ITAT Mumbai has In the case of CIT Vs. Sh. Chandrakant V. Gosalia held that Loan given by Company to its substantial shareholder will attracts provisions of section 2 (22)(e) of Income Tax Act,1961 if the same were not lent in ordinary course of business and mere payment of loan amount would not escape assesse from provision of Section 2 (22)(e).
Highlights of e-Filing No of Registered Users as on 31/08/2015- 46926524 Peak rate of receipt of returns per day : (31/08/2015)- 1417227 Peak rate of receipt of returns per hour : (31/08/2015)- 150293 Peak rate of receipt of returns per minute: (31/08/2015)- 3475 Percentage of returns received outside office hours- 52.613% Percentage of returns filed […]
RELAX TO STUDY- It’s only a month left for the CA exam and two months for the CS examinations. And so it is very natural for the students to be in a bad shape and deep stress. But apart from the academic suggestion we do not normally find people who could take us around as to how to maintain our mental stress during these crucial days before the D- day; which is equally important.
Government Decides to Amend Income-Tax Act 1961 so that with Effect from 1st April, 2001, the Provisions of Section 115JB Shall Not be Applicable to a Foreign Company If the Foreign Company is a Resident of a Country Having DTAA with India and Such Foreign Company Does Not have a Permanent Establishment within the Definition of the Term in the Relevant DTAA;
Central Excise-Notification No. 20/2015 CE (NT) Dated: 24-9-2015 -100% EOU – DTA Clearance – conditions, safeguards and procedures for supply of items like tags, labels, printed bags, stickers, belts, buttons and hangers for the purpose of their exportation out of India
As per Advance Law Lexicon Vakalatnama includes memorandum of appearance or any other document by which an advocate is empowered to appear or plead before any court, tribunal or other authority.
The issue regarding leviability of service tax on remuneration paid to the directors has been matter of concern since 07.08.2012 when reverse charge mechanism was introduced vide notification no. 45/2012-ST dated 07.08.2012 for the service tax liability as regards services provided by a director to a company.
Reserve Bank of India is issuing Banknotes in Mahatma Gandhi Series 2005 with a new numbering pattern and special features for the visually impaired in ₹ 100, 500 and 1000 denominations (images of banknotes enclosed).
In connection with the declarations made by persons resident in India under the provisions of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (Black Money Act), it is clarified that: No proceedings shall lie under the Foreign Exchange Management Act, 1999 (FEMA) against the declarant with respect to an asset held abroad for which taxes and penalties under the provisions of Black Money Act have been paid.
Notification No. 20/2015-Central Excise (N.T.) Central Board of Excise and Customs hereby notifies the conditions, safeguards and procedures for supply of items like tags, labels, printed bags, stickers, belts, buttons and hangers (hereinafter referred as specified goods) produced or manufactured in an Export Oriented Undertaking (hereinafter referred to as EOU) and cleared without payment of duty to a Domestic Tariff Area (hereinafter referred to as DTA) unit in terms of Para 6.09 (g) of Foreign Trade Policy, 2015-20, for the purpose of their exportation out of India (hereinafter referred as specified purpose), namely:-
