In the present case, we are dealing with a situation in which payment has been made to a non-resident taxpayer but the said non-resident taxpayer has taken into account the receipts in question in his business income and has already filed his income tax return under section 139(1)
In exercise of the powers conferred by sub-section (1B) of section 35B of the Central Excise Act, 1944(1 of 1944), the Central Board of Excise and Customs constituted under the Central Board of Revenue Act,1963 (54 of 1963) constitutes the following Committees consisting of two Commissioners of Central Excise mentioned in column (2) of the Table below to be the Committee
I, Sanjeev Khirwar, Commissioner, Value Added Tax, do hereby extend the last date of filing of online/hard copy of second quarter return for the year 2014-15, in Form DVAT-16 ,DVAT-17 and DVAT-48 along with required annexures/enclosures to 10/11/2014.
In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992), as amended, read with Para 1.3 of the Foreign Trade Policy, 2009-2014, the Central Government hereby makes the following amendments in Chapter 5 of Schedule 2 (Export Policy) of ITC(HS) Classification of Export & Import Items.
Ministry of Corporate Affairs has amended Rules for Chapter 10 (Audit and Auditors) of the Companies Act, 2013 and Reporting on Internal Financial Control u/s 143 (3) (i) of the Companies Act, 2013 has been deferred for one year i.e., up to 31.03.2015. The auditor shall report on the existence of adequate internal financial control and its operational effectiveness for the financial years on or after 01.04.2015.The auditor may voluntarily report for the year from 01.04.2014 to 31.03.2015.
ICAI invites suggestions on Income-tax Returns (ITRs) and other forms notified under Income-tax Rules, 1962. – (21-10-2014) The Direct Taxes Committee of the ICAI is in the process of compiling suggestions on Income tax Return forms (ITRs) and other forms to be made applicable for Assessment year 2015-16. With regard to the same, suggestions are […]
The Online Correction functionality is now enabled for TDS Statements prior to FY 2012-13 also (Financial Year 2007-08 onwards), provided at least one correction for the relevant statement has been processed by CPC (TDS). Download Tutorial on above from the following link :- http://contents.tdscpc.gov.in/docs/e-Tutorial%20-%20Online%20Correction-%20Challlan%20Correction.pdf
Data provided by the Ministry of Corporate Affairs revealed that only few takers for One Person Company(OPC), which is introduced as a new business ownership concept by virtue of the Companies Act, 2013. The statistics on number of entities such as public companies, private companies, OPC and LLPs registered from 1st April, 2014 to 26th […]
A. Whether the agreement between developer and land owners is in the nature of joint venture? B. If it is not a joint venture then whether the transaction of giving 400 units of flats in return of a land (i.e. a non – monetary consideration) amounts to service and whether the same is liable for service tax?
Notification No . 54/2014-Income Tax In exercise of the powers conferred by sub-section (1) and (2) of section 120 of the Income Tax Act, 1961 (43 of 1961) and in supersession of notification of the Government of India, Central Board of Direct Taxes, number S.O. 888(E), dated the 17th September, 2001, published in the Gazette of India, Extraordinary, Part II, Section 3, sub-section (ii), except as respects things done or omitted to be done before such supersession, the Central Board of Direct Taxes hereby directs that the Income-tax authorities specified in column (2) of the Schedule below,
