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Archive: 24 September 2014

Posts in 24 September 2014

Free Webinar: Analysis of 10 Recent Income Tax Judgments in Favour of Assessee

July 1, 2024 1662 Views 0 comment Print

Join our free webinar on July 7 at 5 PM for insights into 10 recent High Court income tax judgments favoring assessees. Expert analysis by CA Dipak Dama.

India Enters revised DTAA / Protocol with Poland

September 24, 2014 6386 Views 0 comment Print

Notification No.47/2014-Income Tax Now, therefore, in exercise of the powers conferred by section 90 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby directs that all the provisions of the said Protocol amending the agreements between the Government of the Republic of India and the Government of Polish People’s Republic for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, as set out in the Annexure hereto, shall be given effect to in the Union of India with effect from the first day of April, 2015, being the first day of the fiscal year next following the year in which the Protocol enters into force.

Issue nil TDS certificate to deductor & lower TDS certificate to recipient of income – CBDT Directs

September 24, 2014 5147 Views 0 comment Print

Notification No. 46/2014-Income Tax (4) The certificate for no deduction of tax shall be valid only with regard to the person responsible for deducting the tax and named therein. (5) The certificate referred to in sub-rule (4) shall be issued direct to the person responsible for deducting the tax under advice to the person who made an application for issue of such certificate.

AP High Court to CBDT – Consider extension of Due date of ITR

September 24, 2014 22340 Views 0 comment Print

 In the High Court at Hyderabad for the States of Telangana and Andhra Pradesh, AIFTP –South Zone represented by Vice President for the State of Telangana and Vice President –Andhra Pradesh have filed two Writ Petition Nos. 28159 & 28672 of 2014 questioning the notification issued by the Central Board for Direct  Taxes on 20-08-2014 […]

Interest Income of Co-Operative Bank on deposits with Co-operative Bank not eligible for Deductoion U/s. 80P

September 24, 2014 5394 Views 1 comment Print

In the present case, we find that the assessee has earned interest income on fixed deposits made by the assessee with sub-treasury, Meenachili, Kadappattoor and SBI Pala totaling Rs. 20,21,909/- and the interest income earned on the surplus funds of the assessee cannot be considered

Service Tax on Joint Venture transactions – CBEC clarifies

September 24, 2014 17082 Views 1 comment Print

Certain doubts have been raised regarding the levy of service tax on taxable services provided (i) by the members of the Joint Venture (JV) to the JV and vice versa; and (ii) inter se between the members of the JV. In addition, doubts have also been raised regarding taxation of cash calls or capital contribution made by the members to the JV and also administrative services provided by a member to the JV.

Changes in E-Forms by MCA dated 21st September, 2014

September 24, 2014 10559 Views 0 comment Print

Ministry of Corporate Affairs on 21st September, 2014 has updated various E-Forms that are required to be filed under Companies Act, 2013 and rules made there under. The major changes were made pursuant to the amendment to Companies (Appointment and Qualification of Directors) Amendment Rules, 2014 which was dated 18th September, 2014.

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