 0 comment Print

The Commissioner of Sales Tax, Maharashtra hereby provides that the registered dealers who are entitled to claim the refund as provided under section 51 of the Maharashtra Value Added tax Act, 2002, Shall on or after 1st October 2009, Electronically upload the application in form 501, provided on the website of the Sales Tax Department.

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