Dear Friends, I recently launched a website www.taxguru.in all new updates will be given to you now on this website only those who are existing subscriber to www.kanoisandeep.blogspot.com are requested to visit www.taxguru.in to suscribe to www.taxguru.in.

Jun 4, 2013

TDS on Property – FAQ , Payment Procedure & Points to Remember


TDS on Property – FAQ , Payment Procedure & Points to Remember

Posted: 04 Jun 2013 08:35 PM PDT

As per Finance Bill of 2013, TDS is applicable on sale of immoveable property wherein the sale consideration of the property exceeds or is equal to Rs 50,00,000 (Rupees Fifty Lakhs). Sec 194 IA of the Income Tax Act, 1961 states that for all transactions with effect from June 1, 2013, Tax @ 1%...

Political to furnish information under RTI Act – CIC

Posted: 04 Jun 2013 08:00 PM PDT

By his RTI application dated 16.5.2011, complainant S.C. Aggarwal has sought the following information from the Presidents/Secretaries of the Indian National Congress (INC/AICC) and the Bhartiya Janata Party (BJP)

Interest and Finance Charges (IFC) – Treatment in Costing

Posted: 04 Jun 2013 07:13 PM PDT

Institute of Cost Accountants of India has released CAS-17: COST ACCOUNTING STANDARD ON INTEREST AND FINANCING CHARGES on 23/05/2013. This article is a step towards interpretation and explanation of various aspect of the said Cost Accounting Standard

Applicability of Rules of Transfer Pricing on Specified Domestic Transactions

Posted: 04 Jun 2013 06:50 PM PDT

The Finance Act, 2012 has extended the applicability of provisions of transfer pricing to Specified Domestic Transactions also. As per Sec.92BA "Specified Domestic Transaction "means:- Any expenditure in respect of which payment has been made or is to be made to a person referred to in clause (b)...

Glance at Place of Provision of Service Rules,2012

Posted: 04 Jun 2013 06:43 PM PDT

According to Section 66C of Finance Act,2012 The Central  Government may, having regard to the nature & description of  various services, by rules made in this regard, determine the place where such services are provided or agreed to be provided. Any rule under subsection (1) shall not be...

Transfer Pricing Law Not Applies to Share Investment Transactions

Posted: 04 Jun 2013 06:18 PM PDT

In our opinion, the amount representing 2118.84 is towards investment in share capital of the subsidiaries outside India as the transactions are not in the nature of transactions referred to section 92-B of the IT Act and the transfer pricing provisions are not applicable as there is no income....

RBI releases clarifications to queries on Guidelines for Licensing of New Banks in Private Sector

Posted: 04 Jun 2013 11:49 AM PDT

The Reserve Bank of India today released on its website, clarifications to queries on the Guidelines for Licensing of New Banks in the Private Sector. The Reserve Bank of India released the Guidelines for Licensing of New Banks in the Private Sector on its website on February 22, 2013. Following...

Review of policy on foreign direct investment in Multi Brand Retail Trading Sector

Posted: 04 Jun 2013 11:47 AM PDT

Review of the policy on foreign direct investment in the Multi Brand Retail Trading Sector- amendment of paragraph 6.2.16.5(2) of 'Circular 1 of 2013-Consolidated FDI Policy' June 4, 2013   Government of India Ministry of Commerce & Industry Department of Industrial Policy &...

Foreign Direct investment Policy – definition of 'group company'

Posted: 04 Jun 2013 11:46 AM PDT

June 4, 2013   Government of India Ministry of Commerce & Industry Department of Industrial Policy & Promotion Press Note No. 2(2013 Series) Subject : Foreign Direct investment Policy – definition of 'group company' 1.0 The Government has decided to incorporate the following definition...

Employee provident fund guidance concerning international workers

Posted: 03 Jun 2013 09:30 PM PDT

Changes made to India's Employees' Provident Funds Scheme, 1952 (EPFS) and Employees' Pension Scheme, 1995 (EPS) in 2008 added 'international workers' within the Indian social security regime. Recently, India's Employees' Provident Funds Organisation issued a circular directing its field officers...

MVAT Notification for Second amendment to the Maharashtra Value Added Tax Rules, 2005

Posted: 03 Jun 2013 09:30 PM PDT

Whereas the Government of Maharashtra is satisfied that circumstances exist which render it necessary to take immediate action further to amend the Maharashtra Value Added Tax Rules, 2005 and to dispense with the condition of previous publication thereof under the proviso to sub-section (4) of...

Import of gold on consignment basis by both nominated agencies and banks shall now be permissible only to meet the needs of exporters of gold jewellery

Posted: 03 Jun 2013 07:36 PM PDT

It has further been decided that all Letters of Credit (LC) to be opened by Nominated Banks / Agencies for import of gold under all categories will be only on 100 per cent cash margin basis. Further, all imports of gold will necessarily have to be on Documents against Payment (DP) basis....



No comments:

Post a Comment

UPDATES FROM TAXGURU