It is undisputed that the transaction involve two domestic companies, who are individual and independent subsidiaries of their own and independent holding companies. This is also not in dispute that neither of the holding companies could be called the AE of the other contracting party. This is also not in dispute that, there is any transaction, involving a non resident company.
We have heard the rival submissions and perused the material before us. In the preceding year, this forward contract profit was more than 6 crores. The nature of income was similar to preceding year in the year under consideration. Therefore, by following the order of the Co-ordinate Bench, we also held that the nature of receipt is business.
Understanding the Revised Income Tax Rule 12 for A.Y. 2013-14: Learn about the rules and regulations related to ITR filing.
We have uploaded below ITR 1- Sahaj, ITR 2, ITR 3, ITR-4, SUGAM (ITR-4S), ITR 5, applicable for Assessment year 2013-14 and Financial Year 2012-13. Popular key words – ITR Excel Format, ITR for A.Y. 2013-14, ITR for F.Y. 2012-13, ITR for Assessment year 2013-14, ITR for Financial year 2012-13, ITR for FY […]
In this article we are discussing which ITR should be filed online with Digital Signature Mandatorily and for which only ITR online Filing is although mandatory but filing with Digital Signature is not mandatory for A.Y 2013-14. A Return can normally be filed / furnished in following modes :- (i) furnishing the return in a […]
We have audited the accompanying financial statements of _________________ (the Company), which comprise the Balance Sheet as at 31st March , 2013, the Statement of Profit and Loss and the Cash Flow Statement for the year then ended, and a summary of the significant accounting policies and other explanatory information.
Prior to 01.04.2013, service tax was leviable on restaurants satisfying two conditions namely (i) the facility of air-conditioning or central heating in any part of the establishment, at any point of time during the year, and (ii) a license to serve alcoholic beverages. With effect from 01.04.2013, condition number (ii) stands deleted. Accordingly service tax […]
Mandatory e-filing of return if income exceeds Rs. 5,00,000 or assessee claims relief U/s. 90, 90A or 91 CBDT has vide notification No. 34/2013 dated 01.05.2013 has made it mandatory for the following category of the Assesses to file their Income Tax Return Online from A.Y. 2013-14 :- (a) It is mandatory for every person […]
CBDT has vide Notification No. NOTIFICATION NO. 34/2013, DATED 1-5-2013 provided that where an assessee is required to furnish a report of audit under sections 44AB, 92E or 115JB of the Act, he shall furnish the same electronically. Online filing of following audit reports shall be mandatory in following cases: (a) Tax Audit report under […]
Now shifting of registered office from one State to another State under the Companies Act, 1956, requires a petition to be filed with Regional Director, Ministry of Corporate Affairs with effect from 12-08-2012 and earlier the same was required to be made to Company Law Board. The procedure for making the petition under Section 17 […]
