The contention of the assessee is that since final consideration was paid and the possession of flat was received within a period of one year prior to the date of transfer of capital asset, the same should be considered as the date of purchase. Whereas, the stand of Department is that the date of execution of agreement for purchase of flat should be considered as the date of purchase.
The issue under consideration is whether the disallowance made u/s 40(a)(ia) of the Act for non-deduction of tax at source from the payment made towards Harvesting charges is justified in law?
In re Uttarakhand Forest Development Corporation (GST AAR Uttarakhand) As per the provisions of section 9(3) of Act, the Government may, on the recommendations of the Council, by notification, specify categories of supply of goods or services or both, the tax on which shall be paid on reverse charge basis by the recipient of such […]
In re Uttarakhand Forest Development (GST AAR Uttarakhand) What will be applicable rate for GST on royalty payable to Govt of Uttarakhand under RCM in respect of Reta, Bazri & Boulders extracted as per the permission of Govt authorities. The services rendered by the applicant during the period 01.07.2017 to 31.12.2018 attract GST at the same rate […]
Change in rate of VAT on Petrol & Diesel in Maharashtra WEF 01.06.2020- VAT on Petrol and Diesel (Both Branded and Unbranded) is been increased by Rs. 2 per Liter by Maharashtra Government. FINANCE DEPARTMENT Madam Cama Marg, Hutatma Raiguru Chowk, Mantralaya, Mumbai 400032, dated the 29th May, 2020. NOTIFICATION MAHARASHTRA VALUE ADDED TAX ACT, […]
Provision as specified in paragraph 4 of the SEBI circular dated February 25, 2020 regarding holding of Power of Attorney by TM / CM not to be considered as equivalent to the collection of margin by TM / CM in respect of securities held in the demat account of the client, shall be applicable from June 01, 2020.
CBIC Amends Circular No. 1071/4/2019-CX.8 dated 27th August, 2019 related to various timelines under Sabka Vishwas Scheme (SVLDRS) considering relaxation provided by Taxation and Others Laws (Relaxation of certain Provisions) Ordinance, 2020. Amendment to Circular No. 1071/4/2019-CX.8 F.No.267/78/2019/CX-8-Pt. III Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs […]
Subcribers of RD Account who could not deposit the advance installments to get the benefit of rebate during the lock down period may deposit the same up to 30.06.2020. The rebate admissible as per the scheme provisions will be available at the time of deposit of advance installments.
MINISTRY OF ROAD TRANSPORT AND HIGHWAYS NOTIFICATION New Delhi, the 29th May, 2020 G.S.R. 336(E).— Whereas, the following draft rules further to amend the Central Motor Vehicles Rules, 1989, which the Central Government proposes to make in exercise of the powers conferred by Sections 27(q), 8(2), 8(6), 9(2), 11(2),15(2), 15(4), 19(1A), 25A, 41(1), 41(3), 41(8), […]
Shri Kasi Viswanathan Ramnathan Vs ITO (ITAT Chennai) The issue under consideration is whether the denial of exemption under section 54F by CIT(A) is justified in law? In the present case, assessee has claimed the exemption u/s 54F in the return including the amount which had not been utilized before 31.07.2012. But later the assessee utilized the entire sale […]
