1. Govt. of India, in their notification dated 11.06.2014 have notified the Cost Inflation Index for the FY 2014-15 as 1024.
2. The PF Commission has proposed to the Govt. of India, to increase the coverage to employees earning Rs 15,000 pm, as against Rs 6,500 per month, to being the Act in sync with ESI.
3. The Commission has also proposed to cap the monthly contribution on salary to Rs 6,500 p.m. currently the contribution was 12% with no upper limit.
4. With an amendment to the Company Rules 2014, for declaration and payment of Dividend, ‘No Co. shall declare dividend, unless carried over previous losses and depreciation carried forward, are set off against the profit of the Co. for the current year.
5. Under Service Tax, the date of limitation period of 1 year for filing refund shall commence, from the date of service.
6. The Shome Panel has suggested that Retrospective Tax Law should be avoided as a principle.
7. For imposing penalty under Sec 27(1)(c), the AO has to be satisfied that (i) assessee concealed particulars of such income and (ii) the assessee furnished inaccurate particulars of such income.
The Legislature did not intend to impose penalty on every claims of assessee rejected by the A.O……….DCIT Vs Integrated Master Securities P. Ltd
8. The assessee will get immunity from penalty, if he did not have any mala fide intention in not depositing service tax in time……….Allahabad.
9. Where maintenance of garden is an obligation under relevant pollution law, CENVAT credit is eligible…………Ahmedabad.
10. The TDS certificate will supersede Form 26A5, in case of ariston between the two…………………………….Mumbai
11. CBDT has given option to individuals to show their mother’s name on PAN card.
12. Registration granted to Trust cannot be cancelled on mere denial of exemption under Sec 10(23c)(vi).
13. Where computer accessories and peripherals form an integral part of the computer system, such as printers, scanners, server’s etc. depreciation can be claimed @ 60%..................................CIT Vs BSES Yamuna Powers.

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