Hi Folks
“The strongest oak of the forest is not the one that is protected from the storm and hidden from the Sun. It’s the one that stands in the open where it is compelled to struggle for its existence against the winds and rains and the scorching Sun.”

I read these lines against a beautiful backdrop in a cancer hospital recently.

It is so very true. You can be a ‘victim’ of cancer or a ‘victor’ of cancer – it is all in the mind, the attitude and approach.
I read these lines against a beautiful backdrop in a cancer hospital recently. It is so very true. You can be a ‘victim’ of cancer or a ‘victor’ of cancer – it is all in the mind, the attitude and approach. Mind power is most important to overcome any crisis in life, however big or small.
4th February is observed as World Cancer Day. There will be events, debates, marathons, donations and celebrations in many, many ways to commemorate the struggles of cancer patients, break-throughs made in the medical field etc. This is as far as the ailment that affects us physically. What about the cancer of the mind ? If left unchecked and uncontrolled, a single cell, a single negative thought of anger, arrogance, frustration, jealousy, revenge, prejudice etc. can spread wildly like a cancerous cell and completely devastate a person. This causes harm not only to the person but also to the organization he works for and the society he lives in. Can we pledge to overcome these negative forces and lead a ‘cancer-free’ life ? Again, it is all in the mind !
As we celebrate the 65th Republic Day, it is all the more necessary that we strive towards a ‘cancer-free’ society – both of the body and the mind
Moving from ailments to legal updates – this issue of Lexspeak carries all the regular dose of useful information for your reading.
Should you wish to refer to any older issues of Lexspeak, do visit our Resource Centre on  sharadasc.com.

Warm regards

CBDT has clarified that wherever the service tax component comprised in the amount paid/payable to the resident is indicated separately, in terms of the agreement / contract between payer and payee, tax shall be deducted at source on the amount paid / payable without including such service tax component.
As a part of further liberalization & simplification procedure, RBI has issued revised guidelines for merchanting or intermediary trade transactions w.e.f.17th January, 2014. The underlying spirit that the merchant traders must be actually trading in goods and not mere financial intermediaries continues.
Securitisation Companies (SCs) & Reconstruction Companies (RCs) are now permitted to convert a portion of debt into shares of the borrower company upto 26% of the equity capital and subject to consent of the creditors.

SCs & RCs are also permitted to acquire debt from other SC/RCs subject to certain conditions

As per CBEC clarification, Service Tax paid under VCES (Voluntary Compliance Encouragement Scheme) would be available as Cenvat Credit only after payment of tax dues in full and receipt of Acknowledgment of Discharge in Form VCES-3. This CENVAT Credit relates to service tax paid under reverse charge mechanism for certain categories of input services.
Effective from 1st April, 2014, RBI will completely withdraw all banknotes issued prior to 2005 from circulation. From the said date, public can exchange the old notes with banks.

Regional Director (RD) shall invite specific comments, if any, from the Income Tax department within prescribed time limit before filing response to the Court u/s 391 (arrangement / compromise) / 394 (reconstruction/amalgamation) of the Companies Act, 1956.
Note: The contents of this
Newsletter are only a summary and has not dealt with any issue in detail. Any action
taken or proposed to be taken must be in consultation with professionals and not
merely based on the articles / news updates. Lex Valorem disclaims all liability on action taken without professional advice.

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