"27 July 2015" Archive

ITAT pulls Up CA for Seeking to Intimidate It by using derogatory, defamatory and contemptuous Language

M/s. Mundra Woolen Mills (P) Ltd.Vs The ACIT (ITAT Jaipur)

he barrage of indiscriminate allegations include misuse of official position, corruption, insulting him and son: colluding with retired income tax officers to harm his client so on and so forth. The severity of accusations and fury emerging from their language is highly derogatory, defamatory and contemptuous, sent with a scheme and clear...

Construction Activities and Its Taxability

Construction industry is one of the most profitable industries in our country. Its play a vital role in development of infrastructure, which is the most essential for development of our country. The government of India has given various concessions in to this industry in taxation matters. ...

Posted Under: Income Tax |

List of actions for which ordinary resolution is required to be adopted Under CA, 2013

In simple words, an ordinary resolution is a resolution passed by the shareholders of a company by a simple majority of more than 50% of the votes. An ordinary resolution is the most common method by which a corporate entity conducts its business or the Board of directors seeks shareholder approval of its actions....

Posted Under: Income Tax |

Highlights of Report on the GST Bill by Select Panel of Rajya Sabha

With the first day’s proceeding of the Monsoon session of the Parliament getting distressed, the Select Panel of the Rajya Sabha had submitted its Report on the much awaited Constitution (122nd Amendment) Bill, 2014 on GST (122nd CAB or GST Bill) on Wednesday, July 22, 2015 in the Rajya Sabha amid Opposition furore over the Lalit Modi r...

Posted Under: Income Tax |

Use of Digital Signature and Electronic maintenance of records under Central Excise and Service Tax

Government of India has in the recent past launched its dream initiative of ‘Digital India’ which promises to integrate the government departments and the people of India ensuring that the government services are made available to citizens electronically and thereby increasing the work efficiency and reducing the paperwork. ...

Posted Under: Income Tax |

Bajrangi and Bahubali, etc. like now Income Tax Department have target of Crores

Income tax department on 17th July 2015 has given target to find New Taxpayers to the Chief Commissioner of Income Tax. The success of cinemas is measured through its collection in crores. Similarly many keeps target of crores. So please explain what is this Target of Taxpayers and what is given in it?...

Posted Under: Income Tax |

Procedure for Registration of NBFC and related provisions

NBFC registration Why? Non-banking financial companies (NBFCs) are fast emerging as an important segment of Indian financial system. It is an heterogeneous group of institutions (other than commercial and co-operative banks) performing financial intermediation in a variety of ways, like accepting deposits, making loans and advances, leasi...

Posted Under: Income Tax |

Scrutiny of Service Tax and Central Excise Returns

The provisions pertaining to filing of returns/declarations/forms under Central Excise and Service tax law are based on the principal of ‘self assessment’, which means that every assessee should make true and correct disclosures in its returns and pay the taxes due. ...

Posted Under: Income Tax |

Brief About Credit Rating in India

A credit rating is an evaluation of a credit worthiness of potential borrower’s and its ability to meet the debt service obligations as and when they arise. A credit rating tells a lender or investor the probability of the subject being able to pay back a loan. Credit rating is only an opinion but not […]...

Posted Under: Income Tax |

All about Income Tax Form 16 for Salaried Employee

If you are salaried employee in an organization, then you will get the salary after deducting tax by the employer. Therefore Form 16 is a certificate issued to you by your employer stating the Personal details of the Employee including Name, Permanent Account Number (PAN) etc , details of the salary you have earned,...

Posted Under: Income Tax |

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