President of India presents Padma Awards The President of India, Shri Pranab Mukherjee presented Padma Vibhushan, Padma Bhushan and Padma Shri awards today (April 12, 2016) at a Civil Investiture Ceremony held at Rashtrapati Bhavan. Among the dignitaries present on the occasion were the Vice President of India, Prime Minister, Speaker Lok Sabha and Union… Read More »
Held In our opinion, the liberal interpretation of the term purchase as it appear in section 54 has to be given also to the term ‘constructs’ appearing therein, in conjunction to the former. Even the Hon’ble jurisdictional High Court in the case of CIT v.Smt B.S. Shanthakumari [2015] 233 taxmann.com 347/60 taxmann.com 74 (Kar.) held… Read More »
Case law on Karnataka Sales Tax Act, 1957 Facts of the Case In the sales tax return filed by the appellant, it sought exemption from payment of sales tax on the ground that as per the provisions contained in Entry 57 of Fifth Schedule to the Act, Wind Mills were exempted from payment of sales… Read More »
CLARIFICATION REGARDING EXCISABILITY OF RE-REFINED USED OIL OR WASTE OIL CIRCULAR NO.1024/12/2016-CX, DATED 11-4-2016 References have been received regarding excisability of re-refined used oil or waste oil. Various units are engaged in re-refining of waste oil or used lubricating oil collected from the transformers, service stations of vehicles etc. The matter has been examined. Process… Read More »
Real Estate (Regulation and Development) Act, 2016 received the assent of the President on 25th March 2016, which substantially amends the original Real Estate Bill, 2013. This act will apply from a date to be notified in official gazette. The Act largely seeks to protect the interest of the allottees/purchasers by promoting transparency, accountability and… Read More »
UIDAI cautions public against sharing of their Personal Information with unauthorized Agencies for Printing PVC (Plastic) Aadhaar Card The Unique Identification Authority of India (UIDAI) cautions people not to fall to ploys of some unscrupulous entities who are charging anywhere between Rs.50 to Rs.200 for printing Aadhaar on a plastic card in the name of… Read More »
HIGH COURT OF CALCUTTA Bar Association v. Union of India SANJIB BANERJEE, J. WP NO. 291 OF 2016 MARCH 31, 2016 R.N. Bajoria, Sr. Adv., S.K. Kapur, Sr. Adv., J.P. Khaitan, Sr. Adv., A. Chakraborti, Adv., P. Jhunjhunwala, Adv., A. Gupta, Adv., P.K. Jhunjhunwala, Adv., S.B. Saraf, Adv., T.M. Siddiqui, Adv., Koushik Chandra, Addl. Solicitor-General… Read More »
Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No. 5/2016 New Delhi, 6th of April, 2016 Subject: Electronic Verification Code (EVC) for electronically filed Form of Appeal to Commissioner (Appeals) In exercise of the powers conferred by sub-section (1) of section 249 read with section 295… Read More »
Whether the Limited Liability Partnership Act is applicable to any specific services like professional services regulated by Statutes? No.Any two or more persons associating for carrying on a lawful business with a view to profit may set up an LLP. In the light of various inputs received by this Ministry for applicability of the LLP… Read More »
Limited Liability Partnership Concept of limited liability partnership LLP is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. The LLP can continue its existence irrespective of changes in partners. It is capable of entering into contracts and holding property in its own… Read More »