Calics Corporate Services LLP

You can read more about "One Person Company" here:
http://www.calics.co.in/blogs/
on blog you can find interesting comparison of OPC with other business form

Proprietary Business is the most ancient business form in a world. And most preferred business form in India by new entrepreneurs..

Going Corporate with LLP Formation "Calics Corporate Services LLP"

F.No.137/99/2011-Service Tax
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
***

New Delhi, dated the 23rd April, 2013

Order No: 03/2013-Service Tax

In exercise of the powers conferred by sub-rule(4) of rule 7 of the Service Tax Rules, 1994, the Central Board of Excise & Customs hereby extends the date of submission of the Form ST-3, for the period from 1st October 2012 to 31st March 2013, from 25th April, 2013 to 31st August, 2013.

The circumstances of a special nature, which have given rise to this extension of time, are as follows:

“The Form ST-3, for the period from 1st October 2012 to 31st March 2013, is expected to be available on ACES around 31st of July, 2013”.

Himani Bhayana
Under Secretary (Service Tax)
Central Board of Excise and Customs

Capital gains or business profits?

There has been a constant tussle over classifying income from sale of shares as capital gains or profits, or gains from business. There are judgements in favour of both, and decisions have relied on various parameters such as frequency of trading, classification of shares as investment or stock-in-trade, and the investment’s holding period.

The Bombay High Court recently held that income arising from sale of shares in an unlisted company to its holding company would be taxable as capital gains and not business income, on the grounds that shares of a private limited company are not marketable like other normal trading assets. Consequently, such shares cannot be considered stock-in-trade even if they were acquired for control of a company. The High Court also rejected the Revenue Department’s grounds for denying exemption from capital gains tax arising on transfer of shares by a wholly-owned subsidiary to its parent.

Hi Everyone.. Its time to pay service tax now.. The service tax for month or quarter ending 31st March has to be paid by 31st March only..