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100% penalty will be levied u/s 269SS of Income Tax Act if seller of immovable property has accepted Rs. 20,000 or more in cash from the buyer.
Even refund of excess self-assessment tax paid by assessee would be entitled to interest. [High Court of Punjab and Haryana - CIT vs. Punjab Chemical & Crop Protection Limited]
No provisional attachment of wife's property to recover VAT dues from her husband. Gujarat High Court.
Conversion of wheat into wheat products (maida, atta, suji and bran) using process such as cleaning, grinding, milling, etc. amounts to 'manufacture' and not liable to service tax under Business Auxiliary Services.
RBI has clarified under FEMA an Indian company receiving FDI does not require any prior approval of the RBI at any stage. It is only required to report.
Banks to stay closed on 2nd and 4th Saturday from July 2015 onwards.
For TDS and TCS- nine amendments shall be effective from 1st June 2015;
1. Requirement for obtaining evidence.
2. premature withdrawal from EPF.
3. 194 N - TDS from Recurring deposit.
4. Payments to transporters.
5. Obtaining TAN u/s 203A.
6. Processing of TCS returns.
7. Self-declaration for LIC payments.
8. Intt on bonds by FIIs–u/s 194LD.
9. Penalty u/s 195 and 271-I.
Even refund of excess self-assessment tax paid by assessee would be entitled to interest. [High Court of Punjab and Haryana - CIT vs. Punjab Chemical & Crop Protection Limited]
No provisional attachment of wife's property to recover VAT dues from her husband. Gujarat High Court.
Conversion of wheat into wheat products (maida, atta, suji and bran) using process such as cleaning, grinding, milling, etc. amounts to 'manufacture' and not liable to service tax under Business Auxiliary Services.
RBI has clarified under FEMA an Indian company receiving FDI does not require any prior approval of the RBI at any stage. It is only required to report.
Banks to stay closed on 2nd and 4th Saturday from July 2015 onwards.
For TDS and TCS- nine amendments shall be effective from 1st June 2015;
1. Requirement for obtaining evidence.
2. premature withdrawal from EPF.
3. 194 N - TDS from Recurring deposit.
4. Payments to transporters.
5. Obtaining TAN u/s 203A.
6. Processing of TCS returns.
7. Self-declaration for LIC payments.
8. Intt on bonds by FIIs–u/s 194LD.
9. Penalty u/s 195 and 271-I.