"23 September 2014" Archive

Transfer pricing- CBDT defines wholesale Trading; Keeps tolerable limit for ALP unchanged

Notification No. 45/2014-Income Tax (23/09/2014)

Notification No. 45/2014-Income Tax DATED 23-9-2014 Central Government hereby notifies that where the variation between the arm’s length price determined under section 92C and the price of which the international transaction or specified domestic transaction has actually been undertaken does not exceed one percent of the latter in respe...

Read More

Govt. notifies comprehensive DTAA with Colombia

Notification No. 44/2014-Income Tax (23/09/2014)

Notification No. 44/2014 Income Tax The Government of the Republic of India and the Republic of Colombia, desiring to conclude an Agreement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and with a view to promoting economic cooperation between the two countries, have-agreed as fo...

Read More

Gujarat HC directs CBDT to extend due date of ITR Filing to 30.11.2014

CA Sandeep Kanoi CBDT has vide Notification No. 33/2014 dated 25/07/2014 Introduced mid year changes in Tax Audit Report format in form 3CD with lots of changes and additional reporting requirement. CBDT made the revised format applicable wef 25.07.2014 i.e. the date from which the new form been notified.  Utility for revised Tax Audit r...

Read More
Posted Under: Income Tax |

e-TDS/TCS – FVU version 2.140 from FY 2007-08 to FY 2009-10 wef 23.09.2014

Key feature of FVU version 2.140 ♣ Amount paid/ credited (in deductee details): Value in field “Amount paid/ Credited” to the deductee in case of Form no. 24Q should be less than or equal to 999999999.00. This validation is applicable to regular and correction (C3 & C9) statements pertaining to all FYs. ♣  Total Taxable [&hel...

Read More
Posted Under: Income Tax |

e-TDS/TCS RPU (Version 4.1) for statements from FY 2007-08 onwards wef 23.09.2014

Key features of RPU 4.1 ♣  Lower/ Non-deduction Certificate number issued by Assessing Officer (in deductee details): Length of field “Certificate number issued by the Assessing Officer u/s 197 for non-deduction/lower deduction” under deductee details (i.e. in Annexure 1) has been restricted to 10 digits. Certificate number to be q...

Read More
Posted Under: Income Tax |

e-TDS/TCS – FVU version 4.4 from FY 2010-11 & onwards wef 23.09.2014

Key feature of FVU version 4.4 ♣  Lower/ Non-deduction Certificate number issued by Assessing Officer (in deductee details): Length of field ‘Certificate number issued by the Assessing Officer u/s 197 for non-deduction/lower deduction’ under deductee details (i.e. in Annexure I) has been restricted to 10 digits. Certificate...

Read More
Posted Under: Income Tax |

​Applications for empanelment of Senior / Junior Standing Counsels for representing tax matters of Income Tax Department

Notice - F. No. CIT(Judicial)/Empanel. of Counsels/Vol.II //2014-15 (23/09/2014)

F. No. CIT(Judicial)/Empanel. of Counsels/Vol.II //2014-15 Dated : 23.09.2014 Applications in prescribed proforma (A1 & B) are invited from the tax lawyers of substantial standing and repute and with good academic credentials for the empanelment of Senior and Junior Standing Counsels for representing tax matters of the Income Tax Departme...

Read More

Suo Motto Stay after Mandatory Pre-Deposit U/s. 35F w.e.f. 06.08.2014

The intention behind 7.5% and/or 10% quantification of pre -deposit has to be understood in as much as stay matters ate maximum time of Honourable Tribunals and High Court therefore, the amount has been quantified and the expression of stay itself has been removed from the CEA,1944. ...

Read More
Posted Under: Income Tax |

Importance Of Functions, Assets & Risk (FAR) Analysis In Transfer Pricing

Transfer pricing has become the most significant source of litigation in India and is increasingly becoming a regular discussion point in the board room of large Indian and Global Multinational enterprises (“MNEs”). Indian Tribunals have issued around 650 rulings over the past decade on transfer pricing issues, setting precedents for ...

Read More
Posted Under: Income Tax |

Extension of date for Maharashtra Cooperative Online Empanelment

This is to inform you that the date for submission of Maharashtra Cooperative Auditors online empanelment application has been extended to 24th September ,2014 , upto 11.59 pm. Please note that no further extension will be given by the Cooperative Department....

Read More
Posted Under: Income Tax |

Notional interest cannot be added to value of taxable services

There is no provision in Service tax law for deeming notional interest on security deposit taken as a consideration for leasing of the immovable property. Therefore, in the absence of a specific provision in law there is no scope for adding any notional interest to the value of taxable service rendered. ...

Read More
Posted Under: Income Tax | ,

Implement Global Standards on Automatic Exchange of Information

Text of the Intervention Made by the Minister of State of Finance in the G20 Finance Minister’s Meeting on International Tax; Calls for Implementation of the New Global Standards on Automatic Exchange of Information with A Common Timeline and with Coverage of as Many Countries as Possible...

Read More
Posted Under: Income Tax |

Search Posts by Date

November 2020
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
30