In a significant ruling, the ITAT Delhi held that approval by the Commissioner of Income Tax is not a mandatory requirement to allow deduction of contribution towards EPF under section 38(1)(iv) of the Income Tax Act when the assessee has framed the scheme under the Employees provident Fund Act, 1952.
It is observed that a few Agency banks were submitting Annual Information Returns (AIR, now changed to SFT) in respect of Savings Bonds to Income Tax Authorities as well as to RBI.
GST is a Single tax rate for a product or service in any part of the country (except J&K). The following 17 different indirect taxes will be subsumed under GST
It has been observed that in case of consignments/ bills of entry of importers accorded DPD facility and which have not been facilitated by RMS and marked by system for ‘Assessment and Examination’, the Assessing Group orders for a certain percentage of those goods for examination.
Milestones are usually an occasion to look back and reflect on the past. They are often viewed as opportunities to take stock of the path taken and to evaluate the journey that had been. The third-year milestone of the Narendra Modi led NDA government however marks a different kind of milestone with the government looking to the road ahead with new confidence and renewed focus.
I realized the extent to which India is transforming only when I started getting out of the big cities and visited India’s small towns and villages. The experience was beyond anything I could have imagined and the learning was priceless! It redefined how I saw technology and innovation and made me realize the power of true grit and resilience.
In furtherance of SEBI’s endeavor to bring all the intermediary related processes (registration, reporting and other requests) to the online platform, it is hereby informed that an online system is introduced for Portfolio Managers.
India and Russia have recently completed 70 years of diplomatic relations. On April 13 2017, which marked the historic occasion, a grand launch function for year- long celebrations to salute this friendship was held in New Delhi. More than 100 events, which will span diverse areas of bilateral collaboration, will be held both in India and Russia during the year- long celebrations.
Nature of the transaction made by the Petitioner with its tenant clearly amounts to renting of an immovable property for the purpose of business or commerce and is, therefore, clearly covered by Section 65(90a) of the Finance Act, 1994 and service tax is clearly livable thereon
The change in the name of the Department of Disability Affairs to the Department of Empowerment of Persons with Disabilities soon after the NDA assumed power was to send the message that ‘empowerment’ would be the key to the policies and programmes for the disabled and that a separate department meant this sector would receive focused attention it deserved.
