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Archive: 13 April 2013

Posts in 13 April 2013

Compulsory acquisition of Land – Assessee not liable to deduct TDS u/s. 194LA on remittance to Competent Authority

April 13, 2013 13556 Views 0 comment Print

In the present case, the payment to the actual beneficiary is made by the Competent Authority of Metro Railways Kolkata and not by the Dy FA and CAO of Metro Railways Kolkata. No doubt, the tax deduction obligations are on the person who makes payment to the beneficiary, and it was an undisputed position that the payment for land acquisition was made by the Land Acquisition Officer. In this matter, Hon’ble Court also observed that the tax deduction obligation are on the person who “had money in his possession and was responsible for making the payment of that income to the assessee (i.e. actual beneficiary of compensation in this case).” It is important to bear in mind the fact that the assessee is this case was the person receiving the compensation in his own right and not in any fiduciary capacity. Therefore, even going by this principle, the tax deduction liability is on the Competent Authority of Metro Railways Kolkata who makes the payment to the person receiving compensation.

File Online RTI Application, Payment of Fees, Guideline, FAQ

April 13, 2013 10222 Views 5 comments Print

In this Article we have discussed how one can file Online RTI Application and Pay the RTI application Fees. We have further provided Instructions for Filing Online RTI Application / payment & Frequently asked questions related to the same. In a step towards greater transparency, the government has started a unique facility of submitting RTI […]

Exemption u/s 54F when the capital amount invested in two adjacent residential flats

April 13, 2013 2130 Views 0 comment Print

We have applied the above ratio to the facts of the instant case and find the two flats in question are not adjacent and they are not functionally one residential house with two adjacent units. Revenue has not brought any contrary decision to our notice. Considering the settled nature of the issue, we are of the opinion, the order the CIT(A) does not call for any interference on this issue.

CBEC extends last date of e-filing of Service Tax Return for July-Sep 2012 to 30.04.2013

April 13, 2013 3480 Views 0 comment Print

Due date for filing of service tax returns in Form ST-3 for the period 1st July, 2012 to 30th September 2012 was extended from 15th April, 2013 to 30th April, 2013. Considering the difficulties in filing returns, causing inconvenience to the assessee, the CBEC had revised the due date of  filing ST-3 Return. CBEC extends […]

Buy Back of Shares – bye bye Mauritius

April 13, 2013 6181 Views 0 comment Print

Mauritius is always a favourite among tourists across the world. However, Mauritius is also famous among worldwide investors for their tax friendly environment. As per an estimate 40% of portfolio inflows in India are coming from Mauritius. Like Mauritius, other tax havens i.e. Cyprus, Switzerland etc.

Advertisement charges paid to Google & Yahoo not taxable as website cannot constitute a PE in India

April 13, 2013 6060 Views 0 comment Print

The service which is rendered by the Google is generation of certain text on the search engine result page. This is a wholly automated process. There is no dispute that in the services rendered by the search engines, which provide these advertising opportunities, there is no human touch at all. The results are completely automated and, as evident from the screenshots we have reproduced earlier in this order, these results are produced in a fraction of a second- 0.27 seconds in the screenshot reproduced earlier.

ICAI reduces senior member age to 60 years for subsidized annual membership fees

April 13, 2013 1429 Views 0 comment Print

The Council of the Institute has decided to reduce the age from 65 years to 60 years for treating a member as Senior Citizen for the purpose of payment of annual membership fee and certificate of practice fee. Accordingly, for the words and figure age of 65 years appearing in the proviso of both the aforesaid Notifications, the words and figure age of 60 years have been substituted.

IRDA amends Insurance Surveyors & Loss Assessors Regulations

April 13, 2013 24338 Views 11 comments Print

The license granted by the Authority may be cancelled by the Authority where the surveyor and loss assessor does not represent within a period of 45 days from the date of order of suspension.

Writ petition not maintainable if effective alternate remedy available

April 13, 2013 841 Views 0 comment Print

Law is well settled that in case of an order passed by an authority, who has no jurisdiction to pass such order, this Court can intervene and set right the things exercising the power conferred under Article 226. But, the case of the petitioner is that the respondent has wrongly calculated service tax based on the amount shown in the trial balance sheet and included the property tax and income from other sources, which are excluded from the purview of service tax

Rating Agency held guity of discrimination for not measuring its TRP in rural areas

April 13, 2013 405 Views 0 comment Print

Next issue to be considered is whether there was prima facie abuse of dominant position by OP. Section 4 of the Competition Act provides that there shall be an abuse of a dominant position, if an enterprise directly and indirectly discriminates in providing services to the customers or restricts technical development relating to services to the prejudice of the customers (section 4(2)(b)(i), section 4(2)(b) (ii)) or indulges in practice resulting in denial of market access in any manner to a customer (section 4(2)(c)).The installation of people’s meter by opposite party only in cities catches mood of urban viewers and gives a distorted picture of the viewership PAN India.

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