| What is to be done if you get NULL error, while uploading the xml file of ITR Posted: 06 Aug 2012 08:13 PM PDT This particular problem happens when there is slow internet connection or network congestion, as the XML is file is not read completely and henceforth > it throws exception stating to upload proper XML. Trying after sometime may resolve this problem. Kindly follow the following steps : Set the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Prima facie Service tax is payable at 10.30% on services provided before 01.04.2012 Posted: 06 Aug 2012 07:31 PM PDT Delhi HC stays differential demand of service tax of 2% on services provided & invoices issued prior to 01.04.2012 - Delhi High Court Stays collection of differential demand of service tax of 2% on services provided and invoices issued prior to 01.04.2012 for which payment received after... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| FM promised to review GAAR provisions & retrospective amendments Posted: 06 Aug 2012 07:24 PM PDT Clarity in tax laws, a stable tax regime, a non-adversarial tax administration, a fair mechanism for dispute resolution, and an independent judiciary will provide great assurance to investors. We will take corrective measures wherever necessary. We have recently appointed two Committees, one to... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Income from providing services to tenants is taxable as business income Posted: 06 Aug 2012 07:14 PM PDT The issue whether a particular let out is business or earning rental income by the owner of the premises has to be decided in the facts and circumstances of each case. Therefore, so far as the rental income for the let out premises owned by the assessee is concerned, the issue is settled by the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Prima facie service tax leviable on selling of space for advertisement in cricket stadium Posted: 06 Aug 2012 07:07 PM PDT The appellant Rajasthan Cricket Association organises cricket matches in various places in Rajasthan and they allow different parties to put up advertisement in the stadium in which matches are being organised, and they have been collecting charges for selling such advertisement space. Revenue made... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Refund cannot be denied merely because export invoice numbers not mentioned on lorry receipts Posted: 06 Aug 2012 07:00 PM PDT No doubt the Notification requires that details of export invoices should be mentioned in lorry receipts and shipping bills, however, there is no bar to provide these details separately in case the original lorry receipts/shipping bills did not contain these details. The Revenue is free to insist... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Solution for error 'Cannot read the xml file' occurring while uploading ITR XML File Posted: 06 Aug 2012 12:13 PM PDT I have saved the xml file in my computer but while uploading system is giving the error "Cannot read the xml file? What should I do ? Ans. Kindly set the Internet Explorer Security Settings to Low as per following steps :a) In case of windows professional/vista, thenGo to Control Panel — Java —... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Employers to Face Trouble in Service Tax Posted: 06 Aug 2012 12:17 AM PDT Under the new service tax regime, any services not mentioned in the negative list will be subjected to Service Tax, if not otherwise exempt. If services are provided against a portion of the salary foregone by the staff, then it will be considered as having been made for a consideration and thus... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Service Tax – Place of Provision of Service Rules – An analysis Posted: 05 Aug 2012 10:44 PM PDT The negative list of taxing services has hailed complexities in determination of the jurisdiction of the statute for taxation of services. The emphasis for taxing services is on the provision of services in the taxable territory. However, due to the inherent nature of service arrangements, it is... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| ITAT has power to stay proceedings to give effect to 263 revision order Posted: 05 Aug 2012 10:29 PM PDT It is well settled by the judgment of the Supreme court in ITO v. Mohd. Kunhi, (1969) 71 ITR 815 that the Tribunal, while exercising its appellate powers under the Income Tax Act has also the power to ensure that the fruits of success are not rendered futile or nugatory and for this purpose it is... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Reference by AO to valuation officer u/s. 142A without any material evidence or finding is invalid Posted: 05 Aug 2012 09:48 PM PDT The condition precedent for making the reference by invoking the provisions of Section 142A thus is that there should be something on record to show that the assessee in first place has made such investment outside the books or the investment so made by him is not fully disclosed in the books of... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Section 44AC covers only expenditure the benefit of which derived both by Head Office & Branch Posted: 05 Aug 2012 09:46 PM PDT It was held that what is covered u/s.44C is the expenditure that is common in nature meaning thereby that the benefit of the said expenditure is derived both by the Head Office and the Branch. It was held that payment of salary made in the case of the assessee was to expatriate employees who were...
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