The salient features of the impugned case have already been noted by us namely, that the assessee is a Co-operative Society, set up by the Government of Punjab registered under the Punjab Co-operative Societies Act, 1961. The Assessing Officer has duly noted that its primary business is to grant loans to members in Urban and Rurah Co-operative Housing Societies of the State of Punjab for construction of houses and Housing Complexes. The assessee has been ea
he applicant (hereafter referred to as `AAI’) which is a Public Sector Undertaking set up under the Airport Authority of India Act has entered into a contract dated 11/12/2007 for “Automation Upgrade for third runway at IGI Airport, New Delhi” with Raytheon Company USA, (hereafter referred to as `Raytheon’). The contract involves Raytheon supplying h
Whether the compensation payable to Hellmuth, Obata + Kassabaum L.P., USA under clause VA of the Agreement dated October 15, 2008 can be disintegrated in three parts; viz., (a) for development and sale of designs (b) consultancy for construction documents, and, (c) for `Construction administration’ and `additional services’?
We are conscious of the circumstance that in the present case the re-opening of assessment is sought to be effected within a period of four years of the expiry of the relevant assessment year. However, it is now a well settled position of law that a mere change of opinion would not justify the Assessing Officer in seeking a recourse to the powers under Section 1
Whether the profits/losses from futures and options contracts (derivative transactions) carried out on the Indian Stock exchanges are in the nature of “Business income” in the hands of the applicant under the provisions of the Act read with the Agreement for Avoi
Accounting profession watchdog Institute of Chartered Accountants of India (ICAI) will seek an amendment to the Chartered Accountants Act to expand its regulatory powers to cover audit firms. Currently, the institute has powers to regulate only its members — chartered accountants — but does not have a specific mandate under law to oversee audit firms operating in the country.
The cumulative gross exposure through equity, debt and derivative positions should not exceed 100% of the net assets of the scheme. Mutual Funds shall not write options or purchase instruments with embedded written options.The total exposure related to option premium paid must not exceed 20% of the net assets of the scheme.
1. Download Affidavit (to be given individually by director(s)) (As per annexure A of the Easy Exit Scheme 2010). 2. Download Indemnity bond (to be given individually or collectively by director(s) (As per annexure B of the Easy Exit Scheme 2010)
The Indian Income Tax department on Monday told the division bench of the Bombay High Court that it has the jurisdiction to levy tax on the $11-billion acquisition of Indian telecom major Hutch-Essar by Vodafone. The division bench has been hearing a petition filed by Vodafone against the Income tax department
The availability of password-cracking tools based on increasingly powerful graphics processors means that even carefully chosen short passwords are liable to crack under a brute-force attack. A password of less than seven characters will soon be “hopelessly inadequate” even if it contains symbols as well as alphanumerical characters, according to computer scientists at the Georgia Tech Research Institute. The security researchers recommend passwords at least 12 characters long.
