In a writ petition filed by small investors, Karnataka High Court Held that provisions of Section 206AA of the Income Tax Act are contrary to provisions of Section 139A of the Act. Accordingly, provision of Section 206AA were made inapplicable to persons and was read down from the Act only for those persons whose income was less than the taxable limits. However, the High Court made it very clear that the provisions of the Section 206AA are applicable to the persons whose income is more than the taxable limits.
Recently Service Tax (Determination of Valuation Rules), 2012 vide Notification No. 11/2012 –S.T dated 17.03.2012 amended the Service Tax (Determination of Value) Rules, 2006 which were supposed to come into force from the date on which the new Section 66B (the new charging Section) comes into effect i.e. 1st July 2012 but the said Rules got superseded before coming into force vide Notification no. 24/2012-ST dated 06.06.2012 (the Notification no. 24/2012-ST).
ABCAUS is an Excel template that works like any modern Billing, Accounting and Reporting Software. It has facility for and provides synchronised outputs for: 1. Bill Issue to Clients 2. Receipt Issue to Clients 3. Voucher Entries + Auto Bill and Receipt Vouchers
Herebelow we are sharing a complete chart showing the penalties under Punjab VAT Act, 2005 for the benefit of all readers. Offence Penalty (In addition to tax and interest) Section Failure to Register An Amount equal to Tax due 52, 21 Failure to Pay tax when due A Sum @ 2% per month on tax […]
The Speed Post is a new mode of sending post, and therefore, this new postal mode if is not mentioned in Statute specifically, even then because of above reason that service by Speed Post is included in generic word Post or Registered Post.
Assessee has challenged the addition of Rs.30,914/- made by the Assessing Officer on account of non-occupancy charges as income from the business not covered under the principles of mutuality. Learned AR submitted that the assessee’s case is covered by the decision of the ITAT Mumbai Bench passed in ITA No.6325/Mum/06 for the assessment year 2003-2004 vide order dated 14-5-2009 in the case of the assessee itself.
Section 6A of CST Act, 1956 provides that if a dealer claims that he is not liable to pay CST on an interstate movement of goods due to the reason that it is not sale and the goods have been transferred inter-state to any other place of his business or to his agent or principal, then he will have to produce a prescribed form i.e Form F to his assessing authority duly signed by the principal officer of his other place of business or his agent or principal as the case may be.
Section 560, of the Companies Act, 1956, deals with strike off provisions of a defunct company. Any defunct company desirous to strike off its name from the register of Registrar of company can apply in Form FTE for strike off its name from the register maintained by ROC as per Guidelines for ‘FAST TRACK EXIT MODE’ issued vide General Circular No. 36/2011 dated 7.6.2011. Similarly, ROC has also power to strike off any defunct company after satisfying himself of the need to strike off a defunct company and has reasonable cause. But before passing any order in this regard, an opportunity of being heard must be provided to the defunct company by following the due procedure u/s 560.
TDS on Salary Calculator for Central & State Govt employees for Financial Year 2012-13 / Assessment year 2013-14. Calculator Automatically Calculates your tax liability. It Generates From 16 and Form 10E with Annexure. Calculator also Calculate House Rent Exemption and have inbuilt HRA Calculator.
Assessee is engaged in the business of production and export of software from India to foreign countries and they are not in the business of providing technical services outside India, it is only producing and exporting software. The material on record clearly shows that except for these three years, rest of the certificates are correctly issued showing the amount involved in the production and export of the software at Clause 3(i). It is only in these three years certificates as against the Clause 3(i) nothing is typed and it is typed against Clause 3(ii). Hence, we are satisfied that there is a bona fide typographical error. The Chartered Accountant without carefully looking into those entries has issued the certificates, which has resulted in confusion.
