1. Rent received from a property belonging to assessee’s husband is taxable under the head “House Property” and not under “Other Sources. [CIT v/s. Mina Deogun, High Court of Calcutta].
2. Penalty u/s 272B of the Income Tax Act cannot be imposed if there was reasonable cause of failure to quote valid PANs.
3. The CBEC vide Notification No. 18/2015-CE (NT) dt July 6, 2015 has specified the conditions, safeguards and procedures for issue of invoices, preserving records in electronic form, authentication of records and invoices by digital sign.
4. Construction of metro rail cannot be charged to service tax under Commercial or Industrial Construction Services. Mumbai - CESTAT.
5.The Supreme Court said on monday that capital market regulator Securities and Exchange Board of India (SEBI) has the power to probe Global Depository Receipts (GDRs).
6. MCA has notified new versions of e-Form's DPT-3, Form 4 LLP, CRA - 2, MSC – 3 and FC 1 with effect from 07.07.2015.
7. National Floor Level minimum wage enhanced from Rs.137 to Rs.160 per Day with effect from. 01.07.2015.
8. Competition Commission of India (CCI) has amended its regulations related to mergers and made them more forward looking.
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