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Indian women continue to be viewed as supplementary bread earners in families

March 7, 2017 2145 Views 0 comment Print

A survey, conducted by Apollo Munich Health Insurance in collaboration with Nielsen India Pvt. Ltd. in 19 cities found that despite a rise in health insurance claims filed by women, few women are coming forward to buy health insurance.

Use of facility does not amount to technical services

March 7, 2017 2163 Views 0 comment Print

Freight income from operation of ships in international waters is not chargeable to tax under Indo-Danish DTAA; Use of facility does not amount to technical services, as technical services denote services catering to the special needs of the person using them and not a facility provided to all.

ITAT vacates stay on demand on flouting of terms of stay of demand

March 7, 2017 1017 Views 0 comment Print

This appeal, filed by the assessee, being ITA No. 971/Mum/2016 for assessment year 2011-12 has come up for hearing today i.e. 23-02.2017 whereby ld. Counsel Shri Hiten Chande,CA on behalf of the assessee and Mrs. Malathi Sridharan, CIT DR on behalf of the Revenue were present. The Assessing officer was also present during the course of hearing.

Sec. 68 Unexplained Credit can only be added to taxable income of AY in which it occurs

March 7, 2017 2592 Views 0 comment Print

In a recent ruling, the ITAT Jabalpur, decided the case in favour of the assesse, deleting the additions made by the Assessing Officer towards sundry creditors amounting to Rs. 5.07 lacs. The court held that under Section 68 of the Income-Tax Act, 1961

Flour, Meal & Powder of Guar seeds ineligible for MEIS benefit

March 7, 2017 858 Views 0 comment Print

DGFT hereby deletes MEIS benefit on flour, meal and powder of Guar Seeds of heading ITC(HS) 0713. Existing product description of the export item at Sl. No. 472 of Appendix 3B of MEIS schedule is amended as below with immediate effect:

No need to affix revenue stamp on PF claim forms in case of payments through NEFT

March 7, 2017 6024 Views 0 comment Print

At present, Re 1/- revenue stamp has to be affixed on claim forms by members for settlement of claims. The issue of continued practice of affixing of Re 1/- Revenue Stamp on claim forms has been examined in consultation with the Ministry of Law & It has been advised that while making payments through National Electronic Funds Transfer (NEFT), no revenue stamp would be required to be affixed on submission of claim forms by the members.

Anti Profiteering Measure under revised model GST law

March 6, 2017 3864 Views 1 comment Print

Anti Profiteering Measure (APM) is governed by section 163 of revised model GST law. As per section 163, every registered person is required to pass on the complete benefit accruing on account of additional input tax credit or reduced tax rate to the next level of supply chain.

Raise Grievance regarding communication received from CPC Bengaluru

March 6, 2017 1359 Views 0 comment Print

Recently, members are raising concerns regarding the problem faced by them in resolving the grievances in respect of Communication/ Order/ Notices received by the assessees from Centralised Processing Centre (CPC) Bengaluru.

Governor can suspend PSC Member only after reference of matter by President to SC

March 6, 2017 2637 Views 0 comment Print

The Constitution contemplates various scenarios in which a Governor can exercise his discretion dehors the aid and advice of the Council of Ministers, as for example, the powers under Article 174(2): dissolution of legislative assembly; Article 356: advising the President for proclamation of emergency; Article 167: calling for information from the Chief Minister etc, Article […]

CBDT chief instructs Pr. CITs to enhance revenue collection

March 6, 2017 1437 Views 0 comment Print

With a view to concentrate all efforts towards the objective of achieving the budget target, you are requested to personally review and monitor the position of collections through advance tax, TDS and recovery from arrear and current demand of your Region on a weekly basis. I have separately written D.O. letters on stepping up efforts for recovery from arrear demand, collection out of current demand and collection from TDS, which may be followed scrupulously by all officers engaged in the work of assessment and collection.

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