The Service Tax Voluntary Compliance Encouragement Scheme 2013 was introduced in the Budget 2013-14. The Scheme has since been notified w.e.f. 10th May, 2013. The specifics of the Scheme are contained in Chapter VI of the Finance Act, 1994. A detailed Notification No. 10/2013-ST date 13.05.2013 has been issued inter alia prescribing:
The Central Board of Direct Taxes (CBDT) is Spreading e-tax net through Notification dated 34/2013 dated 01.05.2013. E-filing of I-T returns is now mandatory for individuals, including salaried taxpayers, earning more than Rs 5 lakh taxable income during the financial year ended March 31, 2013. Earlier the same was mandatory for the Individuals having salaried […]
The SEBI circular No. CIR/CFD/DIL/7/2012 dated August 13, 2012 had inter-alia amended the clause 31(a) of the Listing Agreement by advising the listed companies to submit the following forms, as may be applicable, along with copies of annual reports submitted to Stock exchanges: Form A: Unqualified/Matter of Emphasis Report Form B: Qualified/Subject to/Except for Audit […]
The special Judge for CBI Cases, Bangalore has convicted Sri A. Vanangamudi, then Superintendent of Service Tax, Service Tax Commissionerate, Bangalore to undergo two years Simple Imprisonment with fine Rs.20,000/- in a bribery case. The investigation revealed that Sri A. Vanangamudi, Superintendent of Service Tax was caught red handed while demanding & accepting a bribe […]
UIDAI launches Aadhaar based Iris Authentication, eKYC, One Time PIN New Services and Permanent Enrolment Centres Developing on its vision of ‘Empowering residents of India with a unique identity and a digital platform to authenticate anytime, anywhere’, the Unique Identification Authority of India (UIDAI) today unveiled three new Aadhaar-Enabled Services and announced the establishment of first […]
I am directed to say that the post of Indirect Tax Ombudsman at Ahmedabad in the HAG + pay scale of Rs.75500-80,000/-, is likely to be filled up from amongst the officers of the Indian Customs & Central Excise Service.
We have carefully considered the submissions and perused the records. We find that the value of the property in this case as reflected in the registered sale deed was Rs. 55,00,000/-. Reference u/s. 142A was made to the DVO by the Assessing Officer.
In this case Assessing Officer noted that from the perusal of the balance sheet and Annexures it was noted that the assessee has taken loans from banks, amounting to RS. 8,32,93,610/- in the form of secured loan and also from other parties, amounting to Rs. 56,20,479/-
the stand of the assessee has been that a sum of Rs. 12,00,000/- was given to the assessee company, consequent upon the Resolution passed by the Board of Directors of the said Company authorizing the assessee to invest on behalf of the company in units of M/s Reliance Equity Advantage Funds.
In the present case, admittedly, assessee made a claim but the same was rejected and disallowed not for the reason that the claim was not genuine or was fabricated but in view of provisions of law that assessee did not deduct TDS thereon.
