In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do
Renting of Immovable property has been taxed under the earlier tax regime vide Section 65 (105) (zzzz). Renting of immovable property has been brought into tax net vide Notification No. 23/2007-ST dated 01.06.2007. But After 1.7.2012, the transition involves shift from taxation of 119 service-specific descriptions to a new regime whereby all services will be taxed unless they are covered by any of the entries in the negative list or are otherwise exempted
Real estate transactions in recent past have attracted the attention of Central & State Governments. New provisions under Income tax, Wealth tax, Service tax, Value added tax & revised guidelines for registration are examples of attempts on the part of the Government to raise more & more revenue from real estate transactions.
MEANING OF IMPAIRMENT OF ASSETS In conformity with AS-28 impairment of assets means reduction in value of assets due to any market factors or performance of assets. It is applied to fixed assets including intangible assets. As per the provisions, the following assets are specifically excluded out of coverage of Impairment Rules:- Inventories (valuation as […]
In order to discuss, Advocates is the only recognized class of persons entitled to Practice the profession of Law. It will be imperative to go through the Advocates Act, 1961, The Indian Power of Attorney Act, 1882 and The Constitution of India.
In order to discuss, legal binding / judicial discipline and Contempt of Court a reality. It will be imperative to go through the Constitution of India. Article 141- Law declared by Supreme court to be binding on all courts- The law declared by Supreme court to be binding on all courts within the territory of India.
Section 7(2)- Any dealer liable to pay tax under the sales tax law of the appropriate state, or where there is no such law in force in the appropriate state or any part thereof, any dealer having a place of business in that state or part, as the case may be, may, notwithstanding that he is not liable to pay tax under this act, apply for registration under this Act to the authority referred to in sub-section (1), and every such application shall contain such particulars as may be prescribed.
In order to discuss Tax Collection in Uttarakhand, it will be imperative to go through the Preamble of The Uttarakhand VAT Act, 2005, The Uttarakhand (U.P. Taxation and Land Revenue Laws Act, 1975) Adaption and Modification Order, 2002, The Uttarakhand Tax on Entry of Goods into Local Areas Act, 2008, Interpretation of statutes, The Constitution of India.
Yesterday we wrote an article on my experience of E-filing of Tax audit report and received a very interesting question – Is there any need to file tax audit report u/s 44AD? I have analyzed the case and framed the following opinion:- 1. A proviso is added to rule 12(2) w.e.f. 01/04/2013 and the same […]
Business scandals involving high profile organizations such as Enron and WorldCom have rocked the corporate world and be-come front-page news. This has shaken consumer confidence in both business leaders and the economy, creating concern about business ethics and governance. As a result, corporate social responsibility (CSR) has become increasingly important. Corporate Social Responsibility is a […]
