CPC(TDS) has introduced a new feature on TRACES for generating Transaction Based Report (TBR) in respect of deductees reported in 27Q TDS Statements. The report provides with a summary of transactions in respect of NRI Deductees who have not reported their PANs (PAN Not Available)
Income Tax Department has releases utility for A.Y. 2014-15 for Filing of Tax Audit Report , Transfer pricing Audit Report, MAT Audit , Trust Audit, Special Audit etc. Details of such Audit reports is as follows :- Form 3CA-3CD – Audit report under section 44AB of the Income-tax Act, 1961 in a case where the […]
We are producing below the BJP’s announcement on tax from as made by them in their Election Manifesto for 2014 Lok Sabha Elections :- Taxation UPA Government has unleashed ‘Tax terrorism’ and ‘uncertainty’, which not only creates anxiety amongst the business class and negatively impacts the investment climate, but also dents the image of the […]
Clause (4) of Sec. 54 clearly mention that the amount of net consideration which is not appropriated by the assessee towards the construction of the new asset before the date of furnishing the return of income u/s. 139, shall be deposited by him before furnishing such return (such deposit being made in any case not later than the due date applicable in the case of the assessee for furnishing the return of income under sub section (1) of Sec. 139).
CA Praveen Mittal Provisions related to Loans and Investments under Companies Act, 2013 General Powers of board With respect to borrowing of Monies – the board of directors of the company are empowered to borrow monies by means of resolution passed at a meeting of the Board. Such power of the Board may also be […]
he exemption u/s 54 was not allowed as what was transferred is a residential unit with 8ft x 8 ft dimensions and holding that such structure cannot be treated as building. However, exemption u/s 54F was allowed to the extent of amount spent within six months from the date of transfer of the asset.
The regulator proposes to the person entering/ existed in the corporate world to COME WITH AN OPEN HEART. It is just like, while anybody moves to the Doctor/ Advocate for some treatment/ consultant, nothing should be undisclosed. The author is thinking the same keeping in the view the basis of the regulatory provisions been made under the Companies Act, 2013.
Dominant nature test” or overwhelming component test or the degrees of labour and service test are really not applicable. If the contract is a composite one which falls under the definition of Works contracts as engrafted under clause (29A)(b) of Article 366 of the Constitution, the incidental part as regards labour and service pales into total insignificance for the purpose of determining the nature of the contract.
Notification No. 26/2014-Income Tax CBDT has revised PAN Application form 49A and 49AA wef from 16.05.2014 vide its notification no. 26/2014 , Dated- 16-5-2014. Revised Form 49A and 49AA provides option to get printed Mothers Name on PAN card. So those applying for New PAN card or for revised PAN card have the option to get printed on their PAN card printed the name of his/her mother.
The Constitution bench of the Supreme Court in the case of M/S. Kone Elevator India Pvt. Ltd. vs. State of Tamil Nadu and Ors. (Writ Petition (C) No. 232 OF 2005) vide its order dated 6.5.2014 has overruled the decision of the three-Judge bench in the case of State of A.P. v. Kone Elevators (India) Ltd, reported at (2005) 3 SCC 389.
