"03 March 2013" Archive

Budget 2013-14 Two more services included in negative list for Service tax

Two more services have been included in the negative list for service tax. These are: Vocational courses offered by institutes affiliated to the State Council of Vocational Training; and, testing activities in relation to agriculture and agricultural produce....

Read More
Posted Under: Service Tax | ,

Theme of Tax Proposals in Union Budget 2013-14

CLARITY IN TAX LAWS, STABLE TAX REGIME, NON-ADVERSARIAL TAX ADMINISTRATION, DISPUTE RESOLUTION AND INDEPENDENT JUDICIARY – THE THEME OF TAX PROPOSALS Presenting the Union Budget in the Parliament today, the Finance Minister Shri P.Chidambaram underlined the theme of the tax proposals to be based on the following parameters:-...

Read More
Posted Under: Service Tax |

Tax Administration Reforms Commission To Be Set Up -FM

The Finance Bill 2013-14 proposes to set up a Tax Administration Reforms Commission(TARC). Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.Chidambaram said that proposed Commission will review the application of tax policies and tax laws. TARC will submit periodic reports that can be implemented to strength...

Read More
Posted Under: Service Tax |

Work On Direct Taxes Code (DTC) In Progress

The Finance Minister Shri P.Chidambaram has said that the work on Direct Taxes Code (DTC) is in progress. Presenting the Union Budget in the Lok Sabha today, he said that the DTC is not intended to be an amended version of the Income-Tax Act, 1961 but a new code based on the international practices that […]...

Read More
Posted Under: Service Tax |

Budget 2013-14- An Analysis of Service Tax Proposals

The definition of “process amounting to manufacture or production” in section 65B(40) is being expanded to include processes under the Medicinal and Toilet Preparations (Excise Duties) Act, 1955....

Read More
Posted Under: Service Tax |

Budget 2013 – Impact on Direct tax Provisions

Rebates/ Deductions/ Incentives for Individuals Tax rebate of Rs. 2,000 for Resident Individuals for FY 2013-2014 Total Income does not exceed Rs. 5 lacs...

Read More

How to Remove Password of PDF / ITR File

As we all know to open Income tax Return Acknowledgments we have to insert password every time we open the file. So we must be aware of password every time we have to open these files. We can remove such password from the PDF/ ITR files so that we do not have to insert password every time we wants to view / open such files. ...

Read More

Budget 2013-14 -Double taxation on transfer of immovable property for inadequate consideration?

Devang K. Shah Finance (No. 2)  Act , 2009 introduced taxation of certain transactions involving transfer of any property, including immovable property as income from other sources in the hands of the recipient, being Individuals / HUFs. The rationale behind it was to tax anything which is received in kind having ‘money’s worth’, w...

Read More
Posted Under: Service Tax |

Routing of transactions through Paper Company outside India is Violation of FERA Provisions

Telestar Travels (P.) Ltd. Vs Special Director of Enforcement (Supreme Court of India)

According to Mr. Diwan, no real basis for the Adjudicating Authority and the Tribunal to hold that Bountiful was a paper company and that it was being controlled by the Desais from India. Mr. Diwan made a strenuous attempt to persuade us to reverse the findings of fact recorded by the Adjudicating Authority and the Tribunal on this aspect...

Read More

AO may ignore Inspector’s report while estimating the rate of plots with which respondent had not been confronted

Commissioner of Income Tax - XI Vs Delhi House And Finanace Corporation (Delhi High Court)

It is also pertinent to note that he had only made verbal inquiries with regard to the prevailing market rate of the property and had not collected any instances of actual sales in the said areas. Furthermore, the inquiry that he made was as on the date of his visit, that is on 02.03.2006, whereas the sales had taken place in the financia...

Read More

Search Posts by Date

October 2021
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031