Section 54EC do not stipulate assessment year in which investment is to be made

Section 54EC do not stipulate assessment year in which investment is to be made Posted: 24 Aug 2012 08:27 PM PDT The provisions of section 54EC do not make any reference to the assessment year in which the investment is to be made but only lays down a condition of 6 months period of time after the date of transfer of the capital asset. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Holding period of asset received in exchange to be counted from possession date Posted: 24 Aug 2012 08:26 PM PDT The assessee computed the gain from sale of flats as long term capital gain taking holding period from the date of development-cum-sale agreement. The Assessing Officer has not accepted the claim of the assessee and has computed capital gain as short term capital gain as the assessee had taken... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Selling of vegetarian food for popularizing vegetarian food habits is charitable object Posted: 24 Aug 2012 08:25 PM PDT The preparation of vegetarian food items and selling the same was mainly for popularizing the vegetarian food habits and in this way the assessee is engaged in promoting the vegetarianism among the people so that they can change their living habits and take the necessary steps for the better of... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] FAQs on Direct Entry to Chartered Accountancy (CA) Course Posted: 24 Aug 2012 08:25 PM PDT Who is eligible to register directly for Chartered Accountancy Course without passing Common Proficiency Test (CPT)? The following categories of students are eligible to register directly for Intermediate (Integrated Professional Competence) Course without passing the Common... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Registration cannot be denied to muslim Trust giving Islamic education Posted: 24 Aug 2012 08:25 PM PDT The learned CIT continued to observe that section 13(1)(b) of the Act provides that in the case of a trust or charitable institution created or established for the benefit of a particular religious community or caste, no income will be excluded from the total income. It was, further, observed by... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] CPC Workshop on Rectification / Reconciliation of Arrear Demand Posted: 24 Aug 2012 08:04 PM PDT Kind reference is invited to the above, wherein the assessing officers have been instructed to verify and reconcile the demands where such demand or adjustment thereof by CPC is disputed by the taxpayer. They have also been advised to upload amended figure of arrear demand on the Financial... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] No deemed dividend on loan given to director for providing collateral & giving personal guarantee to bank Posted: 24 Aug 2012 07:58 PM PDT By virtue of offering personal guarantee and collateral security for the benefit of the company, the liquidity position of the assessee had gone down. In the strict sense if it is to be construed the amount forwarded by the company to the assessee was not in the shape of advances or loans. The... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Free Handbook on Real Estate Taxation & legal Aspects Posted: 24 Aug 2012 06:08 PM PDT An informative handbook offering comprehensive information on real estate has been attached for your reference. The Book overs the following topics :- Overview of Real Estate laws of India, Rent Control Act, Property Tax, FDI guidelines for real estate, Income Tax, Service Tax, FEMA, Real Estate... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] ICAI Guidelines for Advertisement for Members in Practice Posted: 24 Aug 2012 01:00 AM PDT The Members may advertise through a write up setting out their particulars or of their firms and services provided by them subject to the following Guidelines and must be presented in such a manner as to maintain the profession's good reputation, dignity and its ability to serve the public interest. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] ITAT cannot ask for rejection of books if A.O. made addition on the basis of his limited review Posted: 23 Aug 2012 10:36 PM PDT In the instant case, the Judicial Member has not stated anywhere that the profit margin disclosed by the assessee was rejected by the Assessing Officer arbitrarily and the addition made by the Assessing Officer is excessive and arbitrary. The Assessing Officer has discretion to either reject the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] GST is More Effective & Efficient Substitute for Plethora of Indirect Taxes -FM Posted: 23 Aug 2012 09:58 PM PDT The Union Finance Minister, Shri P. Chidambaram said that the goods and services tax (GST) is a more effective and efficient substitute for plethora of indirect taxes. The Finance Minister said that he is hopeful that the GST Bill would be passed before the end of the current financial year. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] DVAT- Regarding Online submission of Tax Rate Wise Stock held on 31st March Posted: 23 Aug 2012 08:25 PM PDT Vide notification no.F.7/433/Policy-Ii/VAT/2012/472-483 dated 16.08.2012, the Department of Trade and Taxes has notified form Stock-1 and has made it mandatory for all dealers to submit online, Tax Rate Wise details of stock held on 3pt day of March every year in form Stock-1. This information is... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Constitution of a Committee for Reforming the Regulatory Environment for doing Business in India Posted: 23 Aug 2012 07:34 PM PDT General Circular no. 26/2012 Easing of business environment mandates extensive examination of regulations in different areas of root functioning such as financial reforms, governance reforms, liberalized policy framework, process reforms, etc.,. Thus there is a need to conduct an in-depth study... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Steps Taken to Prevent Misuse of Tatkal Tickets Posted: 23 Aug 2012 06:57 PM PDT With a view to reduce the scope for misuse, Tatkal tickets are issued on production of self attested photocopy of one of the prescribed proof of identity and the same in original is required to be carried during the journey, to verify the bonafide of passengers. However, during peak rush periods... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] DGFT- Relaxation of (-) 5% by weight in export of sugar Posted: 23 Aug 2012 06:23 PM PDT Policy Circular No. 3 (RE-2012)/2009-14 It has been decided with the approval of Competent Authority that a variation of (-) 5% in weight against Registration Certificates issued for export of sugar shall be allowed. Thus, a variation of (-) 5% in weight in exports of sugar against... [[ This is a content summary only. 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