The Entire Corporate India Woke Up To The Morning Of 19th December 2012 With A Fresh Breeze, New Hopes And Exciting Challenges. With Just Two Days Left For The Much Hyped Armageddon Of 21st December 2012 When The World Was Supposed To End As Per A Famous Prediction, The Lok Sabha Passed The Much Awaited Companies Bill, 2012 Which Marks The Dawn Of A New Era,
India Infrastructure Finance Company Limited Issue Period: 26 Dec 2012 to 11 Jan 2013 Key Benefits: Credit Ratings: AAA by CARE, AAA (Stable) by ICRA and BRICKWORK Interest on these Bonds is Tax-Free, no TDS is applicable, Wealth Tax is not levied No lock in period and no upper limit on investment amount Issue Size: […]
We have heard rival submissions and have gone through the entire material available on record. Learned DR contends that ITAT in respect of above years while upholding the deletion of penalty u/s 271-D, has not considered the aspect of each transactions while ascertaining reasonable cause. In our view it is not so in as much as ITAT has consciously considered this aspect at more than one places and has held that AO though agreed that assessee has reasonable cause in mobilizing these deposits in rural and semi-urban areas, was not justified in levying penalty by holding that transactions based reasonable cause has not been spelt out.
Government exempts the following two Schemes under services of life insurance business from Service tax by adding the same in mega Exemption Notification No. 25/2012-Service Tax :- (a) Janashree Bima Yojana (JBY); or (b) Aam Aadmi Bima Yojana (AABY)
(1) These rules may be called the Companies (Central Government’s) General Rules and Forms (Seventh Amendment) Rules. 2012. (2) They shall come into force with effect from 25.12.2012.2. In the Companies (Central Government’s) General Rules and Forms, 1956, in Annexure ‘A’ for Form 18, the following Form shall he substituted namely:-
(1) These rules may be called the Companies Directors Identification Number (Third Amendment) Rules, 2012. (2) They shall some into force with effect from 25.12.2012.2. In the Companies (Directors Identification Number) Rules, 2006, In Form DIN – 4, the certification column after serial no. 17, the following 2nd para of the certification in Form DIN-4 shall be substituted, namely:-
(1) These rules may be called the Companies Directors Identification Number (Third Amendment) Rules, 2012. (2) They shall come into force with effect from 25.12.2012 2. In the Companies (Directors Identification Number) Rules, 2006, in Annexure ‘A’ for Form DIN-1, the following Form of DIN-1 shall be substituted, namely:-
Exporters desirous of exporting sugar may continue to obtain Registration Certificates accordingly. The conditions and modalities as mentioned in Policy Circular No. 62(RE-2010)/2009-14 dated 14.05.2012 and as modified by Policy Circular No. 63(RE-2010)/2009-14 dated 16.05.2012 will continue to apply.
The Special Judge for CBI case, Mumbai has convicted Sh. Rajiv Kumar the then Assistant Commissioner, Income Tax Circle 27 (1) Piramal Chambers Lal Baugh, Mumbai in a bribery case and sentenced him to undergo five years rigorous imprisonment with fine of Rs. 30,000/-.
Industry body Ficci has demanded that the highest income tax rate of 30 per cent should be levied on income above Rs 20 lakh as against Rs 10 lakh currently from next fiscal to encourage consumption. This needs to be re-visited as the tax rate of 30.9 per cent (inclusive of education cess) on income of Rs 10 lakh and above casts a sizeable burden on the middle class,
