CS. Bilu Balakrishnan We have attached below a PPS / PPT – Company Secretaries in Companies Bill 2011 which is based on Companies Bill, 2011 passed in Lok Sabha on 18.12.2012. The Company Secretary (CS in short) profession has lot more in the new Bill. This presentation intents to have a birds eye view of […]
Commissioner, VAT, Department of Trade and Taxes, Delhi has issued a circular CIRCULAR No 25 OF 2012-13 dated 14-12-2012 clarifying the taxability of set top boxes under Delhi VAT Act, 2004. It has been mentioned that set top boxes are being supplied by cable operators on lease basis against refundable securities.
The Bill has 470 clauses as against 658 Sections in the existing Companies Act, 1956. The entire bill has been divided into 29 chapters. Many new chapters have been introduced, viz., Registered Valuers (ch.17); Government companies (ch. 23); Companies to furnish information or statistics (ch. 25); Nidhis (ch. 26); National Company Law Tribunal & Appellate Tribunal (ch. 27); Special Courts (ch. 28).
Normally where a transaction is undertaken by a person who is a businessman, the question as to whether investment in shares is an income from the line of business could be taken as adventure in the nature of trade and it should not pose a problem, since such transactions would be either incidental or ancillary to the business, although the transactions undertaken may not have a direct bearing to the business already undertaken by the assessee.
Service providers and professionals are aware that Service Tax is payable @ 12.36 percent on the value to taxable services which implies gross amount charged by the service provider for such service provided or agreed to be provided. However, where the consideration is not in money form, wholly or partly, value means money consideration plus money equivalent of consideration in kind. Also, consideration includes any amount that is payable for the taxable services provided.
The assessee, a chamber of commerce and industry, in the course of pursuing its objects rendered several services, such as, certification, committee room services, secretarial services and facilities, energy audit, etc. to its members and non-members for a fee. It was registered under section 12A. From the assessment year 1996-97 up to the assessment year 2005-06, it was granted exemption under section 11.
Lok Sabha today passed the Companies Bill , with the government saying the aim is to protect interest of employees and small investors while encouraging firms to undertake social welfare voluntarily instead of imposing that through inspector raj. Replying to a debate before the bill was passed by a voice vote, Corporate Affairs Minister Sachin Pilot said through this new legislation, the government intends to make India an attractive and safe investment destination.
Circular No. 7(1)2012/RCs Review Meeting/345 dated 30th November, 2012 on Guidelines for Quasi-judicial proceedings under Section 7A of the Employees’ Provident Funds & Miscellaneous Provisions Act, 1952.
In exercise of the powers conferred by sub-section (1) of section 80CCG of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the Rajiv Gandhi Equity Savings Scheme (RGESS). The purposes of the government behind such scheme are to provide tax benefits to investors investing directly and to lure investors in to stock market and broaden investor base in stocks.
The new charging section, section 66B, enables taxation of only such services as are provided in taxable territory. Thus services that are provided in a non-taxable territory are not chargeable to service tax.
