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BSE to Develop India’s First CSR Index

September 23, 2013 1008 Views 0 comment Print

Indian Institution of Corporate Affairs (IICA) and BSE Ltd. today signed an MoU in Mumbai to work collaboratively to develop a Corporate Social Responsibility (CSR) index, take up capacity building on CSR,

US Rules in Favour of India in Countervailing Duty Investigation on Frozen Shrimp exports from India

September 23, 2013 600 Views 0 comment Print

The United States International Trade Commission (USITC) determined that the US industry is neither materially injured nor threatened with material injury by reason of imports of frozen warm water shrimp from India, China, Ecuador, Malaysia, and Vietnam. USITC voted 4-2 against imposition of countervailing duty (CVD) against India and other six countries. As a result […]

Search based on 3rd Party Information but not based on reasons U/s. 132(1) is invalid

September 23, 2013 1373 Views 0 comment Print

Section 132 contemplates existence of certain eventualities in the event of existence where of the competent authority should have reason to believe the existence of the circumstances mentioned in clause (a) to (c) of sub-section (1) of Section 132 of the Act

Accept School leaving certificate as age proof : SC

September 23, 2013 12311 Views 0 comment Print

We are of the view that no cogent reasons have been stated by the High court to discard the school leaving certificate which was issued on 10.04.2004 by the then Principal of the school. The certificate reveals the date of birth of the accused as 10.05.1991.

CBDT may not extend the due date for filing ITR

September 22, 2013 20810 Views 0 comment Print

Inspite of strong representation from us as well as various Associations and ICAI, on the basis of the talk and discussion prima facie it appears that date of filing the Return of Income of 30th September, 2013 will not be extended.

Haryana VAT on Joint Development Agreements – Implications

September 22, 2013 7725 Views 0 comment Print

With the issuance of couple of circulars in May’13 and June’13 by the Haryana VAT Department recently, clarifying certain aspects on VAT on builders’ projects, this branch of indirect tax has been activated on these builders’ projects.

Occupancy Right In Flat Is Equal To Ownership: SC

September 22, 2013 8926 Views 0 comment Print

Most of the flat owners purchase the flat by availing of loan from various banking institutions by mortgaging their rights over the purchased flat. By purchasing the flat, the purchaser, over and above his species of right over the flat,

Frequent changes in 3CD e-return schema

September 22, 2013 4029 Views 0 comment Print

CBDT is constantly making changes in the 3CD e-return schema such as addition of new elements, changes in description, frequent changes in depreciation table, etc. Sometimes changes are done in the 3CD e-return software of the IT Dept. without changing the schema.

Cost Audit as per Companies Act, 2013

September 22, 2013 37215 Views 5 comments Print

This article contains the description of some provisions related to cost audit as per companies Act, 2013. When cost audit is required:-Central government may direct to conduct cost audit in respect of companies engaged in the production of such goods or providing such services and have a net worth or turnover as may be prescribed.

DVAT – Effective Tax Rate Tax on Certain Works Contract Activities Reduced

September 22, 2013 9597 Views 0 comment Print

For the purpose of computation of taxable turnover in works contracts: Where amount of labour, services and other like charges is not ascertainable from the books of accounts of the dealer (being works contractor) or where he fails to produce documentary evidence in support of such charges, the amount of such charges shall be calculated on the basis of percentages specified in the Table given in Rule 3(2) of the Delhi VAT Rules.

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