Rules of natural justice are important part of fundamental rights as enshirined in our constitution. Rules of natural justice means fair play in action i.e. to save the citizens from arbitrariness in administrative or quasi judicial action. Rules of ..
The VAT Department in Punjab has started issuing the notices for assessements for the year 2005-2006 under section 29 of Punjab Value Added Tax Act 2005 to the dealers across the state. The notices u/s 29 of PVAT Act 2005 can be issued within 3 year ..
Given the complexity involved in conceptualising and implementing the Goods and Services Tax (GST), it is becoming clearer by the day that the scheme cannot be introduced by April 1, 2010, as originally proposed. An overwhelming majority of States ha ..
Section 54F of the Income-tax Act, 1961 - Capital gains - Exemption of, in case of investment in residential house - Assessment year 1986-87 - Whether section 54F emphasizes construction of residential house and such construction must be real one and ..
State of Punjab and Another vs Kalsi Pipes Private Limited [PUNJAB AND HARYANA HIGH COURT, 23 Nov 2009]New Model Industries Private Limited vs State of Punjab and Another [PUNJAB AND HARYANA HIGH COURT, 11 Nov 2009]Sales Tax - VAT - Punjab General Sa ..
1. Definitions – Manufacture – Clause 3 – S 2 (29BA):- Clause 3 of the Finance Bill 2009 has sought to introduce sub section 29BA in section 2 of the Income Tax Act wherein the manufacture is defined for the first time The amendment ..
One should not keep any unaccounted or undisclosed money, property or income popularly known as black money. If such a disclosure is made before its detection by the Income Tax Department, the chances of being trapped in a tax raid are minimized. A t ..
The Maharashtra Value Added Tax Act, 2002 (MVAT Act, 2002) is in force from 01.04.2005. One of the features of this Act is that specified dealers are required to submit Audit Report as obtained from Auditor i.e. either Chartered Accountant ..
Frequently Asked Questions and Answers on GSTQuestion 1 : What is the justification of GST ? Answer : There was a burden of "tax on tax" in the pre-existing Central excise duty of the Government of India and sales tax system of the State Go ..
INPUT SERVICE Rule 2 (1) “Input Service” Input Service means any service(i) used by a provider of taxable service for providing an output service(ii) used by manufacturer, whether directly or indirectly, in ..
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