S. 54F Exemption can be claimed for residential house purchased outside India

S. 54F Exemption can be claimed for residential house purchased outside India Posted: 25 Feb 2013 07:40 PM PST On a plain reading of the provisions of section 54F of the Act, we do not find anything therein to suggest that the new residential house acquired should be situated in India. The jurisdictional High Court in the case of Mrs. Jennifer Bhide (supra) has held that introducing a word which is not... EPFO subscribers to get 8.50% interest for 2012-13 & a permanent account number Posted: 25 Feb 2013 06:48 PM PST The EPFO's board discussed the rate of interest for 2012-13. After detailed discussion, the board decided to recommend a rate of interest of 8.5% for the year. Decision to pay 8.5% interest rate was taken unanimously by the board. The trustees also decided that EPFO will give a permanent... Last Date to File ST 3 Return July 12 to Sep 12 & Revised Form ST 3 Posted: 25 Feb 2013 06:20 PM PST Instruction regarding Notification No. 1/2013- Service Tax dated 22-2-2013 which seeks to amend the Service Tax Rules 1994 so as to prescribe the revised return Form ST3 and also stipulate that the last date for filing a return for the period July 2012 to September 2012, is 25th March 2013. F. No.... SARFAESI Act & sorrows of Borrower? Posted: 25 Feb 2013 05:38 PM PST There is every need for the Government to enable/assist the Banks in reducing their NPAs (Non-performing Assets) and it is beyond doubt that the Banks are now well assisted/equipped through the legal frame-work in recovering their dues. The provisions of SARFAESI Act, 2002 (The Securitisation and... DVO's valuation based on incomparable sales is not permissible in law Posted: 25 Feb 2013 11:19 AM PST According to the Tribunal, was a condition precedent for making a reference to the DVO. The Tribunal also held that, in any event, the DVO's report was based on incomparable sales and, therefore, could not be relied upon. The Tribunal also held that the burden was on the revenue to show that... Contrary View on Point of Taxation Rules, 2011 post Delhi HC judgment Posted: 25 Feb 2013 08:08 AM PST Savan R. Somani Brief :- The judgment in the case of Delhi Chartered Accountants Society (Regd.) V/s Union of India & Others, C.M.No.9237/2012 stated that 'Circular No.154 when it states that invoices issued on or before 31.3.2012 shall continue to be governed by Rule 7 as it stood before... CBEC notifies ST-3 – Return of 2nd Quarter can be filed till 25-3-2013 Posted: 25 Feb 2013 07:44 AM PST NOTIFICATION NO. 01/2013-ST, DATED 22-2-2013 Form ST- 3 for the period between the 1st day of July 2012 to the 30th day of September 2012, shall be submitted by the 25th day of March, 2013 Budget 2013 – 2014 A Brief Curtain Raiser Posted: 25 Feb 2013 07:24 AM PST This week is important from the economic view point as the Government would unfold its economic performance and agenda in the form of economic survey, railway budget and Union Budget for next fiscal- something for which the entire nation and investors all over the world excitedly wait for. Revised requirements for Listed companies desirous of undertaking a Scheme of Arrangement Posted: 24 Feb 2013 09:24 PM PST CS Kiran Kumar Guptha B The SEBI, vide Circular No. CIR/CFD/DIL/5/2013 dated February 4, 2013 by rescinding the Circular No. SEBI/CFD/SCRR/01/2009/03/09 dated September 03, 2009, has revised the requirements for the Stock Exchanges and Listed companies desirous of undertaking a Scheme of... Guidelines for Setting up Disaster Recovery& Business Continuity Plans Centers for IT / ITES SEZs Posted: 24 Feb 2013 09:18 PM PST Disaster recovery (DR) may be seen as the process, policies and procedures related to preparing for recovery or continuation of technology infrastructure critical to a business organization after a natural or human-induced disaster occurs. Disaster recovery may be seen as a subset of business... List of CS Toppers for December, 2012 Exams Posted: 24 Feb 2013 08:30 PM PST ALL INDIA PROVISIONAL MERIT LIST FOR CS EXAMINATIONS HELD IN DECEMBER,2012 SESSION LIST OF FIRST 25 TOP RANKERS WHO HAVE PASSED ALL PAPERS OF FOUNDATION PROGRAMME, EXECUTIVE PROGRAMME AND PROFESSIONAL PROGRAMME EXAMINATIONS WITHOUT EXEMPTION IN ANY PAPER, IN ONE SITTING, IN