Skip to main content

Updates of the Day

1. CBDT extends the last date of filing Income Tax Return in ā€œGujaratā€ only. Earlier the last date was 31st August, now 7 September 2015.

2. Sum received for permitting installation of Telecom Tower on terrace is taxable as income from house property- [Niagara Hotels & Builders (P.) Ltd.[2015] 60 taxmann.com 83 (Delhi)]

3. For computing income u/s 80I or 80 IA only losses and deductions of eligible business has to be considered from initial A.Y.- [CIT vs K Rajinikanth (Madras High Court)]

4. Date for filing DP-1 under DVAT has been extended till 30-09-2015.

5. Stock transfers out of purchases made from other states or imports, no reversal of input tax credit is required to be made. Appellate tribunal, vat in the case of M/s Thermoking holding.

6. MCA has released the Companies (Management and Administration) Amendment Rules, 2015. Form No. MGT-7 has been substituted and the new Form MGT-7 has been published therein in the said notification.

7. Service tax deptt invited ā€œExpression of Interestā€ from practicing CA/ CMA for empanelment for audit. Last date to apply 02.09.2015 to the Office of the Commissioner of Service Tax, Audit-I, 17-B, IAEA House, M.G. Marg, I.P. Estate, New Delhi-110002.

8. NIRC is organising educational overseas tour to Hongkong, Macau and Shenzen (China) from 16 -22 Jan 2016. Fees Rs.80, 000/- Per Participant. For details contact Mr. Anil D Lal Ph: 9891044010: anil.dlal@icai.in

9. NIRC jointly with North Campus Study Circle is organising a seminar on ā€œTax Auditā€ today on 01-09-2015 (5pm to 10pm) at Art of Curry, Netaji Subhash Place, Pitampura, New Delhi.

10. Seminar on Transfer Pricing Today 01-09-2015 at 3.30-7 PM at Hindi Bhawan, near ITO, New Delhi, complementary book on transfer pricing by CA Avinash Gupta will be given. Fee Rs. 200 only.

Comments

Popular posts from this blog

Budget: Startup sector gets new Fund of Funds, FM to allocate Rs 10K cr

  The Indian startup sector received a boost with Finance Minister Nirmala Sitharaman announcing the establishment of a new fund of funds (FoF) in the Budget 2025. The minister unveiled a fresh FoF with an expanded scope, allocating Rs 10,000 crore. The initial fund of funds announced by the government with an investment of Rs 10,000 crore successfully catalysed commitments worth Rs 91,000 crore, the minister said.   ā€œThe renewal of the Rs 10,000 crore commitment to the Fund of Funds for alternative investment funds (AIFs) is a significant step forward for the Indian startup and investment ecosystem. The initial Rs 10,000 crore commitment catalysed Rs 91,000 crore in investments, and I fully expect this fresh infusion to attract an additional Rs 1 lakh to Rs 1.5 lakh crore in capital,ā€ said Anirudh Damani, managing partner, Artha Venture Funds.   Damani further added that this initiative will provide much-needed growth capital to early-stage startups, further strengthenin...

GST collection for November rises by 8.5% to Rs.1.82 trillion

  New Delhi: Driven by festive demand, the Goods and Services Tax (GST) collections for the Union and state governments climbed to Rs.1.82 trillion in November, marking an 8.5% year-on-year growth, according to official data released on Sunday. Sequentially, however, the latest collection figures are lower than the Rs.1.87 trillion reported in October, which was the second highest reported so far since the new indirect tax regime was introduced in 2017. The highest-ever GST collection of Rs.2.1 trillion was reported in April. The consumption tax figures highlight the positive impact of the recent festive season on goods purchases, providing a much-needed boost the industry had been anticipating. The uptick in GST collections driven by festive demand had been anticipated by policymakers, who remain optimistic about sustained growth in rural consumption and an improvement in urban demand. The Ministry of Finance, in its latest monthly economic review released last week, stated that I...