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Krishna, the festival of Raksha Bandhan is coming soon. On this occasion Maharashtra Sales Tax Department has issued a Trade Circular for businessman for collecting taxes. Arjuna, Raksha Bandhan means expressing love, strengthening relations between brothers and sisters. Elder should save the younger. But Sales Tax department has done opposite of this. The department instead of saving the dealer who follows the VAT laws brought Bandhan for the year 2012-13.
CA Shishir Agrawal CA FINAL- DIRECT TAX (Income Tax)- Ready reference of case laws relevant for November 2015 About Notes: The case laws are summarized from supplementary study material issued by The Institute of Chartered Accountants of India for the Final Examination to be held in May 2015. For detail case study, please visit http://resource.cdn.icai.org/35311scasesp7.pdf. […]
CA Vinod Kaushik Introduction: While presenting regular budget of Delhi for the year 2015-16 the Govt. has projected to get Rs. 34661 crores from taxes in which Rs. 24000 crores has been proposed to be collected from Value added taxes only. In order to achieve the above target the Govt. machinery especially the VAT department […]
1. Does the contra trade restriction (for a period not less than six months) under clause 10 of Schedule B of the Regulations also apply to the exercise of ESOPs and the sale of shares so acquired?
Differences between Public Limited Company, Limited Liability Partnership (LLP), Private Limited Company and One Person Company [OPC]
If economic activity and growth are analogous to a wheel, then provisions of section 185 and 188 of the Companies Act, 2013 are surely analogous to disc brakes!!! Efficiency of production requires efficient choice and free movement of resources. Ideally, economic models assume complete mobility of resources and perfect competition throughout the world, both of […]
Service Tax in India is 21 years old now. When it was introduced vide Chapter V of the Finance Act, 1994 (32 of 1994) from 01.07.1994, the rules were also notified from that date, to administer this law, taking authority from section 94 (2) of the said Act. These rules are called the Service Tax Rules, 1994. These rules are the basic rules for administration of service tax and have been amended from time to time according to the need and changes in the economic and other conditions in the country.
The Micro, Small and Medium Enterprises Development (MSMED) Act was notified in 2006 to address policy issues affecting MSMEs as well as the coverage and investment ceiling of the sector. The Act seeks to facilitate the development of these enterprises and enhance their competitiveness.
The Finance Minister Shri Arun Jaitley said that GST is a monumental reform that will benefit all segments of business, increase tax base, augment the revenues and is favoured by the State Governments and all other stake holders. He said that the Constitutional Amendment Bill will soon see the light of the day.
The Board approved the draft amendment to the regulations to be notified on September 28, 2015 pursuant to the proposed repealing of the Forward Contracts Regulation Act, 1952 (FCRA) making way for merger of Forward Market Commission with SEBI. These regulations will enable functioning of the commodities derivatives market and its brokers under SEBI norms and integration of commodities derivatives and securities trading in an orderly manner.
