It is recommended that the threshold limit may be revised from the present one crore rupees to two crore rupees for assessees carrying on business and from the present twenty-five lakhs rupees to rupees one crore for assessees exercising a profession.
According to the CBEC Education Guide on Taxation of Services, 2012 value of construction service provided to such land owner will be the value of the land when the same is transferred and the point of taxation will also be determined accordingly.
References have been received in Central Office regarding the compliance status of Indian employees working in a covered establishment and moving to work in a foreign country. It has been observed that different offices are adopting varied practices with regard to continuance of compliance of such employees while they are working or proceeding to work in a foreign country. Thus, need has been felt to revisit the same and bring a consolidated set of guidelines to handle possible scenarios.
In Century Spg. & Mfg. Co. Ltd. – 1997 (94) E.L.T. 16, the Supreme Court held that service and maintenance charges in respect of tonners/cylinders which are durable and returnable cannot be added to the assessable value of the chlorine manufactured by the assesses and supplied to the customers in tonners/cylinders
Let’s begin our journey with new business era of tax breaks and mega fund announced by PM Modi on 16 January, 2016 at New Delhi START UP INDIA. Vision is to Open Doors for New and Innovative Ideas. The 19-point Action Plan came with the promise that the role of the government will be of a facilitator and not more than that. Entrepreneurs will become free from complicated compliance requirements.
CS Priyanka Gera Executive Summary Ministry of Corporate Affairs (hereinafter referred to as “MCA”) has issued notification on Investor Education and Protection Fund Authority (Appointment of Chairperson and Members, holding of meetings and provision for offices and officers) Rules, 2016 (hereinafter referred to as “IEPF Rules”) in order to exercise the powers conferred by sub-sections […]
Result of Computer Based Examination (CBE) for CS Foundation Programme held in December, 2015 would be declared on Wednesday, the 27th January, 2016 at 11.30 A.M. The result alongwith individual candidate’s subject wise break‑up of marks will be available on the Institute’s website:
Notification No. 1/2016-Customs(CVD) Seeks to levy definitive countervailing duty on import of Castings for wind-operated electricity generators whether or not machined, in raw, finished or sub-assembled form, or as a part of a sub-assembly, or as a part of an equipment/ component meant for wind-operated electricity generators originating in, or exported from the People’s Republic of China for a period of five years.
In the notification No. 43/2014 –Customs (N.T.) dated 23.05.2014 issued vide F. No. 394/136/2011-Cus (AS) by Ministry of Finance, Department of Revenue, the words appearing in the opening paragraph namely,-
Amendments to Section 14A to provide that (i) dividend received after suffering dividend-distribution tax and share income from firm suffering tax in the firm’s hands will not be treated as exempt income and no expenditure will be disallowed as relatable to them; (ii) expenditure disallowed shall not exceed the amount claimed. Recommendation for issue of […]
