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Archive: 04 August 2015

Posts in 04 August 2015

Free YouTube Live on The global landscape –  from market’s to trade

May 24, 2024 1119 Views 0 comment Print

Join us for an insightful and dynamic YouTube Live session on “The global landscape –  from market’s to trade.” with renowned financial analyst Ankit Baid, MBA Finance. The presentation explores shifting of the global economic landscape, focusing on the decline of US dominance and the rise of China. It examines the potential decrease in global […]

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7671 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Deduction u/s 80IC not available on Sales Tax Rebate or on Ancillary activity Income: HC

August 4, 2015 1478 Views 0 comment Print

Punjab & Haryana High Court held In the case of The CIT vs. M/s H. M. Steels Ltd that on an analysis of section 80IC, it must be held that any industrial undertaking or enterprise would be entitled to deduction under sub-section (1) only to the extent of profits derived from such an industrial undertaking and not on account of any rebate or incentive made available to it by the Government.

Need For Management and Personal Development

August 4, 2015 2405 Views 0 comment Print

We all are professionals, CA, CS, Bankers, Tax Consultants, lawyers etc. and in this fast life we all want to be successful. Everyone thrives to be at the top, to be seen by all the people, to be appreciated, rewarded, most of all to be accepted. All we need is people to approve of us, of our habits, the way we do things.

Welcome to Excise Duty

August 4, 2015 45184 Views 9 comments Print

In India, there are huge numbers of list for taxes, which are paid for different purposes. Such as Income tax, VAT, CST, Service tax, Customs, Octroi/LBT, Entertainment Tax Etc. All these taxes have aim to collect for some reason and its help to Indian Economy. One Such tax which is existing in the manufacturing Sector is the Excise Duty. So let us know all about the Excise Duty…

Negligence and Medical Profession

August 4, 2015 8773 Views 0 comment Print

The skill of medical practitioners differs from doctor to doctor. The very nature of the profession is such that there may be more than one course of treatment which may be admissible for treating a patient. Courts would indeed be slow in attributing negligence on the part of a doctor if he has performed his duties to the best of his ability and with due care and caution.

Prohibition on Forward Dealings In Securities by Director or Key Managerial Personnel

August 4, 2015 9544 Views 1 comment Print

Amitav Ganguly {New Section 194 of the Companies Act 2013} BACKGROUND There exist well established judicial precedents as well laws that the directors have fiduciary obligations and also duties to act reasonably and honestly in the best interests of the companies where they hold such positions. Their duties emanate due to holding positions which may […]

Service Tax Registration Procedure and Documents required

August 4, 2015 54548 Views 4 comments Print

A person who provides a taxable service is required to mandatorily apply for service tax registration if the value of the services provided by him in a particular financial year exceeds a threshold (currently Rs 10 lakh per annum). The service tax rules mandates online application for registration and created a websites named ACES fot this purpose. ACES is an online portal for central excise and service tax Registration, Return Filing etc.

Value of Friendship

August 4, 2015 2400 Views 0 comment Print

Friendship is the best relationship that a person should have to lead a more meaningful life in this world, next only to the Family system. An understanding spouse is the best friend in married life. When elders treat the juniors as friends, peace and happiness are sure to prevail.

Management Services and the Auditors

August 4, 2015 77847 Views 10 comments Print

CA Kamal Garg 1. Introduction Section 141(3)(i) of the Companies Act, 2013 states any person whose subsidiary or associate company or any other form of entity, is engaged as on the date of appointment in consulting and specialised services as restricted for statutory auditors in section 144, shall be disqualified for appointment as auditor of […]

Notice served by ‘speed post’ is as valid as ‘registered post’ in the eyes of Law

August 4, 2015 20092 Views 0 comment Print

ITAT Mumbai In the case of Color Craft v ITO held that the notice sent through the ‘speed post’ is totally valid in the eyes of law as ‘registered post’. The Hon’ble Tribunal while substantiating their decision relied on section 27 of General Clauses Act which mentions about ‘service by post’

Valuation of Derivatives can be done at cost or market price whichever is lower

August 4, 2015 1009 Views 0 comment Print

In the present facts of the Case the Hon’ble Tribunal completely relied on the Judgment of M/s. Indsec Securities & Finance Ltd., ITA No. 4236/M/2012, where it was observed that Derivatives are also Stock-in-trade and accordingly the valuation will be done.

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