{"id":1993,"date":"2016-04-13T06:32:15","date_gmt":"2016-04-13T06:32:15","guid":{"rendered":"http:\/\/caindelhiindia.com\/blog\/?p=1993"},"modified":"2021-07-10T08:57:06","modified_gmt":"2021-07-10T08:57:06","slug":"corporate-and-professional-update-april-12-2016","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-april-12-2016\/","title":{"rendered":"CORPORATE AND PROFESSIONAL UPDATE APRIL 12, 2016"},"content":{"rendered":"<h3 style=\"text-align: justify;\"><span style=\"color: #000080;\">CORPORATE AND PROFESSIONAL UPDATE APRIL 12, 2016<\/span><\/h3>\n<figure id=\"attachment_2911\" aria-describedby=\"caption-attachment-2911\" style=\"width: 551px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/04\/4.png\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-2911\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/04\/4.png\" alt=\"www.caindelhiindia.com;  CORPORATE UPDATES\" width=\"551\" height=\"329\" \/><\/a><figcaption id=\"caption-attachment-2911\" class=\"wp-caption-text\">www.caindelhiindia.com; CORPORATE UPDATES<\/figcaption><\/figure>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>DIRECT TAX:<\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #00ccff;\"><strong>Income Tax:<\/strong><\/span>\u00a0Exemption u\/s 54 on unregistered property purchased from son of the assessee allowed &#8211; transferee gets the right over the property and has become the owner of the property therefore for the purpose of deduction U\/s 54 read with Section 2(47)(V) of the Act the property has been transferred to him \u2013\u00a0Rajesh Sharma Vs. ITO W- 2(4), Jaipur\u00a0(2016ITAT Jaipur)<\/li>\n<li><span style=\"color: #00ccff;\"><strong>Income Tax:<\/strong><\/span>\u00a0TDS u\/s 194C &#8211; No TDS on contractual payments of cutting and transporting of sugarcane from the fields to the factory gate as the payments were not given for carrying out the work of harvesting cutting and transporting on behalf of the assessee \u2013\u00a0Shree Chalthan Vibhag Khand Udyog Mandli Ltd<strong>. Vs. ITO, Surat (2015<\/strong>\u00a0ITAT Ahmedabad<strong>)<\/strong><\/li>\n<li><span style=\"color: #00ccff;\"><strong><a href=\"https:\/\/caindelhiindia.com\/service\/income-tax-return-filing\">Income Tax<\/a>:\u00a0<\/strong><\/span>Procedure for registration and submission of statement as per clause (k) of sub section (1) of section 285BA of Income-tax Act, 1961 read with Sub rule (7) of Rule 114G of Income-tax Rules, 1962 &#8211; Notification<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>INDIRECT TAX:<\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #00ccff;\"><strong>Service Tax:<\/strong><\/span>\u00a0Refund of Service Tax &#8211; Goods exported under claim of drawback &#8211; While fixing all industry rate of drawback the average duties and service tax paid in respect of inputs and input services are taken into account and the condition of Notification No. 41\/2007 &#8211; ST has to be strictly construed &#8211; Refund inadmissible -M\/s Sankalp International\u00a0<strong> CCE, Jaipur-1 (2016 <\/strong>\u00a0CESTAT New Delhi<strong>)<\/strong><\/li>\n<li><span style=\"color: #00ccff;\"><strong>EXCISE :<\/strong><\/span> As long as an assessee had manufactured goods, mere fact that he used trade or brand name of another individual, would not disentitle him from exemption &#8211;\u00a0[2016] (Andhra Pradesh)<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\">\u00a0<strong>KEY DATES :<\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li>Advance information for 2nd\u00a0fortnight of APR of functions with booking cost&gt; Rs. 1 Lakh in Banquet, Hotels, Hotels etc. for D VAT in Delhi:\u00a012\/04\/2016<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>\u201cStart everyday with new hope, leave bad memories behind and have faith for a better tomorrow.\u201d<\/strong><\/p>\n<p style=\"text-align: justify;\">We look forward for your valuable comments.\u00a0 <a href=\"https:\/\/www.caindelhiindia.com\">www.caindelhiindia.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CORPORATE AND PROFESSIONAL UPDATE APRIL 12, 2016 DIRECT TAX: Income Tax:\u00a0Exemption u\/s 54 on unregistered property purchased from son of the assessee allowed &#8211; transferee gets the right over the property and has become the owner of the property therefore for the purpose of deduction U\/s 54 read with Section 2(47)(V) of the Act the &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[144,142,146],"tags":[502,501,179,546,180,214,537,542,550,538],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/1993"}],"collection":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/comments?post=1993"}],"version-history":[{"count":4,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/1993\/revisions"}],"predecessor-version":[{"id":2913,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/1993\/revisions\/2913"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=1993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=1993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=1993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}