Taxability of Chaotic Interest incomes from acquisition of Land
Posted Date : 27-Feb-2015 , 03:27:34 pm | Posted By
Hemant
TAXABILITY OF CHAOTIC INTEREST INCOMES FROM ACQUISITION OF LAND LAND Acquisition Bill a most heated topic during the budget session of the year 2015. Central Government is in a hurry to pass the land acquisition bill to make it a complete legislation. However, the Anna’s new movement ag...
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Category : Income Tax |
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Service received by petitioner assessee not chargeable to ST
Posted Date : 27-Feb-2015 , 03:24:16 pm | Posted By
Rahul Jindal
IN THE HIGH COURT OF BOMBAY
TCS E-SERVE LTD
Vs
UNION OF INDIA AND ORS
Dated: February 23, 2015
ST - Tribunal holding that services received by petitioner assessee cannot be held chargeable to ST - Refund claimed on the strength of this order was rejected by Revenue on the ground ...
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Category : Service Tax |
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Pre-deposit has to be waived off if Assessee
Posted Date : 25-Feb-2015 , 02:24:54 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Pre-deposit has to be waived off if Assessee’s case is a good/ strong prima facie case covered by a binding precedent We are sharing with you an important judgment of Hon’ble High Court, Allahabad, in the case of Shukla & Brothers Vs. Customs, Excise &...
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Category : Service Tax |
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Norms on eligibility, empanelment and selection of Statutory Central Auditors in Public Sector Banks
Posted Date : 24-Feb-2015 , 11:07:37 pm | Posted By
CA.Khurana Vivek
Norms on eligibility, empanelment and selection of Statutory Central Auditors in Public Sector Banks
(i) The auditing firm shall have a minimum 7 full time chartered accountants, of which at least 5 should be full time partners exclusively associated with the firm. The remaining 2 coul...
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Category : Auditing |
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Procedure for Appointment of Statutory Auditors in Public Sector Banks
Posted Date : 24-Feb-2015 , 11:00:03 pm | Posted By
CA.Khurana Vivek
PROCEDURE FOR APPOINTMENT OF STATUTORY AUDITORS IN PUBLIC SECTOR BANKS.
Statutory Central Auditors (SCAs)
1. The number of SCAs to be appointed in PSB will be as under:
i) Category “A” Banks (Large Banks viz. Bank of Baroda, Bank of India, Canara...
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Category : Auditing |
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MYTH ABOUT CA EXAM
Posted Date : 24-Feb-2015 , 03:11:17 pm | Posted By
Soniya
During Exam Time we study for long hours, the level of Stress affects the working of our brain , the fear of syllabus not complete keep us awake late night , these are most common situation during CA/CS/CWA or any professional Exam Time , I am listing from my experience some ...
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Category : Students Zone |
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Management and administration under Co. Act, 2013
Posted Date : 23-Feb-2015 , 05:30:29 pm | Posted By
Vivek Parakh
Provisions related to Management and Administration – Part 4 Minutes of proceedings of general meeting, meeting of board of directors and other meeting and resolution passed by postal ballot
A separate minute book shall be maintained for each type of meeting namely:
General meeting of m...
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Category : Corporate Law |
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Inputs used in manufacture of finished goods destroyed in fire
Posted Date : 23-Feb-2015 , 11:35:28 am | Posted By
Rahul Jindal
Rule 57A does not mandate that credit can be claimed only if there is emergence of final product or that manufacture of final product is complete - Credit admissible on inputs destroyed in fire: High Court FEB 17, 2015: This is a Revenue appeal against the order passed by the Tribunal. T...
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Category : Service Tax |
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Condonation of filing the delay
Posted Date : 23-Feb-2015 , 10:45:56 am | Posted By
Rahul Jindal
ST - Govt departments are working with depleted staff strength - Finance & Accounts Manager is crucial post and its vacancy vital element and factor - In such circumstances, by imposition of costs, discretion could have been exercised by Tribunal in favour of statutory entity: High Court
...
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Category : Service Tax |
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Input Credit mechanism under proposed GST regime-The milestone to achieve
Posted Date : 22-Feb-2015 , 09:32:23 am | Posted By
CA Vinod Kumar
Input Credit mechanism under proposed GST regime-The milestone to achieve
BACKGROUND:
Before I begin this article it is worthwhile to discuss the background behind this since as of today no professional as well dealer is sure about the consequences of proposed GST legislatio...
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Category : GST |
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Management and Administration under Co. Act 2013 - Part-3
Posted Date : 21-Feb-2015 , 04:28:54 pm | Posted By
Vivek Parakh
Provisions related to Management and Administration – Part 3
Voting through electronic means
Listed Co. or Company having 1000 or more shareholders shall provide the facility to vote at general meetings by electronic means.
Procedure to be followed:
Notices of meetings shall be ...
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Category : Corporate Law |
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Interest on delayed refund is permissible from expiry of 3 months
Posted Date : 21-Feb-2015 , 12:33:47 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Interest on delayed refund is permissible from expiry of 3 months’ from the date of filing of Refund application and not from the date of Refund Order We are sharing with you an important judgment of Hon’ble CESTAT, Ahmedabad, in the case of Tata Chemicals ...
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Category : Excise |
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Income Tax Refund may get delayed this year
Posted Date : 19-Feb-2015 , 08:07:24 am | Posted By
May I Help You.
Your wait for the income tax refund cheque could get longer. The government, racing against time to meet its budgeted revenue targets, may decide to defer dispatching the tax refund amounts until next year.
This money retained in the state's coffers will only help show a less weak governmen...
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Category : Income Tax |
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Sum paid as a pure agent of service recipient is not includible in value of services
Posted Date : 17-Feb-2015 , 01:53:55 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Sum paid as a pure agent of service recipient is not includible in value of services We are sharing with you an important judgment of Hon’ble High Court, Chhattisgarh, in the case of Union of India Vs. Raj Wines [(2015) 53 taxmann.com 445 (Chhattisgarh)] on the f...
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Category : Service Tax |
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Management and Administration under Co. Act 2013 - Part-2
Posted Date : 13-Feb-2015 , 08:05:03 pm | Posted By
Vivek Parakh
Provisions related to Management and Administration – Part 2
Provisions: (Section 100 to 107, read with Companies (Management and Administration) Rules, 2014
Calling of Extra Ordinary General Meeting (EGM)
EGM may be called in 2 ways: a) By Board and b) On Requisition.
Board ma...
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Category : Corporate Law |
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Posted Date : 13-Feb-2015 , 02:16:31 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, SC upholds levy of Sales tax on processing and supplying of photographs - reiterates power to levy tax retrospectively We are sharing with you an important judgment of the Hon’ble Supreme Court, in the case of State of Karnataka Etc Vs. Pro LAB and Ors [2015-TIOL...
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Category : VAT |
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Cenvat credit availed on the invoices received prior to Service tax registration cannot be denied
Posted Date : 11-Feb-2015 , 04:57:42 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Cenvat credit availed on the invoices received prior to Service tax registration cannot be denied We are sharing with you an important judgment of Hon’ble CESTAT, New Delhi, in the case of JP. Kenny Ltd. Vs. CCE. & CST. - Delhi [2015 (1) TMI 1199 - CESTA...
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Category : Service Tax |
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NO Interest is chargeable u/s 234A on self Assessment tax
Posted Date : 11-Feb-2015 , 04:30:48 pm | Posted By
Soniya
Interest under Section 234A of the Income-tax Act, 1961 is charged in case of default in furnishing return of income by an assessee.
Calculation of Interest
Amount of tax payable on the total income &nbs...
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Category : Income Tax |
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Declared value of imported goods cannot be enhanced merely on the basis of NIDB data
Posted Date : 09-Feb-2015 , 01:02:01 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Declared value of imported goods cannot be enhanced merely on the basis of NIDB data We are sharing with you an important judgment of Hon’ble CESTAT, Chennai, in the case of Topsia Estates Pvt. Ltd. Vs. Commissioner of Customs, Chennai [(2015) 53 taxmann.com 345 ...
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Category : Custom |
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Change Object Clause
Posted Date : 09-Feb-2015 , 12:36:13 pm | Posted By
Dhroov Rajput
Change in Object Clause
Memorandum of Association contain details of object of company and other details of company. MOA & AOA are made when a company incorporate, this MOA & AOA Contain details of company such as object’s, directors or company registered...
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Category : Corporate Law |
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