Auto Cancellation of Excise, Service tax Registration for non filing of Returns

Auto Cancellation of Excise, Service tax Registration for non filing of Returns Posted: 06 Apr 2012 08:44 PM PDT Registration of a manufacturer will be cancelled automatically if excise duty returns are not filed for six months, as per the latest government proposal. In case of a service provider, the registration will be cancelled automatically if return is... EPFO introduces Electronic Challan cum Return (ECR) Service Posted: 06 Apr 2012 07:24 PM PDT The ECR facility is available from April, 2012. All Employers who are covered under the Employees' Provident Funds & Miscellaneous Provisions Act, 1952 are required to register their establishments on EPFO website for filing the Electronic... Download, know and FAQ on Form 15G & Form 15H (Updated) Posted: 06 Apr 2012 06:35 PM PDT Everyone is aware that Form 15G and form 15H are used for avoiding the TDS deduction while computing the interest earned during the financial year. In this article we are discussing important points to remember while submitting the Form 15G and Form... Investment Limit in Capital Gains Bond u/s 54EC Posted: 06 Apr 2012 06:34 PM PDT Per REC and NHAI issue rules, the maximum investment allowed per retail investor per financial year in the specified bonds is Rs 50 lakh. The words used in proviso to Section 54EC is any financial year and not relevant financial year. Definition of... Budget 2012 Highlights – Direct Tax Proposals Posted: 06 Apr 2012 06:33 PM PDT Alternate Minimum Tax (AMT) on all persons other than companies - * Under the existing provisions, AMT is levied on LLP. Now AMT is also proposed to be levied on partnership firms, sole proprietorship, AOP Excel Tips – How to Find duplicates items in combine columns in Microsoft Excel Posted: 06 Apr 2012 06:30 PM PDT Find duplicates items in combine columns in Microsoft Excel - Enter the formula : =A1&B1 to cell C1 and copy / paste the formula to cells C2:C12 - Enter the formula : =IF(COUNTIF($C$1:C1,C1)>1,"Duplicate","Unique") - to cell E1 and copy /... Refusal To Give 30 Days For Tax Payment Is High-handed & Unlawful – HC Posted: 06 Apr 2012 03:00 PM PDT In the present case, as noted earlier, a provisional attachment has already been levied on 7 October 2011 under Section 281B by which the amount which was invested by the Assessee in mutual funds of SBI Mutual Funds was attached. The attachment was... S.14A does not apply to shares held as stock-in-trade Posted: 06 Apr 2012 02:00 PM PDT HC held that When no expenditure is incurred by the assessee in earning dividend income, notional expenditure cannot be disallowed u/s 14A. The assessee had not retained shares with the intention of earning dividend. The dividend income was... s.148 notice beyond 4 years without compliance of s.147 & s.151(2) not valid Posted: 06 Apr 2012 01:30 PM PDT The notice under section 148 can be issued beyond four year with prior approval of joint commissioner and at the same time joint-commissioner should be satisfied that this is fit case for issue of a notice in view of section 151(2). In the present... Holding of classes not mandatory to qualify as educational institution Posted: 06 Apr 2012 01:00 PM PDT Assessee has filed writ petition against order passed by the Director General of Income Tax (Exemptions), for denying them exemption under Section 10(23C)(vi) of the Income Tax Act, 196, on the ground that the aforesaid institute was not directly... HC Warns AO on Tax Recovery Mania for not following guidelines Posted: 06 Apr 2012 12:30 PM PDT irst Petitioner does have serious issues to be urged before the Commissioner of Income Tax (Appeals) in appeal. This is a case where the Assessing Officer while exercising the jurisdiction under Section 220(6) and the Director of Income Tax ought to... KBC Winner – HC asks to not to take extra legal steps of threatening or inducing assessee for tax recovery Posted: 06 Apr 2012 11:31 AM PDT The Hon'ble Supreme Court in M/s. Dabur India Ltd. and another v. State of Uttar Pradesh and others. AIR 1990 SC 1814, observed that Government, Central or State, cannot be permitted to play dirty games with the citizens of this country to coerce... Surcharge Not dependent on liability to pay income tax but on assessed tax Posted: 06 Apr 2012 11:29 AM PDT The Hon'ble Supreme Court in the case of CIT Vs. Raju Bhatra reported in (2009) 310 ITR 105 (SC) has laid down the ratio that surcharge leviable under the Finance Act was a distinct charge not dependent for its leviability on the assessee's... Any service used by manufacturer directly or indirectly in or in relation to manufacture of final products constitutes input service Posted: 06 Apr 2012 10:59 AM PDT It was held that any service used by the manufacturer whether directly or indirectly in or in relation to the manufacture of final products constitutes input service. The catering service, rent-a-cab and transportation services and the tax paid on... If past decisions were in favour of Assesee till contrary decision failure on the part of the assessee acceptable as a bona fide error and cannot be attributed to be wilful intention to evade tax Posted: 05 Apr 2012 10:45 PM PDT It was held that till the decision in the case of ITC Ltd., all the decisions were in favour of the respondents and therefore invoking suppression or mis-declaration etc. for confirmation of demand is not in order. Further, I also take note of the... Looking at' the nature of transaction, consortium bidding &amp: executing turnkey project taxable as AOP, contract cannot be dissected for tax purposes -AAR Posted: 05 Apr 2012 09:25 PM PDT AAR held that a consortium formed by the Applicant with another non-resident, to bid for a turnkey contract, is liable to be taxed as Association of Persons (AOP) according to the Income-tax Act, 1961 (the Act) and the Double Tax Avoidance Agreement... Under Regulation 73 company required to file report on repayment to investor with SEBI Posted: 05 Apr 2012 09:21 PM PDT The case of respondent no. 1 is that all correspondence / dealing by the petitioner with the Complainant Board in this regard have been with the Northern Regional office at New Delhi, within territorial jurisdiction of Delhi Courts. The petitioner...