Details Regarding Revision in Passenger Fares W.E.F. 22.01.2013 The Ministry of Railways has now issued circular giving details of its decision to revise Passenger Fares w.e.f. 22.01.2013. Details of the fare revision are as under:- 1. Minimum Fare: The Minimum fare chargeable will be Rs. 5. 2. Development Charge: On the revised basic fares which […]
The Ministry of Corporate Affairs has launched a new search facility on its website for unpaid and unclaimed amounts lying with the companies. Investors can visit the web page www.iepf.gov.in and obtain information regarding such amounts by providing any of the following combination:
An Income Tax Commissioner was Wednesday directed by the Delhi High Court to get himself psychologically assessed for making “lewd” and “scurrilous” statements against female colleagues despite previous warnings.
During the compounding process, on a number of occasions, it has been brought to our notice by the applicants that the contraventions of the provisions of FEMA by corporates and individuals are due to the acts of omission and commission of the Authorised Dealers and some of the applicants have also produced documentary evidence in support of their claim. Such contraventions being dealt with by the Reserve Bank mainly relate to:
Notification No. 05/2013-Customs (N.T.) – DATED THE 17th January, 2013 Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currency specified in column (2) of each of Schedule I and Schedule II annexed hereto into Indian currency or vice versa shall, with effect from 18th January, 2013 be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods.
What is important is that the primary activity is not manufacture or processing of goods; the end use product is one capable of use only by one person, for a limited purpose; even the “producer” has no right to disseminate it in any manner, because it is the private property or confidential matter of the patient.
Though the respondent-assessee had purchased flat Nos. 416A and 516A it was only purchase of one residential house. Further, the Tribunal held that two flats were joined together before the respondent assessee became the owner of the two flats. The Certificate from the society also established the fact that two flat Nos. 416A and 516A were joined together and were considered as one residential house.
The netting principle was adopted by a Division Bench of this Court in Shri Ram Honda Power Equip (supra). That was a case concerning Section 80HHC which provides for a deduction from export profits. Explanation (baa) provided for exclusion of certain income which had nothing to do with the export profit and one such item of income was interest.
Service tax is statutory liability. It is a tax which is required to be collected by the service provider from the person to whom service is provided, and thereafter to be deposited with government treasury within the prescribed time.
The provisions of Penalty levied u/s 272B of Income Tax Act, 1961 are prospective i.e. it is applicable from the date of insertion of sub-clause (iv) to section 139A(5B) of the Act i.e. 01.06.2006.
