Earlier Posts

Retrospective breather needed for EOUs in Gujarat

November 26, 2013
Export-oriented units (EOUs) in Gujarat have a new problem. The development commissioner (DC), Kandla, has asked the units to return the Central Sales Tax (CST) refunded to them, on the basis of objections raised by the Central Revenue Audit (CRA) team from Ahmedabad. According to para 6.11 (c) (i) of
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The tax implications for NRIs buying property in India

August 10, 2013
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The falling rupee and the lull in the property market in many cities are attracting Indians settled abroad to consider property investments in India. Non-resident Indians are allowed to purchase residential or commercial property in India but not agricultural land / plantation property / farm house, says Amarpal S. Chadha,
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CBDT Norms for Selection of Scrutiny Cases in FY 2013-14

August 6, 2013
CBDT has issued Instruction No.10/2013 dtd. 05-Aug-2013 announcing the selection norms for mandatory scrutiny of cases.  The following cases will be covered under compulsory scrutiny: (a) Cases where value of international transaction as defined u/s 92B of IT Act exceeds Rs. 15 crores. (b) Cases involving addition in an earlier
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Income Tax Return due date extended to 5-Aug

July 31, 2013
The CBDT has issued a Press Release stating that the due date for filing of returns u/s 139(1) of the Income-tax Act, 1961 is extended to August 5, 2013 PRESS INFORMATION BUREAU GOVERNMENT OF INDIA AS A MEASURE OF TAXPAYERS CONVENIENCE, LAST DATE OF FILING OF RETURNS EXTENDED TO 5TH
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Service tax: Restaurants & Hotels see a ray of hope

July 23, 2013
[By Shaleen Shah (Partner), VNCA] The Kerala High Court recently declared the imposition of service tax by the Centre on supply of food and beverages by restaurants and services of lodging provided by hotels as "unconstitutional". A single bench of Justice AM Shafique passed the order while allowing a batch
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