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Dec 18, 2012

Procedure to Reset Password in Case Account with is Blocked

Procedure to Reset Password in Case Account with is Blocked

Posted: 18 Dec 2012 04:47 AM PST

Many a time Assessee forgets the Password to login into account with In such cases if user enters incorrect user name or password 5 consecutive times, his account gets blocked by the system. To unblock the account with ACES assessee have two options :-

No Service Tax on Reimbursements Is Ultra Vires

Posted: 18 Dec 2012 03:43 AM PST

Service providers and professionals are aware that Service Tax is payable @ 12.36 percent on the value to taxable services which implies gross amount charged by the service provider for such service provided or agreed to be provided. However, where the consideration is not in money form, wholly or...

'Sint Maarten, Netherlands', notified as specified area for DTAA

Posted: 17 Dec 2012 09:07 PM PST

NOTIFICATION NO. 54/2012 In exercise of the powers conferred by Explanation 2 to section 90 of the Income- tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sint Maarten, a part of Kingdom of Netherlands, the area outside India as the 'specified territory' for the purposes of the...

Business income of trust eligible for Exemption U/s. 11 if it is incidental to its objects

Posted: 17 Dec 2012 09:02 PM PST

The assessee, a chamber of commerce and industry, in the course of pursuing its objects rendered several services, such as, certification, committee room services, secretarial services and facilities, energy audit, etc. to its members and non-members for a fee. It was registered under section 12A....

Airport Authority isn't a 'municipality, Agricultural land situated within its jurisdiction is not a 'capital asset'

Posted: 17 Dec 2012 08:55 PM PST

Land which does not fall under the provisions of section 2(14)(iii) of the IT Act and an assessee who is engaged in agricultural operations in such agricultural land and also being specified as agricultural land in Revenue records, the land is not subjected to any conversion as non-agricultural...

Companies Bill approved by Lok Sabha with mandate on CSR spending

Posted: 17 Dec 2012 08:30 PM PST

Lok Sabha today passed the Companies Bill , with the government saying the aim is to protect interest of employees and small investors while encouraging firms to undertake social welfare voluntarily instead of imposing that through inspector raj. Replying to a debate before the bill was passed by a...

RBI keeps key rates unchanged in mid-quarter policy review

Posted: 17 Dec 2012 08:00 PM PST

The Reserve Bank of India has decided to keep all the key rates unchanged in its mid-quarter policy review today. The repo rate has been kept unchanged at 8 per cent and the cash reserve ratio has also been kept unchanged at 4.25 per cent. Consequently, the reverse repo rate will remain unchanged...

Corrigendum to General Circular No: 39/2012 related to XBRL Filing Due Date

Posted: 17 Dec 2012 07:17 PM PST

General Circular No: 41/2012 Filing of Balance Sheet and Profit and Loss Account in eXtensible Business Reporting Language (XBRL) mode for the financial year commencing on or after 01.04.2011- Corrigendum to General Circular No: 39/2012.

If internal and external comparables available then TPO justified in adopting CUP method for comparability analysis instead of TNMM applied by assessee

Posted: 17 Dec 2012 07:15 PM PST

As regards the method to be adopted for comparability analysis, the contention of the revenue that CUP is the most appropriate method in the facts and circumstances of the case especially when internal comparables are available for the comparability analysis, has to be accepted. Therefore, there is...

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