Income-tax Act, 1961-2018 Tax Rates 1. In case of an Individual (resident or non-resident) or HUF or Association of Person or Body of Individual or any other artificial juridical person Assessment Year 2018-19 […]
Amendment of rule 34 under the WBST Rules, 1995 Sales Tax (Settlement of Dispute) Act, 1999 Sales Tax (Settlement of Dispute) Rules, 1999 Value Added Tax Act Value Added Tax Rules Central […]
The Karta of a Hindu undivided family earned remuneration as a managing director and fees as a director from a bank
Syllabus: Wherever remuneration was earned by a member of the family for personal services rendered, the said remuneration would belong to and be assessable in the hands of the individual irrespective of […]
In State of U.P. and Another v. Kamla Palace, (2000) 1 SCC 557, this Court, while considering a fiscal statute in relation to Article 14 of the Constitution, has stated as under: […]
A Taxing Statute cannot be struck down merely on the ground that the imposition is heavy vide Jagannath and Others Vs. Union of India (UOI), . There are several Taxing Statutes which […]
Octrai duty is a tax levied on the entry of goods within a particular area.
The Federal Court had to consider the distinction between the duty of excise and a tax on sale in Province of Madras vs. B. Paidanna and Sons, 1942 F. C. R. 90. […]
What is the meaning to be ascribed to the expression “used for the purposes of the business” as found in Section 32 of the Income Tax Act, 1961. The provision of Section 32 pertains to depreciation. The contention of the Revenue is that with respect to any machinery for which depreciation is claimed u/s 32, the same cannot be allowed unless such machinery is used in the business and since discarded machinery is not used in the business, therefore, with respect to the discarded machinery no depreciation can be allowed.
KEYWORDS:- Taxable turnover in a works contract- DATE:- March 06, 2018- The KVAT Act 2003 did not provide a uniform rate of tax prior to 01.04.2006 on goods involved in the execution of works […]
1. Accounting Standards U/s 145(2) of IT Act 2. Authority for Advance Rul¬ings (Procedure) Rules, 1996 3. Authority for Advance Rulings (Procedure for Appointment as Chairman and Vice-Chairman) Rules, 2016 4. […]