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An unnecessary complication has been created by the interpretation made of section 40 (a) (i) of the Income Tax Act read with section 195 of the Act by both the appellant and the respondents. First of all, a proper meaning has to be ascribed to the expression “chargeable” under the provisions of this Act. Section 195(1) says that, if any interest is paid by a person to a foreign company, which interest is chargeable under the provisions of this Act tax should be deducted at source.
It is submitted that destination charges or ground handling charges were collected by MSIL for storage and warehousing service in relation to the clearance of goods. The service formed an integral part of service relating to clearance of goods and the charges were towards storage and warehousing.
The income tax department has ordered a special audit of the accounts of Commonwealth Organising Committee after detecting multiple violations of procedures. A detailed analysis of books of accounts was required to ascertain the extent of non-compliance by the committee, a tax department official told to media.
The income tax (I-T) department is still waiting for members of Adarsh Cooperative Housing Society to submit details of the investment they have made in flats in the 31-storeyed tower. The department had issued notices to the Colaba housing society’s members asking six questions related to their flats, the investment made in them and other details such as tax returns filed and Permanent Account Numbers (PAN).
An Enforcement Directorate raid on a sister concern connected with the Commonwealth Games scam is not a ground to terminate a contract, a division bench of the Delhi high court has declared. The Apparel Export Promotion Council had invited tenders and offered the contract for the February 2011 textile fair to an events management company, Meroform (India) Ltd. Later there was a telecast in private channels that its sister company was raided in scam investigation. Citing this telecast, the council declined to give the contract to the events management company, though large amounts were spent by it. It moved the high court challenging the termination of the contract. The court stated that the council’s decision was illegal. However, it did not grant any monetary relief to the affected company and pointed out that the remedy lay in the civil court.
No.F. 5(54)/Policy-II/VAT/Amendment/2010/ 1790-1800 -WHEREAS the Commissioner, Value Added Tax, Dept. of Trade & Taxes, Govt. of the National Capital Territory of Delhi, being of the opinion that it is expedient in the interest of general public, so to do in exercise of the powers conferred by section 103 of the Delhi Value Added Tax Act, 2004, (Delhi Act 3 of 2005), amended Act, 2009 (Delhi Act 01 of 2010) hereby, makes the following amendments in the Sixth Schedule of the Act, namely:-
Election to the 11th Council of the ICSI held on 10th & 11th December, 2010 – Notification regarding declaration of result
Under the Industries (Development & Regulations) Act 1951, the Department of Industrial Policy & Promotion (DIPP), issues licenses for certain licensable products. With a view to ensure enhanced public access and transparency as well as to implement
The exporters of Grapes covered by ITC HS Code 0806 are entitled for additional 2% Duty Credit Scrip, over and above the normal rate under the VKGUY Scheme. This shall apply in respect of exports made on or after the date of this Public Notice.
The 10th ICSI National Awards for Excellence in Corporate Governance for 2010 were presented at a function at New Delhi on the December 16, 2010 to : Dr. Reddy’s Laboratories Limited & Larsen & Toubro Limited Mr. Umang Vohra, Chief Financia
