"19 December 2013" Archive

ICAI Newsletter on Service Tax Voluntary Compliance Encourage Scheme, 2013

As you are aware, the Government in this year has brought one time amnesty scheme in service tax, namely, Service Tax Voluntary Compliance Encouragement Scheme, (STVCES) 2013, which will enable many assessees to pay tax without interest and penalty. The Institute is always instrumental in facilitating the Government in policy making and...

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Posted Under: Service Tax |

SEBI : Rationalization of Periodic Call Auction for Illiquid Scrips

CIR/MRD/DP/38/2013 19/12/2013

. make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision;...

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SEBI : Declaration and Undertaking regarding PCC, MCV or equivalent structure by FIIs

CIR/IMD/FIIC/21/2013 19/12/2013

The custodians are requested to bring the contents of this circular to the notice of their respective FII clients for necessary compliance....

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SEBI : Deposit Requirements for members of the Debt Segment

CIR/MRD/DRMNP/37/2013 19/12/2013

Provided further that no deposit shall be payable in case a CM / SCM clears and settles trades only on gross basis for both securities and funds, and where no settlement guarantee is provided by the clearing corporation....

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Notification No. 95/2013 – Income Tax Dated 19/12/2013

Notification No. 95/2013 - Income Tax 19/12/2013

Notification No. 95/2013 - Income Tax S.O. 3730(E).—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 Kerala State AIDS Prevention Society, a body constituted by the ...

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CA / CMAs only can conduct Audit under Service Tax not the Dept. Officers : HC

M/S A.C.L. Education Centre (P) Ltd. Vs Union of India (Allahabad High Court)

In case of private assessee, the Commissioner will refer the matter to an officer to collect the material or Chartered Accountant for the purpose of audit. Thus, for the purpose of audit, the material can be collected either by the officer authorized by the Commissioner or by the Auditor himself. But, audit will be performed only by the C...

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Delhi VAT : Dealers to Submit Details of Events to be Organised in advance

Notification No. F.3(393)/Policy/VAT/2013/1086-1096 19/12/2013

Details of programmes/functions, to be organised in the Banquet Halls, Farm Houses, Marriage/Party Halls, Hotels, Open Ground etc., where food and/or liquor items are to be supplied/provided and cost of booking exceeds rupees one lakh per function, shall be submitted by the owner/lessee/custodian of the venue through a return in Form BE-2...

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Notification No. 59 (RE-2013)/2009-2014, Dated: 19.12.2013

Notification No. 59 (RE-2013)/2009-2014 19/12/2013

In exercise of powers conferred by Section 5 of the Foreign Trade (Development& Regulation) Act, 1992 (No. 22 of 1992) read with Para 1.3 of the Foreign Trade Policy, 2009-2014, the Central Government amends para 2 of Notification No.03(RE-2012)/2009-14 dated 29.06.2012 read with Notification No.57(RE-2013)/2009-14 dated 16.12.2013 with i...

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Disallowance u/s 14A for the period before AY 2008-09, should be restricted to 2% of dividend income

Shakuntaladevi Trade & Investments Pvt. Ltd. Vs. The ITO (ITAT Mumbai)

It was held had held that Disallowance u/s 14A for the period before AY 2008-09 i.e pre-Rule 8D period, should be restricted to 2% of the dividend income. Shakuntaladevi Trade & Investments Pvt. Ltd. Vs. ITO (ITAT Mumbai)...

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Services in which human intervention is not required are not covered by scope of section 9(1)(vii)

Metro & Metro Vs. Additional Commissioner of Income Tax (ITAT Agra)

As regards assessee's submission that the provisions of section 9(1)(vii) will not come into play in this case because the entire testing process is automated, it is well settled that when no human intervention is involved in any services, such services cannot be treated to be of the nature which can be covered by the scope of section 9(1...

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