Articles by CMA Gul S
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Tribunal's power to grant stay of demand
Section 254 of the Income-Tax Act, 1961 relates to appeals before the Income Tax Appellate Tribunal (ITAT) by assessees and the tax department. It also deals with the law relating to grant of stay of demand on assessees' petitions. This section was
What's short-selling of shares
What is short-selling? Short-selling, in the context of the stock market, is the practice where an investor sells shares that he does not own at the time of selling them. He sells them in the hope that the price of those shares will decline, and he w
Period of Preservation of Accounts
Central ExciseDaily Stock Account of goods produced must be maintained for 5 years immediately after the financial year to which such records pertain Maharashtra Value Added Tax Rules Every Registered Dealer must preserve all books of account, regis
HOUSING SOCIETIES TRANSFER FEES TAXABLE
HOUSING SOCIETIES in the city that disputed the applicability of income tax on transfer fees - collected by a society when a flat is sold by a member - may have to pay up. The Income-Tax (I-T) Department has begun issuing notices to such housing soci
Single window clearances envisaged for SEZs
The Union Minister of Commerce & Industry called for a coordinated effort by all stakeholders so that SEZ Scheme can fulfill its objectives and is implemented efficiently by the State Governments by providing single window facilities and all othe
OPPORTUNITY TO WORK IN NOVA SCOTIA, CANADA
OPPORTUNITY TO WORK IN NOVA SCOTIA, CANADAProfessional Development Committee (PDC) of ICAI is working with BusinessDevelopment, Emerging Markets team of Nova Scotia Business Inc. (NSBI) to facilitaterecruitment of members of ICAI for employment in No
Re-hit exporters may get extra sops as govt worries on missing target
The government is likely to dole out an additional relief package for exporters hit by an appreciating rupee by the month-end with fears that the country may not achieve the $160-billion export target. The move comes at a time when the exporters have
Report on Indo-EFTA trade pact by year-end
A Joint Study Group (JSG) of India and the European Free Trade Association (EFTA), comprising Switzerland, Norway, Liechtenstein and Iceland, set up last December to explore the possibility of entering into a broad-based trade and investment agreemen
Infrastructure MFs are flavour of the year
It's not just the infrastructure sector that is witnessing fund inflows from a cross section of investors, including private equity players, for the past year. Schemes floated by mutual funds (MFs) have also piqued investor interest, as a result of w
Reassessment Notice
Can assessing officer issue notice u/s 148 on the basis of report of investigation wing. Is reassessment u/s 147 valid despite the fact he has given the reasons of opening case that investigation department has carried out investigation and found tha
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