We have duly considered the rival contentions and the material on record. The crux of the matter is to determine the true character of the receipt in the hands of the assessee and not the utilization thereof. The utilization will not determine the nature of the receipt. The assessee may mis-utilise the funds but that will not either determine or change the character of the receipt. The foremost thing to be appreciated is that the assessee has taken
The party could end soon for domestic and multinational companies that do tax planning only to avoid paying taxes in India. The government is set to usher in the next stage of reforms in taxation, framing anti-abuse rules that will empower tax authorities to lift the corporate veil and look for what are called `avoidance’ […]
The Following Benches will not function during the period 22.06.09 to 26.06.09:- “A-1, B-1, E-1,K, SMC & WT ” The cases are adjourned to respective dates. Please see separate Notice.
With immediate effect existing entries at S. No. 17 in the table in Para 2 of Notification No.104(RE-2009)/2004-2009 dated 6th May, 2009 allowing export of 1,17,100 MTs to Nigeria is hereby deleted and, shall be substituted and read as following
Profession Tax in Maharashtra – In Maharashtra (Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975), Profession Tax is applicable both on Individuals & Organizations (Company, Firm, Proprietary Concern, Hindu Undivided Family (HUF), Society, Club, Association Of Persons, Corporation or any other corporate body in Maharashtra per the provisions of the Maharashtra Professional Tax Act of 1975.
The finance ministry is considering a proposal to extend the tax exemption on inter-corporate dividends further down the chain of corporate subsidiaries in the upcoming Union Budget, a long-standing demand from India Inc. “The proposal is under consideration but a final decision has not been taken,” said a senior government official. The move is expected […]
In exercise of the powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2004-09 and Paragraph 1.1 of the Handbook of Procedures (Vol.1), the Director General of Foreign Trade hereby makes the following amendments/ additions/deletions/corrections in the Handbook of Procedures, Vol.2, and 2004-2009, as amended from time to time.
Notification No. 49/2009 – Income Tax Whereas the annexed Agreement between the Government of the Republic of India and the Government of the Union of Myanmar for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income has been signed in India on the 2nd day of April, 2008 and notifications of the procedures completed, as required by Article 29 of the said Agreement
CHECK-LIST FOR IMPORTANT REGULATORY COMPLIANCE Description ,Application Form & Time Limit 1. Annual Membership and Related fees: A) Becomes due and payable on 1 April of the year B) Form ‘A’ or ‘A-1’ of the Fee Circular or using Payment Gateway of ECS. Time latest th by 30 September of the year. C)If paid […]
In exercise of the powers conferred by clause (ha) of sub-section (2) of section 30 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), the Central Government hereby makes the following rules further to amend the Securities Contracts (Regulation) Rules, 1957, namely:- 1. Short title and commencement (1) These rules may be called the Securities Contracts (Regulation) (Amendment) Rules, 2008.
