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Disallowance u/s. 40(a)(ia) are outside the jurisdiction of section 154

November 30, 2018 2058 Views 0 comment Print

Sri Sachin Sharma Vs ACIT (ITAT Ranchi) A perusal of provisions of section 194C of the Act shows that a person is liable to deduct TDS when a contract for work is of an amount more than Rs.30,000/- or where payment for work is made to a person more than Rs.75,000/- during the financial year. […]

TDS U/s. 194J not deductible on fees for Translation of Articles

November 30, 2018 18606 Views 0 comment Print

Shri Goutam Mukhopadhyay Vs PCIT (ITAT Kolkata) It is not in dispute that the assessee has made payment of Rs. 96,000/- to Mahua Basu Mallick for displaying articles towards Cancel Awareness Programme in Bengali language pursuant to dictations given by the assessee in English. In effect, this is nothing but a payment made for translation […]

Application Fee for Issue of Preferential / self certified Certificate of Origin

November 30, 2018 2073 Views 1 comment Print

Fee for issuance of (i) Preferential Certificate of Origin and (ii) Post Verification of self certified COO under EU-GSP under verification fee under otheo FTAs is laid down.

DGFT amends Import policy of gold-dore

November 30, 2018 1320 Views 0 comment Print

Central Government hereby amends import policy of gold-dore under HS code 7108 12 00 under ITC (HS), 2017 Schedule — I (Import Policy).

Advance rent & security deposit cannot be treated as deemed dividend

November 30, 2018 11805 Views 0 comment Print

Shri Jinendra Kumar Jain Vs ACIT (ITAT Delhi) It is, therefore, clear from the evidence on record that assessee in fact, has let-out the joint property to the tenant company and has received advance as well as security deposit of the aforesaid amounts. The authorities below rejected the claim of assessee because the amount of […]

Do’s and Don’ts while dealing with Investment Advisers

November 29, 2018 957 Views 0 comment Print

Always deal with SEBI registered Investment Advisers. Ensure that the Investment Adviser has a valid registration certificate. Pay only advisory fees to your Investment Adviser. Make payments of advisory fees through banking channels only and maintain duly signed receipts mentioning the details of your payments.

Interest Equalisation rate increased to 5% in respect of exports by MSME

November 29, 2018 3312 Views 0 comment Print

It has been decided by the Government of India to increase w.e.f. November 02, 2018 Interest Equalisation rate from 3% to 5% in respect of exports by the Micro, Small & Medium Enterprises (MSME) sector manufacturers under the Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit.

SEBI guidelines to operationalse Interoperability among Clearing Corporations

November 27, 2018 1725 Views 0 comment Print

(1) The interoperability framework shall be applicable to all the recognised clearing corporations excluding those operating in International Financial Services Centre. (2) All the products available for trading on the stock exchanges (except commodity derivatives) shall be made available under the interoperability framework.

Protocol amending India-China DTAA

November 26, 2018 990 Views 0 comment Print

The Government of the Republic of India and the Government of the People’s Republic of China have amended the Double Taxation Avoidance Agreement (DTAA) for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income, by signing a Protocol on 26/11/2018.

Mandatory Fund raising by way of Debt Securities from 01.04.2019

November 26, 2018 14754 Views 0 comment Print

Union Budget 2018, which, inter-alia, stated SEBI will also consider mandating, beginning with large entities, to meet about one-fourth of their financing needs from debt market,

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