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Tax Updates - TMI Newsletters
Home Newsletters Index Year 2018 February Day 6 - Tuesday
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TMI Updates - Newsletter dated: February 6, 2018

TMI SMS


Highlights

  1. Income Tax : Frequently Asked Questions (FAQs) regarding taxation of long-term capital gains proposed in Finance Bill, 2018-reg.

  2. Income Tax : Application of Dividend Distribution Tax to Deemed Dividend

  3. Income Tax : New scheme for scrutiny assessment

  4. Income Tax : Presumptive income u/s 44AE - heavy goods vehicle (more than 12MT gross vehicle weight) - Substantial increase in deemed income

  5. Income Tax : Aligning the scope of “business connection” with modified PE Rule as per Multilateral Instrument (MLI).

  6. Income Tax : TDS u/s 194C - payments made to developer by the co-operative society - activity of identifying suitable lands and forming a residential layout for allotment of residential sites to its members - No tds liability - - Tri

  7. Income Tax : Levy of fee u/s 234E - the related TDS statement was filed on 14th October, 2014, such a levy could only have been made at best within 15th October, 2015. That time has already elapsed and the defect is thus not curable even at this stage. - Tri

  8. Income Tax : Interest income Interest income on KVP, NSC and Savings Bank Account - accrual basis or receipt basis - The claim of the assessee that it is following receipt basis and hence cannot be taxed during the current year, is not accepted for the reason that, no method of accounting is followed by the assessee, who is only a salaried employee. - Tri

  9. Income Tax : Asassessee company registered u/s 25 of the Companies Act is carrying out its activities with specific aims and objects of imparting training in logistics, warehousing management and courier management for the benefit of the public at large being a public private partnership having affiliation of NSDC under the Ministry of Skill Development and Entrepreneurship as its vocational training partner and as such, is entitled to be registered u/s 12AA and consequent approval u/s 80G - Tri

  10. Customs : Import of base paper by availing DEEC exemption - the licence does not qualify the base paper with any particular colour. Hence the contention in the SCN that the noticee should have imported a particular colour of base paper only, does not appear to be legally sustainable - demand set aside - Tri

  11. Customs : Valuation of imported goods - the difference between the declared value and enhanced value is around 27% which could be ascribed not only on account of differences in the features between the two machines but also on account of the five months interregnum period between the two imports - demand set aside - Tri

  12. Customs : Classification of Brand water dispensers - The principal function of the goods is that of a dispenser of hot and cold water with an added feature of a mini refrigerator - the impugned items are required to be classified as water dispenser and not as a refrigerator - Tri

  13. Service Tax : Rent-a-cab operator service - There is no person involved as a recipient of a Rent-a-Cab service to whom the buses is handed over under a rent agreement - in this fact arrangement of providing the buses for a particular journey on KM basis does not fall under the category of Rent-a-Cab Operator Service. - Tri

  14. Service Tax : Business Auxiliary Service - failure to discharge service tax - appellant company is a registered under Section 25 of the Companies Act as a non-profit organization and therefore cannot be considered as commercial concern. - Tri

  15. Service Tax : Refund claim - Renting of Immovable Property Services - for residential / accommodation purpose or otherwise - the Scheduled Property is rented out for running of Hotel, Lodging House and allied/related activities. The Restaurant, Coffee Shop etc., are facilities attached to the business of renting of Hotel - refund not allowed - Tri

  16. Service Tax : Refund of penalty - there was no need to pay penalty - the said amount was suo moto deposited by the respondent while discharging the service tax and interest, which in my view, cannot be designated or termed as penalty. At best, it could be considered as an extra payment made - refund allowed - Tri

  17. Central Excise : Benefit of exemption - I.V. Fluids viz., Ofloxacin I.V. Infusion Revenue entertained a view that when the drugs manufactured by the respondents are administered intravenously, the same will not qualify for exemption as the said exemption is available only to I.V. Fluids used for Sugar, Electrolyte or Fluid replenishment - Contention of the revenue rejected - Benefit of N/N. 6/2002-CE allowed - Tri


Articles


Notifications


News - Feeds


Case Laws:

More information of case laws are visible to the Subscriber of a package i.e:-
Party Name, Court Name, Date of Decision, Full Text of Headnote, Decision etc.


  1. 2018 (2) TMI 247

    In: Customs


  2. 2018 (2) TMI 246

    In: Customs


  3. 2018 (2) TMI 248

    In: Customs


  4. 2018 (2) TMI 245

    In: Customs


  5. 2018 (2) TMI 244

    In: Customs


  6. 2018 (2) TMI 243

    In: Customs


  7. 2018 (2) TMI 242

    In: Customs


  8. 2018 (2) TMI 241

    In: Customs


  9. 2018 (2) TMI 240

    In: Customs


  10. 2018 (2) TMI 272

    In: Income Tax


  11. 2018 (2) TMI 271

    In: Income Tax


  12. 2018 (2) TMI 270

    In: Income Tax


  13. 2018 (2) TMI 269

    In: Income Tax


  14. 2018 (2) TMI 268

    In: Income Tax


  15. 2018 (2) TMI 267

    In: Income Tax


  16. 2018 (2) TMI 266

    In: Income Tax


  17. 2018 (2) TMI 265

    In: Income Tax


  18. 2018 (2) TMI 264

    In: Income Tax


  19. 2018 (2) TMI 263

    In: Income Tax


  20. 2018 (2) TMI 262

    In: Income Tax


  21. 2018 (2) TMI 261

    In: Income Tax


  22. 2018 (2) TMI 260

    In: Income Tax


  23. 2018 (2) TMI 259

    In: Income Tax


  24. 2018 (2) TMI 258

    In: Income Tax


  25. 2018 (2) TMI 257

    In: Income Tax


  26. 2018 (2) TMI 256

    In: Income Tax


  27. 2018 (2) TMI 255

    In: Income Tax


  28. 2018 (2) TMI 254

    In: Income Tax


  29. 2018 (2) TMI 253

    In: Income Tax


  30. 2018 (2) TMI 252

    In: Income Tax


  31. 2018 (2) TMI 251

    In: Income Tax


  32. 2018 (2) TMI 250

    In: Income Tax


  33. 2018 (2) TMI 249

    In: Income Tax


  34. 2018 (2) TMI 239

    In: PMLA


  35. 2018 (2) TMI 238

    In: Indian Laws


  36. 2018 (2) TMI 237

    In: Service Tax


  37. 2018 (2) TMI 236

    In: Service Tax


  38. 2018 (2) TMI 235

    In: Service Tax


  39. 2018 (2) TMI 234

    In: Service Tax


  40. 2018 (2) TMI 233

    In: Service Tax


  41. 2018 (2) TMI 232

    In: Service Tax


  42. 2018 (2) TMI 231

    In: Service Tax


  43. 2018 (2) TMI 230

    In: Service Tax


  44. 2018 (2) TMI 229

    In: Service Tax


  45. 2018 (2) TMI 228

    In: Service Tax


  46. 2018 (2) TMI 227

    In: Service Tax


  47. 2018 (2) TMI 226

    In: Service Tax


  48. 2018 (2) TMI 225

    In: Service Tax


  49. 2018 (2) TMI 224

    In: Service Tax


  50. 2018 (2) TMI 223

    In: Central Excise


  51. 2018 (2) TMI 221

    In: Central Excise


  52. 2018 (2) TMI 220

    In: Central Excise


  53. 2018 (2) TMI 219

    In: Central Excise


  54. 2018 (2) TMI 215

    In: Central Excise


  55. 2018 (2) TMI 214

    In: Central Excise


  56. 2018 (2) TMI 218

    In: Central Excise


  57. 2018 (2) TMI 217

    In: Central Excise


  58. 2018 (2) TMI 216

    In: Central Excise


  59. 2018 (2) TMI 213

    In: Central Excise


  60. 2018 (2) TMI 212

    In: Central Excise


  61. 2018 (2) TMI 222

    In: Central Excise


  62. 2018 (2) TMI 211

    In: Central Excise


  63. 2018 (2) TMI 210

    In: Central Excise


  64. 2018 (2) TMI 209

    In: Central Excise


  65. 2018 (2) TMI 208

    In: Central Excise


  66. 2018 (2) TMI 207

    In: Central Excise


  67. 2018 (2) TMI 206

    In: Central Excise


  68. 2018 (2) TMI 205

    In: Central Excise


  69. 2018 (2) TMI 204

    In: Central Excise


  70. 2018 (2) TMI 203

    In: Central Excise


  71. 2018 (2) TMI 202

    In: Central Excise


  72. 2018 (2) TMI 201

    In: Central Excise


  73. 2018 (2) TMI 200

    In: Central Excise


  74. 2018 (2) TMI 199

    In: VAT and Sales Tax


  75. 2018 (2) TMI 198

    In: VAT and Sales Tax


  76. 2018 (2) TMI 197

    In: VAT and Sales Tax


 
 
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