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Archive: 07 August 2015

Posts in 07 August 2015

Delhi VAT- Filing of online return for 1st quarter of 2015-16- extension of due date to 17/08/2015

August 7, 2015 1553 Views 0 comment Print

In partial modification to this department’s Circular No. 17 of 2015-16 on the subject cited above and in exercise of the powers conferred under Rule 49A of the Delhi Value Added Tax Rules, 2005, I, Vijay Kumar, Commissioner, Value Added Tax, do hereby

Constitutional Validity of Amended Section 29 of Punjab Value Added Tax Act, 2005

August 7, 2015 4751 Views 0 comment Print

Judgment in case of Amrit Banaspati Company Ltd.- The Hon’ble High Court upheld the Constitutional Validity of the amended Section 29(4) in entirety and dismissed the writ petitions. The basic grievances of the petitioners were that the Amendment of Section 29(4) was prospective and not retrospective.

How GST Progressed in This Monsoon Session

August 7, 2015 2356 Views 0 comment Print

To set the stage for the ambitious reform legislation, The Modi Government introduced the Constitution (122nd) Amendment Bill, 2014 in the Lok Sabha on 19th December, 2014 for amending the Constitution of India. This was necessary for empowering the govt. to facilitate the introduction of Goods and Services Tax (GST) in the country as in the proposed GST model both the Central and State govt. will levy tax on a common base.

Payment for use of copyright though not registered is allowable expenditure

August 7, 2015 703 Views 0 comment Print

Punjab & Haryana High Court held In the case of Principal CIT vs. M/s Mobisoft Tele Solutions Pvt. Ltd. that Tarun Mohan had obtained the copyright in respect of the artistic work comprised in the name phoneytunes.com. Registration of the copyright is, however, not compulsory.

Onus to prove that debts are irrecoverable gets satisfied, once bad debts w/off in books of accounts

August 7, 2015 808 Views 0 comment Print

ITAT Ahmedabad held In the case of M/s Indu Nissan Oxo Chemical Inds. Ltd. vs. DCIT that the Hon’ble Apex Court in the case of TRF Ltd. vs. CIT reported at (2010) 323 ITR 397(SC) has held that this position in law is well-settled. After 1st April, 1989

Private Limited Company- Incorporation Procedure, Features, Taxation

August 7, 2015 2772 Views 0 comment Print

Features of Private Limited Company -Separate Legal Status -Capacity to borrow -Easy Transfer of shares -Minimum number of Members : 2 ;  Maximum number of Members : 200 -Minimum Capital : Nil {omitted by Companies (Amendment) Act, 2015} -Limited Liability -Minimum number of Directors : 2 -Foreign investment permitted (subject to applicable Sectoral Cap as […]

If payment is for variety of services & use of land is minor, Payment cannot be treated as rent –SC

August 7, 2015 1866 Views 0 comment Print

The charges such as Landing Charges, Lighting Charges, Approach and Aerodrome Control Charges, Aircraft Parking Charges, Aerobridge Charges, Hangar Charges, Passenger Service Charges, Cargo Charges etc.

IFRS : IASB proposes clarifications to IFRS 15

August 7, 2015 691 Views 0 comment Print

The International Accounting Standards Board (IASB) today published for public consultation some proposed clarifications to and transition reliefs for IFRS 15 Revenue from Contracts with Customers.

CBDT Finally releases e-filing utility for ITR 6 for A.Y. 2015-16

August 7, 2015 8360 Views 0 comment Print

Further Update on 07.08.2015 CBDT has released finally e-filing utility for ITR -6 on 06.08.2015 after 127 from the start of new financial year and gives Assessee a time of 55 days for complete his e-filing instead of 183 days due to delayed release of e-forms.

13 Reasons why CA students are facing failure in exam?

August 7, 2015 115214 Views 26 comments Print

Here is the 13 (Thirteen) Interesting Reasons for being failure in exam with RemediesI would strongly suggest you all to stick to the basics of study to avoid further failure and ensure success. For me some basics of study are as follows:

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