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Updates of the Day

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1. CBDT extends the last date of filing Income Tax Return in “Gujarat” 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 “Expression of Interest” 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 “Tax Audit” 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.

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