Revised income computation and disclosure standards (ICDS): The Ministry of Finance issued a revised ICDS, as a new framework for computation of taxable income in relation to income under the headings “Profit and gains of business or profession” and “Income from other sources.” Application of the new ICDS has been deferred by one year, and… Read More »
11 October 2016 Jenny Wong analyses a recent Federal Court decision regarding Australia’s rights to tax payments to an Indian company in Australia. The Full Court handed down its decision for Tech Mahindra Limited v Commissioner of Taxation [2016] FCAFC 130 (22 September 2016). The case concerns the Australia and India Treaty and whether Australia… Read More »
Foreign stamp duty surcharge The Queensland Commissioner of State Revenue (the Commissioner) has recently released three Guidelines to assist taxpayers in determining when the new Additional Foreign Acquirer Duty (AFAD) rules under the Queensland Duties Act will apply. Under the rules, from 1 October 2016, an additional 3 percent stamp duty surcharge will apply to certain… Read More »
Health Care Tax Tip HCTT 2016-73 October 12, 2016 Filing Extension Deadline Almost Here Double Check ACA Information on Your Return If you received an extension of time to file your 2015 federal tax return, you have until Oct. 17 to double check your return and information on it that is related to… Read More »
GST Law & Analysis with Conceptual Procedures (October 2016) GST Law & Analysis with Conceptual Procedures contains detailed commentary on Model GST Law to encapsulate the provisions for easy digest BUY GST Law & Analysis with Conceptual Procedures (October 2016) KEY FEATURES OF THE BOOK ♦Detailed commentary on Model GST Law to encapsulate the provisions… Read More »
GST Registration and GST Return by New Taxable Person Read Compulsory Registration under GST ( India )- types Download GST -Draft Registration formats released by CBEC Download GST -Draft Registration Rules Released by CBEC Read also GST Return filing Process in India GST Registration:- Forms 26 Forms for Registration prescribed-26 Forms for Registration have been prescribed (Form GST… Read More »
The government’s in-principle approval for the advancement of the date of Budget presentation notwithstanding its other big-ticket reform move of rolling out the Goods and Services Tax (GST) regime by early next fiscal could prove to be a hurdle in the plan for an early presentation of the government’s annual statement of accounts. The possibility… Read More »
The industrialists who had set up units here from 2003 to 2010 are wary about the implementation of GST. Under the industrial package, the units that came up in Himachal during the period were exempted from Central Excise for 10 years. Many units that started production in 201 0 were exempt from Central Excise Tax… Read More »
Held we have no hesitation to hold that the impugned land was purchased with an intention to sell the same to the identified buyers to achieve commercial objectives outright. As noted earlier, section 2(13) of the Act seek to explain the term of ‘business’ by way of inclusive definition. As per section 2(13) expression ‘business’… Read More »
IRS Gives Tax Relief to Victims of Hurricane Matthew; Many Extension Filers in North Carolina Now Affected; Relief for Other States Expected Soon WASHINGTON –– North Carolina storm victims will have until March 15, 2017, to file certain individual and business tax returns and make certain tax payments, with similar relief expected soon for Hurricane… Read More »