Infrastructure companies in Securities Markets, namely, stock exchanges, commodity exchanges, corporations, Regulations depositories and clearing in compliance with SEBI
Consequent upon the approval of ACC and in continuation of order No.15 of 2015 dated 30.01.2015 and order No. 55 of 2015 dated 27.04.2015 the following officers are, hereby, promoted to the grade of Principal Commissioner of Income Tax (HAG scale of pay
Assessment under section 153A can be made on the basis of incriminating material which in the context of relevant provisions means books of account and other documents found in the course of search but not produced in the course of original assessment and undisclosed income or property disclosed during the course of search.
Central Government is satisfied that in the period from 01.07.2012 to 31.03.2015 1 according to a practice that was generally prevalent, there was non levy of service tax, on the services by the operators of Common Effluent Treatment Plant by way of treatment of effluent and this service was liable to service tax , in the said period , which was not being paid according to the said practice .
A registered taxable person can opt for the composition scheme only if his aggregate turnover in the preceding financial year did not exceed Fifty Lakh Rupees (i.e. upto Fifty Lakh)
Branch and depo transfers will be treated as taxable supplies accordingly IGST will be chargeable on such transfers made from one state to other. It will result in increase in working capital requirements as though the tax paid by receiving unit/depo is allowed as input tax credit but there will be a time gap between the time of payment of tax and utilization of its credit on subsequent sale.
In Aishwarya Rai Bachchan vs. ACIT, the assessee had not deducted tax at source, AO treated the assessee as an assessee in default under section 201(1) and passed an order demanding tax of Rs. 4,27,910 and interest under section 201(1A) of Rs. 34,233.
Foreign assignments involving mobility of international workers has always been entangled in the complexities of two legislations. To ease out the hindrances and protect the interest of cross border workers of India and Japan, India has signed social security agreement (SSA) with Japan w.e.f. Oct 1, 2016.
The Internal Revenue Service today announced the conclusion of its annual Dirty Dozen list of tax scams. The annual list highlights various schemes that taxpayers may encounter throughout the year, many of which peak during tax-filing season.
The conclusion of the ld. CIT(A) that the assessee has purchased material from some other dealers but quantitative reconciliation of the stock was duly done by the assessee of the sale and purchase and hence the profit element in this accommodation entries are to be added to the income cannot be faulted .
