In order to improve standards of professions, the Central Government has planned to appoint regulators for the Institute of Chartered Accountants of India (ICAI), Institute of Company Secretaries of India, Medical Council of India (MCI) and other professional bodies. Key points of this development are as follows: 1. The Ministry of Commerce is working… Read More »
Services rendered in India: The Chennai Bench of the Income-tax Appellate Tribunal held that a taxpayer—providing satellite capacity and related services to Indian customers by means of communication system monitoring equipment owned by a related party in India—was rendering services in India. The case is: Intelsat Global Sales and Marketing Ltd. Read a July 2016 report [PDF 311… Read More »
Corporate social responsibility expenditure is business expenditure The Raipur Bench of the Income-tax Appellate Tribunal held that the voluntary nature of corporate social responsibility payments are expenditures that are allowable as a business expenditure. The case is:Jindal Power Limited. Read a July 2016 report [PDF 323 KB]
Retention bonus as business expenditure The Delhi Bench of the Income-tax Appellate Tribunal held that a retention bonus paid by the taxpayer to retain employees of a transferred company were allowable as a business expenditure of the taxpayer. The case is: SAIC India Private Ltd. Read a July 2016 report [PDF 282 KB]
“Slot charter” arrangements eligible for tonnage tax treatment The Supreme Court of India held that benefits under the tonnage tax scheme is also available to the income from the “slot charter” arrangements. The case is: Trans Asian Shipping Services (P) Ltd. Read a July 2016 report[PDF 321 KB]
No tax for cancelled trademar The Hyderabad Bench of the Income-tax Appellate Tribunal held that a payment received by the taxpayer for restraining the use of the trademark that was cancelled and no longer available for use (it had ceased to exist is a capital receipt) was not subject to tax. The case is: Orient Blackswan Private… Read More »
Guide To Tax Audit 2015 Edn (ENGLISH) (Paperback) BUY Specifications of Guide To Tax Audit 2015 Edn (ENGLISH) (Paperback) BOOK DETAILS Publisher Taxman ISBN-10 9350716585 Edition 0 Number of Pages 812 Pages Publication Year 2015 Language ENGLISH ISBN-13 9789350716588 Binding Paperback CONTRIBUTORS Authored By Ca Srinivasan Anand
The Reserve Bank of India has announced an Art Competition with an objective to identify, recognise and encourage talented budding artists in visual art. Anyone who is a citizen of India and is currently a student of a professional art college can participate in the competition. The Reserve Bank would buy the selected works at… Read More »
Sovereign Gold Bond 2016-17 – Series I: Issue Price Date : Jul 15, 2016 In terms of GoI notification F.No.4(7)-W&M/2016 and RBI circular IDMD.CDD.No.2020/14.04.050/2016-17 dated July 14, 2016, Series I of the Sovereign Gold Bond 2016-17 will be open for subscription from July 18 to 22, 2016. The issue price of the Sovereign Gold Bond… Read More »
Combined Medical Services Examination, 2016 On the basis of result of the written part of the Combined Medical Services Examination, 2016 held by the Union Public Service Commission in June, 2016, the candidates with the under mentioned Roll Numbers have qualified for Interview/Personality Test:- The candidature of these candidates is PROVISIONAL subject to their being… Read More »