{"id":2381,"date":"2016-04-13T12:43:01","date_gmt":"2016-04-13T07:13:01","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=2381"},"modified":"2021-08-14T13:17:36","modified_gmt":"2021-08-14T07:47:36","slug":"corporate-and-professional-update-april-12-2016","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-update-april-12-2016\/","title":{"rendered":"CORPORATE AND PROFESSIONAL UPDATE APRIL 12, 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-69e177dc673da\" 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-69e177dc673da\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-april-12-2016\/#CORPORATE_AND_PROFESSIONAL_UPDATE_APRIL_12_2016\" title=\"CORPORATE AND PROFESSIONAL UPDATE APRIL 12, 2016\">CORPORATE AND PROFESSIONAL UPDATE APRIL 12, 2016<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-april-12-2016\/#DIRECT_TAX\" title=\"DIRECT TAX:\">DIRECT TAX:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-april-12-2016\/#INDIRECT_TAX\" title=\"INDIRECT TAX\">INDIRECT TAX<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-april-12-2016\/#KEY_DATES\" title=\"KEY DATES :\">KEY DATES :<\/a><\/li><\/ul><\/nav><\/div>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"CORPORATE_AND_PROFESSIONAL_UPDATE_APRIL_12_2016\"><\/span><span style=\"color: #000080;\">CORPORATE AND PROFESSIONAL UPDATE APRIL 12, 2016<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/04\/Untitled33.png\" rel=\"attachment wp-att-2382\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-2382\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/04\/Untitled33-300x123.png\" alt=\"Untitled33\" width=\"807\" height=\"331\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/04\/Untitled33-300x123.png 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/04\/Untitled33-768x314.png 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/04\/Untitled33.png 783w\" sizes=\"(max-width: 807px) 100vw, 807px\" \/><\/a><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"DIRECT_TAX\"><\/span><span style=\"color: #ff6600;\"><strong>DIRECT TAX:<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\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>\u00a0Exemption u\/s 54 on unregistered property purchased from son of the assessee allowed &#8211; transferee gets the right over the property and has become the owner of the property therefore for the purpose <a href=\"https:\/\/carajput.com\/blog\/tag\/deduction-us-54f\/\">of deduction U\/s 54<\/a> read with Section 2(47)(V) of the Act the property has been transferred to him \u2013\u00a0Rajesh Sharma Vs. ITO W- 2(4), Jaipur\u00a0(2016 \u00a0&#8211;\u00a0ITAT Jaipur)<\/li>\n<li><span style=\"color: #00ccff;\"><strong>Income Tax<\/strong><\/span>:\u00a0TDS u\/s 194C &#8211; No TDS on contractual payments of cutting and transporting of sugarcane from the fields to the factory gate as the payments were not given for carrying out the work of harvesting cutting and transporting on behalf of the assessee \u2013\u00a0Shree Chalthan Vibhag Khand Udyog Mandli Ltd<strong>. Vs. ITO, Surat (2015 <\/strong>\u00a0ITAT Ahmedabad<strong>)<\/strong><\/li>\n<li><span style=\"color: #00ccff;\"><strong><a href=\"https:\/\/carajput.com\/income-tax-services.php\">Income Tax<\/a>:<\/strong><\/span>\u00a0Procedure for registration and submission of statement as per clause (k) of sub section (1) of section 285BA of Income-tax Act, 1961 read with Sub rule (7) of Rule 114G of Income-tax Rules, 1962 &#8211; Notification<\/li>\n<\/ul>\n<p>Read our articles: \u00a0<a href=\"https:\/\/carajput.com\/blog\/relevant-parts-of-the-honorable-fm-press-conference\/\">Top Taxation Relaxation to MSMS<\/a><\/p>\n<p><a href=\"https:\/\/carajput.com\/blog\/international-taxation\/\">Highlights of International Taxation<\/a><\/p>\n<h2 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><\/h2>\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>\u00a0Refund of Service Tax &#8211; Goods exported under claim of drawback &#8211; While fixing all industry rate of drawback the average duties and service tax paid in respect of inputs and input services are taken into account and the condition of Notification No. 41\/2007 &#8211; ST has to be strictly construed &#8211; Refund inadmissible -M\/s Sankalp International\u00a0<strong> CCE, Jaipur-1 (2016 <\/strong>CESTAT New Delhi<strong>)<\/strong><\/li>\n<li><span style=\"color: #00ccff;\"><strong>EXCISE :<\/strong><\/span> As long as an assessee had manufactured goods, mere fact that he used trade or brand name of another individual, would not disentitle him from exemption &#8211;\u00a0[2016]<\/li>\n<\/ul>\n<h2 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><\/h2>\n<ul style=\"text-align: justify;\">\n<li>Advance information for 2nd\u00a0fortnight of APR of functions with booking cost&gt; Rs. 1 Lakh in Banquet, Hotels, Hotels etc. for <a href=\"https:\/\/carajput.com\/services-vat.php\">D VAT<\/a> in Delhi:\u00a012\/04\/2016<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>\u201cThose who dream by day are cognizant of many things which escape those who dream only by night.\u201d<\/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 ;Hope the information will assist you in your Professional \u00a0 endeavors. For query or help, contact: \u00a0singh@carajput.com\u00a0or call at <strong>\u00a09555555480<\/strong><!--more--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CORPORATE AND PROFESSIONAL UPDATE APRIL 12, 2016 DIRECT TAX: Income Tax:\u00a0Exemption u\/s 54 on unregistered property purchased from son of the assessee allowed &#8211; transferee gets the right over the property and has become the owner of the property therefore for the purpose of deduction U\/s 54 read with Section 2(47)(V) of the Act the &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":[4518,4520,2499,4522,4521],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/2381"}],"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=2381"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/2381\/revisions"}],"predecessor-version":[{"id":15755,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/2381\/revisions\/15755"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=2381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=2381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=2381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}