As you are aware RRBs are not required to deduct TDS from depositors who submit declaration in Form 15-G/15-H under Income Tax Rules, 1962. However, it has been brought to our notice that despite submission of Form 15-G/15-H by customers, RRBs are deducting tax at source, at times, causing inconvenience to customers resulting in a number of complaints. Such instances arise because either the forms are misplaced or a track is not kept of forms received in the branches.
Interest rate spread to be charged by National Housing Bank (NHB) may be decided by NHB taking into account cost and other relevant factors. NHB shall ensure that interest rate spread for HFCs for on-lending to prospective owners’ of individual units under the low cost affordable housing scheme is reasonable.
Attention is invited to the Board Circular No.43/2005-Cus dated 24.11.2005 whereby Risk Management System (RMS) was introduced in Imports as a trade facilitation measure and for selective interdiction of high risk consignments for Customs control.
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.
