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Income Tax - Highlights / Catch Notes

Home Highlights June 2012 Year 2012 This

Dis-allowance u/s 43B - entry tax, welfare cess, Provident fund, ...

Income Tax

June 3, 2012

Dis-allowance u/s 43B - entry tax, welfare cess, Provident fund, Interest to public institutions - expenditure dis-allowed for want of proof that taxes have been paid before filing the return - HC

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  2. Allowability of employer's contribution to funds for the welfare of employees in terms of section 43B(b) of the Income Tax Act - Circular

  3. Scope of the term Due Date - Payments made to the Provident Fund Authority on account of employees’ contribution disallowed - AO was required to take note of Section 43B(b) - HC

  4. Dis-allowance of amount transferred to Statutory Reserve and amount transferred to Reserve Fund while computing normal provisions and also while computing the book...

  5. Allowance of expenses on actual payment – provisions of section 43B are applicable on non-payment of interest on the delayed payment of due service tax - AT

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  7. Education Cess - Bidi cess is leviable u/s 3 of the “Beedi Workers Welfare Cess Act, 1976” - whether education and higher education cess can be computed on Bidi cess - Held No - AT

  8. Constitutional validity of the Cess Act - “Tax versus Fee“ - Building and Other Construction Workers Welfare Cess - The levy by the impugned Act is in effect a ‘fee’...

  9. Wharfage/port dues - whether in the nature of tax, duty, cess or fee u/s 43B – section 43B of the Act is not attracted in the case - AT

  10. Rates of interest on small savings schemes including Saving Deposits, Public Provident Fund, Kisan Vikas Patra and Sukanya Samriddhi Accounts Scheme

 

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