"08 December 2015" Archive

Sec. 80C deduction on Investment in HDFC Retirement Saving Fund eligible from AY 2016-17

Notification No. 91/2015 - Income Tax 08/12/2015

Notification No. 91/2015 - Income Tax Central Government hereby specifies the HDFC Retirement Savings Fund, set up by the HDFC Mutual Fund registered under the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 having registration No. MF/044/00/6, dated the 30th June 2000, as a pension fund for the purposes of the sa...

Equivalence of two educational qualifications is a technical and academic matter and it must be done by a specific order by experts in field

Reshamlal Pradhan, Vs State of Chhattisgarh, (Chhattisgarh High Court)

Distinguished issue that has cropped up for consideration is whether this Court in its jurisdiction under Article 226 of the Constitution of India can draw equivalence of two educational qualifications and declare equivalence, that too after initiation of recruitment process....

Income-tax (19th Amendment) Rules, 2015 related to specified domestic transaction

Notification No. 90/2015 - Income Tax 08/12/2015

Notification No. 90/2015 - Income Tax In the Income-tax Rules, 1962 (hereinafter referred to as the said rules), in rule 10D, for sub-rule (2A), the following sub-rule shall be substituted, namely:- (2A) Nothing contained in sub-rule (1), in so far as it relates to an eligible specified domestic transaction referred to in rule 10 THB , sh...

ICSI Request for recognition of Company Secretaries under proposed Goods and Services Tax Law

We wish to bring to your kind notice that the Reports recognizes/authorises, Chartered Accountants for the following certifications/role: A. Issue of Certificate certifying the fact of non-passing of the GST burden (Report for GST on refund process). B. Act as Authorised Representative in the matter of registration under Goods and Service...

Posted Under: Income Tax |

ICSI on Proposed Exclusion of ICSI Members from registering as Trade marks agents

Proposed Rule 147 of the Draft Trade Marks Rules, 2015 corresponding to Rule 150 of the Trade Marks Rules, 2002, has excluded the specific recognition granted to the members of the Institute to be registered as Trade marks agents. The draft Rule 147(iii) does not include the words or is a Member of the Institute of Company Secretaries of ...

Posted Under: Income Tax |

ICAI announces fresh dates for voting in flood affected Chennai Region

In exercise of powers conferred on me under sub-rule (3) of rule 4 of the Chartered Accountants (Election to the Council) Rules, 2006, it is hereby notified for general information of the candidates for election to the Council from Southern India Regional Constituency and Southern India Regional Council and the affected voters that 18th a...

Posted Under: Income Tax |

Anti-dumping duty on Gliclazide, originating in, or exported from China

Notification No. 59/2015-Customs (ADD) 08/12/2015

Notification No. 59/2015-Customs (ADD) Seeks to levy definitive anti-dumping duty on Gliclazide, originating in, or exported from the Peoples Republic of China for a period of five year ...

Binding Nature of Board Circulars-Confusion Settled or Created?

The binding nature of the Circulars issued by Board is the issue that has been a matter of litigation since inception. There have been a number of decisions on this matter, that too, of Supreme Courts which have added fuel to the fire of litigation. There has been a constant fight between assessees and revenue department regarding the app...

Posted Under: Income Tax |

Process and Checklist For Secretarial Audit

Secretarial Audit a Governance measure that will have a positive effect on corporate entity. It is Compliance Audit system that used to carrying out auditing of compliances along with all Rules and Regulation made there under. It is a process to check compliances made by the Company under various Law, Rules, Regulation, and Procedure....

Posted Under: Income Tax |

No Service tax leviable on handling charges incurred for bringing goods, when it was included in value of goods liable to VAT

Automotive Manufacturers (P.) Ltd. Vs Commissioner of Central Excise & Customs, Nagpur (CESTAT Mumbai)

The Hon’ble CESTAT, Mumbai, relying upon the decision in the case of Ketan Motors Ltd. Vs. CC, CE & ST [Final Order No. A/321/2013-WZB/C-1 (CSTB), dated 18-2-2013], held that Section 67 of the Finance Act mandate levy of Service tax on a value or consideration received for rendering the services. ...

Posted Under: Income Tax |

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