We have stated the role of the State as a model employer with the fond hope that in future a deliberate disregard is not taken recourse to and deviancy of such magnitude is not adopted to frustrate the claims of the employees. It should always be borne in mind that legitimate aspirations of the employees are not guillotined and a situation is not created where hopes end in despair.
The profit margin from the international transaction with the A.E. has to be seen in relation to the uncontrolled transaction with the independent parties. What is to be compared is the international transactions of the assessee with its related parties and not for its entire transaction with non-related parties also. Therefore, ALP has to be seen only with regard to international transaction with A.Es and not on the entire turnover/sales.
For the purpose of Section 40(b)(v) read with Explanation there cannot be separate method of accounting for ascertaining net profit and/or book-profit. In other words, according to the said Explanation ‘book profit’ means the net profit as shown in the profit and loss account including income from other sources not the profit computed under the head profit and gains of business or profession.
Working given by the TPO shows that it is earning 7% commission, whereas as per the industry policy as decided by the AAAI the service on media agency earns commission of 2.5%. On that reason also, since it is an extreme case of earning 7% commission (in our view it is wrongly considered), on the principles that the extreme profit companies are to be excluded, this company cannot be considered as comparable for the purpose of arriving at the average mean.
Over 50 million PF subscribers can now access their accounts online as retirement fund body EPFO launched its e-Passbook service today. Active subscribers whose electronic challan-cum-return is already uploaded, can download their e-Passbook every month under the service launched by the EPFO’s Central Provident Fund Commissioner R C Mishra today.
Section 67 quantifies the charge of service tax provided in section 66, which is the charging section. Section 67 authorises the determination of the value of the taxable service for the purpose of charging service tax under section 66 as the gross amount charged
Article discusses Abatement/Valuation, Reverse Charge in Construction Activity along with different models applicable to Real estate Industry i.e. Tripartite Model, and Joint Development Model with case laws.
Renting has been defined w.e.f. 1.7.2012 in section 65B(41) as allowing, permitting or granting access, entry, occupation, usage or any such facility, wholly or partly, in an immovable property, with or without the transfer of possession or control of the said immovable property and includes letting, leasing, licensing or other similar arrangements in respect of immovable property’.
Considering the fact that the dispute between the partners in respect of the accounts of the said firm was referred to the arbitrator who was an independent person and the said arbitrator looking to the entire evidence has accepted the balance-sheet audited by the 1st Respondent as correct, we see no reason to interfere with the prima facie view of the Institute on the complaint filed by the Petitioner.
RULE 4: REGISTRATION – Three categories of person liable to get themselves registered under service tax namely:-a. Service Provider of taxable services under section 69(1) b. Person responsible for making payment of service tax as specified in Rule 2 (1) (d) read with section 68. They shall also seek registration under section 69(1) of Chapter V of Finance Act, 1994
