{"id":515,"date":"2015-11-02T09:21:03","date_gmt":"2015-11-02T09:21:03","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=515"},"modified":"2021-08-16T13:51:45","modified_gmt":"2021-08-16T08:21:45","slug":"corporate-tax-update-for-the-month-of-november-2","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-tax-update-for-the-month-of-november-2\/","title":{"rendered":"CORPORATE TAX UPDATE FOR 22Th OCTOBER 2015"},"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-69d8b6086b4e5\" 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-69d8b6086b4e5\"  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-tax-update-for-the-month-of-november-2\/#CORPORATE_TAX_UPDATE_FOR_22th_OCTOBER_2015\" title=\"CORPORATE TAX UPDATE FOR 22th OCTOBER 2015\">CORPORATE TAX UPDATE FOR 22th OCTOBER 2015<\/a><\/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-tax-update-for-the-month-of-november-2\/#FAQ_on_Company_Law\" title=\"FAQ on Company Law:\">FAQ on Company Law:<\/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-tax-update-for-the-month-of-november-2\/#Indirect_Taxes\" title=\"Indirect Taxes:\">Indirect Taxes:<\/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-tax-update-for-the-month-of-november-2\/#Direct_taxes\" title=\"Direct taxes:\">Direct taxes:<\/a><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"CORPORATE_TAX_UPDATE_FOR_22th_OCTOBER_2015\"><\/span><span style=\"color: #003366;\"><strong>CORPORATE TAX UPDATE FOR 22th OCTOBER 2015<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"FAQ_on_Company_Law\"><\/span><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/11\/Untitled22A-1.png\" rel=\"attachment wp-att-1732\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-1732\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/11\/Untitled22A-1-300x151.png\" alt=\"Untitled22A\" width=\"679\" height=\"342\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/11\/Untitled22A-1-300x151.png 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/11\/Untitled22A-1.png 475w\" sizes=\"(max-width: 679px) 100vw, 679px\" \/><\/a><span style=\"color: #800080;\"><strong><span style=\"text-decoration: underline;\">FAQ on Company Law:<\/span><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"color: #3366ff;\"><strong>Query:\u00a0<\/strong>&#8211;\u00a0<\/span>Our query is whether we can file Annual filing forms with the ROC annexing Financial statements (Balance sheet &amp; Statement of Profit &amp; Loss Account) with (Sd\/-)\u00a0\u00a0as signature of directors. Please guide.<\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #800080;\"><span style=\"color: #3366ff;\">Answer:<\/span>\u00a0<\/span><\/strong>No, duly stamped &amp; signed Financial Statements by the directors of Company (including Auditor\u2019s Report, Board Report with all annexures) is required to be attached with the ROC forms.<\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Indirect_Taxes\"><\/span><span style=\"color: #800080;\"><strong><span style=\"text-decoration: underline;\">Indirect Taxes:<\/span><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">Claim of refund\u00a0&#8211; deemed fiction of duty paid under protest &#8211; period of limitation &#8211; Tribunal&#8217;s order would be applicable only\u00a0to the period involved in those appeals and cannot be held to be applicable for the entire period in question. Inasmuch as neither any protest was lodged nor the Tribunal&#8217;s order covers the period in question.-\u00a0<strong><span style=\"color: #3366ff;\">(Bharat Heavy Electricals Ltd. Versus Commissioner of Central <a href=\"https:\/\/carajput.com\/services-excise-registration.php\">Excise Customs<\/a> And <a href=\"https:\/\/carajput.com\/services-tax-registration.php\">Service Tax<\/a> Hyderabad-I, CESTAT BANGALORE)<\/span><\/strong><\/p>\n<p style=\"text-align: justify;\">Denial of rebate claim &#8211; Bar of limitation &#8211; Export of goods &#8211; Petitioner&#8217;s claim for refund would be governed by rule 18 of the Central Excise Rules, 2002 read with the notification issued thereunder. The said notification does not provide any period of limitation for a claim for rebate. The rejection of the petitioner&#8217;s claim for rebate, therefore, is not well founded.\u00a0<span style=\"color: #3366ff;\"><strong>(M\/s JSL Lifestyle Limited Versus Union of India and others,\u00a0PUNJAB AND HARYANA HIGH COURT)<\/strong><\/span><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Direct_taxes\"><\/span><span style=\"color: #800080;\"><strong><span style=\"text-decoration: underline;\">Direct taxes:<\/span><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">In view of the assessment\u00a0orders made\u00a0in the case of the petitioner, the respondent authorities can no longer continue with the seizure of the ornaments in question and the same are required to forthwith be returned to the petitioner.-<span style=\"color: #3366ff;\">\u00a0<strong>(KS JEWELERS PVT LTD. Versus DIRECTOR OF INCOME TAX, GUJARAT HIGH COURT).<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Transaction of gift of shares to a private limited company &#8211; the assessee is not carrying out any business or profession, therefore, the provisions of section 28(iv) are not applicable.-<span style=\"color: #3366ff;\"><strong>\u00a0(Shri Bhavarlal Hiralal Jain, Shri Atul Bhavarlal Jain, Shri Ashok Bhavarlal Jain and Shri Ajit Bhavarlal Jain, C\/o. Jain Irrigation System Ltd. Versus Dy. CIT, Range-I, Jalgaon,\u00a0ITAT PUNE)<\/strong><\/span><\/p>\n<p><span style=\"color: #000080;\">You may like a few other posts\u00a0<\/span><\/p>\n<p><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/publications\/gst-complainces-calender-nov-2020.pdf\" data-cke-saved-href=\"https:\/\/carajput.com\/publications\/gst-complainces-calender-nov-2020.pdf\">GST Return compliances calendar- Nov 2020<\/a><\/span><\/p>\n<p><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/learn\/salient-features-of-new-proposed-gst-system-in-india.html\" data-cke-saved-href=\"https:\/\/carajput.com\/learn\/salient-features-of-new-proposed-gst-system-in-india.html\">SALIENT FEATURES OF NEW GST SYSTEM IN INDIA<\/a><\/span><\/p>\n<p><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/blog\/key-points-of-42th-gst-council-meeting-headed-by-fm-n-sitharaman\/\" data-cke-saved-href=\"https:\/\/carajput.com\/blog\/key-points-of-42th-gst-council-meeting-headed-by-fm-n-sitharaman\/\">Key points of 42nd GST council Meeting headed By FM N. Sitharaman<\/a><\/span><\/p>\n<p><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/blog\/gstn-enable-details-to-be-auto-populated-in-e-invoice-into-gstr-1\/\" data-cke-saved-href=\"https:\/\/carajput.com\/blog\/gstn-enable-details-to-be-auto-populated-in-e-invoice-into-gstr-1\/\">GSTN enable auto-populated in the E-invoice information into GST Return -1<\/a><\/span><\/p>\n<p><span style=\"color: #000080;\">FOR FURTHER QUERIES CONTACT US:<\/span><\/p>\n<p><span style=\"color: #000080;\">E: <a style=\"color: #000080;\" href=\"mailto:singh@carajput.com\">singh@carajput.com<\/a>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 9-555-555-480<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CORPORATE TAX UPDATE FOR 22th OCTOBER 2015 FAQ on Company Law: Query:\u00a0&#8211;\u00a0Our query is whether we can file Annual filing forms with the ROC annexing Financial statements (Balance sheet &amp; Statement of Profit &amp; Loss Account) with (Sd\/-)\u00a0\u00a0as signature of directors. Please guide. Answer:\u00a0No, duly stamped &amp; signed Financial Statements by the directors of Company &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,150,9,4],"tags":[3695,3697,162,333,3698,9038],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/515"}],"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=515"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/515\/revisions"}],"predecessor-version":[{"id":15956,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/515\/revisions\/15956"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}