Act of non-payment of service tax after its collection can’t beclaimed to be done under a bona fide belief In the recently concluded case of Indsur Global Ltd. Versus Additional Commissioner of service Tax, Vadodara (2015) (Gujarat) tribunal held that act of non-payment of service tax after its collection can’t be claimed to be done under a …
Here are the salient features of the Black Money Bill The Black Money (Undisclosed Foreign Income and Assets) And Imposition of Tax Bill, 2015, popularly known as Black Money Bill passed by both the Houses of Parliament, requires all Indians to declare undisclosed foreign assets and income. This bill will be effective from 01.04.2016. It is …
STATUTORY DATES FOR THE MONTH OF JULY’ 2015 05-07-2015 Service Tax – Service Tax Payment by Companies for June. – Service Tax Payment by Other than Companies for April to June. Central Excise – Payment of Excise Duty for all Assesses (other than SSI Units) for June.( if Excise Duty / Service Tax paid electronically …
Mandatory Compliance before Annual Filling As per Companies Act, 2013 following are the mandatory compliance: Preparation of MBP-1(Disclosure of interest of Director), DIR-8(Disqualification of director) as per Section-184 & 164 respectively of the Companies Act, 2013. Adoption of Memorandum & Articles as per Companies Act-2013. Recording of minutes as per Secretarial Standard-1(Board Meeting Minutes) & Secretarial Standard-2(General …
Proactive Actions & Expectations of Indian Company Goods and Service Tax (‘GST’) is an efficient, effective and modern mode of taxation which facilitates effective tax administration with minimum tax collection cost. The globe is having around 195 countries and out of that, around 140 countries are working on the GST model. Few developed countries like …
APPLICABILITY OF SECTION 44AD ON SPECULATIVE BUSINESS Section 44AD- In the case of an eligible assessee engaged in an eligible business, a sum equal to eight per cent of the total turnover or gross receipts of the assessee in the previous year on account of such business or, as the case may be, a sum …
After Delhi HC Gujarat HC also held that ITAT can extend stay beyond 365 days if delay isn’t due to assesse ITAT may extend stay of demand beyond 365 days if delay in disposing appeal not attributable to assessee By section 254(2A) of the Act, it cannot be inferred a legislative intent to curtail/withdraw powers …
Section 2(47), read with section 45 of the Income-tax Act, 1961 – Capital gains – Transfer -Year in which transfer took place Where in terms of development agreement, assessee handed over physical possession of property to builder allowing it to enjoy 60 per cent of land in lieu of 40 per cent of constructed area, …
Relaxation of additional fees and extension of last date of in filing of forms MGT-7 (Annual Return) and AOC-4 (Financial Statement) under the Companies Act, 2013 MCA has extended the last date of filing of forms MGT-7 (Annual Return) and AOC-4 (Financial Statement) upto 31/10/2015, as electronic versions of Forms AOC-4, AOC-4 XBRL and MGT-7 shall …
CBDT introduces Electronic Verification Code (EVC) system as an alternate mode of verification to manually signed ITR-V (acknowledgment) CBDT Notification No. 2/2015 Dated 13-July-2015 regarding EVC, a ten digit alpha-numeric code, to be provided using any of the 4 methods, namely – Internet banking AADHAR authentication Bank ATM card and Combination of registered email and …