Facts in brief as emerged from the corresponding assessment order passed u/s. 143(3), dated 1.12.2009 were that the assessee is a trust and during the year disclosed a capital gain of Rs.87,29,080/-. It was informed that the assessee had invested a sum of Rs. 1,12,00,000/- in Rural
What is meant by verification of marks? The process of verification of marks covers the following: Checking:Whether the answer book(s) compilation is complete. Whether any question or part thereof has remained unvalued. Whether there is any totaling error in any question or total marks on the cover page. Whether there is any discrepancy between the marks for each question and or/part thereof and marks for each question indicated on the cover page of the answer book. Whether the handwriting of the candidate in all the answer books is the same.
Name of Statutory Central Auditors appointed in public sector banks for the year 2013-14 Sr. No Auditors appointed for 2013-14 1. Allahabad Bank, Kolkata 1 M/s N K Bhargava & Co., New Delhi 2 M/s Raghu Nath Rai & Co., New Delhi 3 M/s Khandelwal Kakani & Co., Indore
Literally, ‘bundle’ means a collection of things, or a quantity of material, tied or wrapped together; tie up or roll up a number of things together as though into a parcel. The word ‘bundle’ has been used for the first time in the Service Tax and it has been interchangeably used with the expression ‘specified descriptions of services’. What is meant by specified descriptions of services has not been defined or explained in the Act.
Deficit financing is the method by which a government finances its budget deficit, that is, it covers its expenditure in excess of the revenue. The most common forms of deficit financing are borrowing from foreign governments, or from banks like the World Bank, or borrowing from the central bank of the country (RBI in the case of India) by issue of different instruments like treasury bills and new bonds,
In exercise of the powers conferred by Sub-section (1) of section 41 of the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Government of Maharashtra hereby amends the Government Notification, Finance Department No. VAT.1509/CR-89/Taxation-1, dated the 5th November 2009, with effect from the 13th March 2013
You may be familiar with the word “F”. But today I am here to demystify the concept of F forms under CST ACT. The following conversation between Ankur and Aashish will help you to understand the concept in a great manner. Ankur : Hi Aashish !!, wassup buddy ?? Aashish : Nothing man, feeling anger […]
Change is what has bought us to the juncture and change is what it will take to usher in a new future as we contemplate way to address the challenges. Many changes have focused on bringing in greater clarity while others have expanded the scope of its operations. Indian Transfer Pricing ambit has been changed with introduction of Safe Harbour Rules (SHR), Advance Pricing Agreements (APA) & Dispute Resolution Panel (DRP).
Deduction under section 80 CCG a new scheme was introduced to encourage flow of saving in financial instruments and improve the depth of domestic capital market. However, it also aims to promote an ‘equity culture’ in India. This is also expected to widen the retail investor base in the Indian securities markets and further the goal of financial stability and financial inclusion.
An exemption is given from additional duty of customs levied in lieu of Value Added Tax (‘ADC’) leviable under Section 3(5) of the Customs Tariff Act to the goods cleared from the Special Economic Zone (‘SEZ’) to Domestic Tariff Area (‘DTA’). However such exemption is not applicable if such goods, when sold in DTA, are […]
