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Once Section 44BB is attracted, it is common ground that the computation has to be made in accordance with that provision and no other special provision, viz., Section 44DA or Section 115A would come into play in view of the fact that the payment is being made by a non-resident to another non-resident.
The applicant, Federation of Indian Chambers of Commerce and Industry (“FICCI”) is a company registered under the Companies Act, 1956. It is stated that for meeting several objects, the applicant maintains a liaison with the Government of India/State Governments on the one hand and several corporations and other members on the other
VSAT Charges- Members of the stock exchanges trade (purchase and sell) on behalf of their clients. As a part of infrastructure provided to the members a trading system, known as on screen trading is provided by stock exchanges. Such trading facilities are established by Stock exchanges to enable trading anywhere in the territory of India.
Section 158BC(b) provides that where any search has been conducted u/s.132 or books of account, other documents or assets are requisitioned under section 132A, in the case of any person, then the Assessing Officer shall proceed to determine the undisclosed income of the block period in the manner laid down in section 158BB and the provisions of section 1
It has also been argued that while computing the perquisite value the salary from only one employer should be considered. We are however unable to accept the argument. The computation of perquisite value as per the rule is based on the annual salary and not on the basis of salary from one employer
The VAT forms i.e VAT 15 form has been updated in view of the change in the rate in the PVAT Act on schedule B goods from 4% to 5% and additional surcharge levied @ 10%. The next quarterly VAT Return under the PVAT Act 2005 is due to be filed in the next month of April.
Mahindra Satyam, which is in the process of restating the accounts of the last few years that preceded the major financial crisis, has reportedly written to the Ministries of Company Affairs and Finance to refund the huge taxes the company had paid on the inflated financials of the company. Sources in the company said the amount could be in the order of Rs 300 crore.
Postal Index Number (PIN) is a 6 digit code. There are 8 PIN regions in the country. The first digit indicates one of the regions. The first 2 digits together indicate the sub region or one of the postal circles. The first 3 digits together indicate a sorting / revenue district. The last 3 digits refer to the delivery Post Office.
While the Public Company Accounting Oversight Board (PCAOB), the regulator for auditors in the US, on March 16 barred Siva Prasad Pulavarthi and Chintapatla Ravindernath — senior executives with PricewaterhouseCoopers’ associate Lovelock & Lewes, the former auditor for Satyam Computers — in the IT firm’s Rs 7,000-crore fraud, the accounting regulator here, the Institute of Chartered Accountants of India, is yet to complete its disciplinary committee hearings.
Compilation of Suggested Answers is a subject-wise compilation of answers to questions set in the Institute’s examinations over a number of years. This compilation in the subject of “Financial Management” covers a period of three years – May, 2007 to November, 2009 and contains compilation of suggested answers of six examinations.
