Circular No 7/2016 :Clarification regarding taxability of consortium members
Clarification regarding taxability of consortium members Circular No 7/2016
Monthly Archives: March 2016
Govt clarify taxability of consortium members
Clarification regarding taxability of consortium members Taxation of consortium of contractors formed to implement Engineering, Procurement and Construction (EPC) contracts/turn key projects has been a subject matter of dispute between Income-tax Department and the consortium. This has been particularly so in cases where each member of the consortium has a clear and district role in… Read More »
Mahila e-Haat :an online marketing platform for women launched
“Mahila e-Haat”, an online marketing platform for women launched by Smt Maneka Sanjay Gandhi Mahila e-Haat will provide access to markets to thousands of women who make products and are spread all over the country: WCD Minister In a path-breaking initiative, theMinister of Women and Child Development, Smt Maneka Sanjay Gandhi launched “Mahila e-Haat”, an… Read More »
Higher Secondary School certificate acceptable as age proof : Supreme Court
Issue whether the second respondent-Corporation was justified in rejecting the application of the appellant for allotment of retail outlet of petroleum/diesel dealership on the ground that the age proof submitted by her was not of the Secondary School as per the norms, but of a Higher Secondary School. Held NO The requirement of the Corporation… Read More »
casual workers are covered under ESI : Supreme Court
Issue whether casual workers are covered under definition of employee as defined in Section 2(9) of the Employees State Insurance Act, 1948 ? Held The definition of the term “employee” in section 2(9) is also wide enough to cover casual employees who are employed for part of wage period. A bare reading of the aforesaid… Read More »
National Voters’ Services Portal to facilities search voters’ name
Schedule for the General Elections to the Legislative Assemblies of Assam, Kerala, Tamil Nadu, West Bengal and Puducherry- Regarding. In continuation of Commission’s Press Note No. ECI/PN/16/2016 dated 4th March, 2016, it is informed that the Commission has provided on the National Voters’ Services Portal, first time the facilities to search the voters’ name in… Read More »
V.O. Chidambaranar Port sets Container handling record
V.O. Chidambaranar Port sets Container handling record V.O. Chidambaranar Port has achieved a momentous landmark in container handling by surpassing the previous financial year’s container traffic of 5,59,727 TEUs by handling 5,61,586 TEUs 25 days ahead of the close of the current financial. This year, upto 6th March 2016, the Port has maintained an impressive… Read More »
Budget : Frequently Asked Questions
Budget 1. What is Budget? Budget is an Annual financial statement of the estimated receipts and expenditure of the Government for the financial year. (1st April –31st March). It is presented by the Union Finance Minister in the parliament. Once passed by both the houses of parliament and approved by the President of India, the… Read More »
24×7 Real Time Monitoring of Pollution from Industries
24×7 Real Time Monitoring of Pollution from Industries “24×7 Real Time Monitoring of Pollution from various industries is a major revolution brought in by the NDA Government. Earlier method of physical sampling and lab testing was found to be inadequate as it could not capture pollution levels all 24 hours. With on-line monitoring the situation… Read More »
Section 14A Disallowance applies to Deductions also
Whether provision of section 14A is applicable even in respect of income which has been claimed as a deduction under Chapter VIA and more specifically under Section 80P(2)(d) of the Income Tax Act, 1961 Held Yes In Section 14A, the first phrase is “for the purposes of computing the total income under this Chapter” which… Read More »