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TDS not deductible on loss on subscription to chit

September 8, 2017 2196 Views 0 comment Print

In this case AO has made addition merely on the basis of ledger extract filed by the assessee on the assumption that the said payments are interest payments which attracts TDS under the provisions of section 194A of the Act, without conducting further inquiries in the background of the assessee’s claim that the said payments […]

Income Tax Appellate Tribunal Surat Bench inaugurated on 01.09.2017

September 8, 2017 2682 Views 0 comment Print

Hon’ble Ravi Shankar Prasad, Union Minister of Law & Justice Hand Electronics & Information Technology, inaugurated Surat bench of the Income Tax Appellate Tribunal, on 1st September, 2017. Hon’ble Shri P.P.Chaudhary, Union Minister of State for Law & Justice and Electronics & Information Technology, was the Guest of Honor of the function. Hon’ble Members of Parliament Shri C. R. Paatil, Smt. Darshana Jarodsh, Dr. K. C. Patel, Shri Manuskhbhai D. Vasva, and Shri Nathubhai G. Patel were also present on the occasion.

Shop and establishment license not required for less then 10 employees

September 7, 2017 231108 Views 39 comments Print

In pursuance of clause (3) of article 348 of the Constitution of India, the following translation in English of the Maharashtra Shops and Establishments (Regulation of Employment and Conditions of Service) Act, 2017 (Mah. Act No. LXI of 2017), is hereby published under the authority of the Governor.

MGST: Maharashtra Govt constitutes State Level Screening Committee

September 7, 2017 1572 Views 0 comment Print

Government of Maharashtra hereby constitute the State Level Screening Committee consisting of following officers, namely : (a) Shri Omnarayan Bhangdiya–Additional Commissioner of State Tax, Maharashtra State. (b) Shri Suresh Krishnani–Commissioner GST, Mumbai, Government of India.

Clarifications on Guidelines on insurance e-commerce and electronic issuance of insurance policies

September 7, 2017 2361 Views 0 comment Print

The Authority as part of its developmental mandate and to reach out to the policyholders in a cost efficient manner has taken number of steps. This includes issuing revised guidelines on insurance repositories, insurance e-commerce, issuance of electronic insurance policies, maintenance of electronic records, etc.

Approval to Reopening by officer superior to Addl. DIT U/s. 151(2) is invalid

September 7, 2017 1377 Views 0 comment Print

This writ petition by Yum! Restaurants Asia PTE Ltd. under Articles 226 and 227 of the Constitution, seeks the quashing of a notice dated 28th March 2012 issued by the Deputy Director of Income Tax (hereinafter the Assessing Officer or AO) under Section 148 of the Income Tax Act, 1961 (hereinafter the Act) seeking to reopen the assessment for Assessment Year (AY) 2005-06.

Constitutional Validity of GST Compensation Cess- HC Admits Plea

September 7, 2017 3081 Views 0 comment Print

The challenge in this petition is to the constitutional validity of the Goods and Services Tax (Compensation to States) Act, 2017 (‘Act’). The context in which the challenge is laid is that the Petitioner is a trader of imported and Indian coal having its operation in various parts of the country. Prior to the impugned Act, under the Finance Act, 2010 (‘FA 2010’), with effect from 1st July 2010, a ‘Clean Energy Cess’ was levied under Chapter VII

Service details of Employees cannot be Furnished under RTI: SC

September 7, 2017 7797 Views 0 comment Print

Firstly, the information sought by respondent No.1 of individual employees working in the Bank was personal in nature; secondly, it was exempted from being disclosed under Section 8(j) of the Act and lastly, neither respondent No. 1 disclosed any public interest much less larger public interest involved in seeking such information of the individual employee […]

Utility to Upload details of large number of Statutory Forms under TRAN-1 Form

September 7, 2017 2649 Views 0 comment Print

Log in using your user 1D and password. Navigate to TRAN-1 ( Services -) Returns -> Transition Forms. 3) Navigate to tile 5(a), 5(b), 5(c)- Amount of tax credit carried forward. Table 5 will appear only if YES is selected for returns filed under earlier laws (Ex VAT)

No Absolute Exemption to CBI From RTI Act: Delhi HC

September 7, 2017 1611 Views 0 comment Print

The Delhi High Court has directed the CBI to consider the application of an RTI activist seeking information about corruption within the central investigating body and action taken into allegations made by Delhi Chief Minister Arvind Kejriwal of shady probe into the coalgate scam pursuant to a news report.

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