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Interest is a term relating to a pre-existing debt, which implies a debtor creditor relationship. According to us, unpaid consideration gives rise to a lien over goods sold and not for money lent. This interpretation of ours is supported by the decision of Hon’ble Supreme Court
Sub-section(4) of section 80P will not apply to an assessee which is not a co-operative bank. In the case clarified by CBDT, Delhi Coop Urban Thrift & Credit Society Ltd. was under consideration. Circular clarified that the said entity not being a co-operative bank
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further
No Service Tax Required to be Paid on Services Provided by An Authorised Person or Sub-Brokers to the Member of a Commodity Exchange in Respect of Such Taxable Service on which the Service Tax was not Being Levied During the Period Commencing from The 10th Day of September 2004 and Ending with the 30th Day of June 2012 in Accordance with the Prevalent Practice – Notification No. 03/2014-Service Tax , New Delhi, 3rd February, 2014
Thus, Single Member Company or One Person Company has been defined as A Company which has only one person as a member under sub section 62 of section 2 of the Companies Act, 2013. It is now possible for a person, competent to enter a contract, to start such One Person Company which is like a proprietary firm with the benefits of a Limited Company.
This is our third video of FAST TRACK – QUICK REVISION of Return of Income. Aim of this video is revision of return of income in shortest possible time covering 90% of syllabus from examination point of view. However in class we devote almost 3 hours to return of income which we have tried to condensed in 12 minutes approx.
Whether Service Tax can be demanded again from the Service Recipient under reverse charge, where the same has been paid by the Service Provider and accepted by the Department?
Notification No. 03/2014-Central Excise after the serial number 94 and the entries relating thereto, the following serial number and entries shall be inserted, namely:-
In the recent times, Quantitative Easing policy of the US Federal Reserve has gained a lot of attention from businesses, investors and stock markets the world over. This has generated curiosity in the minds of many as to what it actually is and how it affects the world economy. This article is an attempt to satisfy such curious minds.
I take this opportunity to thank all the members and stakeholders for gathering adequate support in favor of the Cost Accounting Records, Cost Audit and for modification of the draft Companies (Cost Records and Cost Audit) Rules, 2013 so that the professionals and the profession could contribute its expertise for the cause of the society and I sincerely look forward for your continued support for the cause of the profession.
