In order to make the process of registration of new NBFCs smoother and hassle free, the application form for registration of new NBFCs and the checklist of documents to be submitted have been revised. The number of documents to be submitted by the NBFC applicants has been reduced from existing set of 45 documents to 7-8 in the revised process.
The Central Bureau of Investigation has registered a case against an Inspector working in Directorate General of Central Excise (Intelligence), Dehradun U/s 13(2) r/w 13(1)(e) of the Prevention of Corruption Act, 1988 for possession of alleged disproportionate assets to the tune of Rs. 54.55 lakh (approx).
The Special Judge, Anti Corruption, Court No.3, Lucknow (Uttar Pradesh) has convicted Sh. U. P. Yadav, then Income Tax Officer; Sandeep Mohan Dubey, then Office Superintendent and Gore Lal Mishra, then Tax Assistant in a bribery case and sentenced them to undergo four years Rigorous Imprisonment with fine of Rs. 50,000/- each.
Tax Details 1st June 2016 Rooms Tariff Luxury Tax 15.00% Service Tax 8.40% Swachh Bharat Cess 0.3% Krishi Kalyan Cess 0.3% Conference Hall Vat 12.5% Service Tax 9.8% Swachh Bharat Cess .35% Krishi Kalyan Cess .35% Luxury Tax 3% Service Charge 10% Restaurant Bills Vat 12.5% Service Tax 5.6% Swachh Bharat Cess 0.20% Krishi Kalyan […]
Tax Deduction at Source is not a new concept in Indirect Taxes. The TDS Provision were already prescribed in Existing VAT Laws. The Provision of TDS were held Valid by Allahabad High Court in case of V.K. Singhal Vs. State of U.P. ( 1995) 97 STC 355.
Food is made and pre packed at some other place and packed food items are shelved on tuck shops. Tuck shops provide packed food available to the customers, employees, guests or visiting public where they are opened. Premises are not the property of tuck shop. Tuck shops are merely retail outlets where air conditioners are not installed.
NRIs have a pivotal role to play in the Indian economy. India has the second-largest Diaspora in the world, with around 29 million people living in over 200 countries and out of these 25% live in the Gulf countries. Most of the Indians going to the Gulf and some other countries go for employment and return to India after having worked abroad for a certain period.
We have a lot of verdicts and planning’s as discussed above, but due to the length constraint of a single article, we will be sharing with you some more valuable articles in a near future, till then enjoy the above cases and save your lakh of hard earned money and spend it in something more valuable.
There are some taxpayers who occasionally undertake transactions involving the supply of goods and/or services in the normal course of their business as a principal, agent or in any other capacity. They do such transactions at a place where they do not have any fixed place of business. There are two categories of such taxpayers:
The external auditor has sole responsibility for the audit opinion expressed, and that responsibility is not reduced by the external auditor’s use of the work of the internal audit function or internal auditors to provide direct assistance on the engagement.
