The professionals have been brought under the ambit of Presumptive Taxation for the first time in history of Indian Taxation by virtue of Section 44ADA proposed in the Union Budget 2016. It would be a welcome step provided that the proposed Net Profit (NP) rate would be rational. The Presumptive NP rate of 50% on […]
Grievance redressal is a major aspect of citizen centric governance and is an important feature of the activities of the Income Tax Department. The Income-tax Department is addressing grievances through a multi-layered grievance redressal machinery including Centralised Public Grievance Redress and Monitoring System (CPGRAMS), Aayakar Seva Kendras (ASK), online grievance redressal through Central Processing Centre (CPC), etc.
In exercise of the powers conferred by section 31 of the Securities Contracts (Regulation) Act, 1956 read with sections 11 and 30 of the Securities and Exchange Board of India Act, 1992, the Securities and Exchange Board of India hereby makes the following regulations to further amend the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2012, namely:—
In exercise of the powers conferred by sections 11 and 30 of the Securities and Exchange Board of India Act, 1992 read with section 25 of the Depositories Act, 1996, the Securities and Exchange Board of India hereby makes the following regulations to further amend the Securities and Exchange Board of India (Depositories and Participants) Regulations, 1996, namely:—
There can be a situation where units are fully exempted from payment of Central excise duty as the value of the clearances for home consumption is less than 1.5 crore. However, total value of clearances (domestic plus export) is more than 4 crore. Let’s take an example for better understanding
The article deals with the spin offs with respect to one of the proposed amendments in Service tax by Finance Bill 2016 A. THE VALUATION ISSUE As we know it today, the activity of transportation of goods by an aircraft or a vessel from a place outside India up to the customs station of clearance […]
In exercise of powers conferred under paragraph 2.04 of the Foreign Trade Policy 2015- 2020, the Director General of Foreign Trade hereby makes amendment in Appendix 2C of Appendices and Aayat Niryat Forms of FTP 2015-20 i.e., list of agencies authorized to issue Generalized System of Preferences (GSP) Certification to include Tobacco Board, in the list as under:-
No Specific Stipulation Contained In Rule 10 of The Cenvat Credit Rules, 2004 Regarding Prior Permission From The Statutory Authorities For Transferring The Cenvat Credit As A Result Of Amalgamation/Merger: CESTAT Delhi
With the ever changing face of technology and networking, Startup is no more a buzz word in India. The young generation is ready to go lengths and risk their career map to ideate a startup.
In the definition of the term Service, sub-clause (ii)(a) of Explanation 2 is proposed to be amended to clarify that activity carried out by a lottery distributor or selling agents of the State Government under the provisions of the Lotteries (Regulation) Act, 1998, is leviable to service tax.
