Section 54EC – Time Limit gets extended if specified bonds of assessees choice were not available

Section 54EC – Time Limit gets extended if specified bonds of assessees choice were not available Posted: 15 Aug 2012 02:13 AM PDT Section 54EC of the Act having given the respondent a choice of investing either in the bonds of Rural Electrification Corporation Limited or the National Highway Authority, the revenue cannot insist that the respondent ought to have invested its capital gain on sale of property in the bonds of the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Gift by company to subsidiary are dubious & not tax neutral – AAR Posted: 15 Aug 2012 01:53 AM PDT In the context of section 47(i) and (iii), this gift referred to therein, is a gift by an individual or a Joint Hindu Family or a Human Agency. Section 47(iii) speaks of 'any transfer of a capital asset under a gift, or will or an irrecoverable trust'. Execution of a will involves a human agency.... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Documentation for Foreign Direct Investment (FDI) Reporting Posted: 14 Aug 2012 03:50 PM PDT What is FDI? - FDI refers to Foreign Direct Investment in `equity share or fully and mandatorily convertible preference shares or fully and mandatorily convertible debentures' (FDI Instruments) of an Indian company by non resident entities. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Extension of due date for filing MVAT return for the period ending 30th June 2012 Posted: 14 Aug 2012 02:24 AM PDT The due date for the return period ending June 2012 (i.e. for monthly and quarterly filers) was 21st July 2012. By virtue of the Para 5 of Trade Circular 1T of 2009 dated 12th January 2009 the additional 10 days period was provided for uploading of the return provided that these dealers made the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Profession Tax – Extension of Due date of payment of tax by persons enrolled on or before 31 May 2012 Posted: 14 Aug 2012 02:18 AM PDT No. PFT-2012/46/Adm-20.In exercise of the powers conferred under clause (a) of sub-section (2) of section 8 of the Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975, (Mah, XVI of 1975) the Commissioner of Profession Tax, Maharashtra State, Mumbai hereby, in respect of... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]