"04 September 2015" Archive

SEBI amends Listing and Disclosure Regulations

SEBI has notified SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) on September 2, 2015, after following the consultation process. A time period of ninety days has been given for implementing the Regulations....

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Posted Under: SEBI |

Benchmarking Under Transfer Pricing

The purpose of a benchmarking study is to select comparable transactions by rationally deriving arm’s length price based on the financial data of selected comparable. On one side the comparables selected by assesses are rejected in many cases particularly of loss making companies and on the other hand high margin comparables are cherry ...

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Posted Under: SEBI |

Mistakes to be Avoided While Filing An Income Tax Return

Incorrect Bank Account Number and IFSC code- Bank Account Number entered in ITR shall not be less than 9 digits in any case and an accurate IFSC code should be specified, otherwise it may delay your Income Tax Refund....

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Posted Under: SEBI | ,

S.54 Exemption on advance to builder- Non completion of construction & transfer of title

Shri Hasmukh N. Gala Vs Income Tax Officer (ITAT Mumbai)

ITAT Mumbai has held in the case of Hasmukh N. Gala vs. ITO that Giving advance to builder constitutes 'purchase' of new house even if construction is not completed and title to the property has not passed to the assessee within the prescribed period. ...

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Taxes to Be Subsumed In GST

GST is commonly described as indirect, comprehensive, broad based consumption Tax. The Dual GST which would be implemented in India will subsume many consumption taxes. The objective is to remove the multiplicity of tax levies thereby reducing the complexity and remove the effect of Tax Cascading. The objective is to subsume all those tax...

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Posted Under: SEBI |

Impact under GST on Job work transactions

Goods and Service Tax (GST) upcoming in India is likely to result in widening the tax base substantially by covering large number of potential taxpayers who are hitherto not covered in the tax net either due to their activity not being in the nature of taxable or due to some exemption being claimed. It is talked that the present assessee ...

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Posted Under: SEBI |

Purchases of materials from a person other than the customer is not a works contract –TDS is not applicable

CIT Vs The Executive Engineer (Karnataka High Court, Kalaburagi Bench)

In the case of Commissioner of Income Tax Vs The Executive Engineer Court of Karnataka( Kalaburagi Bench) has held that if a person executing the work, purchases the materials from a person other than the customer...

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Notification No. 90/2015-Customs (N.T.) Dated: 04/09/2015

Notification No. 90/2015-Customs (N.T.) (04/09/2015)

the Central Board of Excise and Customs hereby appoints the Additional/Joint Commissioner of Customs, Inland Container Depot, Patparganj, Gazipur Village, Delhi to act as a Common Adjudicating Authority to exercise the powers and discharge ...

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Notification No. 89/2015-Customs (N.T) Dated: 04/09/2015

Notification No. 89/2015-Customs (N.T) (04/09/2015)

In exercise of the powers conferred by sub-section (1) of section 4 and sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs, hereby appoints...

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Notification No. 88/2015-Customs (N.T.) Dated: 04/09/2015

Notification No. 88/2015-Customs (N.T.) (04/09/2015)

In exercise of the powers conferred by sub-section (1) of section 4 and sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby appoints the Joint/Additional Commissioner of Customs (Export) ...

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