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Archive: 06 September 2016

Posts in 06 September 2016

Free YouTube Live on The global landscape –  from market’s to trade

May 24, 2024 609 Views 0 comment Print

Join us for an insightful and dynamic YouTube Live session on “The global landscape –  from market’s to trade.” with renowned financial analyst Ankit Baid, MBA Finance. The presentation explores shifting of the global economic landscape, focusing on the decline of US dominance and the rise of China. It examines the potential decrease in global […]

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7503 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Training Plan for FSSAI Authorised Officers

September 6, 2016 1189 Views 0 comment Print

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.

No Disallowance U/s.14A for mere decrease in shareholders funds

September 6, 2016 510 Views 0 comment Print

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 […]

Addition U/s. 68 not justified for mere allotment of Shares at Premium of Rs. 39900

September 6, 2016 3199 Views 1 comment Print

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.

Systematic / Regular Sub-Leasing of premises is taxable as business Income

September 6, 2016 1420 Views 0 comment Print

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.

Service Tax Exemption on renting of precincts of a religious place-Reg.

September 6, 2016 11875 Views 3 comments Print

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).

All about ST Exemption on renting of precincts of a religious place

September 6, 2016 7066 Views 0 comment Print

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.

Nomination and Remuneration Committee Charter

September 6, 2016 6526 Views 0 comment Print

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.

CBDT Rescinds Notification Number 35/2008 dated 14.03.2008

September 6, 2016 3403 Views 0 comment Print

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.

CBDT Rescinds Notification No. 229/2007 dated 21.08.2007

September 6, 2016 2227 Views 0 comment Print

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 Charter

September 6, 2016 23551 Views 0 comment Print

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.

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