11th November 2009
Devendra Jain
In a vastly populated developing nation, the parallel role of NGOs in public welfare is indispensable. The Income-tax Act, 1961 has recognized the importance of the very concept of ‘charity’ in the Indian society. The income derived b...
29th October 2009
R Balakrishnan
Whenever the foreign exchange is acquired and remitted, the proof of import by way of exchange control copy of bill of entry needs to be submitted to the authorised dealer. Non-submission of the proof of imports would invite action again...
02nd October 2009
Kameswara Rao Challa
Budget 2009 has taken a new initiative by introducing the concept of allowing deduction under income-tax for investment made in a new business ‘based on investment’ and ‘not based on profit earned’. It has inserted section ...
28th September 2009
D.P. Mittal, Advocate
The Finance (No.2) Act, 2009, amended the definitions of the expressions firm and partner of the Income-tax Act, 1961, to include a Limited Liability Partnership (LLP) and its partners, respectively, as defined in the Limited Liab...
24th September 2009
D.P. Mittal, Advocate
The Finance (No.2) Act, 2009, amended the definitions of the expressions firm and partner of the Income-tax Act, 1961, to include a Limited Liability Partnership (LLP) and its partners, respectively, as defined in the Limited Liab...
24th September 2009
D.P. Mittal, Advocate
The Finance (No.2) Act, 2009, amended the definitions of the expressions firm and partner of the Income-tax Act, 1961, to include a Limited Liability Partnership (LLP) and its partners, respectively, as defined in the Limited Liab...
08th September 2009
M. Govindarajan
Whenever a service is brought into the service tax net, the service provider is liable to levy service tax on the service provided by him and to pay the service tax so collected from the service receivers. The Service Tax Rules make it ...
27th August 2009
M. Govindarajan
Service tax issue is the emerging one in the indirect tax matters. It opens the field to the professionals more to practice. In the proceedings before any quasi-judicial system, the principles of Natural Justice are to be complied with....
02nd July 2009
Sukumar Mukhopadhyay Member Cbec (Retd.)
1. A very recent judgment of the Delhi High Court holding that renting of immovable property is not a service has created interest among taxpayers, analysts and economists. Both conceptually and legally, there a...
18th June 2009
K. Kumar
1. It has been emphasized time and again by the Highest Court of the country that Judicial discipline demands that a Bench of the High Court must follow the decision of an earlier Bench of equal jurisdiction of the same High Court. The Bench may...
18th June 2009
K. Kumar
1. It has been emphasized time and again by the Highest Court of the country that Judicial discipline demands that a Bench of the High Court must follow the decision of an earlier Bench of equal jurisdiction of the same High Court. The Bench may...
07th June 2009
Amit M. Sachdeva -Sachin Sachdeva
A limited liability partnership—which is a form of business organisation in which the liability of the ‘partners’ is limited to the extent of their interest in the partnership, owing to its company-type separate ...
07th June 2009
Amit M. Sachdeva -Sachin Sachdeva
A limited liability partnership—which is a form of business organisation in which the liability of the ‘partners’ is limited to the extent of their interest in the partnership, owing to its company-type separate ...
04th June 2009
K. R. Sampath
1. Recent judgments of the Mumbai High Court in the case of Vodafone International Holdings B.V. v. Union of India [2008] 175 Taxman 399 and of the Supreme Court in CIT v. Eli Lilly & Co (India) (P.) Ltd. [2009] 178 Taxman 505 (SC), have ...
04th June 2009
M. Govindarajan
1. Section 68 of the Finance Act, 1994 provides that the every person providing taxable service to any person shall pay service tax at the rate specified in section 66 of the Act in such manner and within such period as may be prescribe...
