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Archive: 25 November 2011

Posts in 25 November 2011

Free YouTube Live on The global landscape –  from market’s to trade

May 24, 2024 1122 Views 0 comment Print

Join us for an insightful and dynamic YouTube Live session on “The global landscape –  from market’s to trade.” with renowned financial analyst Ankit Baid, MBA Finance. The presentation explores shifting of the global economic landscape, focusing on the decline of US dominance and the rise of China. It examines the potential decrease in global […]

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7677 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Service Tax dues of predecessor can be recovered from purchaser/successor of assets if he agreed to bear all statutory liabilities

November 25, 2011 4625 Views 0 comment Print

Though the proviso to section 11 was inserted by section 80 of the Finance (No. 2) Act, 2004 w.e.f. 10-9-2004, and sought to incorporate the machinery provision for recovery of sums due to government under the Act earlier incorporated in Rule 230(2), it is only an enabling provision for recovery of sums due to the government by which the Central Excise Department is permitted to attach and sell all excisable goods, materials, preparations,

Background Material on Cabinet Decision on The FDI in Retail

November 25, 2011 612 Views 0 comment Print

Rationale for enhancing FDI ceiling to 100% in single brand retail trading. In the last 5 years, under the current regime of 51% FDI in single brand retail, foreign direct investment of only US$ 44.45 million have been received, constituting barely 0.03% of total FDI inflows. Globally, single brand retail follow a business model of 100% ownership and global majors have been reluctant to establish their presence in a restrictive policy environment. The current cap of 51% confers a right to pass all ordinary resolutions, while enhancing

MVAT: Correction of dealers mistakes or miscellaneous refunds of excess payment

November 25, 2011 18794 Views 9 comments Print

The payment of tax under MVAT Act, 2002 and CST Act, 1956 by way of e-payment has been made from March, 2011. it has been reported to this office by some of the dealers that they have made certain mistakes while making e-payment leading to incorrect / inaccurate / inappropriate tax payments. They have accordingly approached this office for rectification of the said mistakes. Considering the genuine difficulty faced by the dealers, it was decided to lay down a procedure for correction of mistake so committed as under-

Penalty / Fine for violation of procedural law cannot be disallowed- Bombay HC

November 25, 2011 7656 Views 0 comment Print

CIT vs. The Stock and Bond Trading Company (Bombay High Court)- Payments made by the Assessee to the Stock Exchange for violation of their regulation are not an account of an offence or which is prohibited by law. Hence, the invocation of explanation to section 37 of the Income Tax Act, 1961 is not justified. In our opinion, in the facts and circumstances of the present case, no fault can be found with the decision of the ITAT.

ICSI – Online change of Address by the Members

November 25, 2011 1569 Views 0 comment Print

This has a reference to the ongoing initiative of the Institute for automation. In this regard, the facility for online change of address of the Members has also been added to the list of services already being provided through our portal www.icsi.in. The new services can be used by the Members for changing both residential and professional address, email id and contact details. Further to this, the letter of admission as an Associate Member of the Institute has also been automated and shall be available through the same portal.

Notification No.G.S.R. 846 – Income Tax Dated 25/11/2011

November 25, 2011 325 Views 0 comment Print

Notification No.G.S.R. 846/2011 – Income Tax In exercise of the powers conferred by section 15 of the Government Savings Banks Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Time Deposit Rules, 1981, namely

Notification No.G.S.R. 845 – Income Tax Dated 25/11/2011

November 25, 2011 277 Views 0 comment Print

Notification No.G.S.R. 845/2011 – Income Tax In exercise of the powers conferred by section 15 of the Government Savings Banks Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office (Monthly Income Account) Rules, 1987, namely

Notification No.G.S.R. 844- Income Tax Dated 25/11/2011

November 25, 2011 463 Views 0 comment Print

Income Tax In exercise of the powers conferred by sub-section (4) of section 3 of the Public Provident Fund Act, 1968 (23 of 1958), the Central Government hereby makes the following further amendment to the Public Provident Fund Scheme, 1968, namely

Notification No.G.S.R. 843 – Income Tax Dated 25/11/2011

November 25, 2011 334 Views 0 comment Print

Notification No.G.S.R. 843/2011 – Income Tax In exercise of the powers conferred by section 15 of the Government Savings Bank Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Recurring Deposit Rules, 1981, namely

Notification No.G.S.R. 842 – Income Tax Dated 25/11/2011

November 25, 2011 274 Views 0 comment Print

Notification No.G.S.R. 842/2011 – Income Tax In exercise of the powers conferred by section 12 of the Government Savings Certificates Act, 1959 (46 of 1959), the Central Government hereby makes the following rules further to amend the National Savings Certificates (VIII Issue) Rules, 1989, namely

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