Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Employee conflict disclosures and investment restrictions expand with new recusal duties, post-employment limits, and compliance reporting requirement...
Levy of interest on delayed payment of profession tax - The High Court found that the Act and the Rules clearly indicated that the profession tax should be deducted and paid on a monthly basis. Even in the absence of a specific date men tioned before the 2011 amendment, the payment and filing of returns were to be done by the last day of the succeeding month. - The Court dismissed the petitioner's argument that there was no prescribed time limit for payment of tax and filing of returns. The Court upheld the revisional authority's order, confirming that there was a liability to pay interest for delayed payment of profession tax.
Levy of interest on delayed payment of profession tax - The High Court found that the Act and the Rules clearly indicated that the profession tax should be deducted and paid on a monthly basis. Even in the absence of a specific date men tioned before the 2011 amendment, the payment and filing of returns were to be done by the last day of the succeeding month. - The Court dismissed the petitioner's argument that there was no prescribed time limit for payment of tax and filing of returns. The Court upheld the revisional authority's order, confirming that there was a liability to pay interest for delayed payment of profession tax.
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