Need to remove uncertainty over exemption U/s. 54EC

Service tax – Significance of the phrase carried out by a person for another Posted: 15 Apr 2012 08:40 PM PDT The phrase 'provided by one person to another' signifies that services provided by a person to self are outside the ambit of taxable service. Example of such service would include a service provided by one branch of a company to another or to its head office or vice-versa. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Are Government and local authorities liable to pay service tax? Posted: 15 Apr 2012 08:38 PM PDT Yes. However, most of the services provided by the Government or local authorities are in the negative list. Rationale behind taxing certain activities of the Government or local authorities. Only those activities of Government or local authorities are taxed where they compete with private... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Taxability of composite transactions which in addition to a transfer of title in goods involve an element of provision of service Posted: 15 Apr 2012 08:34 PM PDT The manner of treatment of such composite transactions for the purpose of taxation, i.e. are they to be treated as sale of goods or provision of service, has been laid down by the Hon'ble Supreme Court in the case of Bharat Sanchar Nigam Limited v. Union of India [2006 (2) STR 161 (SC)]. The... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Rajasthan VAT – Works Contract Exemption Fees Posted: 15 Apr 2012 07:53 PM PDT Rajasthan government has changed the rates of exemption fees relating to works contracts of various nature w.e.f. 01st April, 2012. This will have high implication on applications for exemption fees for works contracts made after 1st April, 2012. Following is an analysis of the same. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Transfer of Right to use Goods – Deemed sale or service? Posted: 15 Apr 2012 07:41 PM PDT Transfer of Right to use goods for cash, deferred payment or valuable consideration is considered as deemed sales under sub-clause (d) of Article 366(29A) of Constitution of India and also consequently under Punjab VAT Act and CST Act liable to VAT and CST respectively. Right to use of tangible... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] S.195A not bar oral agreements or arrangements for payment of tax free incomes Posted: 15 Apr 2012 07:18 PM PDT In the case before us, the assessee was liable to pay labour charges to various parties and made the payment without deducting tax at source. However, at the end of the financial year, the assessee has made a provision for tax deductible at source and has remitted to the Government account before... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Income Tax Settlement Application U/s 24C can not be revised Posted: 15 Apr 2012 07:09 PM PDT Under section 245D of the Act, once the application is admitted, the assessee is required to pay the additional demand on the basis of income disclosed in the application within 35 days of the order of the Commission u/s 245D(1) and in case the demand is not paid within the time allowed interest at... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Maharashtra LA Bill No.XVII of 2012 Posted: 15 Apr 2012 08:16 AM PDT LA Bill No.XVII of 2012 regarding the proposed amendments in Tax Laws according to Maharashtra Budget 2012 -Download Maharashtra LA Bill No.XVII of 2012 [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Need to remove uncertainty over exemption U/s. 54EC Posted: 14 Apr 2012 11:00 PM PDT The existing restriction in exemption u/s. 54EC is clearly an attempt to prevent home owners from fully enjoying the benefits. The treatment of long-term capital gains (LTCG) has been a contentious issue in recent years. Section 54EC of the Income-tax Act, 1961, exempts from taxation capital gains... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] ITR1 ITR2 ITR3 ITR4S ITR4 in excel & Pdf format – FY 2011-12 Posted: 14 Apr 2012 10:00 PM PDT ITR-1 SAHAJ, ITR 2, ITR 3, SUGAM (ITR-4S), ITR-4, I in excel, word and Pdf Format for A.Y. 2012-13 / Financial Year 2011-12. We have uploaded below ITR 1- Sahaj, ITR 2, ITR 3, ITR-4, SUGAM (ITR-4S), in Excel Word and Pdf Format applicable for Assessment year 2012-13 and Financial Year 2011-12. [[ This is a content summary only. Visit my website for full links, other content, and more! ]]