Procedure for updating demographic and contact details in TAN registration Posted: 07 Apr 2013 03:31 AM PDT Update of TAN registration details is allowed on successful logging to TAN account. For updating the TAN registration details click on "Update Profile". Under 'update profile' user can update demographic and contact details including e-mail ID (s) On successful update of...  |
| Highlights of Tax Proposals- Delhi Vat Amendments in 2012-13 Posted: 07 Apr 2013 03:29 AM PDT 1. As a major relief to small traders, the threshold limit for Registration under VAT has been proposed to be raised from Rs. 10 lakh to Rs. 20 lakh. 2. A new composition scheme is to come into effect from April 1, 2013, under which dealers would be allowed to pay a tax based on their [...]  |
| Dues of EPF, ESIC, etc., if deposited before due date of filing return, is allowable Posted: 07 Apr 2013 02:59 AM PDT After considering the rival submissions and perusing the relevant material on record it is observed that the due date for filing the return of income by the assessee under section 139(1) for the relevant year is 30.11.2006. The AO has drawn a chart at page-4 of the assessment order showing the...  |
| S. 54 Amount not utilized in construction of residential house within 3 years is taxable in the year in which period of 3 years expires Posted: 07 Apr 2013 02:39 AM PDT On examining section 54 and 54F, we find that the provision contained u/s 54 including the proviso are parimateria with section 54F of the Act. The proviso to section 54 also lays down that if the amount of capital gain is not utilized towards construction of residential house within a period of 3...  |
| Salary to Working partner cannot be restricted without justifying such move Posted: 07 Apr 2013 02:37 AM PDT A perusal of the assessment order clearly shows that Smt. Madhumita Paul, had been summoned under section 131 of the Act and her statements have been recorded. It is shown in the statements recorded that Smt. Madhumita Paul did do work at the business premises of the assessee firm. However, the...  |
| Undisputed Tenancy Right is Capital Asset & Amount Received on its Surrender is Assessable as Capital gain Posted: 07 Apr 2013 02:36 AM PDT Assessee, in fact, was enjoying possession of the impugned property and for peaceful vacation thereof it had received the impugned amount which was described by both parties as amount paid for surrender of tenancy rights. The assessee had acquired the said right long back and the licensor to the...  |
| MVAT – Amendment in VAT Rate on Precious Stone (Diamond) Wef 01.04.2013 Posted: 07 Apr 2013 01:41 AM PDT In exercise of the powers conferred by sub-section (1) of section 9 of the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Government of Maharashtra hereby amends, SCHEDULE 'B' appended to the said Act, as follows, namely:  |
| Circular 1 of 2013 – Consolidated FDI Policy (Effective from 5-4-2013) Posted: 07 Apr 2013 01:33 AM PDT Department of Industrial Policy and Promotion Ministry of Commerce and Industry Government of India CONSOLIDATED FDI POLICY (EFFECTIVE FROM APRIL 5, 2013) CHAPTER 1: INTENT AND OBJECTIVE 1.1 INTENT AND OBJECTIVE 1.1.1 It is the intent and objective of the Government of India to attract and promote...  |
| DGCEI, Chennai detects tax evasion of 560 Crore in F.Y. 2012-13 Posted: 05 Apr 2013 12:26 PM PDT It is to inform that during the Financial Year 2012-1 3, The Directorate General of Central Excise Intelligence, Chennai Zonal Unit [CHZU] has detected a total of 164 cases involving evasion of central excise duty/ evasion of service tax to the extent of Rs. 560 crores.  |
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