"13 June 2015" Archive

LTCG on sale of equity shares is allowed to be set off against LTCG on sale of land

Raptakos Brett & Co. Ltd. Vs DCIT (ITAT Mumbai)

A distinction to be drawn whether the entire source of income is exempt or only a part of source is exempt. Section 10(38) excludes in expressed terms only the income arising from transfer of Long term capital asset being equity share or equity fund which is chargeable to STT and not entire source of income from capital gains arising from...

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Positioning Of Internal Audit In Corporate Framework

The scope of internal auditing within an organization involves topics such as an organization's governance, risk management and management controls. Internal auditing may also involve conducting proactive fraud audits to identify potentially fraudulent acts; participating in fraud investigations under the direction of fraud investigation ...

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Posted Under: Income Tax |

Service tax on Amusement Parks and Entertainment events

Service Tax shall be levied on the service provided by way of access to amusement facility providing fun or recreation by means of rides, gaming devices or bowling alleys in amusement parks, amusement arcades, water parks and theme parks....

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Posted Under: Income Tax |

234E Fee deleted in the absent of the enabling provisions u/s 200A

Sibia Healthcare Private Limited v./s Dy. Commissioner of Income-tax (TDS)

The Hon'ble Amritsar bench has given a landmark judgement on the issue of 234E Fee levied prior to June,2015 in the case of Sibia Healthcare Private Limited v./s Dy. Commissioner of Income-tax (TDS), in I.T.A. No.90/Asr/2015 and has deleted the addition-...

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Posted Under: Income Tax | ,

Empanelment with Canara bank for Appointment as Concurrent Auditor

Eligible/interested Proprietary Concerns / Firms / Companies, who are agreeable to the above terms & conditions, may apply online only in the application (click to apply), on or before 26.06.2015...

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Posted Under: Income Tax |