Apr 302013
 

FINANCE BILL, 2013 passed by the Loksabha as on 30-4-2013 – Dated:- 30-4-2013 – THE MINISTER OF FINANCE (SHRI P. CHIDAMBARAM) Moving the motion for consideration of the Bill said: Post the Budget presentation and post the Finance Bill introduction, we had discussions with stakeholders, Members of Parliaments, State Governments, industry, business, trade unions and we have come up with a certain number of amendments. Some of the amendments are of vital interest to the Members of this House. Let m

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Apr 302013
 

Regulation of Foreign Online Companies Under Proposed Law – Dated:- 30-4-2013 – It had come to the notice of the Government that certain foreign entities are conducting online activities in India without actually getting themselves registered. Giving this information in written reply to a question in the Rajya Sabha, Shri Sachin Pilot, Minister of Corporate Affairs, said that in order to regulate online activities of foreign companies which are presently not required to file registration documen

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Apr 302013
 

Penal Action Against Fraudulent Companies – Dated:- 30-4-2013 – During last five years i.e. from 2008-09 to 2012-13 a total of 782 inspection reports in respect of companies were received in the Ministry of Corporate Affairs. Based on the findings in the inspection reports, penal actions have been taken against the companies and their directors/officers in default for violation of various provisions of the Companies Act, 1956. Giving this information in written reply to a question in the Rajya S

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Apr 302013
 

Curb on Fraudulent MLM Companies – Dated:- 30-4-2013 – Multi Level Marketing (MLM) Schemes involving enrollment of a vertical chain of investors/agents constitute Money Circulation and are banned under the Prize Chits & Money Circulation (Schemes)Banning Act, 1978 which is implemented by the States. Giving this information in written reply to a question in the Rajya Sabha, Shri Sachin Pilot, Minister of Corporate Affairs, said that in order to facilitate effective control of MLM, a Group of

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Apr 302013
 

Corporate Social Responsibility and the Existing Companies Law – Dated:- 30-4-2013 – There is no provision for Corporate Social Responsibility (CSR) spending by companies in the existing Companies law i.e. Companies Act, 1956. However, the Companies Bill, 2012 incorporates a provision of CSR under Clause 135. Giving this information in written reply to a question in the Rajya Sabha, Shri Sachin Pilot, Minister of Corporate Affairs, said that Clause 135 states that every company having net worth

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Apr 302013
 

delay filing of Exp-2 return – Service Tax – Started By: – kamal chordia – Dated:- 30-4-2013 Last Replied Date:- 4-10-2013 – Dear Sir As per Notification No. 18/2009 (service tax) if ny body want to take exemption of Feoreign Agent Comm then he should file EXP-2 half yearly basis. iIf thre is any delay in filing the EXp-2 then what penal provision will attarct. Awaiting reply. Regards Kamal – Reply By Pradeep Khatri – The Reply = Simpl

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Apr 302013
 

Central Excise – Dated:- 30-4-2013 – Merchant Overtime Tax Charges (MOT) – if services are rendered by the Customs Officer at a place which is not his normal

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Apr 302013
 

Central Excise – Dated:- 30-4-2013 – A ordinary citizen, in our view, under the ordinary course of circumstances cannot be expected to keep t

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Apr 302013
 

Service Tax – Dated:- 30-4-2013 – The activity of the appellant in construction of roads on BOT basis is not leviable to service tax either under commercial or industrial constr

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Apr 302013
 

Service Tax – Dated:- 30-4-2013 – Cenvat Credit – Appellant could be under bonafide belief to avail the Cenvat credit wh

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Apr 302013
 

Service Tax – Dated:- 30-4-2013 – Waiver of penalty u/s 80 – once the adjudicating authority has exercised his discretion for s

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Apr 302013
 

Customs – Dated:- 30-4-2013 – Imports of used digital multifunction and copying machine under the Foreign Trade Policy

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Apr 302013
 

Customs – Dated:- 30-4-2013 – Prior to budget 2012, benefit of customs duty exemption on road construction equipment was not available in

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Apr 302013
 

Income Tax – Dated:- 30-4-2013 – Commencmen of business – When the assessee in the present case was in a position to apply for the tender, borrowed money for interest albeit from its holding

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Apr 302013
 

Income Tax – Dated:- 30-4-2013 – Sale of paintings – excluded from the purview of personal effects and consequently included as one of the capital asset under Section 2

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Apr 302013
 

Income Tax – Dated:- 30-4-2013 – Reconstitution of partnership firm – one partner retired and two were continue – provision

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Apr 302013
 

Income Tax – Dated:- 30-4-2013 – The provision for warranty claims and free services charges were allowable as deduction on the facts tha

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Apr 302013
 

Income Tax – Dated:- 30-4-2013 – Levy of penalty u/s 271(1)(c) – no satisfaction as required by law has been recorded by

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