Monthly Archives: October 2016

Products generated out of ship breaking is not Scrap, Not liable for TCS u/s 206C

By | October 9, 2016

Held A perusal of the paragraph-6 of the above judgment, would indicate that certain items generated out of ship breaking activity might be known commercially as “scrap” but they are not waste and scrap. These items are re-usable as such, and therefore, would not fall within the definition of “scrap” as envisaged in the Explanation… Read More »

Penalty for sec. 269SS violation couldn’t imposed after six months of limitation period

By | October 9, 2016

Provisions of Section 271-D and 271-E of the Income Tax Act were invoked after six months of limitation and, therefore, such penalty could not have been imposed SUPREME COURT OF INDIA Commissioner of Income-tax, Bikaner v. Hissaria Brothers, Hanumangarh Jn. A.K. SIKRI AND ROHINTON FALI NARIMAN, JJ. CIVIL APPEAL NO. 5254 OF 2008 AUGUST  22,… Read More »

Ban on circulation of trading tips via social media – Key Points of SEBI Paper

By | October 9, 2016

Ban on circulation of trading tips via social media The SEBI has issued consultation paper( C larifications to the SEBI (Investment Advisers) Regulations, 2013 ) proposing amendments or clarifications to the investment adviser regulations. The objective of the consultation paper is to specify uniform standards across all the intermediaries/persons engaged in providing investment advisory services irrespective of whether… Read More »

MEF 2016-17 – PART B and PART C is live now

By | October 9, 2016

Dear Professional Colleagues, Season’s Greetings, Sub: PART B and PART C of MEF 2016-17 has been made live till 31st October, 2016 to enable the applicants to fill/edit the same. As you are aware, MEF 2016-17 has been divided into three parts: Part A: For Bank Branch Auditors’ Panel Part B: For Additional information for… Read More »

Registration requirements under GST

By | October 9, 2016

Registration requirements under GST Turnover for GST Registration of New taxable person :– Every supplier shall be liable to be registered under GST in the State from where he makes a taxable supply of goods and/or services if his aggregate turnover in a financial year exceeds Rs 20 lakhs. (as per GST Council decision). However, if supplier is engaged in business… Read More »

Download Tax Return Preparer Form under GST – GST TRP 1 to GST TRP 7

By | October 8, 2016

Download Tax Return Preparer Form under GST Download GST TRP Form GST TRP 1, GST TRP 1A GST TRP 2, GST TRP 3, GST TRP 4, GST TRP 5, GST TRP 6, GST TRP 7 Sr No Form No Purpose 1 GST TRP 1 Application for Enrolment as Tax Return Preparer under GST 2 GST TRP 1A… Read More »