"22 June 2018" Archive - Page 3

Section 80C deduction on Joint Holding of National Saving Certificate

Sec 80C of Income Tax Act, 1961 allows deductions on National Saving Certificate Investment Maximum Limit allowed is Rs 150000/- per Financial Year...

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Posted Under: Income Tax |

Construction of Pooling Substation with transmission line is composite supply: AAR

In re Vihan Enterprises, Swati Dubey (GST AAR, Madhya Pradesh)

What is HSN in which the service of construction of new 33/220 kV Pooling Substation at Badwar, REWA along with associated 220 kV DCDS Transmission Line and associated feeder bay work on total Turnkey basis against Bid Identification No. RUMS/2016-17/372/014 (Lot-I) under World Bank Financing shall fall?...

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No GST on project management consultancy services under PMAY contract

In re Egis India Consulting Engineers Private Limited (GST AAR Madhya Pradesh)

Whether the Project Development and Management Consultancy services ('PDMC') provided by Applicant to recipient under the Contract for AMRUT; and the Project Management Consultancy services ('PMC') under the Contract for PMAY would qualify as an activity in relation to function entrusted to Panchayat or Municipality under Article 243G or ...

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Investments which qualifies for deduction u/s. 80C

Under this section, you can invest a maximum of Rs 1.50 lakh (1 Lakh upto AY 2014-15) and if you are in the highest tax bracket of 30%, you save a tax of Rs 45000. The various investment options under this section include:PPF; Life Insurance Premium, Equity Linked Savings Scheme (ELSS), Provident Fund (PF) & Voluntary Provident Fund (VPF)...

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Notification No. 57/2018-Customs (N.T.), Dated-22.06.2018

Notification No. 57/2018-Customs (N.T.) [G.S.R.582 (E)] 22/06/2018

MINISTRY OF FINANCE (Department of Revenue) Notification No. 57/2018 – Customs (N.T.) New Delhi, the 22nd June, 2018 G.S.R.582(E).— In exercise of the powers conferred by section 11 of the Customs Act,1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the f...

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Intellectual Property Rights (Imported Goods) Enforcement Amendment Rules, 2018

Notification No. 56/2018-Customs (N.T.) [G.S.R. 581 (E)] 22/06/2018

1 (i) These rules may be called the Intellectual Property Rights (Imported Goods) Enforcement Amendment Rules, 2018. (ii) They shall come into force on the date of their publication in the Official Gazette....

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Tribunal cannot pass order beyond 3 months of conclusion of hearing of appeal

Cromption Greaves Limited Vs. CIT (ITAT Mumbai)

Cromption Greaves Limited Vs. CIT (ITAT Mumbai) This M.A. has been filed by the assessee seeking recall of the order of the tribunal in ITA no. 1994/Mum/2013 dated 01-02-2016 . The learned counsel for the assessee pressed only one ground before the Bench that the tribunal order dated 01-02-2016 was passed beyond period of 90 […]...

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No addition for Gift from daughter if Assessee proves identity, genuineness & creditworthiness

Padmalatha Tama Vs Income-tax Officer (ITAT Hyderabad)

Briefly the facts of the case are, assessee who derives income from house property and income from other sources, filed her return of income for the AY 2010-11 on 27/07/2010 declaring an income of Rs. 17,75,810/-. Subsequently, the case was selected for scrutiny under CASS and accordingly notice u/s 143(2) dated 25/08/2011 was issued and ...

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Reopening based on vague and non-speaking reasons is reopening without jurisdiction

Sunil Agarwal Vs ITO (ITAT Delhi)

Sunil Agarwal Vs ITO (ITAT Delhi) We find that there is no allegation in the reasons recorded that there is failure on the part of the assessee to disclose fully and truly all material facts necessary for assessment u/s 147 of the Act, the notice issued u/s. 148 of the Act after a period of […]...

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Expenses on replantation without any expansion of plantation area or replantation in an abandoned area are not capital expenditure

A.C.I.T. Vs M/s Gillanders Arbuthnot & Co.Ltd.(ITAT Kolkata)

ACIT Vs M/s Gillanders Arbuthnot & Co. Ltd. (ITAT Kolkata) 1. Expenses on replantation without any expansion of plantation area or replantation in an abandoned area are not capital expenditure Capital expenditure involves an investment increasing the capital for higher profit. The expansion means extension of plantation to an addition...

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