December 15 is an important day on the calendar of the Central Board of Direct Taxes (CBDT). It is the date on which the third installment of advance tax for corporates and the second installment for all other assesses (including individuals, HUF etc) is due.
The Minister of New and Renewable Energy, Dr. Farooq Abdullah Informed Rajya Sabha today that as per monthly generation report compiled by Central Electricity Authority, 83.483 MU of grid solar power was produced during August, 2012 and 539.205 MU during the period April, 2012 to August, 2012.
The Minister of New and Renewable Energy, Dr. Farooq Abdullah Informed Rajya Sabha today that the Government has announced a National Manufacturing Policy which recognizes the need to launch programmes to build national capabilities in sectors of strategic significance that include solar energy.
Clause 135 of the Companies Bill, 2011 inter alia, provides for the specified companies to spend at least 2% of the average net profits (of last 3 years) in pursuance of the company’s Corporate Social Responsibilities (CSR) policy and in case of failure, to specify the reasons for not spending such amount in the Board’s Report.
It is true that the assessee on the one hand gets the waiver of monies payable on purchase of machinery and claims such receipt as not taxable because it is capital receipt. On the other hand the assessee claims depreciation on the value of the machinery for which it did not incur any cost.
Learned counsel for the petitioner in these circumstances submitted that the reasons to believe recorded by the Assessing Officer on 26.03.2009 do not record or state that the agreement between the petitioner and Quest was not on record, and that there was failure on the part of the assessee to fully and truly disclose the material facts.
In the background of above legal position, we have to ascertain from the facts on record whether it is possible to ascertain the cost of acquisition of the tenancy rights. We may recall that the assessee and the landlord entered into an agreement under which, the landlord agreed to rent out four existing floors to the assessee, and for three more under construction floors of the building,
Shri Pilot said that the introduction of MCA 21 has yielded remarkable results. In terms of efficiency, the project achieved speedy delivery of services and regulation of corporate compliances through the use of modern information technology.
The appellant is a manufacturer of acrylic fibre, acrylic top etc. and were availing the facility of Cenvat credit of duty paid on inputs, capital goods and Service Tax paid on inputs services used in or in relation to manufacture of final products. The appellants are availing the services of foreign agents and were paying commission on said agents located outside India.
Retirement fund body EPFO has tightened the norms for initiation of its inquiries against employers and also set a time bar of seven years for such proceedings, a move which the trade unions have described as anti-worker. The circular, which was issued by Central Provident Fund Commissioner (CPFC) R C Mishra on his last day […]
