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Archive: 06 May 2015

Posts in 06 May 2015

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

July 1, 2024 1743 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.

‘AND’ & ‘OR’ a Mess in Companies Act, 2013

May 6, 2015 3162 Views 0 comment Print

‘AND’ & ‘OR’ statements behave very differently. ‘AND’ signifies that both conditions are required to be satisfied while ‘OR’ signifies that only one condition must be met. Let us analyse how it has created big Confusion in Companies Act, 2013

Tax Planning vs. Tax Evasion

May 6, 2015 10181 Views 0 comment Print

1. The word ‘tax planning’ connotes the exercise carried out by the taxpayer to meet his tax obligations in proper, systematic and orderly manner availing all permissible exemptions, deductions and reliefs available under the statute as may be applicable to his case.

Certified Public Accountants (CPA) with H4 Visa

May 6, 2015 8950 Views 7 comments Print

There are many people who went to U.S. as a dependent with their spouses and there are many who are highly educated professionals who follow their spouse to the United States for a better future for their family. Since they are not allowed to work with H4 visa, it would be nice to study for the CPA.

Adjustment of Central Excise Education CESS and Higher Education CESS as on 01.03.2015

May 6, 2015 57081 Views 12 comments Print

The Hon’ble Finance Minister in the recent Union Budget 2015-16 announced in the floor of the Parliament that As part of the movement towards GST, I propose to subsume the Education Cess and the Secondary and Higher Education Cess in Central Excise duty.

Online registration under MVAT Act, 2002 and CST Act,1956

May 6, 2015 10550 Views 0 comment Print

The applications for registration under the MVAT Act, 2002 and the CST Act, 1956 are required to be submitted online. Once the application is uploaded the applicant is required to attend before the registration authority for verification of required documents and photo signature.

NI Act: No mandatory requirement of notice to directors of Company

May 6, 2015 18168 Views 0 comment Print

According to Section 138, where any cheque drawn by a person on an account maintained by him is returned by the Bank unpaid for reasons mentioned u/s-138, such person shall be deemed to have committed an offence.

Govt. approves revised DTAA with Korea

May 6, 2015 1199 Views 0 comment Print

Revised Agreement between India and the Republic of Korea for the Avoidance of Double Taxation and Prevention of fiscal evasion taxes on income The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval for revising the Double Taxation Avoidance Convention (DTAC) which was signed in 1985, between India and the […]

Punjab VAT-No assessment or provisional assessment without prior approval of ETC

May 6, 2015 1227 Views 0 comment Print

Punjab Government has suitably amended Rule 47 of the Punjab VAT Rules, 2005 whereby no assessment or provisional assessment now can be framed without the prior approval of the Excise and Taxation Commissioner, Punjab.

SC on Taxability of income from letting of properties (House Property or Business Income)

May 6, 2015 8018 Views 0 comment Print

The appellant-assessee is a company incorporated under the Indian Companies Act. Its main objective, as stated in the Memorandum of Association, is to acquire the properties in the city of Madras (now Chennai) and to let out those properties.

Transfers & Postings Of Pr. CCIT, CCIT and DGIT

May 6, 2015 2670 Views 0 comment Print

ORDER NO. 60 OF 2015 Dated 6th May, 2015 The following transfers / postings in the grade of Principal Chief Commissioner or imome Tax / Chief Commissioner of Income Tex / Director General of Income lax are, nereby, ordered with immediate effect and until further orders

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