A MoU was signed todya in Mumbai between IIFCL, LIC and IDFC in the presence of the Union Finance Minister Shri Pranab Mukherjee and the Chief Minister of Maharashtra Shri Prithviraj Chauhan today in Mumbai.
The Union Finance Minister Shri Pranab Mukherjee was speaking in Mumbai today while reviewing the flow of credit under various schemes and progress of the financial inclusion with the representatives of State Governments/UTs of Western Region and Chief Executive Officers(CEOs) of Public Sector Banks (PSBs) and Financial Institutions(FIs).The Finance Minister said that the credit flow to Agriculture Sector has been exceeding the annual target for the past many years.
DCIT Vs Rupen Das (ITAT Kolkata)- The assessee was engaged in providing security guards to various Government and non-Government organisations and regular payment to the employees was essential to provide better services.
DCIT Vs Rediff.com India Limited (ITAT Mumbai) – Certificate issued by a Chartered Accountant has no decisive impact on tax ability of income in the hands of a non-resident but it is only prima-facie evidence about the tax ability.
DCIT Vs Rediff.com India Limited (ITAT Mumbai)- A.O. disallowed the claim of bad debts on the ground that the transactions pertain to the current year and the same was written off by the assessee in the same year itself.
In this Article Author has discussed latest Provisions related to Compulsory E-Filing of service tax Return , Pr-requisite for e-filing, How to file Return electronically, Methods of filling the return electronically, Penalty for Late Filing of ST -3 (Service tax Return) , Due Date for Payment of Service tax Electronic and Procedure involved in making e-payment of service tax.
TDS IS NOT TEDIOUS – In this Article we will discuss the Reason , Types of Default, How to Correct and Advantage of Correction in Respect of TDS / TCS Default Us. 201(1) and Mismatch U/s. 200A of the Income Tax Act, 1961.
Diageo India Private Limited Vs. DCIT (ITAT Mumbai)- ITAT held that the contractor of bottling unit of the taxpayer and the overseas Diageo group entities are Associated Enterprises (AEs) and transaction entered between them are covered by the provisions of the Indian transfer pricing regulations.
DCIT v. ABAQUS Engineering Pvt Ltd (ITAT Chennai) – Recently, the Chennai Bench of Income-tax Appellate Tribunal in the case of ABAQUS Engineering Pvt Ltdheld that the payment made for supply of software is not ‘royalty’ since it is ‘copyrighted software’ and not copyright in the software. The Chennai Tribunal relied on the Mumbai Tribunal’s decision of TII Telecom International Pvt Ltd and Delhi Tribunal Special Bench decision of Motorola Inc, where it has been held that the supply of software does not amount to any transfer of copyright but only transfer of copyrighted article.
DGFT Trade Notice No. 20, Attention is invited to Public Notice Nos. 67/2009-2014 (RE 2010) and 68/2009-2014 (RE 2010) restoring the DEPB benefit on export of “Cotton yarn including Melange yarn” and “Cotton”. During the period from 21.4.2010 to 04.08.2011, DEPB was not available on export of “Cotton yarn including Melange yarn” and on export of “Cotton” from 21.04.2010 to 04.08.2011.
