AAR held that income received by a foreign company for procurement support services rendered by its Indian office in connection with purchase operations undertaken by other foreign company in India, is taxable in India.
The Parliamentary Standing Committee on Finance, which is examining the Companies Bill, has had 16 meetings so far and understood to have reached an advance stage in finalising its report. Mr R. Bandhyopadhyay, Secretary, Ministry of Corporate Affairs, told reporters here on Saturday that the Ministry was awaiting Parliamentary debate after the committee placed it report to the Houses.
Delhi High Court has again granted stay to Home Solution Retail (I) Ltd. in W.P. (C) No. 3398 of 2010 on 18.05.2010 from payment of service tax on renting of immovable property. The stay is not on services in relation to renting but on renting per se.
A special CBI court on Thursday rejected the anticipatory bail of income tax commissioner Anirudh Rai, who had come under the scanner in a corruption case involving his two juniors.CBI joint director Rishi Raj Singh said the CBI was yet to decide whether to arrest Rai, an Indian Revenue Service officer. “We have not yet questioned him as he had moved the court. We will decide on the arrest after questioning him,” Singh said.
It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.Amendment of section 4 of Act 39 of 1972.2. In section 4 of the Payment of Gratuity Act, 1972, in sub-section (3), for the words “three lakhs and fifty thousand rupees”, the words “ten lakh rupees” shall be substituted.
Under pressure from the government to reveal the surrogate nature of its practices in India, senior officials from PricewaterhouseCoopers have sought a meeting with the corporate affairs minister Salman Khurshid next week to clarify its position.
A leading NRI group on Tuesday asked India to reconsider new rules that require them to surrender their Indian passports within 90 days upon acquisition of US citizenship, arguing these bring “undue and unnecessary” burden on the community.
Since I was a student of law, I was hearing from many legal professionals and the people in the society that it is very difficult to make money in legal profession and survival would be really difficult. I have started my little journey in legal profession without any reference and the legacy. I have seen many and observed many advocates before lower courts, High Court and various other forums.
In partial modification of the Instruction No. 55 dated 5th May, 2010 issued by the Department of Commerce on the above mentioned subject, this is to clarify that off-site employees of SEZ may be permitted to work from home or from place outside the SEZ subject to the same conditions as prescribed in the instruction.
The Companies Act, 1956, though it requires some reforms as mooted through Companies Bill, 2009, is one of the finest legislations. Each provision or the section under the Companies Act, 1956 has a sound logic though there exist very few sections which are to be deleted or modified suitably.
