Fastest Taxation Updates

CBDT has asked ITOs to dispose rectification applications as early as possible which are filed by tax payers who think that the tax slapped on them may not be properly calculated. Assessee has to claim unabsorbed c/f depreciation if he has claimed depreciation allowance for current year. [Case: Seshasayee Paper and Board Limited vs DCIT (Supreme Court)]. MCA has notified the exemptions to government companies from the provisions of the Companies Act, 2013 to be enjoyed by the government companies effective 5th June, 2015. Where Service Tax on services provided by sub-contractor has been paid by contractor, prima facie, no service tax can be demanded from sub-contractor. [Sew Infrastructure Ltd. vs. CCEC, Raipur]. NICASA of NIRC of ICAI is organising Delhi Level Elocution and Quiz Contests 2015 on 21st June 2015 at ICAI Audi, Vishwas Nagar Delhi. No Fee. For registration visit www.nirc-icai.org.