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Latest Updates for Tax Violation Section 13 :-
Reporting by Auditors in respect of RBI circular on Deferred Tax Liability on Special Reserve. Announcement by Auditing & Assurance Standards Board of ICAI.
File Application for extension of date of AGM /Accounting Period by filing Form GNL-1. File Documents for companies under liquidation using GNL-2 [Circular 9 of 25-04-2014].
Violation under section 13(1) (d) does not attracts denial of exemption to trust, Only income from investment or deposit which has been made in violation of section 11(5) that is liable to be taxed and that violation under section 13(1)(d) does not attracts denial of exemption to trust [CIT Vs. Fr. Mullers Charitable Institutions (High Court of Karnataka)].
Service Tax paid after March 1, 2013 but before enactment of VCES on May 10, 2013 – Should be considered as paid under VCES [Gujarat High Court in the case of Sadguru Construction Co. vs. Union of India (2014-TIOL-630-HC-AHM-ST)].
Reporting by Auditors in respect of RBI circular on Deferred Tax Liability on Special Reserve. Announcement by Auditing & Assurance Standards Board of ICAI.
File Application for extension of date of AGM /Accounting Period by filing Form GNL-1. File Documents for companies under liquidation using GNL-2 [Circular 9 of 25-04-2014].
Violation under section 13(1) (d) does not attracts denial of exemption to trust, Only income from investment or deposit which has been made in violation of section 11(5) that is liable to be taxed and that violation under section 13(1)(d) does not attracts denial of exemption to trust [CIT Vs. Fr. Mullers Charitable Institutions (High Court of Karnataka)].
Service Tax paid after March 1, 2013 but before enactment of VCES on May 10, 2013 – Should be considered as paid under VCES [Gujarat High Court in the case of Sadguru Construction Co. vs. Union of India (2014-TIOL-630-HC-AHM-ST)].