"May, 2013" Archive - Page 8

Trade Mark Registration Procedure, Benefit and Applicability

Any person claiming to be the proprietor of a trade mark used or proposed to be used by him may apply in writing in prescribed manner for registration. The application should contain the trade mark, the goods/services, name and address of applicant and agent (if any) with power of attorney...

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Posted Under: Corporate Law |

Experience Executive Lounges at Stations but With Service Tax

When you travel next by train, you will be pleased to see as a surprise, 'Executive Lounges' at railway stations, just like the ones at the airports which tempt you walk in and experience the whole new world of railway hospitality. ...

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Posted Under: Corporate Law |

Procedure for Formation of Private Limited Company in India

Selection of name for the proposed company: The Promoters have to provide at least 6 names in the order of their preference/priority. The promoters can themselves search for the available names by visiting the MCA website. ...

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Posted Under: Corporate Law |

Liberalised Remittance Scheme for Resident Individuals – Reporting

RBI/2012-13/504 A. P. (DIR Series) Circular No. 106 (23/05/2013)

AD Category -I banks were required to furnish information on the number of applications received and the total amount remitted under the Liberalised Remittance Scheme (the Scheme), on a monthly basis...

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Tax Residency Certificate (TRC) – In its new version

Provisions of requirement of Tax Residency Certificate were introduced last year. The Finance Minister has attempted to make changes to the existing provisions. The author analyses the changes that are proposed and the possible effects. ...

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Posted Under: Corporate Law |

Transfer Pricing – OECD revises Safe Harbouring Guidelines

The existing language of Section E (paragraphs 4.93 through 4.122) would be removed and replaced with the following language. The enumeration of paragraphs of Section F would be adapted accordingly....

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Posted Under: Corporate Law |

SC dismisses ICAI’s SLP on ceiling on number of tax audits

Inst.of Chartered Accountants of India Vs K. Bhagavatheeswaran & ANR. (Supreme Court of India)

These appeals have been preferred against the impugned judgment and order dated 24.3.2005 passed in Writ Appeal No .1452 & 1453/1998 by the High Court of Madras quashing the notifications issued by the appellant by which it has quashed the notifications dated 25.5.1987 and 13.1.1989 by which certain regulatory measures have been taken by ...

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Online Empanelment with Vijya Bank for Concurrent Audit

Chartered Accountant firms for selection of Concurrent Auditors of the branches/offices - Vijya Bank calls applications from Chartered Accountant firms for selection of Concurrent Auditors of the branches/offices for the period from 01.07.2013 to 30.06.2014....

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Posted Under: Corporate Law |

Income already offered for taxation cannot be taxed again as undisclosed income

M/s Ramji Dass Darshan Kumar Ltd. Vs Income Tax Officer (ITAT Delhi): ITA No. 5070/Del/2012

It is contended by the learned counsel that the sum of Rs. 16 lakhs added by the Assessing Officer as undisclosed income has already been offered as income by the assessee by way of forfeiture of booking advance....

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Expense cannot be disallowed merely because assessee named it as short recovery and not bad debt

Income Tax Officer Vs Shri Rajinder Singh Sethi (ITAT Delhi)

The undisputed facts are that the assessee was to receive the sum of 74,30,575/- from CCIL towards crane hire charges. However, actually, the assessee could receive only 58,39,011/-. The Revenue has not disputed the correctness of the assessee's contention that it could not recover the sum of Rs. 16,66,081/-. ...

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