Daily Archives: August 22, 2015

Expenses for Removal of illegal encroachments is revenue Expense

By | August 22, 2015

Expenses for Removal of illegal encroachments Q Whether expenditure to be incurred in removal of encroachments in and around the technical area of the Airport which was necessitated out of safety and security consideration in the normal course of business of authority enjoined with the responsibilities of maintenance and operation of airports all over India is… Read More »

No recovery during pendency of adjudication

By | August 22, 2015

No recovery during pendency of adjudication Q ; Whether recovery can be made if the adjudication proceedings are pending ? Service Tax : During pendency of adjudication proceedings, only provisional attachment under section 73C (service tax) can be made; recovery under section 87 would apply only after adjudication order is passed under section 73 Section 87,… Read More »

Payment banks Questions and Answers

By | August 22, 2015

How payment banks will affect our life ? On August 19, 2015 the RBI had granted in principle approval to 11 entities for establishment of payment banks, which include established ones like Reliance Industries, Aditya Birla, Tech Mahindra, Airtel and Vodafone. The ‘in-principle’ approval shall be valid for a period of 18 months during which… Read More »