As the members are aware, e-filing of Tax Audit Reports has been made mandatory from the AY 2013-14 onwards vide Notification No. 34/2013 dated 01-05-2013. In order to e-file Tax Audit Report a Chartered Accountant requires to register himself in the e-filing portal as a Tax professional.
The dispute relates to a point as to whether TDS is to be deducted on the amount payable on account of service tax or not? The Tribunal has considered the agreement and recorded a finding that as per the term of contract, the amount of service tax was to be paid separately, therefore, the same was not subject to TDS.
Recently in the finance Act 2013, TDS @ 1% was introduced u/s 194-IA which got effective from 1.6.2013. It is not clear from the said provision whether this provision is applicable to the property under development / construction or not as till the date construction is complete, even the respective unit/flat is not identifiable unit and till some point of time even it is not in existence.
The Discussion paper has identified certain building blocks for the reorientation of the banking structure with a view to addressing various issues such as enhancing competition, financing higher growth, providing specialised services and furthering financial inclusion.
The said guidelines shall be in addition to the provisions, if any, contained in respective regulations/ circulars issued by the Board from time to time regarding dealing with conflict of interest, in respect of such entities.
This Note deals with the intimations issued by the Centralized Processing Centre (CPC), under section 143(1) of the Income-Tax Act, 1961 (the Act), in respect of returns of income electronically filed. It has been observed that many of the intimations under section 143(1) of the Act, contain a number of errors which cause un-called for harassment and inconvenience to the assessees.
The 8th of August, 2013 would be remembered as a historic day in the history of Corporate India. For, on this very day the Rajya Sabha passed the much-awaited, the much-needed, a modern and contemporary company law. It would become the law of the land on receiving the assent of the Honourable President of India […]
FAQ FOR ST3 RETURN FOR THE PERIOD OCT, 2012 – MAR, 2013 I. GENERAL The ST-3 Return for the period, Oct, 2012- Mar, 2013 is a quarterly or half-yearly? It is a half yearly return. Is there any change in the Format of ST3 return for the return period Oct, 2012 -March, 2013 when compared […]
In exercise of powers conferred by clause (a) of sub-section (15) of Section 144C of the Income-tax Act, 1961 (43 of 1961) r/w Income-tax (Dispute Resolution Panel) Rules. 2009, as amended by Notification No. 33/2012 (F.No. 133/13/2012-SO(TPL)/SO 1967 (E), dated 24-08-2012, and in partial modification to Order No.l/FT&TR/2013 dated 13.08.2013, the Central Board of Direct Taxes hereby constitutes the Dispute Resolution Panel at the areas of Jurisdiction given under column (2) of the Table below comprising of three Commissioners of Income-tax as Members of the Panel
The Court was of the view that the facts contained in the application were not correct and the counsel appearing for the applicant was not able to clarify the same. The Court passed over the matter and asked the counsel appearing therein to call the AOR who would be able to explain the factual controversy.
