Revised Schedule for May 2015 and Nov 2015 - DT and IDT CA Final and Free Amendments Class

Batches At Vidyanagar		Batches At S.R.Nagar
Batches during Jan 2015 to March 2015	IDT for CA Final May & Nov 2015 27th January 2015 to 10th March 2015 Morning: 6.00 AM to 9.00 AM [Duration: 130 Hours]	DT for CA Final May & Nov 2015 19th January 2015 to 12th March 2015 Evening: 5.45 PM to 9.15 PM               [170 Hours] IDT for CA Final May & Nov 2015 11th March 2015 to 31st March 2015 Time - 10.30 AM to 6.30 PM                [130 Hours]
Venue for Morning Batch Room No # 14; Hindi Mahavidyalaya; Adjacent to Durgabhai DeshMukh Hospital; Near Vidya Nagar Railway Station; O.U.Road, Hyderabad.		Venue for Evening Batch First Floor, New Vision Junior College, Lane Adjacent to Himalaya Book World, Sr.Nagar Police Station Road, S.R.Nagar, Hyderabad.
Contact: Rajendra Prasad: 9963 250 500; 98495 79413 (Think Taxes – Think Rp Sir) Email id: askrpsir@gmail.com; www.rpdynamic.blogspot.com; Facebook id: www.facebook.com/rajendraprasad.talluri;
Free Amendments Class at Vidyanagar relevant for May 2015 CA Final: 4th Jan 2015 [10.30 AM to 1.00 PM (DT); 2.00 PM to 4.30 PM (IDT)]

Revised schedule for DT and IDT

Hi All,

Pl find the schedule for upcoming batches.

Batches At Vidyanagar		Batches At S.R.Nagar
Batches during Jan 2015 to March 2015	IDT for CA Final May & Nov 2015 27th January 2015 to 10th March 2015 Morning: 6.00 AM to 9.00 AM [Duration: 130 Hours]	DT for CA Final May & Nov 2015 19th January 2015 to 12th March 2015 Evening: 5.45 PM to 9.15 PM [170 Hours] IDT for CA Final May & Nov 2015 11th March 2015 to 31st March 2015 Time - 10.30 AM to 6.30 PM [130 Hours]
Venue for Vidyanagar Batch Room No # 14; Hindi Mahavidyalaya; Adjacent to Durgabhai DeshMukh Hospital; Near Vidya Nagar Railway Station; O.U.Road, Hyderabad.		Venue for Sr.Nagar Batch First Floor, New Vision Junior College, Lane Adjacent to Himalaya Book World, Sr.Nagar Police Station Road, S.R.Nagar, Hyderabad.
Contact: Rajendra Prasad: 9963 250 500; 98495 79413 (Think Taxes – Think Rp Sir) Email id: askrpsir@gmail.com; www.rpdynamic.blogspot.com; Facebook id: www.facebook.com/rajendraprasad.talluri;
Free Amendments Class at Vidyanagar relevant for May 2015 CA Final: 4th Jan 2015 [10.30 AM to 1.00 PM (DT); 2.00 PM to 4.30 PM (IDT)]

Schedule for DT and IDT May 2015 and Nov 2015

Hi, Pl find the schedule for DT and IDT for May 2015 and Nov 2015 CA Final

Morning Batch [At Vidyanagar] [6.00AM to 9.00AM]	Evening Batch [At S.R.Nagar] [6.00 PM to 9.00 PM]
Direct Taxes for CA Final May 2015 / Nov 2015: From 27th Nov 2014 to 26th Jan 2015; IDT for CA Final May 2015 / Nov 2015: From 27th Jan 2015 to 10th March 2015;	Direct Taxes for CA Final May 2015 / Nov 2015: From 2nd Jan 2015 to 28th Feb 2015; IDT for CA Final May 2015 / Nov 2015: From 1st March 2015 to 10th April 2015;
Venue for Morning Batch Room No # 14; Hindi Mahavidyalaya; Adjacent to Durgabhai DeshMukh Hospital; Near Vidya Nagar Railway Station; O.U.Road, Hyderabad.	Venue for Evening Batch First Floor, New Vision Junior College, Lane Adjacent to Himalaya Book World, Sr.Nagar Police Station Road, S.R.Nagar, Hyderabad.
Contact: 9963 250 500; 98495 79413

 

DT for CA Final May 2015 is just started

Direct Taxes for CA Final – May 2015 is starting on 10^th Oct 2014. Hindi Mahavidyalaya – Evening 5.30 P.M to 8.45 P.M: [Contact 9963 250 500 / 98495 79413]

Free Amendments Class for CA Final DT - Nov 2014

Hi, there is a free amendments class on direct tax laws for students appearing for CA FINAL Nov 2014. Interested students can avail this benefit. Venue: Hindi Mahavidyalya, Nallakunta; Evening 5.30 p.m. Pl bring the latest RTP while coming to the class. [Amendments, Case Laws, Notifications and Circulars which are relevant for Nov 2014 CA Final attempt will be covered]

IDT batch for CA Final Nov 2014 and May 2015 will start from 11th Aug 2014 - Morning

New Batch for IDT (CA Final) Nov 2014 and May 2015 will start from 11th Aug 2014 at Hindi Maha vidyalaya (Nallakunta) during morning hours (6.00 AM to 9.00 AM).

Thank you,

Rp
 

Updates in Indirect Tax Laws # 9:

Service Tax extends to the Continental Shelf & Exclusive Economic Zone (CS & EEZ) of India [Notification No. 14/2010-S.T., dated 27-2-2010]

Eg: A Vessel sailing from Karachi to Colombo developed some technical snag while passing through CSI (Continental Shelf of India) off Kochi port. A marine engineer from Ernakulam provides service to the vessel anchored in the EEZI (Exclusive Economic Zone of India).

Sol: No tax ! Why? Because, the vessel located in the CSI / EEZI, is not engaged in the mineral exploitation.

Eg #2: Installation in EEZI meant for prospecting for mineral oil, did not find out oil. Is tax payable on service provided to such an installation?

Sol: Tax is payable ! Why? Because, installation was for the purposes of prospecting mineral oil. It does not matter whether oil was found or not.

Update in Direct Tax Laws # 8

No of days of forced stay in India cannot be counted while determining the Residential Status.  Thus, where the Government Agencies illegally impounded the passport of the assessee and because of which his stay in India exceeded 182 days, he cannot be treated as ‘Resident’. i.e The number of days for which his passport was impounded is to be excluded while counting the period of STAY. [Suresh Nanda Vs ACIT] [2014] [45 Taxmann.com 269] [Delhi – Tribunal]

CENVAT credit is available on expenditure incurred towards after sale services

Update in Indirect Tax Laws # 7: Service Tax Paid towards expenses on after sales service is eligible for credit as input service as the same is covered in the definition of input service as defined in Rule 2(l) of the CENVAT Credit Rules, 2004. [Com Vs Mahindra & Mahindra Ltd] [34 STR J 217] [RK Jain] [2014] [Mumbai-HC]

CENVAT Credit on Sales Commission Service is not available.

Update in Indirect Tax Laws # 6: CENVAT Credit on Sales Commission Service is not available.

Thus, where the assessee incurred expenditure towards ‘Sales Commission Service’, held that CENVAT Credit on the same is not available to the assessee. [Astik Dyestuff Pvt Ltd Vs CCEX] [2014] [34 STR 814] [Gujarat HC]; In this Judgment they affirmed the judgment given in earlier case of ‘CCEX Vs Cadila Healthcare Ltd] [2013] [30 STR 3] [Gujarat HC]. Readers may note that a contrary judgment was given by the P&H HC in ‘CCEX Vs Ambica Overseas’ [2012] [25 STR 348];

Yuvraj Singh gets Service Tax Demand Notice

Update in Indirect Tax Laws # 5:

Yuvraj Singh gets service tax notice: The Central Excise Department had issued a show cause notice to cricketer Yuvraj Singh, seeking payment of service tax to the tune of Rs 46.60 lakhs on his income from promotional activity. The tax demand was raised on the payment of Rs 4.14 Crores which Yuvraj Singh received from Sahara Adventure Sports for carrying out promotional activity, as clarified by the Central Excise Officials. However, he had already paid Rs 36 lakhs as service tax and the balance is to be paid as per the terms of the said notice. [Source: Page J181 Volume 34: Part 5 of STR – RK Jain] [Next Batch for CA Final IDT - Nov 2014 attempt starts on 11th Aug 2014]

Update in Indirect Tax Laws # 4:

Whether a composite contract for ‘Manufacture, Supply and Installation of Lifts in a Building’ amounts to ‘Contract of Sale’ or ‘Works Contract’?
It was held that it amounts to ‘Contract of Sale’ and not a ‘Works Contract’ as skill and labour employed for converting main components into end product was only incidental. Thus, the decision of the Supreme Court in ‘State of AP Vs Kone Elevators’ [2005] [181 ELT 156] was overruled by the 5 member bench of the Supreme Court in ‘Kone Elevator India Pvt Ltd Vs State of Tamilnadu’ [2014] [34 STR 641] [SC].

Updates in Direct Tax Laws - 3

The Guiding Factor as to the taxability under the head ‘Salaries’ Vs ‘Fees For Technical Services’ – Expatriate Taxation Regarding:

The question is whether the services rendered by the overseas entity will be taxable under Fees For Technical Services in the hands of the overseas entity or whether they are taxable as ‘Salaries’ in the hands of the non-resident employees?

Held that, where the Indian entity only had the right to terminate the secondment, without the right to terminate the original employment, overseas entity was the real employer of seconded employees. Reimbursement of salary was to be regarded as FTS [Fees for Technical Services] as they rendered quality control services till the necessary skills were acquired by the resident employee group. [Centrica India Offshore P Ltd Vs CIT] [2014] [44 Taxmann.com 300] [Delhi]

Updates on Direct Tax Laws-2

Whether Transfer Pricing Regulations apply to Guarantee Transactions given by an entity to its Associated Enterprise post amendment of Sec 92B by the Finance Act, 2012:
It all depends on various facts and one of the main factors to be considered is whether the AE had taken any loan based on the ‘Corporate Guarantee’ given by the other entity. If the answer is ‘Yes’, then it falls within the ambit of TP Provisions. [Four Soft (P) Ltd] [Hyd Tribunal – ITA Number 1901/Hyd / 2011]
On the other hand, where the AE had not taken any loan based on the ‘Corporate Guarantee’ extended by the other enterprise, then it does not fall under the scope of TP Provisions even after the amendment of Sec 92B by the Finance Act, 2012. [Bharti Airtel Ltd Vs Addl CIT] [2014] [43 Taxmann.com 150] [Delhi-Tribunal]
Where TP provisions are applicable, CUP method is to be used to benchmark the same.

Silver lining for non-resident remittances

Whether Tax is required to be deducted at source where the seller incurs a ‘Capital Loss’?  Held that it is not required to deduct TDS where the seller incurs a capital loss. [Hyderabad Tribunal in ‘Sanofi Pasteur Merieux Vs DIT] [2014] [43 Taxmann.com 399]

Schedule for DT and IDT Classes by Rp Sir for Nov 2014 CA Final

 

Morning Batch [At Vidyanagar]	Evening Batch [At S.R.Nagar]
Direct Taxes for CA Final Nov 2014: From 10th June 2014 to 10th Aug 2014; Morning 6.00 AM to 9.00 AM Indirect Taxes for CA Final Nov 2014: From 11th Aug 2014 to 25th Sep 2014; Morning 6.00 AM to 9.00 AM.	Direct Taxes for CA Final Nov 2014: From 10th June 2014 to 10th Aug 2014; Evening 6.00 PM to 9.00 PM.
Venue for Morning Batch Room No # 14; Hindi Mahavidyalaya; Adjacent to Durgabhai DeshMukh Hospital; Near Vidya Nagar Railway Station; O.U.Road, Hyderabad.	Venue for Evening Batch First Floor, New Vision Junior College, Lane Adjacent to Himalaya Book World, Sr.Nagar Police Station Road, S.R.Nagar, Hyderabad.
Contact: 9963 250 500; 98495 79413

IDT Morning Batch from 30th January 2014 onwards at Hindi Mahavidyalaya

Hi,

IDT classes for CA Final May 2014 and Nov 2014 are getting started from 30th Nov 2013 onwards at Hindi Mahavidyalaya;

Batch Duration: 43 to 45 Days;
Venue: Hindi Mahavidyalaya; Nallakunta; Hyderabad
Timings: Morning 6.00 AM to 9.00 AM


For enquiries: Pl contact 9963 250 500 / 98495 79413 [Preferable timings for enquiries: 10.30 AM to 5.00 PM]