"08 May 2012" Archive

Clarification on service-tax payable where invoice raised before 01.4.2012

Circular No. 158/9/2012 - ST 08/05/2012

Circular No. 158/9/2012 –ST The rate of service tax has been restored to 12% w.e.f. 1st April 2012. Representations have been received requesting clarification on the rate of tax applicable wherein invoices were raised before 1st April 2012 and the payments shall be after 1st April 2012. Clarification has been requested in case of the 8...

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Download ITR-1 (SAHAJ) & ITR-4S (SUGAM) Return Preparation Software

Download Return Preparation Software - Income Tax Department has finally released Return Preparation Software for ITR-1 (SAHAJ) & ITR-4S (SUGAM) which is applicable for A.Y. 2012-13 or financial year 2011-12. The same can be used to file your return online....

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Posted Under: Service Tax |

IT Raids on Nithyananda Madurai Adheenam

Income tax officialson 05.05.2012 conducted a raid at the Madurai Adheenam (mutt) which has been in the limelight following the appointment of the controversial self-styled godman Nityananda as head of the 1500-year-old Saivaite Mutt. Officials said they were conducting the raid on orders from their Delhi counterparts and they had seized ...

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Posted Under: Service Tax |

Download Amendments to Finance Bill 2012 as passed in Lok Sabha

The Finance Minister Pranab Mukherjee on 7th May 2012 introduced amendments to the Finance Bill 2012. The text of the amendments is available. Download Amendments To Finance Bill 2012 As Introduced In Parliament ....

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Posted Under: Service Tax |

Budget 2012- Tax on Subsidiarisation of Indian branches of foreign banks

The Reserve Bank of India is formulating a scheme for subsidiarisation of Indian branches of foreign banks to ring fence Indian capital and Indian operations from economic shocks external to the Indian economic scenario. To support this effort, I propose to provide tax neutrality for such subsidiarisation....

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Posted Under: Service Tax |

Prosecution for dishonoured cheques possible against Company & its functionaries – SC

Aneeta Hada Vs. M/s. Godfather Travels & Tours Pvt. Ltd. (Supreme Court of India)

If the offence is by a Company, arraigning of a company as an accused is imperative: the company can have criminal liability and further, if a group of persons that guide the business of the companies have the criminal intent, that would be imputed to the body corporate. In this backdrop, Section 141 of the Act has to be understood. The s...

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Use of words on a product package, even though they may not serve as brand names, would amount to infringement, if identical or similar to prior registered trademarks

Hawkins Cookers Ltd Vs. Murugan Enterprises (Delhi High Court)

If in the sale it becomes reasonably necessary for the manufacturer of adaptable goods, to refer to the trademark of the relatable goods, such reference would not amount to an infringement of the trademark under which the relatable goods are sold, but has misapplied the evidence on record. The error committed is by proceeding upon the pre...

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Non-brand use amounts to trade mark infringement

Hem Corporation Pvt. Ltd. Vs ITC Limited (Bombay High Court)

The Court held that even if the defendant genuinely intended using the mark only to describe the aroma of the products, it would make no difference if the use of the mark is likely to be taken as a use as a trademark. The use of a registered trademark would constitute an infringement if it indicates a connection in the course of trade bet...

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Notional interest on deposits paid by employer to landlord cannot be considered while computing perquisite value of residential accommodation

Commissioner of Income Tax-26 Vs Shankae Krish Nan (Bombay High Court)

On a plain reading of Rule 3, it is seen that the perquisite value of the residential accommodation provided by the employer is to be computed on actual amount of lease rental paid or payable by the employer and not on notional basis. Therefore, in our opinion, the contention of the revenue that the notional interest on the deposits paid ...

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How to Verify Digitally Signed Certificate on MCA21 portal

1. You will need to click the link 'Verify digitally signed certificate' available on the MCA21 portal home page to view the same. 2. Once the CIN/Company name is entered for the Company for which the Certificate is to be viewed, a list of Forms for which Digitally Signed Certificate is available will be displayed...

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