A Developer who opted for the said Composition Scheme was required to pay 1% composition amount in lieu of the tax, on the agreement (i.e. registered) value or the value determined for the purpose of payment of Stamp Duty, whichever is higher
We, the Marwaris of India, traditionally either traders or (chartered) accountants, are inherently of ‘adjustive’ nature. We adjust well with native people wherever we settle and we are also good in making book adjustments! It is another matter that due our book adjustment skills, demonetization was a cat among us Marwari pigeons! Now, the lion called ‘GST’ has entered our life and our day-to-day conversations.
The respondents are directed to ensure that all those who hold a Ration Card are issued the Rations as per the entitlement without insisting upon the holder of the Ration Card obtaining an Aadhar Card.
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.
