{"id":2375,"date":"2016-04-13T12:32:41","date_gmt":"2016-04-13T07:02:41","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=2375"},"modified":"2021-12-20T16:14:08","modified_gmt":"2021-12-20T10:44:08","slug":"corporate-and-professional-update-april-7-2016","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-update-april-7-2016\/","title":{"rendered":"corporate and professional update april 7, 2016"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d007c758777\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d007c758777\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-april-7-2016\/#CORPORATE_AND_PROFESSIONAL_UPDATE_APRIL_7_2016\" title=\"CORPORATE AND PROFESSIONAL UPDATE APRIL 7, 2016\">CORPORATE AND PROFESSIONAL UPDATE APRIL 7, 2016<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-april-7-2016\/#DIRECT_TAX\" title=\"DIRECT TAX:\">DIRECT TAX:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-april-7-2016\/#INDIRECT_TAX\" title=\"INDIRECT TAX :\">INDIRECT TAX :<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-april-7-2016\/#KEY_DATES\" title=\"KEY DATES :\">KEY DATES :<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-april-7-2016\/#Top_Taxation_Relaxation_to_MSMS\" title=\"Top Taxation Relaxation to MSMS\">Top Taxation Relaxation to MSMS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-april-7-2016\/#Highlights_of_International_Taxation\" title=\"Highlights of International Taxation\">Highlights of International Taxation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-april-7-2016\/#i\" title=\"\u00a0\">\u00a0<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h3 style=\"text-align: justify;\"><\/h3>\n<p><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/04\/Untitled37A.png\" rel=\"attachment wp-att-2376\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-2376\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/04\/Untitled37A-300x165.png\" alt=\"Untitled37A\" width=\"900\" height=\"494\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/04\/Untitled37A-300x165.png 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/04\/Untitled37A.png 508w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"CORPORATE_AND_PROFESSIONAL_UPDATE_APRIL_7_2016\"><\/span><span style=\"color: #000080;\">CORPORATE AND PROFESSIONAL UPDATE APRIL 7, 2016<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"DIRECT_TAX\"><\/span><a href=\"https:\/\/www.caindelhiindia.com\/blog\/popular-faq-on-direct-indirect-tax-corporate-regulatory-matters\/\"><span style=\"color: #ff6600;\"><strong>DIRECT TAX:<\/strong><\/span><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #00ccff;\"><strong><a href=\"https:\/\/carajput.com\/income-tax-services.php\">Income Tax<\/a>:<\/strong><\/span>\u00a0Where action of assessee-company to make advances to group companies at a lower rate of interest than interest rate at which assessee-company borrowed such funds, was not shown to be in any manner actuated by business expediency, disallowance of differential interest was justified &#8211;\u00a0[2016] (Gujarat)<\/li>\n<li><span style=\"color: #00ccff;\"><strong><a href=\"https:\/\/carajput.com\/blog\/tag\/tds-us-194j-or-194c\/\">TDS u\/s 194J<\/a> &#8211;<\/strong> <\/span>Tribunal was justified in law in holding that the amounts paid to the doctors is not in the nature of salary and liable for deduction of tax at source as required under section 194J as Professional fees even when assessee engaged the doctors as consultants- (CIT TDS, BANGALORE AND ITO TDS, BANGALORE Versus M\/s TELERADIOLOGY SOLUTIONS PVT LTD\u00a0&#8211; 2016- KARNATAKA HIGH COURT)<\/li>\n<li><span style=\"color: #00ccff;\"><strong><a href=\"https:\/\/carajput.com\/income-tax-services.php\">Income Tax<\/a>:<\/strong><\/span>\u00a0Where assessee, a UK based company, entered into agreement with BCCI for capturing and delivering of live audio and visual coverage of cricket matches, since assessee&#8217;s did not retain ownership of program content, payment received for rendering aforesaid services was to be taxed as business profits and not as royalty &#8211;\u00a0[2016] (Mumbai &#8211; Trib.) CBDT releases e-filing vault: new facility to add higher security to e-filing accounts of taxpayers, press release dated 04-04-2016.<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"INDIRECT_TAX\"><\/span><span style=\"color: #ff6600;\"><strong>INDIRECT TAX :<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #00ccff;\"><strong><a href=\"https:\/\/carajput.com\/services-tax-registration.php\">Service Tax<\/a>:<\/strong><\/span>\u00a0Date of filing refund claim is first date of filing of refund claim; therefore, when claim was first filed on 7-1-2011 but was returned for re-submission and was finally re-submitted with relevant documents in November 2011, date of filing of refund claim would be 7-1-2011 &#8211;\u00a0[2016] (Chennai &#8211; CESTAT)<\/li>\n<li><span style=\"color: #00ccff;\"><strong>EXCISE :<\/strong><\/span> Where Appellate Tribunal directed assessee to approach Committee on Dispute (Cod) constituted under Supreme Court to raise its grievance but subsequently Apex Court set aside constitution of Cod as it was not at all functional, Tribunal, when approached by assessee again by filing application should have revisited matter and afforded opportunity to assessee to be heard on merit &#8211;\u00a0[2016] \u00a0(Rajasthan)<\/li>\n<li><span style=\"color: #00ccff;\"><strong><span style=\"color: #00ccff;\"><a style=\"color: #00ccff;\" href=\"https:\/\/carajput.com\/services-vat.php\">VAT<\/a> <\/span>and Sales :<\/strong><\/span> Where Assessing Authority passed reassessment order on assessee and subsequently taking view that reassessment order was prejudicial to interest of revenue, he issued on assessee a notice under section 41(1) proposing to rectify reassessment order, it was Revisional Authority, who was vested with such power to reopen proceedings &#8211;\u00a0[2016] (Karnataka<em>)<\/em><\/li>\n<\/ul>\n<h4 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"KEY_DATES\"><\/span><span style=\"color: #ff6600;\"><strong>KEY DATES :<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul style=\"text-align: justify;\">\n<li>Payment of <a href=\"https:\/\/carajput.com\/tds.php\">TDS<\/a> u\/s 194IA deducted on purchase of property\/TCS collected in March:\u00a007\/04\/2016<\/li>\n<li>Submission of Forms received in March to IT Commissioner:\u00a007\/04\/2016- Form No. 27C(TCS).<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>\u201cHappiness is a delicate balance between &#8220;what you want&#8221; and &#8220;what you have&#8221;. Its inner joy that can be &#8220;sought and caught&#8221;\u00a0but can never be &#8220;taught and\u00a0bought&#8221;<\/strong><\/p>\n<p style=\"text-align: justify;\">We look forward for your valuable comments.\u00a0<a href=\"https:\/\/carajput.com\">www.carajput.com<\/a><\/p>\n<p style=\"text-align: justify;\">The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.<\/p>\n<p style=\"text-align: justify;\">Hope the information will assist you in your Professional \u00a0 endeavors. For query or help, contact: \u00a0singh@carajput.com or call at <strong>\u00a09555555480<\/strong><\/p>\n<p>Popular blog:<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Top_Taxation_Relaxation_to_MSMS\"><\/span><a href=\"https:\/\/carajput.com\/blog\/relevant-parts-of-the-honorable-fm-press-conference\/\">Top Taxation Relaxation to MSMS<\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"Highlights_of_International_Taxation\"><\/span><a href=\"https:\/\/carajput.com\/blog\/international-taxation\/\">Highlights of International Taxation<\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"i\"><\/span><span style=\"font-size: 16px; font-weight: 400; text-align: start;\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p style=\"text-align: justify;\"><!--more--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CORPORATE AND PROFESSIONAL UPDATE APRIL 7, 2016 DIRECT TAX: Income Tax:\u00a0Where action of assessee-company to make advances to group companies at a lower rate of interest than interest rate at which assessee-company borrowed such funds, was not shown to be in any manner actuated by business expediency, disallowance of differential interest was justified &#8211;\u00a0[2016] (Gujarat) &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172,9,4,1],"tags":[4531,4530,4532,4036],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/2375"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=2375"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/2375\/revisions"}],"predecessor-version":[{"id":20264,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/2375\/revisions\/20264"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=2375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=2375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=2375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}