The Supreme Court was considering an issue as to whether income derived from a building can be said to be used for charitable purpose by running of a free medical aid to the needy and poor in the context of tax exemption under Municipal laws.
In exercise of the powers conferred under sections 173, 175, 177, 178, 179, 184, 185, 186, 187, 188, 189 and section 191 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Meetings of Board and its Powers) Rules, 2014, namely:– 1. (1) These rules may be called the Companies (Meetings of Board and its Powers) Amendment Rules, 2015.
We hereby nominate the following person in place of as nominee in respect of the below mentioned securities in whom shall vest all rights in respect of such securities in the event of my/our death.
Henceforth, registration shall mandatorily require that the PAN number of the proprietor or the legal entity being registered be quoted with the exception of the Government Departments for whom this requirement shall be non-mandatory. Applicants, who are not Government Department, shall not be granted registration in the absence of PAN number.
The much awaited Budget 2015 has introduced numerous amendments in Service Tax and CENVAT Credit Rules, 2004 (CCR). Few amendments (such as rate increase in service tax, subsuming cess etc) have been made in order to align the existing laws with proposed GST. In this article, we will discuss key issues and anomaly in the Budget 2015 provisions.
2.. In view of difficulties reported vide above referred letter, in the processing of returns in AST of foreign technicians filed by representative assessees, the CBDT has approved ‘Online TMS(category 2)’ for processing of such returns. Therefore, an online ‘Online TMS(category 2)’ functionality has been provided in ITD-AST application under AST TMS Online TMS – Category 2.
Where an educational institution carries on the activity of education primarily for educating persons, the fact that it makes a surplus does not lead to the conclusion that it ceases to exist solely for educational purposes and becomes an institution for the purpose of making profit.
Local Body Tax to be abolished from 1st August 2015. Compensation of Revenue by enhancing VAT tax rate. Women drawing salary upto to Rs. 10000 per month exempted from Profession Tax . Tax rate on ladies Hand Bags and Purses reduced from 12.5 per cent to 5 per cent. Work Book, Graph Book, Drawing Book and Laboratory Book for student’s tax free.
The factual matrix of the present case is that there was a criminal case against the assessee with an allegation of custom duty evasion and he incurred impugned expenditure of legal fees for hiring lawyers to represent his criminal case before the Hon’ble High Court and Lower Courts to get the bail order.
The first and foremost issue to be decided is as to whether the area of projected terrace (open to sky) is liable to be included within the meaning of expression built-up area contained in clause (c) of section 80IB(10) of the Act.
