“Advertising agency” means any person engaged in providing any service connected with the making, preparation, display or exhibition of advertisement and includes an advertising consultant. “advertisement” includes any notice, circular, label, wrapper, document, hoarding or any other audio or visual representation made by means of light, sound, smoke or gas;
Telecom Regulatory Authority of India, TRAI, has extended the 100 sms per day limit to 200 sms per day, per sim. Earlier, TRAI had restricted the number of commercial non-commercial sms that can be send from a sim, to 100. TRAI received representations from some of the service providers and consumers to increase the limit of 100 sms per day, per sim. TRAI has decided that the New cap of 200 sms per day, per sim will be effective from today onwards.
New Delhi: The Income Tax Department introduces a separate permanent account number (PAN)application form for non-residents in which NRIs, PIOs and entities having interest in India will have to provide additional information to the Central Board of Direct Taxes (CBDT). The new form–49AA— will help the department gather information on non-Indian entities and individuals, like […]
The Metal Rolling Works Ltd. V/s. CIT (Bombay High Court)- The development agreement did contain a clause to that effect and, therefore, since the last instalment was not received in AY 2002-03, the assessee was justified in not offering the capital gains to tax in AY 2002-03 in the original return of income filed on 31/10/2002. Although Rs.6 crores received initially was not offered to tax in the original return filed for AY 2002-03, it is not in dispute that in the original returns filed for AY 2002-03 the assessee did disclose receipt of Rs.6 crores as advance on account of development agreement entered into with a developer in respect of its land. Once the receipt of Rs.6 crores was disclosed in the original return of income as advance receipt under the development agreement entered into with the developer, the assessee cannot be said to have concealed income or furnished inaccurate particulars of income.
Circular No. – 48/2011-Customs As you are aware, the All Industry Rates (AIR) of Duty Drawback 2011-12 were notified vide Notification No. 68/2011-Cus. (N.T.) dated 22.09.2011. These rates have come into effect on 01.10.2011. Subsequently, the Ministry has received representations on the Drawback Schedule 2011-12 from Export Promotion Councils, Trade associations and individual segments of industry. The representations broadly relate to doubts on classification of items (mainly erstwhile DEPB items) in the Schedule, duty drawback rates, value caps and other miscellaneous matters.
The Supreme Court has said that alterations made in the will by a person do not have legal sanctity unless corrections are executed in the same manner as was done in the case of the original documents. A SC bench said those claiming benefits under an altered will must prove with convincing evidence that the testator did make such alterations to the original will in conformity with the rules governing the Indian Succession Act.
Download Updated Form No. 49A in Excel Format. The form is prepared after considering latest amendments in format of Form No. 49A latest and it is easily fallible. The form is been revised and re-uploaded to the website by us on 15.11.2011 after removing the shortcomings in earlier version. Downloads New Revised Auto PAN CARD […]
Notification No. 57/2011 – Income Tax Rules, 1962 were amended, vide notification No. S.O. 2429(E) dated 24th of October, 2011, for (i) extending the time limit of submission of TDS statements by the Government deductors in view of filing of Form No.24G by them; (ii) compulsory uploading of particulars of amount paid without deduction of tax in view of furnishing of declaration under section 197A; and (iii) enlarging the scope for grant of TDS credit to person other than the deductee.
The housing finance regulator said Housing Finance Companies will no longer levy any fee on floating rate loans. In case of fixed rate loans, it has made a distinction and only those borrowers who pay from their “own sources”, such as savings or even loans from relatives, will be exempted from payment of penalty. In […]
News from unconfirmed sources said that CBEC is to issue in day or two a notification extending the due date for filing of ST-3 return from 25.10.2011 to 26.12.2011 to enable assessees to comply with new system of online filing.
