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Archive: 10 January 2015

Posts in 10 January 2015

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6717 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

HC on Illegal Detention of Vehicle & Seizure of Goods under Transportation by VAT Authorities

January 10, 2015 4653 Views 0 comment Print

Learn about the High Courts ruling on illegal detention of vehicles and seizure of goods by VAT authorities. Find out about the consequences for erring officials.

TDS u/s 194C not applicable on Hotel Booking

January 10, 2015 191960 Views 13 comments Print

Section 194C of the I.T. Act provide that any person responsible for paying any sum to any resident for carrying out any work (including supply of labour) for carrying out any work, in pursuance of a contract between the contractor and a specified person, shall, at the time of credit of such sum to the account of the contractor

Top I-T official, CA held by CBI on graft charge

January 10, 2015 1043 Views 0 comment Print

A Joint Commissioner of Income Tax Department and a Chartered Accountant were today arrested here by CBI on charges of receiving and offering a bribe of Rs eight lakh respectively for an official favour. A CBI release here tonight said Joint Commissioner Sallong Yaden was held while ‘receiving’ the bribe amount from Shreyans Bhandari of […]

Discrepancies in TDS deducted & claimed- Deductors Duties

January 10, 2015 5768 Views 0 comment Print

Nowadays Centralized Processing Cell (TDS) is intimating discrepancies observed with respect to TAN of the deductors in the ‘TDS claimed by the taxpayers in their Income Tax Returns’ vis-á-vis ‘Tax Credits available as per 26AS Statements’, for the Financial Years 2011, 2012 and 2013.

SEBI Discussion Paper on 'Revisiting the capital raising process'

January 10, 2015 3422 Views 0 comment Print

Securities market, including the market for public offerings, is dynamic and need to keep pace with the evolving environment. In order to keep pace with the changing economic environment and to address concerns of various market participants especially the issuers and the investing community, the regulations governing the primary market have been amended from time […]

IGST Model in Goods & Service Tax (GST)

January 10, 2015 143700 Views 38 comments Print

What is IGST and how this will monitor the interstate trade of Goods in GST? Will IGST replace the existing CST? Please explain with suitable example. A new model is developed under proposed GST to monitor the interstate trade of Goods and Services and this is called IGST. Let me clear first thing it will not replace the existing CST and there will be long awaited goodbye to Central Sales Tax in the GST regime.

BCCI to pay service tax for recording IPL cricket matches – SC

January 10, 2015 1003 Views 0 comment Print

In the case of BCCI Vs. CST Hon’ble SC held that the activity of producing audio-visual coverage of ‘Indian Premier League’ cricket matches held in India by non -resident service providers would be liable to tax under ‘programme production services’ and BCCI was liable to pay tax under reverse charge mechanism.

TDS credit must be given to deductee even if deductor fails to pay to government

January 10, 2015 8181 Views 0 comment Print

It is not disputed that tax was deducted at source by the tenant Union Motors Services Limited and they have issued some Certificates which has been given credit to by the Department. The present dispute relates to the failure of non issuance of TDS certificates by the tenant.

Applicability of Condition to practice Under Income Tax rule 55 vis-á-vis Sec. 288(2)(vi)

January 10, 2015 4467 Views 0 comment Print

Syed Mahaboob Peer The Section 288(2)(vi) of the Income Tax Act, 1961, together with the Rules 12A, 49(a), 51, 54 and partly the Rule 55 of the Income Tax Rules, 1962 are applicable in connection with the application (Form No.39) for the applicants under Section 288(2)(vi) of the Income Tax Act, 1961.        

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