Corporate Law Reporter - The Daily Journal

Issue of taxability of surplus on sale of shares and securities – Capital Gains or Business Income – Instructions in order to reduce litigation

Sub-section (14) of Section 2 of the Income - tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business of profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. To view the complete notification,… Read More

Dedicated structure for delivery and monitoring of Tax Payer Services in the Income Tax Department

The Competent Authority has accorded approval for setting up a Dedicated structure for delivery and monitoring of Tax Payer Services in the Central Board of Direct Taxes (CBDT) and its attached and subordinate offices, with immediate effect and until further orders. To Download complete notification, please click on the link below: Dedicated structure for delivery… Read More

Clarification about changes made in the Tax Treatment for Recognised Provident Fund & NPS

Press Note Clarification about changes made in the Tax Treatment for Recognised Provident Fund & NPS There seems to be some amount of lack of understanding about the changes made in the Budget on the subject mentioned above. The following clarifications are given in this matter:- (i) The purpose of this reform of making the… Read More

CBEC seeks to amend Point of Taxation Rules, 2011 so as to insert clarificatory Explanations

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No. 10/2016-Service Tax, New Delhi, the 1st March, 2016 G.S.R.---(E).- In exercise of the powers conferred by clause (a) and clause (hhh) of subsection (2) of section 94 of the… Read More

CBEC seeks to amend notification No. 25/2012-Service Tax, dated 20th June 2012, so as to amend certain existing entries granting exemption on specified services and inserting new entries for granting exemption from service tax on specified services

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No.9/2016-Service Tax, New Delhi, the 1st March, 2016 G.S.R.….(E).-In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central… Read More

CBEC seeks to exempt services in relation to Information Technology Software recorded on a media bearing RSP, provided Central Excise Duty has been paid

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No. 11/2016- Service Tax New Delhi, the 1 st March, 2016 G.S.R.---(E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32… Read More

Amendment in Service Tax Rules, 1994

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No.19/2016-Service Tax New Delhi, the 1st March, 2016 G.S.R.____(E).-In exercise of the powers conferred by sub-section (1) read with subsection (2) of section 94 of the Finance Act, 1994 (32… Read More

CBEC amendment in notification No. 30/2012-Service Tax dated 20th June, 2012, so as to prescribe, the extent of service tax payable by the service provider and any other person liable for paying service tax other than the service provider

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No.18/2016-Service Tax New Delhi, the 1st March, 2016 G.S.R.____(E).-In exercise of the powers conferred by sub-section (2) of section 68 of the Finance Act, 1994 (32 of 1994), the Central… Read More

Seeks to bring into effect certain provisions of notification No. 05/2015-ST dated 1st March, 2015

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No.17/2016-Service Tax New Delhi, the 1st March, 2016 G.S.R.__(E).In exercise of the powers conferred by sub-section (1) read with subsection (2) of section 94 of the Finance Act, 1994 (32… Read More

Seeks to bring into effect certain provisions of notification No. 07/2015-ST dated 1st March, 2015

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No.16/2016-Service Tax New Delhi, the 1st March, 2016 G.S.R.___(E).In exercise of the powers conferred by sub-section (2) of section 68 of the Finance Act, 1994 (32 of 1994), the Central… Read More

Not for Profit Organizations: What The Companies Act, 2013 says

“With any new business deal, don’t think about how much you can afford to get—think about how much you can afford to give. A spirit of giving will allow you to get.” ― Jarod Kintz Not for profit organizations or as we simply say NPO, are those organizations which are established for promoting a cause, it… Read More

Seeks to prescribe interest rate under section 75 of the Finance Act, 1994

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No. 13/2016-Service Tax New Delhi, the 1st March, 2016 G.S.R.___ (E).- In exercise of the powers conferred by section 75 of the Finance Act, 1994 (32 of 1994) and in… Read More

Seeks to prescribe interest rate under section 73B of the Finance Act, 1994

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No. 14/2016-Service Tax New Delhi, the 1st March, 2016 G.S.R.___ (E).- In exercise of the powers conferred by section 73B of the Finance Act, 1994 (32 of 1994), the Central… Read More