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Archive: December, 2015

Posts in December, 2015

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

May 15, 2024 7179 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.

Reimbursement of salary cost of high level managerial personal can be treated as FTS

December 31, 2015 1619 Views 0 comment Print

Food world Supermarkets Ltd. vs.DCIT- ITAT Bangalore observed that the 5 seconded employees were not ordinary employees or workers but they were deputed at the high level managerial/executive positions which showed that they were deputed because of expertise and managerial skills in the field.

Delegating of powers to RDs U/s. 208 of Companies Act, 2013

December 31, 2015 1520 Views 0 comment Print

n exercise of the powers conferred by section 458 of the Companies Act, 2013 (18 of 2013) the Central Government hereby delegates to the Regional Directors at Mumbai, Kolkata, Chennai, Delhi, Ahmedabad, Hyderabad and Shillong, the power vested in it under section 208 of the said Act for receiving the report from the Registrar (having jurisdiction over the place of registered office of the company concerned)

Delhi VAT- DP-1 to be submitted online by all dealers latest by 31/01/2016

December 31, 2015 584 Views 0 comment Print

In partial modification of Notification No.F.3(352)Policy/VAT/2013/1062-73 dated 23/11/2015 regarding submission of information online in Form DP-1, I, Sanjeev Khirwar, Commissioner, Value Added Tax, Government of National Capital Territory of Delhi, in exercise of the powers conferred on me by sub-section(1) read with sub­section (2) and (3) of section 70 and sub-section (2) of section 59 of Delhi Value Added Tax Act, 2004, notify that the Form DP-1 shall be submitted online by all the dealers latest by 31/01/2016. The form shall be filed by dealers registered upto 31/10/2015.

Notification No. 27/2015-Central Excise (N.T.) Dated- 31st December, 2015

December 31, 2015 1273 Views 0 comment Print

Notification No. 27/2015-Central Excise (N.T.) In the CENVAT Credit Rules, 2004, in rule 9, in sub-rule (1), in clause (d), after the words “ Foreign Post Office, the words or, as the case may be, an Authorized Courier, registered with the Principal Commissioner of Customs or the Commissioner of Customs in-charge of the customs airport, shall be inserted.

Surveillance on determination of Place of Effective Management

December 31, 2015 895 Views 0 comment Print

It is imperative to understand the sense behind introducing the concept of Place of Effective Management (hereinafter refereed as POEM first, before embarking determination aspect of Place of Effective Management. POEM is not a new concept at all; it is an internationally recognised test for determination of residence of a company incorporated in a foreign jurisdiction.

CBDT December excellent moves shall have a morale boosting effect on Tax Practice

December 31, 2015 1610 Views 0 comment Print

In the month of December, CBDT has shown some excellent moves towards a flow less tax assessment regime. The moves are encouraging and laudable. It clearly establishes that CBDT has finally decided to take on the obstacles in the field of assessment proceedings. This is also adorable at the part of the Finance Ministry to roll down the announcements as and where is basis rather than waiting for the coming budget to announce the measures for tax reforms.

Notification No. 150/2015-Customs (N.T.) Dated- 31st December, 2015

December 31, 2015 1060 Views 0 comment Print

Notification No. 150/2015-CUSTOMS (N. T.) Gold, in any form, in respect of which the benefit of entries at serial number 321 and 323 of the Notification No. 12/2012-Customs dated 17.03.2012 is availed- 345 per 10 grams

SEBI issues list of 221 Companies issuing Shares/ Debentures in Violation of Law

December 31, 2015 14610 Views 0 comment Print

Some unlisted companies are luring retail investors by issuing securities including non-convertible and convertible debentures/ non-convertible and convertible preference shares/ equity shares in the garb of private placement, without complying with the provisions of Companies Act, 1956 read with the Companies Act, 2013, SEBI (Issue and Listing of Debt Securities), Regulations, 2008, SEBI (Issue and Listing of Non-Convertible Redeemable Preference Shares), Regulations, 2013 and SEBI (Issue of capital and Disclosure Requirements) Regulations, 2009.

ITAT remitted the matter to AO where no verification of documents filed under rule 46A was sought

December 31, 2015 577 Views 0 comment Print

The return of income was filed on 31.10.2005 at an income of Rs. 4,04,020/- for AY 2005-06. During the course of assessment proceedings, the AO took note of the fact that the assessee and his wife purchased property at front and rear side of portion at ground floor for a consideration of 40 Lakh each and 3,20,000 was paid as stamp duty on each portion.

Consultation paper for guidelines for public issue of units of Real Estate Investment Trusts

December 31, 2015 546 Views 0 comment Print

SEBI REIT Regulations were notified on 26th September, 2014, thereby providing a regulatory framework for registration and regulation of REITs in India. The Regulations, inter alia, provide that ‘The Board may specify by issue of guidelines or circulars, any other requirements, as it deems fit, pertaining to issue and allotment of units by an REIT.

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