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Updates of the day !!!!!

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1. The advance amount received by the assessee towards transfer of development rights could not be treated as sale consideration. [CIT v/s. DLF Commercial Project Corporation, High Court of Delhi].
2. CBDT released java utility for e-filing Form 6 to declare black money. Taxpayers are requested to e-file Form 6 during the compliance window which ends on 30.09.2015.
3. Levy of VAT on sale of goods in an agreement to sale of flat, and further held that states are not empowered to levy VAT on transfer of immovable property. [Punjab and Haryana High Court in CHD Developers v/s. State of Haryana and Others].
4. Company holding a general meeting after giving a shorter notice u/s 101 of Companies Act, 2013 may also circulate financial statements (to be laid/considered in the same general meeting) at such shorter notice. General Circular No. I / /2015 dated 21.07.15.
5. The Delhi Government has directed all collector of stamps to collect the stamp duty through e-stamp only and verification shall be done by locking the e-stamp papers through user ID and passwords.
6. Multipurpose Empanelment Form (MEF) for the year 2015-16 has been made live at www.meficai.org. Last date for submission of online form is 31.08.2015 and hard copy is 15.09.2015.

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