Chartered Accountants based in national capital Delhi and providing services related to Auditing, Income Tax, Service tax, VAT, Accounting, Payroll Processing, Company Registration in India.
We have the first-class Company Registration in India in Rohtak
Minimum monthly salary for levy of profession tax in Maharashtra increased from Rs. 5000 to Rs. 7500 [Maharashtra Budget 2014].
TDS Certificate to supersede Form 26AS in case of variation between two; ITAT comes in rescue of assessee
Assessee, by furnishing TDS certificates bearing full details of tax deducted at source, had discharged primary onus on it towards claiming credit in respect of tax so deducted
 45 taxmann.com 256 (Mumbai - Trib.) IN THE ITAT MUMBAI BENCH 'A'
LSG Sky Chef (India) (P.) Ltd. v. Deputy Commissioner of Income-tax -5(2), Mumbai
Section 199, read with section 198, of the Income-tax Act, 1961 - Deduction of tax at source - Credit for tax deducted (Short credit) - Assessment year 2009-10 - Whether Form No. 26AS is a statement generated at end of revenue, and assessee cannot be in any manner held responsible for any discrepancy therein or for non-matching of TDS reflected therein with assessee’s claims - Held, yes - Whether assessee, by furnishing TDS certificates bearing full details of tax deducted at source, had discharged primary onus on it towards claiming credit in its respect and, accordingly, Assessing Officer was to be directed to allow assessee credit of tax so deducted - Held, yes [In favour of assessee]
Assigning Keyman Insurance Policy 2 days before end of lock-in period held ‘malafide’; surrendered value is taxable
A firm assigned a Keyman Insurance Policy to its partner just two days before completion of lock-in period and on that it had nil surrender value - The ITAT held that such assignment was made with a malafide intention so that the surrendered value could escape taxability in the hands of the employee - Therefore, the amount received under Keyman Insurance Policy would be taxable in the hands of partner
Deputy Commissioner of Income-tax v. Manjit Kumar  45 taxmann.com 573 (Amritsar - Trib.)
Sum paid to foreign co. for production of 2D and 3D animated films wasn’t fees for technical service
Where assessee, engaged in production of 2D and 3D animation films, having received orders from various companies for production of animation films, outsourced a part of projects to overseas clients on contract basis, since there was no element of any technical services in production of animation films, provisions of section 9(1)(vii), did not apply to payments made by assessee to foreign sub-contractors.
[ADIT (International Taxation-I), Hyderabad vs. DQ Entertainment (International) (P.) Ltd.]
All Companies to have Financial Year April - March. Existing Companies to comply from 2016-2017. Holding/ Subsidiary of foreign company can apply for exemption. [Section 2(41) Companies Act, 2013]
Download Form 16 (Part A), 16A and 27D of Q4 from Traces and issue by 30 May (Form 16 and 12BA by 31 May). Department can track it and levy penalty of Rs.100 per day.
File ITR if total Income (before Chapter VI-A deductions) exceeds exemption limit. Employees with Income upto 5 lacs not exempt from filing ITR for AY 2014-15.
Resident assessee can claim losses incurred from house property located abroad in return filed in India. [Sumit Aggarwal vs.Deputy Commissioner of Income-tax, Circle - VII, Ludhiana]