It has been ‘mentioned that many builders charge additional amount known as “floor rise charges” in addition to the normal sale price of a flat. It is also mentioned in your letter that the said charges are recovered for additional construction cost for floor rise because the construction cost increases as per the increase in the floor.
The Income Tax Department is observing the first fortnight of September, 2012 starting from 03/09/2012 to 14/09/2012 as “Demand Management Fortnight”. In this regard a single window grievance cell has been set up to receive, acknowledge, and monitor grievance petitions pertaining to demand adjustment by CPC Bangalore for entire CCIT (CCA) Delhi Region. All taxpayers having a grievance pertaining to incorrect arrears demand communicated / adjusted by CPC, Bangalore are required to contact to the following officer.
The government today said it has served show cause notices to manufacturers of pharmaceutical products who have failed to pay service taxes worth hundreds of crores of rupees.
On facts, we find that the assessee ought to have maintained a separate account in respect of raw material which it had sold during the assessment year. If the assessee had maintained a separate account, then, in that event, a clear picture would have emerged which would have indicated the income accrued from the manufacturing activity and the income accrued on the sale of raw material.
Where the assessee has maintained the Attendance Register of labourers shown the ledger account of labour charges and office expenses, which were all duly produced before the AO and also placed before us which contained the details of wages paid to and accepted by the labourers, no defect in the same has been pointed by the revenue. The action to make the ad hoc disallowance @5% qua the same and 10% in the case of office expenses on the reasoning that to curb the possibility of revenue leakage and seems excessive respectively is arbitrary which cannot be supported in law.
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 […]
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 services in the area of service […]
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 Notification, ibid.
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 :
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.
