Daily Archives: September 18, 2015

Taxable salary when excess salary is refunded by employee

Assessee earned salary during FY 2007-08 Rs.4,56,821 however recovery of Rs .2,13,132 was made for excess salary payments relating to earlier years and net salary of Rs 243689 was received by the Assessee . How much is taxable salary during FY 2007-08 Rs 4,56,821 or Rs 243689 ?   Taxable Salary is Rs 243689 What is taxable under… Read More »

Construction for an educational institutions and service tax Exemption

Whether for the construction of educational institutions, service tax is exempted as per Circular No. 80/10/2004 ST, dated 17.9.2004 upto 30.6.2012 ? Section 65(105)(zzzza), read with section 65(25b), of the Finance Act, 1994 Taxable services – Works contract services Period October, 2008 to June 2012 Facts of the Case Assessee constructed classrooms, hostels, etc., for educational… Read More »

SECURITIES AND EXCHANGE BOARD OF INDIA (PROCEDURE FOR SEARCH AND SEIZURE) REPEAL REGULATIONS, 2015

THE GAZETTE OF INDIA EXTRAORDINARY PART III – SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, SEPTEMBER 17, 2015 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 17th September,2015 SECURITIES AND EXCHANGE BOARD OF INDIA (PROCEDURE FOR SEARCH AND SEIZURE) REPEAL REGULATIONS, 2015 No. SEBI/LAD-NRO/GN/2015-16/020.– In exercise of the powers conferred by section 30 of… Read More »