Penalty under section 271(1)(c)-Concealment-Disallowance of expenses due to delay in payment of TDS-The disallowance of expenditure does not amount to concealment of income or furnishing of inaccurate particulars of income.
Income deemed to accrue or arise in India-Under section 9(1)(vi)-Income from supply of software to clients in India-Where assessee was engaged in sale of copyright software then income from such sale cannot be treated as royalty under section 9(1)(vi) particularly where assessee did not have any PE in India.
The new legislation, introduced in Parliament on Monday, says an individual shall be resident in India in any financial year if he is in the country for more than 59 days in that year and has been in India for more 365 days in the four preceding fina
The finance ministry has slapped a tax notice of about Rs 758 crore on Delhi Development Authority (DDA) for allegedly not paying service tax since 2007. “We have issued demand-cum-show cause notice to DDA on August 31, 2010 for not paying service tax on lease of immovable property and club or association service,” a revenue department source told PTI.
After wooing the urban poor here with its ‘One Rupee Bank’ account, State Bank of India (SBI) is now aggressively targeting the crorepatis. The government lender has inaugurated first-of-its-kind branch for high net worth individuals (HNIs), where it
Market regulator Sebi said that trading of shares of companies going for a merger, demerger or a change in capital structure will have to be done in a price range for the first ten days of post-restructuring, in a move aimed at curbing volatility in
Shri Salman Khurshid, Minister for Corporate Affairs, has said that Corporate Social Responsibility (CSR) is to be taken from ‘Company’s Vision’ to ‘Country’s Vision’. Inaugurating the 38th National Convention of Company Secretaries in Kolkata yester
This was decided in the historic 150th Meeting of the ESI Corporation under the chairmanship of Shri Mallikarjun Kharge, Hon’ble Minister of Labour & Employment, Govt. of India, today at ESIC Headquarters, New Delhi. Shri Harish Rawat, Hon’ble Minist
The Central Board of Direct Taxes (CBDT) has decided to extend the time Limit for filing ITR-V forms relating to income-tax returns for A.Y. 2009-10 filed electronically (without digital signature) on or after 1st April 2009. These ITR-V forms can no
In respect of the other two schemes, namely, Easy Exit Schemes, 2010 and Company Law Settlement Scheme 2010, the Institute has requested for extension of time for availing of the two schemes.
