Initial Notice U/s 143(2) shall Contain Questionnare

Instruction No. 19/2015

Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes

North Block, New Delhi, dated the 29th of December, 2015

To

All Pr. Chief-Commissioners of Income-tax/Chief-Commissioners  of Income-tax All Pr. Directors-General  of Income-tax/Directors-General  of Income-tax

Subject- Issuing Questionnaire in cases selected for scrutiny- regarding

Sir/Madam

Instances have come to the notice of the Board that in cases selected under scrutiny, while issuing the first notice,

CVC WARNS FOR FAKE CA CERTIFICATES IN BANKS

The Central Vigilance Commission (CVC) has asked public sector banks to put in place a system to check the rising instances of fake Chartered Accountant certificates being submitted by borrowers to get loans.

So Please be alert and develop a Mechanism to safeguards from this type of Frauds.
Source of Information The Hindu Business,

For Details please click:

RAJASTHAN VAT 10A DATE FOR F.Y.14-15 EXTENDED

For notification please click on :

CBDT Clarifies Important Issues On Scope Of Scrutiny In CASS Assessments

The CBDT has issued Instruction No. 20/2015 dated 29.12.2015 in which it has issued clarifications on several issues in order to facilitate the conduct of scrutiny assessments in cases selected through Computer Aided Scrutiny Selection (‘CASS’). The CBDT has also stated that as far as the returns

ST - Jetty is used within port for loading and unloading of goods from vessel - Port cannot function without jetty -CENVAT credit on inputs and capital goods used in construction of jetty is eligible for output service, namely Port service: CESTAT

AHMEDABAD: THE Appellants are providing services in relation to Port.

They availed CENVAT Credit on inputs, capital goods and input services used in various output services.

How deductor can Submit Self-Declaration for Lower Deposit of TDS

Centralized Processing Cell (TDS) has started sending notices to those deductors who have  paid 40 to 60% lesser TDS during the period from April 1 to October 15, 2015 as compared to the corresponding period in Financial Year 2014-15.

If as a deductor you have reasonable causes for less Deduction and less Payment of tax with respect

This video will prove what it means to be in a Range Rover

G-RO a Carry-on Luggage Every Business Man Must Have

Can you imagine a Carry-on Luggage that features strong handle, buld-in tablet stand, impact-resistant polymer panels, 23000 mAh battery charging station with two USB ports, location tracker, proximity detector, multiple compartments for personal items and space for laptop and tablets and handy looking unique wheels?

Yes, the G-RO Carry-on Luggage comes with all the above features and made with super strong ballistic. Without any doubt, G-RO is the luggage that every business man should have who travel

Read more »

For computing time limit for filing of appeal the day on which the order is served on assessee must be excluded

Rotomac global (P) Ltd vs. CCE, Kanpur [2015] taxmann.com 181 (Allahabad High Court)

For computing time limit for filing of appeal the day on which the order is served on assessee must be excluded.

FACTS:

The Application for refund was rejected by the adjudicating authority and the order in that regard was served on 26^th June 2013, The appellant filed an appeal on 26^th June 2013.The

HC orders chief commissioners, Service tax should file comprehensive affidavit indicating the number of files pending and the time required to dispose those cases.

M/S S2 InfoTech Pvt. Ltd v/s The Union of India & ORS [2015-TIOL -1888-HC-MUM-ST]

Sitting on files for months together is not conducive to the interest of nation’s economy. The chief commissioners, Service tax should file comprehensive affidavit indicating the number of files pending and the time required to dispose those cases.

FACTS:

The commissioner passed an order after almost 22 months of the date of personal hearing

Analysis of Companies (Audit and Auditors) Amendment Rules 2015

In Companies (Audit and Auditors) Amendment Rules 2014

Section 143(12) of Companies Act, 2013 states

If an Auditor of the Company, in the course of the performance of his duties as auditor, has reason to believe that an offence involving fraud is being or has been committed against the company by

VAT Audit limit has been raised to Rs. 10 Crore & submission of Income Tax Audit report becomes mandatory in WBVAT

By amending sub-section (1A) of section 30E the monetary limit of filing audit report in Form 88 has been raised from Rs. 5 Crore to Rs. 10 Crore with effect from the financial year commencing on 01.04.2015. However, under the amended provisions the amount of stock transfer shall also be taken

The final pictures in respect of Central Council elections & Regional

ELECTION TO "CENTRAL COUNCIL" 2015- WIRC

Position	NAME OF CANDIDATE	Votes	Rank
1	22. ZAWARE SHIWAJI BHIKAJI - (PUNE)	3230	Elected Rank-I
2	21. VIKAMSEY NILESH SHIVJI - (MUMBAI)	3230	Elected Rank-II
3	19. SHAH DHINAL ASHVINBHAI - (AHMEDABAD)	3230	Elected Rank-IV
4	8. HEGDE NANDKISHORE CHIDAMBER - (MUMBAI)	3230	Elected Rank-III
5	5. CHHAJED PRAFULLA PREMSUKH - (MUMBAI)

PROCEDURES AND COMPLIANCES UNDER PROPOSED GST LAW IN INDIA

Introduction
After decades of positive deliberation, India has finally accepted the idea of a common indirect tax regime- Goods and Services Tax (GST). Battered with multiplicity of Indirect taxes in the current regime, India Inc has more than welcomed the GST as it brings within its ambit the flavor of ‘ease of doing business’ in India, seamless credit flow and a vision of common market across India. The draft

Manufacturer V/s Buyer’s Premise-place of removal --- Settling to unsettle and settle again?

Article
Till recently based upon two relevant Judgements from the Honorable Supreme Court i.e in the case of M/s Escorts JCB Ltd. V.CCE 2002 (10) TMI 96 - SUPREME COURT OF INDIA and CCE V. M/s Roofit Industries 2015 (4) TMI 857 - SUPREME COURT, the concept of ‘ place of removal’ was

Bolt - iPhone Charger Bracelet

I always used to forget to take my iPhone charger with me when I travel outside. What if we have something portable which attached to our body? Yes we have the BOLT, a wearable stylish bracelet made for iPhone, iPad & iPod, crafted of genuine leather designed to sync & charge your devices in style! 

Read more »

Consequences for Non Payment or Late Payment of TDS

In Recent past we noticed that department has taken late payment of TDS very seriously and in addition to imposing Interest and Penalty for Late Payment, they also start initiating Criminal Prosecution against those responsible for Deduction and Payment of TDS. Recently and MD of a

Ola launches helicopter service with Ola Air at just Rs.499 per hour

Click here to know more

CBSE books to be made available online for free

http://www.ibnlive.com/news/tech/cbse-books-to-be-made-available-online-for-free-1179159.html

Google's free WiFi at railway stations will give high speed for only 1 hour: 9 things you should know about the RailWire project

http://www.ibnlive.com/news/tech/googles-free-wifi-at-railway-stations-will-give-high-speed-for-only-1-hour-9-things-you-should-know-about-the-railwire-project-1178592.html

Circular/Guide to TDS on Salary for Assessment Year 2016-17

INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 2015-16 UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961. Reference is invited to Circular No.17/2014 dated 10.12.2014 whereby the rates of deduction of income-tax from the payment of income under the head “Salaries” under Section 192 of

Taxability of shares alloted under ESOP

ESOP is an option given to the employees of the company to purchase the company’s shares at a discounted price than the present market price. This option is generally given to high-ranking employees of the company.

Recipient of Services located outside India - Money received in convertible foreign exchange - fact that advice resulted in investment in India not relevant.

Commissioner of Service Tax, Mumbai-I v/s N.V. Advisory Pvt. Ltd. [2015 (39) STR 210 -Mumbai)  

Recipient of Services located outside India - Money received in convertible foreign exchange - fact that advice resulted in investment in India not relevant.

FACTS:

The Respondent is providing services in the nature, of advice on investment opportunities

Vacancy for CS trainee

CS Trainee Ahmedabad - Satelite TWO
we are Looking	CS Trainee ​ / Paid Assistance ​
Qualification	​Executive or ​ Professional

CAG Report on wrong Availment of Service Tax Exemptions

Availment of Exemptions

Under section 93 of Finance Act, 1994, the Government is empowered to exempt generally or subject to such conditions as may be specified in the notification, taxable service of any specified description from the whole or any part of the service tax leviable thereon.

During the course of this performance audit we observed 14 cases of incorrect availing of exemptions

Extended period cannot be invoked for the period prior to the issue of clarificatory circular by CBEC

Greaves    Ltd   vs. Commissioner   of  Central    Excise   and   Customs, Aurangabad. 2015 (322) ELT 772 (s.c.) 

Extended period cannot be invoked for the period prior to the issue of clarificatory  circular by CBEC.

FACTS:

CBEC, vide its circular dated 30/10/1996 clarified the manner valuation of captively

11 Measures taken by CBDT recently to simplify Tax Compliance

CBDT takes various significant decisions in last three months for providing better taxpayer services, improving ease of doing business and reducing the burden of compliance on the tax payer .

The Central Board of Direct Taxes (CBDT) has taken a number of decisions over last three months with the objective of providing better taxpayer services, improving ease of doing business and

Waiver of penalty u/s. 80 may not be available on the sole ground of financial hardship, for delayed payment of taxes. Penalty is imposable even in cases where tax is paid before issuance of show cause notice

Bootleggers  Island   vs. CESTAT,  Chennai.2015 (39) STR  569 (Mad.) 

Waiver of penalty   u/s. 80 may not be available on   the   sole   ground     of   financial     hardship, for    delayed    payment     of   taxes.    Penalty    is imposable    even   in cases  

Railways and ICAI to introduce online system for tracking costs

NEW DELHI: With a chartered accountant, Suresh Prabhu, at the helm, the railways is introducing an online system for tracking cost and output creation at divisional level for better financial management and reporting that will usher in more transparency and efficiency in the system.

To be called Performance and Activity Based Unit Costing, the process is expected to produce an

IPO irregularities: Sebi to refund disgorged funds to investors

NEW DELHI: Capital markets regulator Sebi will distribute among eligible investors the funds it has collected through disgorgement orders in cases of IPO irregularities - a move that will benefit as many as 4.63 lakh investors.

The total amount to be distributed is Rs 18.06 crore, which includes Rs 7.35 crore recovered by Sebi

CBDT takes Initiatives for reducing Tax Litigation as a part of its initiatives to reduce grievances of the taxpayers

The Central Board of Direct Taxes (CBDT) has issued a Circular revising the monetary limits for filing of appeals by the Department with the objective of reducing litigation as a part of its initiatives to reduce grievances of the taxpayers.

The monetary limits for filing of appeals by the Department before the Income Tax Appellate

5 Key takeaways from amended FCRA Rules

The Govt. has notified amended Foreign Contribution (Regulation) Rules, 2015 whereby access to all FCRA services has been made easier. Now everything would be done online thereby reducing human

CBDT revised Monetary Limits For Filing Appeals By tax authorities and direct to withdraw old appeals also: – the question is whether subordinates of CBDT will follow instructions? It is doubtful considering past experience.

CBDT revised Monetary Limits For Filing Appeals By tax authorities and direct to withdraw old appeals also: – the question is whether subordinates of CBDT will follow instructions? It is doubtful considering past experience.

Earlier article:

The last article on this issue by the same author was “Revenue should withdraw appeals in cases of tax effect below present prescribed limits for filing of appeals” was webhosted on September 22,

2017 C & AG Empanelment Ranking Points Policy & Conditions

The comptroller and auditor general of India office have recently invited applications from the Chartered accountants Firms/ LLP   for the year 2015-16. The online application format shall be available from 1st January 2016 to 15th February 2016; the firms/LLPs can apply/update the data

New procedure for Form 15CA/CB wef 01.04.16.

att0

---

Fun learning app for kids for holidays

https://play.google.com/store/apps/details?id=com.vocabira

CIRCULAR RELATED TO POWERS OF CHIEF COMMISSIONER TO AUTHORIZE OFFICERS TO APPEAR BEFORE CESTAT BENCH.

F. No.390/Misc./69/2015-JC
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
(Judicial Cell)

New Delhi Dated 15th December ,2015

Instruction

Sub: Authorizing officers of the Zone to appear before CESTAT Bench

A reference has been received in the Board to empower the Principal Chief Commissioners of Customs, Central Excise & Service Tax /Chief Commissioners of Customs, Central Excise & Service

PAN mandatory in hotel bill payments, foreign travel tickets

The government on Wednesday announced mandatory quoting of income tax permanent account number (PAN) for payment of hotel bills and buying of foreign travel tickets costing Rs.50,000 and above.

 

PAN would also be mandatory for cash payments of more than Rs.50,000 for cash cards or prepaid

Vacancy for CA in JP Morgan Chase

Job Description 

CIB - Transaction Processing Mgr – Associate – Mumbai-150126273

Job Description

JPMorgan Corporate & Investment Banking (CIB) Securities Processing, a division of JPMorgan Chase Bank, N.A., is a global industry leader with $15.2 trillion in assets under

This is how ED thinks SRK used unaccounted exchange rate fluctuation to acquire Dubai property

Khan seems to be sitting on significant gains on account of exchange rate gains as the pound has strengthened from Rs 60 to Rs 100 during the period. The Enforcement Directorate suspects that Khan used this structure for some real estate transactions in Dubai in 2008, the surpluses of which were not accounted for

Shah Rukh Khan turned 50 on November 2. On a television show to mark the occasion, where he took questions from some of his 16 million Twitter followers, Khan minced no words.

"It is stupid… it is stupid to be intolerant and this is our biggest issue, not just an issue… religious intolerance and not being secular in this country is the worst kind of crime that you can do as a

Automation of Central Excise and Service Tax (ACES)

ACES stands for Automation of Central Excise and Service Tax. ACES is a centralized, web-based and workflow-based software application. This application was initially rolled-out in the Large Tax Payer Unit

FRAUD BY CONSULTANT

FRAUD BY CONSULTANT

The compliance of tax provisions either in direct tax or indirect taxes is difficult for any individual or a business entity at all times following the changes occurred now and then. For this purpose the professionals or consultants in the particular area are appointed for the purpose of compliance of the

Despite “Anti-Corruption Pledge”, Income-Tax Dept Remains Den Of Corruption. After Two CCsIT, JCIT Held For Corruption

The Central Bureau of Investigation (CBI) has made the grim announcement that a high-ranking Joint Commissioner of Income-tax in Mumbai has been arrested for demanding and accepting a bribe of

T : Penalty under section 271AAA could not be levied merely on admission of assessee during search proceedings and there must be some conclusive evidence before Assessing Officer that entry made in seized documents represented undisclosed income of assessee

IT : Penalty under section 271AAA could not be levied merely on admission of assessee during search proceedings and there must be some conclusive

Negation of effect of change in the method of depreciation on the profit and loss is not allowed

Query

A company (company A) is engaged in the retail trading. The company was following Straight Line Method (SLM) for charging depreciation. But from the current financial year it has changed the method to Written Down Value (WDV) Method. For the purpose of accounting treatment of the

SEBI attaches PACL assets worth over Rs49,100 crore

Since PACL and its promoters-directors failed to refund money to investors as per the directions of SEBI and SAT, the market regulator said it has initiated the recovery proceedings

Market regulator SEBI said as part of its recovery proceedings, it has attached all bank and demat accounts, mutual fund portfolios of

CAG Empanelment of Chartered Accountant firms/LLPs for the year 2016-2017

OFFICE OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA 9, DEEN DAYAL UPADHYAYA MARG, NEW DELHI-110124.

Empanelment of Chartered Accountant firms/LLPs for the year 2016-2017

Online Applications are invited from the Chartered Accountant firms/LLPs who desire to be empanelled with the office of the Comptroller and Auditor General of India for appointment as

Empanelment as Concurrent Auditor with Central Bank of India

Central Bank of India Invite Application for Empanelment of CAs as Concurrent Auditors for the year 2016, Please click on the following Link for Submission of

TAX Updates for the month of Nov 2015 on Income Tax FEMA, VAT, etc

Notification, Circular and Press Release

·       The CBDT has issued a press release dated 26.11.2015 pointing out that after notification of ICDS, it has been brought to the notice of the CBDT by the

Cenvat credit is allowable of Service tax paid on the insurance premium to the Insurance Company for Group Insurance and medi-claim policies taken for existing employees as well as for the retired employees

servivce taxReliance Industries Ltd. Vs. Commissioner, Central Excise & Service Tax (LTU), Mumbai [2015 (11) TMI 969 - CESTAT MUMBAI]

Facts:

The Department denied the Cenvat credit to Reliance Industries Ltd. (“the Appellant”) on the ground that the Service tax paid on the life insurance/ medi-claim policy for the existing employees and

2017 C & AG Empanelment Ranking Points Policy & Conditions

The comptroller and auditor general of India office have recently invited applications from the Chartered accountants Firms/ LLP   for the year 2015-16. The online application format shall be

Income Tax department launches PAN-based litigation management system

Income Tax department launches PAN-based litigation

management system

 

Aimed to reduce lengthy proceedings and time taken in litigation, the Income Tax department has activated a PAN-based online system which enables the taxman to access cases in their jurisdiction on a click, amongst a building database of over 5 lakh

GST: Rates & Exemptions!

http://thefirm.moneycontrol.com/story_page.php?autono=4555461

CBDT introduces new facility of pre-filling TDS data to facilitate easy correction or up-dating of TDS details

CBDT introduces new facility of pre-filling TDS data to facilitate easy correction or up-dating of TDS details while submitting online rectification request on the e-filing portal; New facility is expected to ease compliance burden on the

SEBI changes demat account rules

Markets regulator SEBI has decided that all demat accounts would be considered as a basic services demat account (BSDA) unless the demat account holder specifically opts to continue with a regular demat account.

This decision reverses the SEBI circular of August 27, 2012, which allowed existing eligible demat

20 Things Lady CAs of Great Style ALWAYS Do

It's hard to pinpoint just what makes a stylish lady CA.

Is it a vast, amazing wardrobe complete with high- and low-end pieces, alike? Is it a signature uniform that's hers and hers alone? Or, does it simply come from the inside? That's the thing about style — it's

Revision of monetary limits for departmental appeals - CBDT

INCOME TAX APPELLATE TRIBUNAL BAR ASSOCIATION, NEW DELHI

10^TH FLOOR ITAT PREMISES, LOK NAYAK BHAWAN, KHAN MARKET, NEW DELHI-110003

TEL: 24628213 /24647347/ 43528310/ M: 9810870279

E-MAIL: itatbar@gmail.com / itatbardelhi@gmail.com

President Ajay Wadhwa 9818653331 Vice President R. S. Ahuja 9810028009 Gen Secretary Ranjan Chopra 9810047393 Secretary Dr. G. S. Grewal 9811242856 Treasurer R. Sabharwal 9312236105 E.C. Members K. Sampath (Past President) T.R.Talwar R.A. Bansal A. K. Srivasatava M. S. Sekhon Manu Monga P.C. Yadav S. M. Mathur Salil Kapoor Salil Aggarwal Aseem Chawla Sushil K Verma Karan Khanna Manoj Kumar

11th December 2015 Dear Members, The Hon’ble CBDT has issued a path breaking Circular No 21/2015 dated 10.12.2015, for revision of monetary limits for filing of appeals by the Department before Income Tax Appellate Tribunal, Hon’ble High Court and

How A Fake Company Is Created in USA

Here's how it works; how it is done:

The first stop is often to a so-called "registered agent." These firms incorporate tens of thousands of companies a year for fees as low as a few hundred dollars.

In some cases, a corporation can be set up within minutes using little more than an email address -- no proof of

No VAT on free supply of medicines

No VAT on free supply of medicines - State Government isn’t competent to levy tax on the basis of Maximum retail price or any other notional value

Mapra Laboratories Pvt. Ltd. Vs. Commercial Tax Officer [2015 (9) TMI 1274 - PATNA HIGH COURT]

Mapra Laboratories Pvt. Ltd. and others (“the Petitioners”) were engaged in manufacture and sale of

Jio Chat: Reliance's instant messaging app now available in 9 countries

http://www.ibnlive.com/news/tech/jio-chat-reliances-instant-messaging-app-now-available-in-9-countries-1172616.html

The pre-emptive provisions of Article of Association with respect to transfer of shares cannot be enforced in case of amalgamation

CL: The pre-emptive provisions of Article of Association with respect to transfer of shares cannot be enforced in case of amalgamation

CL: Time-limit for filing petition under section 111 of Companies Act, 1956 is 3

When relevant DGFT Notification allowed 'free import' of marble blocks/tiles for CIF value at US$ 60 and above per square metre, if assessee declared same below US$ 60 per square metre, confiscation of such goods would be justified

Excise & Customs: When relevant DGFT Notification allowed 'free import' of marble blocks/tiles for CIF value at US$ 60 and above per square metre, if

Excise & Customs: Use of brand name of foreign company under assignment agreement for exclusive use in India, is use of brand name in assessee's own right and not use of 'other's brand'; therefore, SSI-exemption cannot be denied

Excise & Customs: Use of brand name of foreign company under assignment agreement for exclusive use in India, is use of brand name in assessee's own right and not use of 'other's brand'; therefore, SSI-exemption cannot be

Total votes casted during ICAI election in Northern Region: Area/ City wise

Total Status at 22708

Location Vote Casted Total Votes Percentage
Abohar 24 52 46%
Ambala 0 309 0%
Amritsar 364 551 66%
Ashok Vihar 468 1113 42%

CBDT Amends Rule To Enable Issue Of Notice, Summons, Orders Etc To Taxpayers By Email

Pursuant to the CBDT’s directives regarding ‘Paperless Assessment Proceedings‘, ‘E-Sahyog Project To Avoid Physical Presence Of Taxpayers During Assessment‘ and ‘Redressal of grievances received from Taxpayers by email at Aayakar Sampark Kendra‘, the CBDT has issued a Notification dated 02.12.2015

NO BOOKS OF ACCOUNTS WITH JALANDHAR BRANCH OF NIRC- RTI

In the RTI Application dated 27.10.2015 to ICAI, following docs were asked-

1. DULY CERTIFIED COPIES OF COMPLETE LEDGER ACCOUNTS OF ‘SEMINAR AND MEETING EXPENSES’ FROM THE ACCOUNTS BOOKS OF JALANDHAR BRANCH OF NIRC OF ICAI, AS APPEARING IN THE RESPECTIVE INCOME & EXPENDITURE ACCOUNTS OF THE SAID BRANCH, FOR THE FINANCIAL YEARS 2009-10, 2010-11, 2011-12, 2012-13, 2013-14 AND 2014-15 WITH COMPLETE NARRATION AGAINST EACH ENTRY, DULY TALLIED WITH THE FIGURES OF AUDITED FINANCIAL

Partners Required

We are Delhi based RBI category II firm having head office at sonipat and branches at Moradabad and Delhi having experience of 20 years. 

We are looking for a partner (preferably DISA) for expansion of our business in

Interest on refund of tax is not covered by definition of 'interest' mentioned under article 12(4) of India-Italy DTAA, and, therefore, Assessing Officer is justified in imposing TDS at higher rate while granting such interest to assessee

IT/ILT : Interest on refund of tax is not covered by definition of 'interest' mentioned under article 12(4) of India-Italy DTAA, and, therefore, Assessing Officer is justified in imposing TDS at higher rate while granting such interest

CBDT defines ‘charitable purpose’ for benefits under I-T Act says any general public service that involves trade, commerce or business for a consideration will not be treated as Charity under the Act

With a view to weed out commercial activities under the garb of charity, the tax department has said any general public service that involves trade, commerce or business for a consideration will not be treated as Charity under the Income Tax Act. Issuing ‘Explanatory Notes to the Provisions of the Finance Act, 2015’, which lists all the amendments that were made to it, the Central Board of Direct Taxes (CBDT) in a circular gave the definition of ‘charitable

A Corporate "ANT" Story

“Every day, a small Ant arrived at work early and started work immediately, she produced a lot and she was happy. The boss, a lion, was surprised to see that the ant was working without supervision. He thought if the ant can produce so much without supervision, wouldn’t she produce more if she had a supervisor!

So the lion recruited a cockroach who had extensive experience as a supervisor and who was famous for writing excellent reports. The cockroach’s first decision was to set up a clocking in attendance system. He

ICAI - CARO suggestions

http://www.icai.org/new_post.html?post_id=12149&c_id=219

Reiteration of Principles under CAS-4 by Hon'ble Supreme Court

                                            Nirma Limited V/s CCE Vadodara

A study of the Judgement passed by Hon'ble Supreme Court of India on 9th October 2015 vide Civil Appeal No. 3621/2007 dated 9th October 2015 read with Nirma Limited V/s CCE Vadodara-2005(8) TMI337-CESAT, Mumbai Order No.- A/1650-1653/2005-WZ/C-III dated 26th August 2005 on Valuation of  Excisable Goods brings about the  following:

Simplification of procedure for 15G/15H

1122201544901(1).pdf

MAJOR AMENDMENTS IN SERVICE TAX EXEMPTIONS IN 2015

Amendments made by Notification No. 6/2015-ST dated 1.3.2015 w.e.f. 1.4.2015 or notified date (01.06.2015)

The following changes (new exemptions, withdrawal of existing exemptions or rationalization of exemptions) have been made vide Notification No. 6/2015-ST dated 1.3.2015 w.e.f. 1.4.2015 or

AMENDMENTS AT A GLANCE IN CENVAT RULES IN 2015

AMENDMENTS AT A GLANCE IN CENVAT RULES IN 2015

, 2015

Cenvat Credit Rules, 2004 have been subject to frequent and varied changes over the time. Following Table captures the amendments made in Cenvat Credit Rules, 2004 in 2015. Amendments in Cenvat Credit Rules in 2015 at a Glance

ICAI Objects To Proposal Of Income-tax Dept To Exclude CAs From Practice Of Taxation Law

The ICAI has addressed a letter dated 27.11.2015 to the Principal Commissioner of Income-tax, Chandigarh, raising objections to the alleged proposal of the department not to allow Chartered Accountants and non-Advocates to “practice law” in the course of proceedings before the tax authorities. The ICAI has pointed out that taxation is one of the “core-competence” areas of Chartered Accountants and that they have expertise

Opportunity in SBI for CA, CS, Law graduates

CAREERS WITH US

CENTRAL RECRUITMENT & PROMOTION DEPARTMENT

With a glorious history of more than 200 years blended with futuristic outlook, State Bank of India stands as the proxy for the Indian Economy. The Bank with its customer centric approach values transparency and nurtures knowledge and learning. It believes in the quality of its people and their

MCA last date extended till 30.12.2015 for all forms

http://www.mca.gov.in/Ministry/pdf/General_Circular_No_15_2015.pdf

The Central Government has notified the Schedule of revised All Industry Rates of Duty Drawback effective from 23rd November, 2015.

The Central Government has notified the Schedule of revised All Industry Rates of Duty Drawback effective from 23rd November, 2015.

These revised rates are based on average incidence of Customs and Central Excise Duties and Service

Guide: Using the Function Keys on Your Computer

Have you ever wondered what those twelve, mysterious 'F' keys at the top of your computer keyboard do?  Most of us ignore them but they actually have a number of uses that can help you enjoy a quicker and more efficient computer experience. Known more properly as the 'Function Keys', some are more useful that others and many of them have different functions depending on the programmes you are using. Our simple guide gives you are all the information you need about the uses of the 'F' keys so that they are a mystery no more!

Nearly every programme uses F1 as a Help Key. So if you are on the internet for example and press F1, your browser will automatically bring up a help page. If you are in Microsoft Word and press F1 you will be taken to the extensive help section.

ICAI - December Journal

http://www.icai.org/new_post.html?post_id=5487&c_id=259

Service tax on Data Storage Services Provided in India and abroad by companies registered in India

In a regime where cloud computing is gaining popularity and the servers providing the facility of data storage at remote location, it becomes pertinent to assess whether such activity constitute  “service” or “Goods” for taxation

Expression of Interest for Chartered Accountant Firms/Consulting Firms in Internal Audit for Balmer Lawrie And Co. Limited

Balmer Lawrie And Co. Limited
Last Date : Dec 28, 2015
Expression of Interest for Chartered Accountant Firms/Consulting Firms in Internal Audit for

How GST Will Change the Face of Indian Economy? - Must Read

How GST Will Change the Face of Indian Economy? - Must Read


Indian truck drivers clock an average of 280 km per day, much below the world average of 400 km per day and far below the 700 km the average truck driver in the US does every day. The underperformance of Indian truckers has less to do with bad roads and less fancy trucks and more

Apex Court discuss scope of ‘commercial expediency’ to allow deduction of interest to Hero Cycles

IT : Once it is established that there is nexus between the expenditure and the purpose of business (which need not necessarily be the business of the assessee itself), the revenue cannot justifiably claim to put itself in the arm-chair of the businessman or in the position of the board of directors and to decide how much is reasonable expenditure having regard to the circumstances of the case.

Facts

(a)		Assessee-company had taken a loan at interest rate of 18% p.a. Out of such borrowed funds it had transferred certain sum to its subsidiary-company without any interest. It had claimed deduction of interest under Section 36(1)(iii).
(b)		Assessing Officer ('AO') disallowed interest on borrowed sum on the ground that such funds

Will PSU offers get oversubscribed?

IPO Pricing Impact

Will PSU offers get oversubscribed?

 

The Bihar election results seem to have jolted the National Democratic Alliance (NDA) into  realising that people are fast

ICAI - Appeals to Voters

http://icai.org/post.html?post_id=12155

Annual turnover' can't be interpreted to include only brokerage for computing registration fee: SC

Annual turnover' can't be interpreted to include only brokerage for computing registration fee: SC

November 26, 2015[2015] 63 taxmann.com 311 (SC)

SEBI : Annual turnover of stock broker as per Explanation after paragraph 3 to Schedule III to SEBI (Stock Brokers & Sub Brokers) Regulations, 1992 must include value of entire

IT: HC sets aside block assessment as seized material was destroyed in fire that took place at revenue's office

IT: HC sets aside block assessment as seized material was destroyed in fire that took place at revenue's office

 [2015] 63 taxmann.com 137 (Delhi)

HIGH COURT OF DELHI

Commissioner of Income-tax (C)-I

v.

MGF Automobiles Ltd.*

Section 153A of the Income-tax Act, 1961 - Search and seizure - Assessment in case of (Conditions precedent) - Assessment years 2004-05 and 2005-06 - Pursuant to High Courts