"26 July 2016" Archive - Page 4

Order No. 140 of 2016- Postings/Transfers in the grade of ACIT/DCIT

Order No. 140 of 2016 (26/07/2016)

The following postings I transfers in the grade of Assistant/ Deputy Commissioner of Income Tax are, hereby, ordered with immediate effect and until further orders:-...

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Vacancy for Chairman & Whole Time Members in Insolvency & Bankruptcy Board of India

Applications are invited for the post of Chairperson and three Whole Time Members in the Insolvency and Bankruptcy Board of India, a statutory body to be established under the Insolvency and Bankruptcy Code, 2016....

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Posted Under: Income Tax |

Stay matters in tax appeals – Need for equitable redressal meachanism

It is common experience of trade, industry and professionals to come across stay orders passed by appellate authorities in tax appeals, in a very routine and un-lawful manner, without going into the facts and merits of the case, ordering for deposit of major portion of the disputed demand that shake the faith of the assessees in the redre...

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Posted Under: Income Tax |

Attachment of Bank Account, pending stay petition, by VAT Authorities

Many a time, bank accounts are attached while stay petition filed by the dealer is pending before the appellate authority. Attachment notice is sent to the bank along with notice to the dealer to deposit pending disputed dues, without giving any opportunity to the dealer to represent his case. In some of the cases, attachment notices...

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Posted Under: Income Tax |

An Overview of Foreign Investment – Reporting Of FC-GPR

Foreign Direct Investment (FDI) in India is undertaken in accordance with the FDI Policy which is formulated and announced by the Government of India. The Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India issues a “Consolidated FDI Policy Circular ”...

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Posted Under: Income Tax |

Features and steps involved in incorporating One Person Company

One person company is an entity which consists of only with one person and is considered as a private company for all legal purposes. This concept was introduced in India through the companies’ act 2013....

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Posted Under: Income Tax |

Interest free loan to AE – Crime?

Instrumentarium Corporation Limited, Finland Vs. Assistant Director of Income Tax International Taxation (ITAT Kolkata)

The critical question before special bench: Whether, on the facts and in the circumstances of the case, no arm’s length rate of interest was required to be charged on the loan granted by the non-resident assessee-company to its wholly owned subsidiary Indian company M/s. Datex-Ohmeda (India) Pvt. Ltd. (Datex)?...

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5 traits of a poor financial advisor

A person can be termed as one, who is a true value addition to your financial wealth as well as provides you with profitable advice to enhance your quality of life. In other words, any person qualified enough to advice you on your fiscal matters so that you gain the confidence to follow that advice. This was just a brief definition for a ...

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Posted Under: Income Tax |

FAQs on Maharashtra Profession Tax Amnesty Scheme-2016

Govt. of Maharashtra has declared an Amnesty Scheme for the persons who have not obtained enrolment certificate yet. Government has decided to take stringent action against the defaulters after the scheme is over. This is the last chance given by Government before initiation of action....

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Posted Under: Income Tax | ,

Bid rigging under Competition Act, 2002

The Competition Appellate Tribunal (COMPAT) is established under Section 53A to hear and dispose of appeals against any direction issued or decision made or order passed by the Commission under specified sections of the Act....

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Posted Under: Income Tax |