Falsely Padding Deductions on Returns: Taxpayers should avoid the temptation to falsely inflate deductions or expenses on their returns to pay less than what they owe or potentially receive larger refunds. Think twice before overstating deductions such as charitable contributions and business expenses or improperly claiming credits such as the Earned Income Tax Credit or Child Tax Credit.
NEBULA Watch, which is predominantly a jewellery, is made of gold, precious metals and /or precious stones /diamonds and is made of 18 Karat gold. Under the circumstances, the same can be said to be an Article or Jewellery falling within Entry No.13(ii) of Schedule II of the Act.
By consent of the learned advocates appearing for the parties, all these writ petitions are taken up for hearing together, as similar questions of law are involved in these writ petitions, in order to avoid a conflicting judicial opinion. We are also informed that facts are, almost, identical.
It upheld the view of the Tribunal that the imposition of penalty was not justified as admission of appeal in quantum proceeding on this issue as substantial question of law was proof enough of the issue being debatable.
These four appeals by the revenue, under Section 260-A of the Income Tax Act, (“the Act”) are directed against four separate orders of the Income Tax Appellate Tribunal (Delhi Bench) (“ITAT”) for AY 2005-06 and 2006- 07. The following common question of law was framed for decision by this court
Excessive Claims for Business Credits: Avoid improperly claiming the fuel tax credit, a tax benefit generally not available to most taxpayers. The credit is usually limited to off-highway business use, including use in farming. Taxpayers should also avoid misuse of the research credit.
Demonetisation announced on November 8, 2016 was aimed at addressing corruption, black money, counterfeit currency and terror financing. Although demonetisation holds huge potential benefits in the medium to long-term, given the scale of operation, it was expected to cause transient disruption in economic activity.
Q. 1 How the subscriber sheet should be signed in case of foreign subscribers. Ans: In case of the foreign subscriber, the subscriber sheet needs to be physically signed and witnessed there. Also ensure to follow the process of Notarisation & Apostille for all documents as required under the Act. The complete MOA and AOA along with the subscriber sheet should be attached with the form.
If in this cavalier fashion the Commercial Tax Department functions and withdraws huge sums of money without valid service, it would be difficult for big business houses to carry on their business. Such business houses would be forced to shift their business outside the State of Uttar Pradesh.
We are pleased to share with you that to give a boost to the Intellectual Property Regime in India, Government of India, Ministry of Commerce & Industry, and Department of Industrial Policy & Promotion notified the Trade Marks Rules, 2017. Trade Marks Rules, 2017, replaced the erstwhile Trade Marks Rules 2002.
