Knowledge is an eye for the blind, ears for the deaf, strength for the weak and all in all it is a boon for the mankind. It is argued that a person who is blind is weak only in one sense but the one who is uneducated is weak by all senses. For every benefit that you receive, a Tax is levied. Perhaps this seemed never so real than today in the Indian context.
The time limit stipulated under the provisions of the RTI Act is normally 30 days either for supplying information or rejecting the application, from the date of receipt of such Application under Section 6(1) of the Right to Information Act, 2005. However, when such information is under the custody of other division, department or agency, the application or the relevant part of such application has to be transferred
In the case of Larsen and Toubro Ltd, Kehems Engg Pvt Ltd Vs. CST, Delhi/ CCE & ST, Indore/ CCE/ Rajkot and CCE & ST, Indore Vs. Kehems Engineering Pvt Ltd. [2015-TIOL-527-CESTAT-DEL-LB], the Five Member Bench of the Hon’ble CESTAT, Delhi
India has laws for everything. Without laws Indians follow nothing. The Children’s School Bags Act, 2006 prescribes school bags should not weigh more than 10% of the body weight of the child. Similarly, it may be proposed, that laws should not create more problems than they aim to solve.
Rule 2(e) defines ‘point of taxation’ as the point in time when a service shall be deemed to have been provided. This will be determined as per Point of Taxation Rules 2011. The determination of point of taxation shall be crucial to determine the timing of service tax liability and the applicability of rate of service tax. The taxability will be decided by point of taxation only. The Point of Taxation rules provide for various situations to determine the point of taxation.
Phishing is a kind of fraud perpetrated on the Internet. It aims at stealing the personal information of online users such as customer ID, PIN, Credit/Debit card data, etc. by assuring certain favors in return. It’s a sophisticated con act akin to catching the fish with a dangling bait. This hi-tech fraudulence is carried out through emails and websites pretending to be genuine.
Each person has a duty of his own and for others. The one who fears the consequences of the duty shies away from it. That’s why Lord Krishna made the spiritual discourse ‘Bhagavad Gita’ when the dejected warrior Arjuna refused to fight against his kith and kin in the battlefield of Kurukshetra. The Gita became the guide for human life.
CIT Vs M/s Global Reality (Madhya Pradesh High Court) The next question that needs to be answered, is, whether the stipulation in Section 80IB(10)(a) can be said to be directory. Considering the prodigious benefit offered in terms of Section 80IB to the assessee (hundred per cent of the profits derived in any previous year relevant […]
AO had made disallowance of labour payments on the basis of estimation to the extent of 20% of the expenditure. The AO has not given any basis on which he has based his finding to disallow at 20% of the expenditure on estimate basis.
With a view to promoting the ease of reporting of transactions under foreign direct investment, the Reserve Bank of India (RBI), under the aegis of the e-Biz project of the Government of India has enabled online filing of the Foreign Currency Transfer of Shares (FCTRS) returns for reporting transfer of shares, convertible debentures, partly paid shares and warrants from a person resident in India to a person resident outside India or vice versa.
