Rationalisation Of Section 50c To Provide Relief Where Sale Consideration Fixed Under Agreement To Sell- Section 50C makes a special provision for determining the full value of consideration in cases of transfer of immovable property. It provides that where the consideration declared to be received or accruing as a result of the transfer of land or building or both, is less than the value adopted or assessed or assessable by any authority of a State Government
In this article, we are providing you basic guidance as to the execution of new listing agreement as directed by Securities and Exchange Board of India (SEBI) to all listed entities in its circular dated 13th October, 2015. The SEBI has through a Circular directed all the listed entities to execute a fresh listing agreement in accordance with the Circular No. CIR/CFD/CMD/6/2015 dated 13th October, 2015.
‘Service Tax Case Digest’, a two volume book on service tax by Dr. Sanjiv Agarwal , a city based chartered accountant and service tax practitioner, was launched on 18.01.2016 at New Delhi by Justice ‘G’ Raghuram, President of Customs Excise and Service Tax Appellate Tribunal (CESTAT), New Delhi. The release function was attended by all […]
In an important judgement in the case of Sri Anjaneya Agro Tech Private Limited Vs. The Dy. Commissioner of Commercial Taxes (Audit) [2016-VIL-63-KAR], Hon ‘ble High Court of Karnataka has ruled that assessee-dealer is entitled to claim benefit of a subsequent judgement of the court, even after completion of assessments, by filing rectification application.
Import allowed only through sea ports of Chennai and Nhava Sheva (Jawaharlal Nehru Port).
Notification No 31/2015-20 The prohibition on export of pulses till further orders as notified vide Notification No 78(RE-2013)/2009-14 dated 31.03.2014 read with Sl. No. 54 in Chapter 7 of Schedule 2 of ITC(HS) Classification of Export & Import Items, as amended from time to time, will not apply to export of Roasted Gram (whole/split) in consumer packs of 1 (one) Kg.
1. A PRESUMPTIVE INCOME SCHEME FOR PROFESSIONALS The existing scheme of taxation provides for a simplified presumptive income scheme for persons engaged in business. The Committee was of the view that this scheme is quite popular amongst small traders. It was felt that there is a strong case for introducing a similar simplified presumptive income […]
1. RECOMMENDATION TO INCREASE THE ELIGIBILITY UNDER THE PRESUMPTIVE SCHEME FOR SMALL BUSINESSES FROM THE EXISTING RUPEES ONE CRORE TO RUPEES TWO CRORE The existing presumptive income scheme under section 44AD of the Income Tax Act is applicable to an individual, Hindu undivided family or a partnership firm (not to limited liability partnership). This scheme […]
It is recommended that the threshold limit may be revised from the present one crore rupees to two crore rupees for assessees carrying on business and from the present twenty-five lakhs rupees to rupees one crore for assessees exercising a profession.
According to the CBEC Education Guide on Taxation of Services, 2012 value of construction service provided to such land owner will be the value of the land when the same is transferred and the point of taxation will also be determined accordingly.
