Insurance companies have asked the government to shift to the new tax regime under the Direct Tax Code only for those policies sold after the proposed Code came into effect from April 2011. The draft code, circulated for public comments, had suggested that life insurance policies should be taxed at the time of maturity. So, the […]
The Hong Kong offices of accounting giant Ernst & Young were raided by police as part of a fraud investigation linked to the city’s biggest corporate collapse, local media said Wednesday.The search, which occurred Tuesday, came after Ernst & Young was accused in court earlier this month of falsifying documents to shield itself from a […]
The Income Tax Act 1961 (the Act) has been amended with effect from 1st October 2009 to provide that any gift-in-kind, being an immovable property or any other property, the value of which exceeds Rs.50,000 (rupees fifty thousand), will become taxable in the hands of the donee, being an individual or a Hindu Undivided Family […]
Legal Consultancy Services provided from outside India, in relation to immovable property shall be deemed to be import of services if the immovable property is situated in India. Legal Consultancy Services provided from outside India which are not in relation to immovable property shall be deemed to be import of services if the services are received by a recipient located in India for use in relation to business or commerce.Cosmetic and Plastic Surgery Services and Transportation of Coastal Goods and Goods Transported Through National Waterways and Inland Water Services shall be deemed to be import of services if such services are wholly or partly performed in India.
Draft public offer documents for any issue size of Rs 50 crore or less are to be filed with the regional SEBI offices assigned to States and Union Territories, the markets regulator said in a circular on Tuesday. For public issues exceeding Rs 50 crore, the offer documents are to be filed with the SEBI headquarters […]
A writ petition challenging the decision of the State Government to implement e-filing of sales tax returns by dealers with effect from September 1 has been filed the Kerala High Court. The court on Tuesday adjourned hearing on the petition. The petitioner, Mr M.K. Haridas, who is the Manager of a Kochi-based partnership firm, submitted before […]
