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How to apply PAN through SPICe Form No. INC-32

March 9, 2017 4605 Views 0 comment Print

Procedure of PAN application through Simplified Profoma for Incorporating Company Electronically (SPICe) (Form No. INC-32) of Ministry of Corporate Affairs.

Notional rent on security deposit cannot be considered to calculate annual value

March 9, 2017 2679 Views 0 comment Print

Assessing Officer to delete the 12% interest charged by him, on the interest free deposit received by the assessee, to determine the ALV of the rented property ignoring the well settled judicial principle that what is important is the real nature of transactions in the relied on case supra and not the facts?

Extension of Due date to activate account on GST Portal for Maharashtra VAT Dealers

March 8, 2017 2844 Views 0 comment Print

Many communications have been received from the trade for the extension of dates, as some of them have faced difficulties while obtaining Provisional Ids or activating their accounts on GST Portal. So, as per the communication received from GSTN, and as per request from the Trade, the date for disabling Provisional Ids is now extended upto 15-03-2017.

Amendment in Service Tax Exemption to Educational Institutions WEF 01.04.2017

March 8, 2017 38757 Views 0 comment Print

Provided that nothing contained in clause (b) of this entry shall apply to an educational institution other than an institution providing services by way of pre-school education and education up to higher secondary school or equivalent

Exclusion of comparables based on Turnover and size filter is valid

March 8, 2017 2319 Views 0 comment Print

Bombay High Court decision upheld the DRP order in excluding 6 companies, from the list of comparables chosen by the TPO, on the basis of turnover and size. Following it , we uphold the DRP order in excluding the above 6 companies, from the list of comparables chosen by the TPO, on the basis of turnover and size.

DVAT 3rd quarter of 2016-17 Online Return Filing due date extended to 17/03/2017

March 8, 2017 1479 Views 0 comment Print

Delhi Value Added Tax Rules, 2005, I, H. Rajesh Prasad, Commissioner, Value Added Tax, do hereby extend the last date of filing of online/hard copy of third quarter return for the year 2016-17, in Form DVAT-16 ,DVAT-17 and DVAT-48 along with required annexure/enclosures to 17.03.2017.

Approach on un-reconciled, unsettled outstanding reinsurance balances as on 31.03.2014

March 8, 2017 1134 Views 0 comment Print

If the reinsurance/ composite broker has un-reconciled outstanding unsettled clients money lying with them, they shall transfer the same in a separate bank account under intimation to the Authority with full details of the bank account.

Ram Jethmalani cross examined Arun Jaitley in court: Part 1

March 8, 2017 53238 Views 10 comments Print

I put it to you that ‘goodwill’ is enjoyed even by a crook, who has done some good thing to somebody. What do you have to say? You have used the word ‘goodwill’ in the letter addressed to Deputy Registrar filed along with the plaint. Are you aware about the difference between goodwill and reputation?

ICAI Invites EOI from CA Firms for Indian Railway Accounting Project

March 8, 2017 4860 Views 0 comment Print

ICAI ARF hereby invites proposals from eligible Chartered Accountant Firms having preferably their Head Office at following places to be associated for handling its upcoming project of Indian Railways for conversion of its books of accounts from hybrid to accrual accounting:

Delhi VAT: De-sealing of Business Premises during Survey

March 8, 2017 1278 Views 0 comment Print

If the Dealer concerned whose business premise has been sealed does not turn up for de-sealing of the same within a reasonable time, then he should be intimated through a notice, at his last known address, regarding De-sealing process to be undertaken.

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