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ICSI elects New President and Vice President for 2014

February 7, 2014 1400 Views 0 comment Print

New President and Vice President of the Institute of Company Secretaries of India (ICSI) for 2014 CS R. Sridharan, a Fellow Member of the Institute has been elected uncontested as PRESIDENT of the Institute of Company Secretaries of India (ICSI) w.e.f 7th February, 2014. CS Vikas Y. Khare also a Fellow Member of the Institute […]

Option to Opt Made LTU “Optional”

February 7, 2014 3223 Views 0 comment Print

Any person, engaged in the manufacture or production of goods, or a provider of taxable service, who has paid during the financial year 2004-05 or during the financial year preceding the year of filing of application for registration under LTU,

Online process of EPFO (employees provident fund organisation) at a glance

February 7, 2014 22612 Views 6 comments Print

EPFO has taken a revolutionary step in year 2012 by launching its EMPLOYER E- SEVA portal which benefited the employer by way in reducing the hassles of submitting the paper return to EPFO office. The EPFO announced an online withdrawal and transfer provision for employee’s provident fund (EPF) from 1 July 2013, with the aim to settle claims faster.

Regulation of pay on imposition of a penalty under CCS (CCA) Rules, 196

February 6, 2014 12133 Views 8 comments Print

Consequent upon implementation of the recommendations of 6 th CPC under the CCS (RP) Rules, 2008 pay scale of a post/grade for below HAG level means the Pay Band and Grade Pay specified for that post. Under the CCS (RP) Rules, 2008 a Pay Band may cover Government servants in more than one Grade Pay or posts in the hierarchy. As per Rule 9 of the CCS (Revised Pay) Rules, 2008

Invitation of suggestions forby the sales tax department in view of revamping of automation system of Sales Tax Department

February 6, 2014 751 Views 0 comment Print

The existent automation system of the sales tax department encompasses various functional modules of automation like Registration, Returns, Recovery, Refunds and Assessment etc. Each of the Modules has been developed on the concept of automation of physical processes underlying each of the functionalities. The Department has also established its own web site for an interface with the tax payers and has provided various e services to them.

SEBI : Individual scrip wise price bands on non-F&O eligible scrip’s in Index Derivatives

February 6, 2014 433 Views 0 comment Print

Vide circular no. SMDRPD/Policy/Cir-37/2001 dated June 28, 2001, stock exchanges had been advised to implement appropriate individual scrip wise price bands in either direction.

No disallowance U/s. 40(a)(i) on payment to non residents where "deduction neutrality non-discrimination" violated

February 6, 2014 1715 Views 0 comment Print

The issue is covered against the revenue by the Special Bench decision in Rajeev Sureshbahi Gajwani’s case (supra) and this decision binds this division bench. The theory of differentiation vs discrimination was relevant, relevant if it was, only for the India US tax treaty

Disallowance U/s. 14A is to Be Made For Computing Book Profits U/s. 115JB

February 6, 2014 3160 Views 0 comment Print

These appeals by the Revenue relates to Assessment Year 2001-02. The respondent-assessee, as noticed above, namely, Federal-Mogul Goetze (India) Limited, had filed return of income on 31st October, 2001 declaring „nil‟income after setting for brought forward losses and depreciation.

Tribunal cannot be a silent spectator to illegal coercive recovery of taxes in Defiance Of Law – HC

February 6, 2014 1984 Views 0 comment Print

Contention of the Assessee :- The action of the petitioner revenue in not only attaching the petitioner’s bank account but also withdrawing the amount of Rs.159.84 crores on 18 November 2013 when the stay application was already fixed for hearing before the Tribunal on 22 November 2013

Additions for undisclosed investment could without doubting the genuineness of documents produced not justified

February 6, 2014 1770 Views 0 comment Print

Assessee in his return submission dated 6.11.2009 had explained that the purchase of 2 JCB machines were made from Yantraman Automac Pvt.Ltd., Baroda and both these purchases were on hypothecation with Centurion Bank of Punjab.

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