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Archive: 03 July 2013

Posts in 03 July 2013

CG notifies Himachal Pradesh Electricity Regulatory Commission for sec. 10(46) exemption

July 3, 2013 331 Views 0 comment Print

Notification No. 49/2013 – Income Tax In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961) the Central Government hereby notifies for the purposes of the said clause, the Himachal Pradesh Electricity Regulatory Commission, a Commission established by the Central Government of Himachal Pradesh, in respect of the following specified income arising to that Commission, namely:-

CG notifies Odisha Electricity Regulatory Commission for sec. 10(46) exemption

July 3, 2013 703 Views 0 comment Print

Notification No. 48/2013 – Income Tax (a) amount received in the form of Government grants; (b) amount received as licence fee from licensees in electricity; (c) amount received as application processing fee; and (d) interest earned on Government grants and fee received.

Download ITR – 7 for Online Filing AY 2013-14

July 3, 2013 6355 Views 0 comment Print

 Income Tax Department has released Income Tax Return (ITR )  7  as Applicable for persons including companies required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D) for e-filing of Returns for A.Y. 2013-14 of Financial Year 2012-13. ITR form can be downloaded from the website .

Services Provided to SEZ Authorised Operations Exempted From Service Tax

July 3, 2013 2681 Views 1 comment Print

Services Provided to Special Economic Zone (SEZ) Authorised Operations Exempted From Service Tax The Central Government has decided to exempt the services on which service tax is leviable under section 66B of the said Act, received by a unit located in a Special Economic Zone (hereinafter referred to as SEZ Unit) or Developer of SEZ […]

Service Tax on AC Bar Restaurants & Accommodation Hotels Providing is Unconstitutional

July 3, 2013 4843 Views 0 comment Print

high court of kerala declares the levy of service tax on ac bar restaurants and on hotels providing short term accommodation as unconstitutional and beyond the legislative competence of the parliament

No section 43B disallowance for PF deposited within permissible grace period

July 3, 2013 777 Views 0 comment Print

Explore Zyg Pharma vs. DCIT case – Sales tax waiver taxability and provident fund delay. Learn about ITAT Mumbai’s decision on these income tax matters.

Dividend Distribution Tax and Related Tax Provisions

July 3, 2013 5905 Views 0 comment Print

What is Dividend Distribution Tax? Section 10(34) of the Income Tax Act, 1961 declares that in addition to the income tax paid by a domestic company against the total income for any assessment year, any amount declared, distributed or paid by such company in form of dividends, is subject to additional tax known as Dividend Distribution Tax. DDT is also applicable to debt mutual funds and is the tax that debt funds pay on the dividend distributed to retail investors.

Seeks to levy anti-dumping duty imposed on imports of ‘Poly Vinyl Chloride Resin, originating in, or exported from, European Union

July 3, 2013 721 Views 0 comment Print

Whereas, in the matter of levy of anti-dumping duty on Poly Vinyl Chloride Paste Resin also called as PVC Emulsion Resin (hereinafter referred to as the subject goods), falling under sub-heading 3904 22 10 of the First Schedule to the Customs Tariff

Notification No. 14/2013-Customs (ADD), dated 3rd July, 2013

July 3, 2013 3885 Views 0 comment Print

Whereas in the matter of import of Acetone (hereinafter referred to as the subject goods), falling under tariff item 2914 11 00 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the said Customs Tariff Act) ,

Implications of Service Tax on the Printing Industry

July 3, 2013 77408 Views 11 comments Print

CA Anuj Mehta WHETHER SERVICE TAX IS APPLICABLE ON PRINTED BOOKS BY PRINTING PRESS?    First we need to understand what is service? In the new regime, all services, other than services specified in the Negative List, provided or agreed to be provided in the ‘taxable territory’ by a person to another would be taxed. […]

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July 2013