Lump-sum payments are covered under the term royalty. The agreement postulated grant of permission to use or right to use intellectual property rights or knowhow and it is not a case of outright sale.
Karnataka High Court held In the case of The CIT & ITO vs. Smt. B S Shanthakumari that the purpose of provisions u/s 54F is to ensure that assessee who received capital gains would invest the same by constructing a residential house and once it is established that consideration so received on transfer
Notification No. 2/2015 – Income Tax The Electronic Verification Code (EVC) would verify the identity of the person furnishing the return of income (hereinafter called ‘Verifier) and would be generated on the E -filing website https: //incometaxindiaefiling.gov.in or as otherwise indicated.The EVC can be used by a Verifier being an Individual to verify his Income Tax Return or that of an HUF of which he is the Karta in Income Tax Return Form 1, 2, 2A, 3, 4 or 4S
It has been decided to relax the additional fee payable on Forms AOC-4, AOC-4 XBRL and Form MGT-7 upto 31/10/2015. Further, a company which is not required to file its financial statement in XBRL format and is required to file its CFS would be able to do so in the separate form for CFS without any additional fees upto 30/11/2015.
Mega Exemption under Service Tax and Point of Taxation Rules, 2011 – Relevance in GST Regime We are happy to inform that the Fourth Workshop under the series is being organised on the theme “Mega Exemption under Service Tax and Point of Taxation Rules, 2011 – Its relevance in GST Regime on Friday, 17 July, 2015 […]
At present, the minimum contract size in equity derivatives segment is Rs. 2 lakhs. The requirement was recently reviewed and it has been decided to increase the minimum contract size in equity derivatives segment to Rs. 5 lakhs.
In the matter of continuation of anti-dumping duty on Glass Fibre and articles thereof, falling under heading 7019 of the First Schedule to the Customs Tariff Act, originating in, or exported from, People’s Republic of China, imposed vide notification of the Government of India shall remain in force up to and inclusive of the 13th day of July, 2016, unless revoked earlier”.
Section 77 to 86 read with Companies (Registration of charges) Rules, 2014 deals with provisions relating to the Charges under Companies Act, 2013. Section 77 exclusively talks about ‘creation of charge’. Sub-section (1) of Section 77 states that it shall be the duty of every company creating a charge within in India or outside India
July 13, 2015 BILL NO. 08 OF 2015 The Delhi Value Added Tax (2nd Amendment) Bill, 2015 (As passed by the Legislative Assembly of the National Capital Territory of Delhi on 30th June, 2015) BILL NO. 08 OF 2015 THE DELHI VALUE ADDED TAX (2nd AMENDMENT) BILL, 2015 A BILL to further amend the Delhi […]
In the case of M/s. Vir Rubber Products P. Ltd. Vs. Commissioner of Central Excise Hon’ble SC held that for claiming SSI exemption under Central Excise law, the value of clearances made on account of job work under the brand name of principal manufacturer should not be included
