"12 April 2017" Archive
Appointment of CA Firms with PSPCL for IND-AS implementation
The offer shall be considered only from Indian, Technically competent, experienced and financially sound Chartered Accountant firms who meet the following pre-qualification requirements/criteria:...
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TDS U/s. 195 not applicable on Payment under Secondment if same is taxable in India as Salary
Burt Hill Design Pvt Ltd Vs Deputy Commissioner of Income Tax (ITAT Ahmedabad) -
By way of this appeal, the assessee appellant has challenged correctness of learned CIT(A)’s order dated 10th Jul 2012, in the matter of assessment under section 143(3) of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) for the assessment year 2009-10....
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No LTC / Tax benefit on Foreign Tours provided to staff, TDS deductible
State Bank of India Vs ACIT (ITAT Jaipur) -
The provisions of the Act are in relation to the travel concession/assistance given for proceeding on leave to any place in India and the said concession is thus exempt only where the employee has utilized the travel concession for travel within India. Further under Rule 2B of the Income Tax Rules the condition for allowing exemption unde...
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Govt to implement SC Judgment on Target Plus Scheme under FTP 2004-09
It held that the Notification No. 48/2005 dated February 20, 2006 (certain products were made ineligible) and Notification No. 8/2006 dated June 12, 2006 (rates were reduced to 5% from the earlier 5, 10 and 15%) related to the Target Plus Scheme (TPS) could not be applied retrospectively and they would be effective only from the date of t...
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Duty of employer to inform employee of his rights for Compensation
Notification No. 11 of 2017 - (12/04/2017) -
Section 17A. Every employer shall immediately at the time of employment of an employee, inform the employee of his rights to compensation under Employee's Compensation (Amendment) Act, 2017....
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Central Goods and Services Tax Act, 2017
NO. 12 OF 2017 - (12/04/2017) -
1. (1) This Act may be called the Central Goods and Services Tax Act, 2017. (2) It extends to the whole of India except the State of Jammu and Kashmir. An Act to make a provision for levy and collection of tax on intra-State supply of goods or services or both by the Central Government and for matters connected therewith or incidental t...
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Entry of Indian Corporates in E-Commerce
Did you know that India is the fastest growing market for e-commerce? The e-commerce market in India is expected to hit $64 billion by 2021. In Asia Pacific, fashion and apparel tops the list followed by consumer electronics and computer hardware. ...
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Integrated Goods and Services Tax Act, 2017
No. 13 of 2017 - (12/04/2017) -
An Act to make a provision for levy and collection of tax on inter-State supply of goods or services or both by the Central Government and for matters connected therewith or incidental thereto....
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Union Territory Goods and Services Tax Act, 2017
No. 14 of 2017 - (12/04/2017) -
1. (1) This Act may be called the Union Territory Goods and Services Tax Act, 2017. (2) It extends to the Union territories of the Andaman and Nicobar Islands, Lakshadweep, Dadra and Nagar Haveli, Daman and Diu, Chandigarh and other territory....
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Tax Exemption to Startups in India
Press Information Bureau Government of India Ministry of Commerce & Industry 12-April-2017 13:18 IST Tax Exemption to Startups Various tax exemptions have been given to Startups in the recent past – Following direct tax incentives were provided in Income-tax Act,1961 (‘the Act’) to promote Start-ups through Finance Act,2016:...
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- Notice U/s 143(2) issued prior to furnishing of return in response to Notice U/s. 148 is invalid
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