Even a cursory look at the admitted facts of the case would show that the transferee had neither performed nor was it willing to perform its obligation under the agreement in the previous year relevant to assessment year under consideration.
Finance Minister has clarified that Rice is not an agricultural produce, Central Warehousing Corporation (CWC) has clarified to its offices that now Service Tax is payable. The CWC is so careful that it has clarified that even in cases of construction of warehouses for storage of Agricultural produce where it is not known as to […]
Tarun Gulati Earlier, India was isolated from the world markets and it went global only in 1991 with the change in policies for Foreign Trade, foreign direct investments, etc. This move towards globalization brought in new requirement for changes in the taxation and other laws as the MNC’s started investing in India and acquisition of […]
MVAT : Instructions for uploading Annual Revised Returns U/s 20(4)(b) and 20(4)(c) • Please download the latest version (Ver 1.8.0) template from Mahavat website. • Dealer can upload the Revised return u/s 20(4)(b) & (c) with Annual periodicity only. • Dealer can upload the Original, Fresh and Revised return u/s 20(4)(a) as per the periodicity […]
in view of the fresh launch of interest rate futures and difficulties expressed by the industry, it has been decided to extend the period for obtaining certification by such approved users and sales personnel for a period of two years from the date of this notification.
Circular No. 2/2014-Income Tax The Central Board of Direct Taxes had issued Circular No. 447 (hereinafter called “the Circular”) on 22nd January, 1986 clarifying that awards received by a sportsman, who is not a professional, will not be liable to tax in his hands as the award will be in the nature of a gift and/or personal testimonial. 2. The said Circular was applicable in a tax regime when gift was not taxable in the hands of the recipient and with the fundamental change
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments
The Special Judge for CBI cases, Thiruvananthapuram(Kerala) has convicted Sh. R. Kennadi, then Executive Engineer and Sh. P.V. Suresh Kumar, then Assistant Engineer(both of CPWD) working in the Valuation Department of Income Tax, Trivandrum and sentenced them to undergo three years Rigorous Imprisonment with fine of Rs. 50,000/- each in a bribery case.
The Council of the Institute of Company Secretaries of India (ICSI) at its meeting held on 19th January 2014, requested CS S. N. Ananthasubramanian, President and CS Harish K. Vaid, Vice President to continue to hold office in terms of section 12 (4) of the Company Secretaries Act, 1980 until such time as a new President and a new Vice President are elected and take charge of their duties.
In this computer era, all records of business enterprises are maintained in computers and voluntary compliance of return filing U/s 139 of Income-Tax Act are also sought in digital format. Return preparation utilities are provided by the Deptt. so that there may not be any instance of wrong claims or deduction, unless there is bug in the utility provided.
