Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert CA Hari Agarwal, FCA.
With reference to FSSAI order No. 1-1371/FSSAI/Imports/2015 dated 29th March 2016 delegating authority to Customs Officers to perform the functions of an ‘Authorised Officer’ under food safety laws, CBEC has issued instructions vides F.No.450/146/2015-Cus-IV dated 31st August 2016 wherein respective Commissioners of Customs have been requested to contact the nearest offices of the FSSAI and organize training. FSSAI has planned a one day training programme as per Annexure 2 below.
CIT Vs M/s Max India Limited (Punjab and Haryana HC) Where assessee’s borrowings of interest bearing funds got increased during the year, it could not be presumed that such borrowed funds were utilized for the purpose of investing in assets yielding exempt income and disallowance under section 14A made on the basis of such unfounded […]
From the working submitted by the Appellant, it is evident that the value of each share is worked out at Rs. 40,616/-. Thus, apparently, higher share premium of Rs. 39,900/- is justifiable because of limited number of shares of the assessee company who are actual owner of assets of worth more than Rs. 60 crores.
Assessee carried on a systematic and regular activity in the nature of business and therefore the income from granting the premises on sub-license was to be assessed under the head income from business.
Vide notification No. 40/2016-Service Tax , Exemption on renting of precincts of a religious place meant for general public is been restricted to only charitable or religious trust U/s. 12AA of the Income-tax Act, 1961 or a trust or an institution registered U/s. 10(23C)(v) of Income-tax Act or a body or an authority covered under section 10(23BBA).
The notification 25/2012 exempts services by way of renting of precincts of a religious place meant for general public. ‘Religious Place’ has been defined in the notification to mean a place which is primarily meant for conduct of prayers or worship pertaining to a religion, meditation or spirituality.
The Nomination and Remuneration Committee have primary objective of: 1.Identify persons who are qualified to become directors of the Board and recommend the same to the Board. 2. Identify persons who may be appointed in senior management of the Company and recommend the same to the Board.
Central Government hereby rescinds the notification of the Government of India, Ministry of Finance, Department of Revenue number 35/2008 dated 14th March, 2008 published in the Gazette of India, Part II, Section 3, Subsection (ii) vide S.O. 798 dated 14th March, 2008 with effect from 1st April, 2007 and shall be deemed that the said notification has not been issued for any tax benefits under the Income-tax Act, 1961 or any other law of the time being in force.
Central Government hereby rescinds notification of the Government of India, Ministry of Finance, Department of Revenue number 229/2007 dated 21st August, 2007 published in the Gazette of India, Part II, Section 3, Subsection (ii) vide S.O. 2428 dated 21st August, 2007 with effect from 1st April, 2004 and shall be deemed that the said notification has not been issued for any tax benefits under the Income-tax Act, 1961 or any other law of the time being in force.
Stakeholder Relationship Committee is a committee of the Board of Directors established in accordance with the Company’s constitution and authorised by the Board to assist it in fulfilling its statutory, fiduciary and regulatory responsibilities.
