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Archive: 02 April 2015

Posts in 02 April 2015

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

May 15, 2024 7356 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.

Simple Yet Significant Exams Tips- Part 2

April 2, 2015 1245 Views 0 comment Print

After I got an overwhelming response to my first article titled Simple Yet Significant Exams Tips- Part 1, I decided to go in to further to give some more tips on preparation of examination and time management therein. I hope as earlier, these too render some help to fellow students and professionals.

Mobile Insurance and Anti-Theft “Mobile App” – VAT or Service Tax

April 2, 2015 2768 Views 1 comment Print

Now the day’s companies have started providing smartness and security to smart phones by providing/selling insurance and anti theft application on mobile through software (mobile app) operated by them and other allied services to the consumers through their distributors and retailers. Now the following questions arise: Whether the companies are liable for service tax or […]

Travails of the Service Tax Payer

April 2, 2015 1758 Views 0 comment Print

CA. M. Lakshmanan Payment of Service Tax on the last day of the Financial Year viz. on the 31st March is more cumbersome and the assessees are put to lot of practical problems in paying the same. Since all are trying to pay the same on the last day including the service tax they have […]

FAQs on provisions of Corporate Social Responsibility U/s. 135 and Rules thereon

April 2, 2015 772 Views 0 comment Print

Frequently Asked Questions On the provisions of Corporate Social Responsibility under Section 135 of the Companies Act 2013 and Rules thereon The background of these Frequently Asked Questions (FAQs) is to give clarifications regarding treatment of Corporate Social Responsibility (CSR) spending in the books of accounts and disclosures in the Financial Statements. It is important […]

Key Takeaways of Foreign Trade Policy, 2015-2020

April 2, 2015 3044 Views 0 comment Print

Foreign Trade Policy 2015-20 Unveiled: Aiming to nearly double India’s exports of goods and services to USD 900 billion by 2020 Commerce and Industry Minister Mrs. Nirmala Sitharaman unveiled the Prime Minister Mr. Narendra Modi-led government’s new Foreign Trade Policy, 2015-2020 (“FTP”) on April 1, 2015 at the Vigyan Bhawan, Delhi, thus laying down a […]

Whether provisions of Section 206AA overrides provisions of Section 90(2) of Income-tax Act, 1961

April 2, 2015 4108 Views 0 comment Print

The assessee had made payments to non-residents on account of interest, royalties and fees for technical services and the same were subject to withholding under Section 195 of the Act. The assessee in accordance with provisions of Section 90(2) deducted tax on such payments as per the beneficial rates prescribed in the DTAA with respective countries.

Addition for Bogus Purchases based on mere Assumptions not justified

April 2, 2015 3318 Views 0 comment Print

Further, it is not the case of the assessing officer that the assessee has indulged in accounting of bogus purchases. When the assessee submitted that he could not have effected the sales without making corresponding purchases, the AO has taken the view that the assessee could have effected purchases in the grey market, which conclusion is, in fact, not supported by any material.

Foreign Trade Policy 2015-2020 Unveiled

April 2, 2015 1678 Views 0 comment Print

The new five year Foreign Trade Policy, 2015-20 provides a framework for increasing exports of goods and services as well as generation of employment and increasing value addition in the country, in keeping with the Make in India vision of Prime Minister.

No change in rate of Service Tax from 01.04.2015

April 2, 2015 36480 Views 0 comment Print

Finance bill, 2015 has proposed to increase effective rate of Service Tax from 12.36% to 14%. It is wrongly reported in some quarters that the effective date of change in rate of Service Tax is 1st April, 2015. It is hereby clarified that the change in the rate of Service Tax will be effective from the date to be notified after enactment of Finance Bill, 2015.

ICAI President's Message – April 2015

April 2, 2015 3139 Views 2 comments Print

Dear Friends, The great Indian philosopher Sri Aurobindo believed in the purposefulness of evolution-life has evolved from matter and then mind has from life. We have been evolving for ages by responding to our respective environments. Evolution always had a purpose to make us better. Our life has a purpose too. The whole human existence […]

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