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"29 April 2016" Archive

Revision in TDS due date & Supporting for claim of Deduction from Salary

Notification No. 30/2016-Income Tax 29/04/2016

26C. Furnishing of evidence of claims by employee for deduction of tax under section 192.- (1) The assessee shall furnish to the person responsible for making payment under sub-section (1) of section 192, the evidence or the particulars of the claims referred to in sub-rule (2), in Form No.12BB for the purpose of estimating his income or ...

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Income from letting out assessable as business income if such letting out is assessee’s primary business object

DCIT vs. M/s. Alexandria Knowledge Park Pvt. Ltd. (ITAT Hyderabad)

When the object of assessee’s business is to develop and let out the properties then even when it is also providing other facilities to tenants still the assessee’s income will be assessable as business income....

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ICAI President's Message May 2016

The Indian accountancy profession has consolidated itself internationally to register its wise, strong and empowering global presence. Today, Th e Institute of Chartered Accountants of India produces world-class professionals who along with the desired IT and soft skills are professionally competent and fi t to work in and for internation...

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Posted Under: Income Tax |

Process-Compounding of delay In filing Resolution in Form MGT 14

AS PER SECTION-117 OF COMPANIES ACT, 2013: Sub- Section 1 of Section- 117: A Copy Of Every Resolution or any agreement, in respect of matters specified in sub-section (3) *** together with the explanatory statement under section 102, if any, annexed to the notice calling the meeting in which the resolution is proposed, shall be […]...

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Posted Under: Income Tax |

Station House Officer of Police Station can transfer case diary of cognizable offence only after completion of investigation to Police Station having jurisdiction.

Aaisha Uttarwar Vs State of Chhattisgarh (Chhattisgarh High Court)

Petitioner herein seeks to challenge the transfer of First Information Report (hereinafter referred as “F.I.R.”) No. 0/2015 registered at Police Station Tarbahar, Bilaspur, District Bilaspur (Chhattisgarh) dated 28/06/2015 for offence under Section 498-A of the Indian Penal Code (hereinafter called as “IPC”) by the Superintendent ...

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Name Approval Guidelines For Companies Under Companies Act, 2013

In old Companies Act, 1956 Ministry had issued name availability guidelines by way of (Companies (Name Availability) Rules, updated in 2011). In the new Companies Act, 2013 name availability guidelines for Company are given under Rule 8 of the Companies (Incorporation) Rules, 2014. Given below are precautions that must be kept in mind whi...

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Posted Under: Income Tax |

In order to maintain a writ petition questioning appointment of a person, the writ petitioner must be a person qualified for the post/non-appointee.

Dr. Avinash Samal Vs State of Chhattisgarh (Chhattisgarh High Court)

Invoking the extra-ordinary jurisdiction of this Court under Article 226 of the Constitution of India, the petitioner herein calls in question the order Annexure P-1 dated 2-12-2014 whereby and whereunder, respondent No. 4 – Hon'ble Chancellor of Hidayatullah National Law University, Raipur (for short 'the HNLU') in exercise of his powe...

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TDS on Commission paid to non-resident for services rendered outside India?

CIT Vs Farida Leather Company (Madras High Court)

In the instant case, it is seen, admittedly that the nonresident agents were only procuring orders abroad and following up payments with buyers. No other services are rendered other than the above. Sourcing orders abroad, for which payments have been made directly to the non-residents abroad, does not involve any technical knowledge or as...

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Your Dream Home is just a Click Away

Success has always been at your side and your passions have driven you to grow your business and look to new horizons. Live life to the fullest and build the dream home that you have always wanted. This video by Aditya Birla Finance home loan will make you re-envision yourself and set your sites on […]...

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Posted Under: Income Tax |

MVAT: Govt notifies Form 402A, 404A, 424A, 703, 703A,703B, 703C, 703D, 703E

Notification No. VAT. 1516/CR 64/Taxation-1 29/04/2016

These rules may be called the Maharashtra Value Added Tax (Third Amendment) Rules, 2016. (i) where the registration is to be cancelled under sub-clause (a) of the second proviso, the date of effect of the certificate of registration issued; (ii) where the registration is to be cancelled under the sub-clause (b) of the second proviso, the ...

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