PUBLIC PROVIDENT FUND PPF will earn 8.7 per cent, 25 basis points above the average benchmark yield in the previous fiscal year. Just make sure you invest the minimum Rs 500 in your PPF account in a year, otherwise you will be slapped with a nominal, but irksome, penalty of Rs 50. Though the PPF… Read More »
NOTIFICATION F.NO.16/1/2015-PR- ATAL PENSION YOJANA, DATED 16-10-2015 Background 1. The Government of India has introduced a pension scheme called the Atal Pension Yojana (APY), with effect from 1st June, 2015, pursuant to the announcement in the budget for 2015-16 on creating a universal social security system for all Indians, especially the poor, the under-privileged and… Read More »
Section 2(22) of the Income-tax Act, 1961 Subject : Deemed dividend (Loans and advances to shareholders) Assessment year 2009-10 Facts of the Case :- Assessee had taken loans and advances from a company in which he was holding 60 per cent shares – Company possessed accumulated profits in excess of amount that was paid to… Read More »
SUPREME COURT OF INDIA Commissioner of Central Excise, Noida v. Control & Switchgears Contactors Ltd. A.K. SIKRI AND ROHINTON FALI NARIMAN, JJ. CIVIL APPEAL NOS. 4449-4450 OF 2005 AND 984 OF 2007 SEPTEMBER 1, 2015 Valuation under Central Excise – Retail Sale Price/MRP Based Facts of the case ;- Assessee was manufacturing Contactors, Overload relays,… Read More »
Power of Assessing Officer under section 220(6) cannot be said to be power to grant stay against recovery of disputed demand and or mere filing of appeal does not suo-moto stay recovery proceedings HIGH COURT OF ALLAHABAD Jalan Jee Polytex Ltd. v. Assistant Commissioner of Income-tax V.K. SHUKLA AND PRATYUSH KUMAR, JJ. WRIT TAX NO.… Read More »
How trading takes place and what is the process of trading? The normal course of online trading in the Indian market context is placed below: Step 1. Investor / trader decides to trade Step 2. Places order with a broker to buy / sell the required quantity of respective securities Step 3. Best priced order… Read More »
Facts of the Case :- In this case, the plastic toys imported by M/s Lukkad Impex from China were absolutely confiscated by the adjudicating authority as the goods/packaging materials did not contain any details of manufacturer’s name, address and the period of manufacture, and hence the test reports could not be linked with the consignment… Read More »