Services provided to Foreign Principals for marketing their products in India qualify as an export of service
Posted Date : 16-Oct-2014 , 07:55:08 pm | Posted By
CA Bimal Jain
Dear Professional Colleague,
Services provided to Foreign Principals for marketing their products in India qualify as an export of service We are sharing with you an important judgment of the Hon’ble CESTAT, Delhi in the case of Microsoft Corporation (I) (P) Ltd. Vs. Commissioner of Service...
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Category : Service Tax |
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No penalty if there is mass unawareness about taxability of certain service
Posted Date : 15-Oct-2014 , 02:23:16 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, No penalty if there is mass unawareness about taxability of certain service We are sharing with you an important judgment of the Hon’ble Allahabad High Court in the case of H.M. Singh & Co. Vs. Commissioner of Central Excise, Customs & Service Tax [2014 (...
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Category : Service Tax |
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List of resolutions to be filled in MGT-14
Posted Date : 12-Oct-2014 , 08:45:35 pm | Posted By
CA. KUMAR ASHUTOSH
*Form MGT-14 requires filing for following below mention Resolutions:*<a href="http://www.shopfifa15.co.uk/">Shop FIFA 15</a>
1. Section- 8: For a company...
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Category : Corporate Law |
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Interest allowable on refund of pre-deposits
Posted Date : 10-Oct-2014 , 06:52:09 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Interest allowable on refund of pre-deposits We are sharing with you an important judgment of Hon’ble Delhi High Court in the case of Afcons Infrastructure Ltd. Vs. Union of India [(2014) 49 taxmann.com 79 (Delhi)] on the following issue: Issue: Whether communi...
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Category : Excise |
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No Penalty in the absence of mens rea
Posted Date : 06-Oct-2014 , 01:01:37 pm | Posted By
CA Bimal Jain
Dear professional college, No Penalty in the absence of mens rea We are sharing with you an important judgment of Hon’ble CESTAT, DELHI in the case of Mohan Poddar Vs. CCE, Raipur [2014 (9) TMI 782 - CESTAT NEW DELHI] on the following issue: Issue: Whether the penalty Under Section 78 of t...
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Category : Service Tax |
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REVISION OF TAX AUDIT REPORT
Posted Date : 05-Oct-2014 , 07:01:00 pm | Posted By
Manoj Lamba
REVISION OF TAX AUDIT REPORT The system of Tax Audit u/s 44AB has changed drastically in recent time. Particularly the change of manual filling to non filling and now from non filling to e filling has raised lot of questions and confusions in mind of Accountants. The Some of many concer...
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Category : Income Tax |
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Related Party Transaction under New Regime
Posted Date : 04-Oct-2014 , 02:53:27 pm | Posted By
Ankit Mangla
Related Party Transaction under New Regime Requirement of the Companies Act, 2013
A.Following are the Related parties as per section 2(76)
i. Director / Key Managerial Personnel and their Relatives
ii. Firm in which Director or Manager or relative is a partner
iii. Private limited com...
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Category : Corporate Law |
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Certificate under Rule 37BB of Income Tax Rules, 1962
Posted Date : 01-Oct-2014 , 03:15:46 pm | Posted By
CA Akshay Joshi
Requirement for certificate of an accountant under Rule 37BB, or certificate in form 15CB as it is popularly known, originates from Section 195 (6) of Income Tax Act, 1961 (“the Act”) which requires a person making payment to a non resident to furnish information relating to such payment...
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Category : Income Tax |
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Service Tax At a Glance
Posted Date : 25-Sep-2014 , 03:35:42 pm | Posted By
Pratik
Service Tax –Key Points
Introduction
Service tax is a tax levied by the government on service providers on certain service transactions, but is actually borne by the customers. It is categorized under Indirect Tax and came into existence under the Finance Act, 1994.
The service provid...
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Category : Service Tax |
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सफलता और सपने चाहिए या खोखले बहाने?
Posted Date : 24-Sep-2014 , 02:12:25 pm | Posted By
Vimmi
1- मुझे उचित शिक्षा लेने का अवसर नही मिला... उचित शिक्ष...
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Category : General |
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Income Tax implications on conversion of a Company into LLP
Posted Date : 24-Sep-2014 , 11:24:15 am | Posted By
CA Paras Dawar
Income Tax implications on conversion of a Company into LLP
The onset of Companies Act 2013 has ushered a paradigm shift in operation and management of companies. The benefits which, hitherto were available to Private Companies in the erstwhile Companies Act, have to a large extent receded. ...
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Category : Income Tax |
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Companies (Appointment & Qualification of Directors) Amendment Rules, 2014
Posted Date : 23-Sep-2014 , 10:22:48 pm | Posted By
Nimisha
The Ministry of Corporate Affairs has issued a notification w.r.t. Companies (Appointment & Qualification of Directors) Amendment Rules, 2014 dated 18th September, 2014. The effect of the amendment made in Companies (Appointment & Qualification of Directors) Rules, 2014 are as follows:
&nbs...
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Category : Corporate Law |
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Importance of FAR analysis in Transfer Pricing
Posted Date : 22-Sep-2014 , 01:07:34 pm | Posted By
Deepanshu Bansal
IMPORTANCE OF FUNCTIONS, ASSETS AND RISK (“FAR”) ANALYSIS IN TRANSFER PRICING
Introduction
Transfer pricing has become the most significant source of litigation in India and is increasingly becoming a regular discussion point in the board room of large Indian and ...
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Category : Income Tax |
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इनकम टैक्स विभाग ने पूरे चार्टर्ड अकाउंटेट्स की काबलियत पर सवाल उठाए?
Posted Date : 17-Sep-2014 , 08:09:19 am | Posted By
Vimmi
इनकम टैक्स विभाग ने पूरे चार्टर्ड अकाउंटेट्स की कì...
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Category : Income Tax |
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THE CHANGING FACE OF INDIAN BANKING
Posted Date : 15-Sep-2014 , 09:35:40 pm | Posted By
RATHI
THE CHANGING FACE OF INDIAN BANKING The Changing Decade :- Indian banking is passing through a phase of rapid transition which was initiated with the reforms of the financial sector that was initiated by the Central Government since 1991 when India faced its worst Balance of Payments Crisis in its...
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Category : Banking |
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Article on Right issue of shares under Companies Act-2013
Posted Date : 12-Sep-2014 , 08:48:23 pm | Posted By
Csdiveshgoyal
PROCESS TO RAISE CAPITAL FOR UNLISTED COMPANIES UNDER NEW COMPANIES ACT-2013, GOYAL DIVESH & ASSOCIATES
1. PROCEDURE FOR ALLOTMENT OF RIGHT ISSUE OF SHARES:
Call a Board meeting by issue notice of meeting. (Draft Format Attached)
Approve right issue including "letter ...
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Category : Corporate Law |
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No. Of Eligible Article Assistants Under Practicing C.A.
Posted Date : 12-Sep-2014 , 04:51:13 pm | Posted By
Vimmi
An associate or a fellow member, who has been in practice continuously, whether in India, or
elsewhere or an associate or a fellow who is employed as a paid assistant with a chartered accountant in practice or in a firm of such chartered accountants shall only be eligible to...
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Category : Students Zone |
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Sec 147 Reassessment without disposal of preliminary objections not sustainable
Posted Date : 12-Sep-2014 , 12:35:49 pm | Posted By
CA Paras Dawar
Reassessment order u/s 147without first disposing off the preliminary objections raised by the assessee can not be sustained and is thus liable to be quashed
Supreme Court in GKN Driveshafts (India) Ltd. vs. ITO & Ors. (2003) 259 ITR 19 had devised the proc...
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Category : Income Tax |
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Section 148: Reason for Issue of Notice can be claimed before Filing of Return
Posted Date : 06-Sep-2014 , 11:52:26 am | Posted By
CA Paras Dawar
Assessee Can Claim Reasons For Issue Of Notice U/S 148 Before Filing Of Return U/S 148.
Section 148 of the Income Tax Act, 1961 is possibly the most belligerent combat tank in the armory of Income Tax Department. This tank has been further strengthened by recent amendments by Finance A...
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Category : Income Tax |
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Simultaneous Claim of Interest on Housing loan & HRA; Deduction of Housing loan Interest against Capital Gain
Posted Date : 06-Sep-2014 , 11:51:25 am | Posted By
CA Paras Dawar
Assessee claim deduction of Interest on Housing Loan to acquire house property u/s 24(b) and simultaneously HRA exemption on rent paid (if he resides in property other than acquired). Further upon sale of said property, interest already claimed as deduction u/s 24(b) can be added to cost of property...
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Category : Income Tax |
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