The assessee had made payment to the labour contractors without deducting TDS on the same and claimed the same as an expense in his profit & Loss account. AO disallowed the same as per sec 40(a)(ia) for non-deduction of TDS.
ITAT Kolkatta has held In the case of Menally Sayaji Engineering Ltd. VS -CIT that if assessee failed to deduct TDS during the previous year on payments of management service fee and royalty debited to the profit and loss account and if in his Assessment Order Passed U/s. 143(3)
In attracting the principle of unjust enrichment it is not only the actual burden which is passed on to the another person that would be taken into consideration even if the incident of such duty had not been passed on by him to any other person
This article deals with an insight in Securities Appellate Tribunal (SAT), a body formed by SEBI Act, 1992. Section 15K of SEBI Act, 1992 empowers the Central Government to set up one or more Tribunals, for the purpose making appeals against the orders of SEBI and its adjudicating officers. These tribunals will be known as Securities Appellate Tribunal (SAT). In exercise of the power conferred, the Central Government has set up one Tribunal at Mumbai.
In the present case also the notice u/s 148 of the Act was issued on 31.03.2010 in the name of the deceased assessee and claimed to have been served upon the deceased assessee who had already expired on 06.12.2002.
Tribunal held that the service provided by appellant was not in relation to agriculture. Further appellant’s claim that service provided by it are eligible for exemption under notification no. 17/2005-ST, dated 07.06.2005
After commencement of Companies Act, 2013 from 01stApril 2014 compliance requirement of Companies has been increased. Therefore it’s difficult for the Private Company to continue and for peoples to incorporate new Companies. The new Company law was pain for the youth. Although it allows a single-person company to be set up, when it needs to […]
Hobby is the leisure time that we regularly spend after daily works like attending office, cooking, teaching, studying, etc. It’s a method of diversion from the monotony of routine. Pastime is the other name of the hobby. It can happen that the activity which is a pastime for one person can be a job to another person.
Shivani Mangla Services covered under Reverse Charge Mechanism from 01.06.2015 (with % and type of person) S.No. Description of service Service Provider Service Receiver 1 Insurance Agency Services Insurance Agent Any person carrying on insurance business NIL (0%) 100% (14%) 1A Recovery Agent Services Recovery Agent Banking co./ Financial inst./NBFC NIL (0%) 100% (14%) 1B […]
The Central Government’s policy is, when exports are made, only products or services are to be exported and not taxes. Therefore when tax exemption is available for direct export for the exporters, the sale prior to export i.e Penultimate sale also is considered for tax exemption by the Government.
