"07 September 2012" Archive

Exclusion of certain topics from the Paper-7A/6A of IPCC/PCC – Information Technology from November, 2012 examination & onwards

This is to inform all students that while reviewing topics included in the Paper-7A/6A of  IPCC/PCC  – Information Technology, it is observed  that  some of the topics are not at all  relevant in the present day context and thus it has been decided that no question be asked from such topics from November 2012 examination [&hell...

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Posted Under: CA, CS, CMA |

Non-applicability of taxable services in PCE-, IPCE & CA Final for November, 2012 examinations

Non-applicability of taxable services in PCE-Paper 5: Taxation, IPCE-Paper 4: Taxation and Final-Paper 8: Indirect Tax Laws for November, 2012 examinations The Examination Committee at its 497th meeting held in September, 2012 has decided that students appearing in November 2012 examinations will not be examined with respect to specific s...

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Posted Under: CA, CS, CMA |

Overseas Investment by Indian Parties in Pakistan

RBI/2012-13/198 A. P. (DIR Series) Circular No. 25 07/09/2012

In terms of Regulation 6 (2) of the Notification ibid, “Notwithstanding anything contained in these Regulations, investment in Pakistan shall not be permitted.” It has now been decided that the overseas direct investment by Indian Parties in Pakistan shall henceforth be considered under the approval route under Regulation 9 of the Not...

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Procedure & Documents Required for Service Tax Registration

The assessee shall make an application in form ST 1 to the Superintendent of Central Excise in duplicate. Such application can be filed online www.aces.gov.in. For this the following procedure shall be adhered to : ...

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Automatic Excel Utility with individual Salary sheet + form 16 + 12BA for A.Y. 2013-14

This utility can be used for Government and Non Government Employees. Utility Automatically Prepares for 16, Form 12BA, Calculates TDS deductible, HRA Exemption , Deduction Under Chapter VIA etc.Utility is for Assessment year 2013-14 or Financial Year 2012-13 and can be used for upto 50 Employees. ...

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Change in Constitution of dispute resolution panel – Order No. 9 /FT&TR/2012

Order No. 9/FT&TR/2012 07/09/2012

Order No. 9/FT&TR/2012 Vide Order No. 9/FT&TR/2012 dated 07.09.2012, the CBDT has directed a change in the Constitution of the Dispute Resolution Panel in Delhi, Mumbai, Ahmedabad, Pune, Kolkota, Bangalore, Hyderabad and Chennai with effect from 24.08.2012...

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VAT (What) is the confusion all about on sale of flats – Part 2

It need not be said that taxation of works contract has always been a vexatious issue. As if controversy pertaining to Works contract wasn’t enough, the government in a clever move to bolster revenue, brought within its purview transactions relating to sale of under-construction properties w.e.f. 20th June, 2006, as discussed in previou...

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Service Tax not to be included in Turnover U/s. 44BB for calculation of deemed Profit

DDIT Vs. M/s Mitchell Drilling International Pty. Ltd. (ITAT Delhi)

As regards reimbursement of amount in respect of service tax, as pointed out by the ld. AR, the ITAT Delhi Bench in their decision in Technip Offshore Contracting BV(supra) concluded that service tax collected by the assessee being directly in connection with services or facilities or supply specified u/s 44BB of the Act provided by the a...

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No TDs deduction U/s 194H on Foreign Commission to Non-Resident

ACIT Vs. Nidhi Exports (ITAT Delhi)

No TDS was required to be made because payment of commission are made to non-resident overseas agent. As such no income is arising to the non-resident agent in India. So, no TDS is deductible u/s 194H of the Act, which is applicable for resident Indians only, even the provisions of section 195 is not applicable as payments are made to non...

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