| SC will decide on applicability of TDS on payments made to state-owned BSNL and MTNL for interconnectivity by private players
THE Supreme Court will decide whether private telecom operators are liable to deduct TDS for the payments made to the state-owned BSNL and MTNL for interconnectivity. A bench comprising Justice SH Kapadia and Justice Aftab Alam on Friday issued... |
| RBI issued circular, relaxing existing norms on Investment Portfolio of Primary Dealers 
RBI/2009-10/ 136 (IDMD.PDRD.No. 1050/ 03.64.00/2009- 10) Dated: August 31, 2009 All Standalone Primary Dealers Dear Sir, Investment Portfolio of Primary Dealers - Relaxation in the existing norms 1. Please refer to our Master Circular... |
| CBDT advised to deduct TDS on second installment of arrears under the Sixth Central Pay Commission award 
The second installment of arrears under the Sixth Central Pay Commission award will not only put more money in the pockets of Government employees, but may also bolster direct tax collections. Sensing a good tax mop-up opportunity from this large... |
| Notification on Compulsory E- Filing of Form-101 related to MVAT registration
COMMISSIONER OF SALES TAX, MAHARASHTRA STATE Vikrikar Bhavan, Mazgaon, Mumbai 400 010, dated the 26th August 2009 NOTIFICATION Maharashtra Value Added Tax Act, 2002, No. VAT/AMD-1009/ IB/Adm-6.—In exercise of the powers conferred by sub-rule... |
| Circular on Grant of refund under MVAT Act to specified category of dealers – Modifications/clarifications
Trade Circular No. 24 T of 2009, No. : – ACST/VAT 01/ Refunds/ Mumbai, Dt : 29th August 2009 Subject: - Grant of refund under MVAT Act to specified category of dealers – Modifications/clarifications Gentlemen /Sir /Madam, 1.... |
| Trade advance given to give effect to a commercial transaction can not be treated as deemed dividend
SUMMARY OF CASE LAW Section 2(22) of the Income-tax Act, 1961 – Deemed dividend – Assessment year 1996-97 – Whether word `advance', which appears in company of word `loan' in section 2(22)(e), can only mean such advance... |
| Identification of donor and receipt of gift by cheque not sufficient to prove genuineness of gift
CASE LAW DETAILS Decided by: HIGH COURT OF PUNJAB AND HARYANA, In The case of: Yash Pal Goel v. Commissioner of Income-tax (Appeals), Chandigarh, Appeal No.: [2009] 181 TAXMAN 175 (PUNJ. & HAR.) , IT APPEAL NO. 389 OF 2008 ( Decided on:... |
| Replacement expenditure is neither current repairs nor revenue : SC
In The case of: CIT vs. Sri Mangayarkarasi Mills (Supreme Court) RELEVENT PARAGRAPH The assessee incurred expenditure on replacement of machinery in a textile mill and claimed the same as revenue expenditure on the ground that it was merely for... |
| Section 55A of the Income-tax Act, 1961 related Capital gains and Reference to Valuation Officer
SUMMARY OF CASE LAW Whether by invoking section 55A, Assessing Officer can disturb sale consideration – Held, no - Whether for invoking section 55A there has to be a claim made by assessee, before Assessing Officer can record opinion either... |
| Surchage, Education Cess and applicability on TDS related to A.Y. 2010-11 (F.Y. 2009-10)?
1. Surcharge: No Surcharge on TDS in case of payment is made to Resident or Domestic Company No Surcharge on TDS in case of payment is made to Non Resident other than Foreign Company 2.5% Surcharge on TDS if the recipient is a foreign company... |
No comments:
Post a Comment