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- A Negative List in Service Tax Levy- Impact on Construction Industry
- Copyright Board cannot grant interim relief
- Charity should not become a façade to promote business interest or secure advantage of persons mentioned in section 13(3)
- Office of CA or of a firm of a CA is neither a shop nor a commercial establishment.
- Profession of CA is neither a trade nor a business
- Commission Agent Services provided prior to 10.09.2004 also taxable services under BAS
- Revised CBDT Instruction on Grant of TDS Credit For AY 2011-12
- Payment of PF accumulations after closure of establishment, in absence of Form 3A/6A
- Regarding Compliance in respect of International Workers
- Exemption from furnishing return of income for A.Y. 2012-13 to salaried taxpayer
- Ordinary profits’ referred to in Section 80IA is different from ‘ALP’
- Section 54F benefit remains intact even if Assessee transfer New house acquired to claim S. 54F to acquire another house
- Mere Sale & Lease Back cannot lead to conclusion that transaction is sham
- Even in a case where no expenditure is incurred, AO has to apply Rule 8D
- S. 14A In case net interest is income, no part of interest paid can be disallowed for earning tax free dividend
- Interest free loan is subject to arm’s length test irrespective of commercial expediency
- ALP cannot be applied to determine ‘ordinary profits’ for computing S.10A deduction
- Payments for purchase of Software not Royalty – ITAT Mumbai
- S. 80-IB(10) deduction available to taxpayer who is not merely a land owner but carries on activities along with promoter for developing & building approved housing project
- Severance benefits (including Leave Encashment) received outside India from former employer for services rendered outside India not taxable in the hands of an individual who is a Not Ordinary Resident
- Insertion of New Rule 10AB – Determination of arm’s length price
- Charitable trust is not invalid merely because settlor or Poor Relative of settlor is one of the beneficiary
- India and Netherlands sign Protocol Amending DTAC
- Requirements for requesting information under the India-Switzerland tax treaty relaxed
- S.68 If assessee fails to prove identity & credit worthiness of creditor than AO can treat the loan as income
- Agent not liable for tax on income earned on behalf of principal but only for charges received for his service
- I-T department working on strategy to prevent corruption
- SEBI Amendment to the Consent Circular dated 20th April 2007
- Amends Notification No. 68/2011-Customs (N.T.), dated 22nd September, 2011
- Rate of exchange of conversion of each of foreign currency wef 25th May, 2012
- Regarding inclusion of Sea Port KARAIKAL (Union territory of Puducherry) in the list of ports permitted for exports and imports under Export Promotion
- How To Recover TAN Registration Number (TRN) if Forgotten or lost?
- Who is a First Stage Dealer & Concept of Transit Sale
- Stamp Papers valid even after six month of Purchase
- How to Enable Macros in Microsoft Excel For Income Tax Return (ITR)
- Amendments in DTAA between India & Japan
- ITAT Asks CBDT to take notice of Mistakes in Central processing of Returns
- Whether assessee could book its expenses on accrual basis & receipts on actual receipt basis
- When addition itself Set aside, there cannot be penalty for concealment of income
- Onus on Assessee to Prove bank A/c do not belong to Assessee or is Bogus
- ICSI Annual Membership & COP Fees for the year 2012-13
- GPF and SDS Interest Rates Revised for Financial Year 2012-13
- Download Free e-filing Excel Software for ITR 1, 2, 3, 4, 4S,5, 6 for A.Y. 2012-13
- Revised Position Limits for Trading Member (Banks) in Exchange Traded USD – INR derivative contracts
- Zone-shifting of candidates for June – 2012 CA – CPT Exams
- Post Budget Service Tax on Chartered Accountants
- Taxation of HUF & Family Arrangement
- Budget 2011 – Income Tax Amendments Applicable for A.Y. 2012-13
- Govt Hikes Petrol price by Rs 7.54 a litre
- Prepare & File Electronically MVAT Return with Tally
- TDS on Hotel Room Rent & Other Facilities?
- Meaning of Electronic Clearing Service (ECS) & how it works
- Jokes on Chartered Accountants
- How to know CIBIl Rating & Access Credit Information Report?
- Deemed Dividend over Closely Held Private Companies
- S. 292BB – Assessment can not be annulled If no objection regarding valid service of notice was taken before completion of assessment
- A.O. can not make the additions deleted by Appellate Authorities while Passing order U/s.154
- S.25 Company – Amendment in MOA without Government permission is illegal
- Bribery Case – CBI arrests three excise officials in Pune
- DTAA with Switzerland -Black Money of Rs. 565 Crores Detected in 6 Months
- If a pure question of law arises for which facts are on record of the authorities below, the question should be allowed to be raised if it is necessary to assess correct tax liability
- Payment of EPF – Who can attest the claim of liquidated company?
- Govt raises interest rate on GPF to 8.8% for 2012-13
- 21 bills passed by the Parliament during Budget Session- 2012
- ICAI – Companies/Agencies Seeking Verification of Qualification to Remit Fee
- Revised Schedule VI – Normally Asked Questions
- All about NSC and Tax Benefit
- Arbitration Award after efflux of prescribed time – Valid or invalid?
- White paper on Black money Proposes to Enhance Auditors Accountability
- Income Tax Calculator F.Y. 2012-13 / A.Y. 2013-14
- Exercise of power U/s.131(1A) is contemplated in a situation anterior to exercise of power U/s. 132
- Kotak Life Insurance Records 109% Growth in Profit in FY 2011-12
- Share application money received – Genuineness merely only on the basis of bank Entries
- Average Time for Registration of Trademarks reduced from 26M to 12M
- Revised criteria for declaring a Financial Institution as PFI U/s. 4A, of Companies Act, 1956
- Penalty u/s. 271(1)(c) cannot be imposed on a debatable issue
- Final Guidelines on Basel III Capital Regulations
- Expense Allowable if TDS Paid TDS paid on or before the due date of filing of return u/s. 139(1)
- GST to Make Goods and Services more Competitive both in Domestic and International Markets – FM
- Punjab VAT- proposing to amend forms VAT-1, VAT-4, VAT-15, VAT-18, VAT-19, VAT-23, VAT-24 and VAT 56 and to introduce forms VAT 61 and VAT 62
- CMA – Attention Of Practising Members – CEP Credit Hours
- Rationalisation and Revision of Agency Commission Payable to Banks on Government Transactions
- Income tax Planning in respect of Salary Perquisites
- Create HUF to save tax & Format of HUF Creation Deed
- Effect of Non Registration of Partnership Firm
- Wealth Tax – Rates of Gold & Silver with valuation rules
- Procedure to receive Form 16A from TIN website
- Empanelment with Patilputra Central Co-Operative bank for Audit
- Benefits granted to a charitable institution cannot be extended to its substantially amended objects
- Indian Companies – Rising NPA
- SEBI – Master Circular for Mutual Funds
- RBI issues warning on phishing mail
- Black Money – White Paper May 2012
- SEBI (Alternative Investment Funds) Regulations, 2012
- Rate of exchange of conversion of each of the foreign currency with effect from 22nd May, 2012
- Anti Dumping Duty on White Cement – Notification No. 28/2012-Customs (ADD)
- Taxability of income in hands of a non-resident not a relevant consideration for treating a resident to be an agent of a non-resident
- A.O can not estimate Higher G.P. ratio without giving specific Reasons
- SEBI notifies SEBI (Alternative Investment Funds) Regulations 2012
- ESIC – No Need to Submit Hard Copy of Returns from March 2012
- How to surrender/Cancel extra /Additional PAN Online / Manually?
- Procedure for Conversion of partnership firm into company & Tax Effects
- Tax Free Bonds V/S Tax Saving Bonds
- TDS Return – How to make make Correction in Deductee Details?
- Persons carrying on agency business or earning commission income should revise their return for A.Y 2011-12, if original return filed u/s 44AD
- Taxation of Co-operative Housing Societies (CHS) & Income Tax Return
- GST, Dual GST – Meaning, Provisions & Applicabilty
- Service Tax – How to Apply for TPIN & Password
- If assessee surrenders an amount with a condition that no penal action shall be taken, to avoid further litigation and to buy peace, no penalty u/s. 271(1)(c) can be imposed
- Disclosure in respect of Micro, Small & Medium Enterprises in Annual Financial Statements
- Risk Management and Inter Bank Dealings – A.P. (DIR Series) Circular No. 129
- Compensation for under utilisation of production capacity not eligible for deduction u/s. 80IC
- DTAA cannot create any fresh tax liability which is not provided under Income Tax Act
- No capital gains tax on share transfer under family arrangement
- Regularization fees for violation in construction form part of Construction & Depreciation allowable
- Software License Charges – Payment for right to use of copyrighted article do not constitute ‘royalty’
- Living allowance on deputation or for temporarily deployment Outside India not taxable
- ITAT directs to allow risk adjustment on the comparables margin vis-a-vis the taxpayer’s
- Commission paid to director was not in lieu of dividend and therefore allowed u/s.36(1)(ii)
- Additional Depreciation can not be denied on the ground that electricity is not an article or thing
- If non-resident agent operates outside country, no part of his income arises in India
- Contribution towards costs of research / for the use of process or formula is Royalty
- Consideration for Grant of the use or consideration for right to use is Royalty
- Form 8,10 7 & 17 Can be filed despite Default in Filing of Annual Forms
- Changes to name availability guidelines
- FAQ On Prevention of Money Laundering Act, 2002
- Import Duty on Power Equipments
- MCA – Induction of Union Bank of India as Payment Gateway
- SC dismisses petition challenging Tariff Hike
- RPM most appropriate method for computing ALP of transaction wherein the taxpayer involved in purchase & resale of finished goods
- Investor Education and Protection Fund (Uploading of information regarding unpaid and unclaimed amounts lying with companies) Rules, 2012
- S. 195 Withholding of tax not required on salary of seconded employee reimbursed to a foreign company since such payment is not for rendering technical services
- First List of Allotment of Statutory audits of UCBs for the F.Y. 2011-12 in Maharashtra
- HC Takes Notice of TDS Refund Harassment by Dept & Demands Answers
- Section 234B Interest cannot be levied on Non Resident for failure on the part of payee to deduct TDS
- Books of account can be rejected either for default of ‘incomplete books’ or for ‘inaccurate books’
- Disallowances u/s 40(a) not applicable to charitable trust/institution u/s 11
- Will can not be rejected as valid document merely on the ground that it is neither registered nor notarized or was not found during search
- Courts should not interfere in policy matters of State unless policy violates mandate of Constitution
- Interest U/s. 234A to 234C Not Payable If Assessment Order Silent
- DEPB Income Eligible for Deduction U/s. 80HHC irrespective of Turnover
- List of CA/CMA Selected For Empanelment In Service Tax Commissionerate, New Delhi
- Sub Contractor not responsible for TDS u/s 194C(2)
- Key Income Tax amendments in Finance Bill 2012
- Key Indirect Tax amendments in Finance Bill 2012
- Section 54EC – Reckoning of Period From Date of Sale or Receipt of Payment?
- Excel Tips – Moving to the Last (or First) Cell in a Range
- An Overview of e-TDS & e-TCS
- Despite Last Chance appeal should be adjourned if there is sufficient cause
- Partnership deed need not quantify partner’s remuneration
- After Filling Appeal appellant can request withdraw of same if Tax Effect not significant
- Objective of Sec. 80-O is mainly supply of technical know-how or technical services to developing countries
- Itemized sale of assets with intention to transfer entire undertaking is slump sale
- In case of closed business Assessee must establish his intention and seriousness in reviving the business
- Anti Dumping Duty on Zinc Oxide – Notification No. 27/2012-Customs (ADD)
- Section 14A – Onus on AO to show expenditure incurred to earn tax-free income
- HC Reverses Law on Supply of Reasons for Reopening – Need not be supplied within limitation period
- HC dismisses Revenue Appeal for Non-Service of Notice of hearing
- Despite borrowing, gains on shares assessable as STCG & not business profits
- Tests to determine where shares gain is capital gains or business profits
- Section 14A & Rule 8D Disallowance Not Automatic
- Despite concealment Penalty U/s. 271(1)(c) can not be imposed if book profits assessed U/s. 115JB
- Share Transactions Income – Capital Gain or Business Income – Criteria
- TPO Cannot question business purpose of transaction
- Taxes levied in foreign countries on profits or gains is deductible u/s 37(1)
- Foreign Permanent Establishment profits may be taxed in India
- ICAI Invites Suggestions on Common Code for Excise & Service Tax
- To ‘make available’ technical knowledge’ payer must be enabled to perform service himself
- SC To Reconsider Verdict In S. A. Builders on allowability of Interest paid to acquire equity capital of subsidiary company
- No Disallowance U/s. 40(a)(ia) if TDS been Paid Before due date of Income Tax Return
- Tribunal cannot merely record its conclusions without discussing factual matrix, evidence & material
- Notice u/s 148 can be issued to assessee after 4 years if assessee has not truly and fairly disclosed material facts during assessment proceedings
- Sinking fund contribution for Replacement / Repair of Fixed Assets is capital receipt
- Composite contract for installation & commissioning cannot be split to exempt profits from offshore supply of goods
- Bank Finance Limit to NBFCs Predominantly Engaged in lending against Gold
- Clarification regarding classification of Structural Components of Boiler and Admissibility of CENVAT Credit on these Structural Components
- Treatment of Capital Goods sourced from SEZ and import of spares for such Capital Goods under EPCG Scheme
- Priority Sector Lending – Indirect Finance to Housing Sector – Limit Raised to 10 Lakh
- FM justifies decision to neutralise impact of SC decision in Vodafone case
- Web enabled facility to ascertain insurance particulars of motor vehicles
- Empanelment with Chennai Metro Rail Limited for Internal Audit
- Cancellation of transfer order of Judicial Member, Chandigarh Benches to Pune Benches of ITAT
- Transfer of specified members of ITAT from one Bench(es) to another Bench(es)
- Mock Tests for CAT Level-1 Students Appearing For Exam on 24.6.2012
- ICAI Group to examine eligibility for statutory audit of private/foreign banks vis-à-vis public sector banks
- Which Challan to use for Paying Income Tax Appeal Fees
- Use Separate TDS Challan for Separate sections & deductee category
- Section 54 Exemption Available on Exchange of old Flat by New
- Rajya Sabha passes Finance Bill 2012
- Listing of Government Companies in Stock Exchange
- Excel Tip – Formatting Cells Containing Formulas
- Reassessment on the basis of precise information received from Enforcement Directorate valid
- Mere erroneous claim in the absence of any concealment or furnishing of inaccurate particulars, is no ground for levying penalty
- Same view should continue to prevail for subsequent year also unless there is material change in the facts
- A person who preferred his evidence on affidavit, need not make oral deposition in court, before the accused is summoned or required to cross-examine
- Deduction u/s 80HHC under provisions of S.115JB will be limited to relief certified by CA
- Rule 8D prospective and applicable on and from the A.Y. 2008-09
- Due Date for payment of Employee Provident Fund (EPF)
- Baba Ramdev’s trust to Pay Tax on manufacture and sale of medicines
- Provisions of Section 14A & Rule 8D constitutionally valid
- HC have no jurisdiction to entertain Award petition which is also Pending in Malaysian Court
- CS Students Can Download Admit Card For June 2012 Examination after 19th May 2012
- Mere Disallowance of Expense not a ground to proceed u/s 271(1)(c)
- Reporting by the Statutory Auditors on Accounting for Liabilities Arising on Dismantling of Indian Motor Third Party Insurance Pool
- Interest Rates on FCNR(B) Deposits wef close of business in India on May 4, 2012
- RBI – Financial Inclusion – Use of Business Correspondents
- Point of Taxation Rules – Applicability of New or Old rate of Service Tax
- Some More Tax Sops As Budget Passed
- TDS on exempt incomes (especially agricultural income)
- Guidance Paper on Draft Place of Provision of Services Rules, 2012
- Adhoc disallowance should not be made for expenses which can not be inflated
- Few tips to Prevent Income Tax Raids
- Double Tax Avoidance Agreements & Taxation
- Deductions allowable against Income from House Property
- Procedure for Online Registration of TAN
- Service Tax Exemptions Under New Negative List Regime
- Declared Services under Service Tax & Tax Provisions
- MVAT – Input Credit – No set off without any tax being received into the Government Treasury
- Offence u/s.138 of Negotiable Instruments Act can be compounded at the discretion of Complainant
- CIT (A) should consider additional evidence before passing the order
- If Section 263 order not survive then assessment order in pursuance to such order cannot survive too
- Rent to be charged as ‘Income from other sources’ if not chargeable to income tax as profit and gains of business or profession
- Depreciation allowed on capital expenditure on account of payment of customs duty
- Section 205A & 205C of Companies Act 1956 are not violative of Article 14 of Constitution
- Stay against Income Tax Demand if Assessee not produced his Present financial position?
- Confession of co-accused u/s. 108 Customs Act not admissible if he is not jointly tried with Petitioner
- Appeal dismissed for Non-Prosecution can be recalled on pray for recall
- In the absence of cooperation from Assessee CIT (A) can adjudicate appeal on merits
- Assessee entitled to depreciation @ 60% on the computer & computer peripherals
- NSE byelaws, rules and regulations would prevail over the Limitation Act, 1963
- ITO to Undergo 3 Years Imprisonment in Disproportionate Assets Case
- View Online e-TDS / TCS statement submitted with status
- Return of income is the only document where assessee can furnish his income details
- Increase in Number of Tax Payers
- Preventive Measures to Control Crime Against Women
- FTP – Port Codes allotted to 58 SEZs
- FTP – Export of Sugar – DGFT Modifies Circular within 2 days
- Tariff Value – Hike in Brass Scrap; Decrease for Gold and Silver
- Extension Of Time Limit To Process Application For Recognition Of EPF Organisation
- Professionals to Pay Service Tax @ 12% for Invoice Raised before 01.04.2012
- Amendments Proposed in Provisions Relating to GAAR
- Conversion of EEFC balances into rupee balances will only be applicable to available balances in EEFC account
- Handling of Cargo in Customs Areas Regulations, 2009 – Amended
- Transfers of ITAT Members (May 2012)
- Amendment to Scheme of Authority For Advance Ruling In Case of GAAR
- If facts are same then ITAT has to its follow its earlier decision
- CA student Commit Suicide on failure in Exam
- Merely because there was no evidence of denial or rebuttal, the plaintiff’s case could not be held to have been proved
- Form 16 Excel Utility for F.Y. 2012-13
- Download Form-16 with 24Q (Annual Return) in Excel Format
- Procedure & documents required in respect of Single/Centralised Registration under Rule 4 of Service Tax Rules,1994
- Download House Rent Allowance (HRA) Calculator
- Download Loan and EMI calculator for Free
- FDI up to 100 per cent under automatic route covers only financial leases & not operating leases
- Change in CA Final Exam Venue at Patna
- Info on Tax Treaties Entered with Foreign Countries
- Conditions and modalities for registration of contracts with DGFT for export of sugar
- DGFT Notification to Help Areca Nut Growers
- Income Tax – Empanelment of Senior / Junior Standing Counsel, Nagpur
- Expression of Interest for Managed Service Provider for setting up of Tax Information Network
- Amends Notification No. 36/2001-Customs(N.T) dated 3rd August 2001
- Constitutional provisions relating to taxation-How important to understand tax laws
- Anti Dumping Duty on Tyre Curing Presses from China
- Anti Dumping Duty on Dry Cell Batteries from China – extended
- Customs – Anti Dumping Duty – PVC Flex Film from China Provisional Assessment Ordered
- Section 80CCG – Deduction for Investment Made Under Equity Saving Scheme
- SC Upholds Powers of Central Excise Officers to Issue Summons for Recording Evidence During Investigations
- Customs – Concessional rates for imports from Singapore – Sanitary towels included
- Seeks to amend notification no. 75/2005-Customs, dated 22nd July, 2005(India-Singapore CECA)
- Seeks to amend notification no. 74/2005-Customs, dated 22nd July, 2005(India-Singapore CECA)
- Seeks to amend notification no. 73/2005-Customs, dated 22nd July, 2005 (India-Singapore CECA)
- Budget 2012 – Income of Prasar Bharati To Be Exempt From Tax
- EPF Returns to be submitted by employer in electronic format
- Share premium in excess of fair market value to be treated as income
- Integration of LLP System into MCA-21
- Stopping of Form I- Cost Audit Report and Form A- Compliance Report
- Seeks to amend notification No. 49/2008-Central Excise (N.T.), dated the 24th December, 2008,
- Sugar Export – Prior registration of quantity with DGFT mandatory
- Jurisdiction of Registrar with regard to membership & Right of a particular member to vote at elections?
- Suppressing Material facts & Filing of successive petition amounts to abuse of Court Process
- Know MVAT Return Periodicity for FY 2012-13
- International Worker allowed to withdraw full amount standing to his credit in PF fund
- Minimum Wages Act,1948 – No discrimination between men and women workers
- Christian Lady in Parda Caught at Cochin Airport with Gold worth Rs.12 Lakhs
- FAQ’s on responsible handling of unauthenticated market related news or rumours by SEBI Registered Intermediaries
- Tax on Re-Registration of Vehicles
- As on 01.05.2012, 1,93,500 CAs registered with ICAI
- SEBI – Review of Regulatory Compliance and Periodic Reporting
- Revised Schedule VI – Key Features, Comparative analysis & Format
- TDS Certificates in Form 16A authenticated by digital signature
- Budget 2012- Capital Gain Tax on Sale of Residential Property & Tax Planning
- Frauds in the Name of Mumbai Customs Office/Officer
- Campaign to Recover Outstanding Income Tax Amount
- Government notifies Intime Properties Private Limited as industrial infrastructure undertakings under Section 80-IA
- Empanelment for Special Audit u/s 142(2A) of Income Tax Act, 1961 at Pune
- From Chairman, Professional Development Committee – May 2012
- Conmen Posing as CBI Officers/Acquaintances of CBI Officers & Fraudulent E-Mails Bearing CBI Logo
- Customs – Amendment in Conditions for Exemption from SAD
- Seeks to amend notification no. 15/2010 CE dated 27th February, 2010
- Seeks to amend notification 10/96-CE dated 23rd July 1996
- Seeks to amend notification No. 12/2012-CE dated 17.03.2012
- Exemption from excise duty on Articles of jewellery & goods falling under heading 8607
- Appointment of Senior / Junior Standing Counsels of Income Tax Department in Rajasthan High Court, Jaipur
- NSC (VIII Issue) – Revised Interest Rate From 01.04.2012
- Note for information of prospective candidates for Departmental Examination – 2012 for ITO/ITI
- NSC (IX Issue) – Amendment in Rules 15 & 16 – Revised Interest Rate From 01.04.2012
- Interest Rate on Post Office Recurring Deposit from 01.04.2012
- Customs – Rffective Rates – Notification No. 12/2012-Customs Amended
- Interest Rate on Senior Citizens Savings Scheme from 01.04.2012
- Interest Rate on Post Office (Monthly Income Account) from 01.04.2012
- Removal of CVD Exemption on Certain Item imported by or for Government
- Post Office Time Deposit Interest Rate from 01.04.2012
- LLP – Notice for filing Form-8 & 11 for Financial Year 2011-12
- Filing of Cost Audit Report (Form-I) & Compliance Report (Form-A) In XBRL Mode
- Seeks to amend CENVAT credit Rules, 2004 (Fifth Amendment)
- Empanelment of Senior / Junior Standing Counsels of Income Tax Department in Delhi High Court
- Chairman, CBDT inaugurated the 1st Aayakar Seva Kendra (ASK) of Delhi
- SION for new product Tubular Bags (Gauntlet) under Textiles Product Group
- 5 new items of import & 7 new items of export added to list of tradable items under Indo – China Border Trade
- Excise duty evasion of Rs.112 Lakh reported by Anti Evasion Unit of Jalpaiguri Division
- Additional conditions for Registration of Contracts for Export of Cotton
- Additional Procedure for Registration of Contracts for Export of Raw Cotton
- Onion Export allowed without MEP upto 2nd July 2012
- EOUs cannot supply marble in Domestic Tariff Area
- No separate activity code to identify Multi Level Marketing (MLM) companies
- Info on Income Tax search, seizure and survey
- Interest Rate on NRIs Deposits
- SC Questions Toll Tax when there are no smooth roads
- Budget 2012 – Prasar Bharati exempted from Income tax
- Govt. to recover Rs. 20,300 cr tax from Vodafone
- Review of Service Charges for Cheque Collection – Outstation and Speed Clearing
- RBI Guidelines for clearing of cheques where there is no formal clearing house
- Core Investment Companies (Reserve Bank) Directions, 2011 – Clarification on CICs Issuing Guarantees
- Revised Scheme for issue of Kisan Credit Card
- Documents Required for opening accounts of proprietary concerns
- Policy for Transfer of Borrowal Accounts from One Bank to Another
- Exim Bank’s Line of Credit to the Government of the Republic of Mozambique – A. P. (DIR Series) Circular No.125
- Foreign exchange earners can now retain only 100% of their forex earnings in EEFC A/c
- Fema – Amendment in intra-day open position / daylight limit of the Authorised Dealers
- PAN Meaning, Significance, who can apply & Procedure
- Waste not, want not – New Rules to regulate e-Waste
- Public Inspection of Physical records at ROC West Bengal discontinued till 31.07.2012
- Transfers & Postings of Assistant Commissioners of Income-tax – Order No. 83/2012
- Assessee can exclude freight and instance from turn over while computing deduction u/s 10B
- FCNR(B) funds representing deposit liabilities may be utilised for making loans to resident constituents
- Detection and Reporting Mechanism of Counterfeit Notes – Monetary Policy Statement 2012-13
- MVAT- Latest Suspicious Dealers List of 1155 Dealers
- Transfer Pricing – In Realm of evolution – Part II
- Clarification on service-tax payable where invoice raised before 01.4.2012
- Download ITR-1 (SAHAJ) & ITR-4S (SUGAM) Return Preparation Software
- IT Raids on Nithyananda Madurai Adheenam
- Download Amendments to Finance Bill 2012 as passed in lok Sabha
- Budget 2012- Tax on Subsidiarisation of Indian branches of foreign banks
- Prosecution for dishonoured cheques possible against Company & its functionaries – SC
- Use of words on a product package, even though they may not serve as brand names, would amount to infringement, if identical or similar to prior registered trademarks
- Non-brand use amounts to trade mark infringement
- Notional interest on deposits paid by employer to landlord cannot be considered while computing perquisite value of residential accommodation
- How to Verify Digitally Signed Certificate on MCA21 portal
- Empanelment with DFCCIL for Maintenance of Accounts
- Empanelment with HPGCL for preparation of Fixed Assets Registers & physical verification of assets
- Portable Provident Fund A/c numbers coming soon
- Calcutta HC strictures CLB member for ‘copy and paste disease’, ‘non-application of mind
- Registration of institution u/s 12AA cannot be cancelled if its receipts from trade, commerce, etc., exceeds Rs.10Lakhs/Rs.25 Lakhs limit u/s 2(15)
- Maternity Benefit Act, 1961
- RRBs – Interest Rates on FCNR (B) Deposits
- Foreign investment in Commodity Exchanges & NBFC Sector – Amendment to FDI Scheme
- Enforcement of Intellectual Property Rights on imported goods – Clarification on the issue of parallel imports
- FDI in India – Issue of equity shares under FDI scheme allowed under Government route
- No Case of Data Leak & Refund Frauds Detected Due to Outsourcing of Infotech Functions by IT Department
- Value of Assets Seized in Searches Conducted by Income Tax Department Stood at Rs. 905.61 Crore in 2011-12
- Clarification on AIRCEL Issue
- Non-furnishing of PAN by payee caused delay in filing of e-TDS return, penalty for such late filing not to be levied
- Analysis of Budget 2012 proposals, Changes & effects
- ICSI – Applicability of Schedule VI of Companies Act, 1956 for June 2012 Examination
- Exemption to LTCG on sale of unlisted securities in IPO + STT 0.2% on Such Sales
- Budget 2012 – Clarificatory amendments do not override provisions of DTAA
- GAAR – Advance Ruling Applies, Onus on Department, Change in Constitution, Applicable from AY 2013-14
- CBR Register case for Alleged Impersonation , Bribery & for Conducting Searches
- Govt withdraws Excise Duty on all precious metal Jewellery
- Retrospective amendment to Sec. 9 not applicable where assessment order already passed
- No TCS on Cash purchase of Jewellery upto Rs. 5 lakhs
- Exemption from service tax for specified service in the negative list extends to Agricultural produce
- Work Contracts definition enlarged to include movable properties
- Withdrawal of TDS on purchase of Immovable Property
- LTCG from sale of unlisted securities in case of NR / Private Equity Investors, to be taxed at 10%
- Lower rate of withholding tax of 5% on fund augmented from foreign borrowings extends to all businesses
- FM Budget speech dated 7-5-2012 on Finance Bill, 2012
- DVAT – Notification dated 23.03.2012 applicable only for movement of goods in pursuance of interstate sale, stock transfer & export
- MVAT Notification regarding entry C-12 -Bidy & D-12
- ICAI found irregularities in operations of MNC Audit firms
- MVAT Notification under Scedule entry C-75A- Poultry equipments
- Anti-dumping duty on imports of Viscose Filament Yarn, originating in, or exported from, China PR for a further period of five years
- MVAT Notification for ECS of Refund and Mandate form to be submitted by Dealer
- Exemption to notified class of investors from tax on consideration received by a closely held company in excess of the fair market value of its shares
- Foreign exchange remittance limit for miscellaneous purposes without documentation raised to USD 25000
- Transfer of Funds from NRO account to Non- Resident External Account
- ECB Policy – Utilisation of ECB Proceeds for Rupee Expenditure
- Notification No. 32/2012 – Section 35AC, read with Explanation (b) thereto of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes
- Now, browse Internet on Train for free without Data Card
- Housing Loans Come With Twin Benefits
- Company Law – Substitution of Forms 23C and 23D
- Filing Offer Documents under SEBI ICDR Regulations, 2009
- Earning capacity of deceased should be taken in account while calculating loss of income to family
- Service tax liability can be shifted – SC
- Irregularities in Sesa Goa Firm
- Custom Duty Exemption to Cut & polished diamonds sent abroad & re-imported
- ICAI – No Change in Schedule of Paper 4 of PCE Exam
- Policy Rate Reversal After 3 Years to help in Investment Revival – FM
- Future Implementation of XBRL
- IRDA – Amendment in Salary & Allowance payable to & other Terms and Conditions of Services of Chairperson and other members
- Permission for registration of contracts for export of cotton (Tariff Codes 5201 and 5203)
- Lesser Known tax saving tips
- RBI removes ceiling rate on export credit in foreign currency
- RBI raises Interest rate ceiling on Foreign Currency Non-Resident deposits of banks
- RBI takes measures to ease foreign currency flows
- DGFT withdraws suspension on Registration Certificates for export of cotton
- Guidelines For Speedy Sanction Of Prosecution Of Public Servants
- Exim Bank’s Line of Credit to the Government of Democratic Socialist Republic of Sri Lanka
- Exim Bank’s Line of Credit of USD 70 million to Government of the Republic of Congo
- DGFT revises ITC (HS) Code of 6 existing products
- Norms of ECB and FDI for real estate sector
- Pre-Payment Penality on Home Loans
- Apex Costing body wants Statutory Recognition for Profession
- Employers can now submit EPF subscription online
- Empanelment with HUDCO of CA Firm for 2012-2013 for Branch Audit
- HC asks ICAI to allow disabled CA examinee to take kins’ help in exam
- New Income tax return filing to create more hassles
- DVAT – No more half yearly/yearly returns, compulsory on line 2A/2B
- Inaccurate TDS returns may attract Penalty up to Rs. 1 Lakh
- Guidelines for setting up Infrastructure Debt Fund for the purpose of exemption u/s. 10(47)
- CBDT – ‘Vodafone was Warned’
- CBDT constitutes advisory group for International Taxation
- ICAI to start E-Diary in Articled Training
- How to translate your emails in Gmail?
- ISA Course Assessment Test on 23rd June 2012
- Aircel Ltd stake sale – Government Denies Allegations
- Post Office Agent Commission on Savings Schemes
- Fake Income Tax Raid at Saharanpur
- Exim Bank’s Line of Credit to the Government of Republic of Burundi
- Intra-bank Deposit Accounts Portability
- Priority Sector Lending-Indirect Finance to Housing Sector – Increase in Limit to 10 lakh
- SEBI – Auction calendar for allocation of FII debt limit
- Monetary Policy Statement 2012-13 – Exposure to Housing, Real Estate and Commercial Real Estate – Primary (Urban) Co-operative Banks
- Guidelines on Implementation of Basel III Capital Regulations in India
- Seeks to amend Notification 21/2012 – Customs, dated 17-03-2012
- Seeks to amend Notification 69/2011 – Customs, dated 29-07-2011 thereby exempting specific goods when imported into India from Japan
- Anti-dumping duty on imports of Partially Oriented Yarn originating in, or exported from, China PR
- Regarding Issue of ‘proper officer’ under the Customs Act, 1962
- Notification No. 39/2012 – Customs (N. T.) – Amends Notification No. 36/2001-Customs(N.T) dated 3rd August 2001
- Customs – Regarding classification of Micro / Mini SD Cards
- Two 15 Days GMCS Programme for CA students from 01.05.2012
- ICAI – Feedback of Candidates on Question Paper-Chartered Accountants Examinations, May 2012
- Clarification regarding withdrawal of provision of revalidation of RCs by RAs for export of cotton and cotton yarn
- Online transmission of DES (Advance Authorization), DFIA and EPCG at ICD CONCOR, Tondiarpet, Chennai, Tamilnadu (IN TVT 6) w.e.f. 08.05.2012 – regarding
- Regarding File applications for 53 SEZ ports codes
- Amendment in Appendix 1 of HBP Vol. I (Appendices and Aayat Niryat Forms), 2009-2014
- Amendment of SION of Food Products (Code ‘E’) in the HBP V.2 (2009-14) – Re-numbering of SION E – 1A as E – 131
- Amendment of SION of Food Products (Code ‘E’) in Handbook of Procedures V.2 (2009-14)
- Amendment in policy for export of Casein and Casein products
- Regarding services provided by the Agricultural Produce Marketing Committee (APMC) /Board
- Display of Citizens Charter in all buildings of Income Tax Department
- Lump sum sales tax on brick klin owners on the basis of production capacity unconstitutional
- Tenancy Rights’ and action under SARFAESI Act, 2002?
- General Circular No. 7/2012- Name Availability Guidelines, 2011
- ICSI – Waiver of Transaction Charges for Online Payments to the Institute
- Rates of income-tax in respect of incomes liable to tax for A.Y. 2011-12
- The Employees’ Provident Funds And Miscellaneous Provisions Act, 1952 (Act No. 19 of 1952)
- CBI arrests JCIT, Raipur in bribe case
- Punishment not prescribed under the statutory rules cannot be imposed
- Difference between Finance & Operational Lease
- Delhi HC on What is Make Available Technical Service?
- Explanation to s. 37(1) not apply if unaccounted business is not an illegal business
- How to Send free SMS from Gmail
- Empanelment with IIFCL Ltd. for Internal Audit
- Corporate Debt Restructuring Mechanism – Need to Review/ Re-Define the Policy
- Know your STD Code
- Download EMI Calculator & EMI in Terms of FD & RD
- TDS on Salary – Rate & Provisions A.Y. 2012-13
- Rate of exchange of conversion of each of the foreign currency wef 1st May, 2012
- S. 36(1)(ii) Without Evidence AO can not presume Commission paid as Dividend
- If recipient of services is required to pay service tax than provider of services not required to pay
- Whether section 127(2) transfer order is invalid for want of reasons referred to Full Bench
- Section 10A / 10B deduction allowable without set off of losses of non-eligible units
- Till 6-7-2009 refund would be governed by conditions under the Notification No. 41/2007, dated 6-10-2007
- Related Party Transactions & Legal Provisions
- 10 Consequences of Non compliance with TDS provisions
- Common return for ER-1, ER-3 & ST-3, Change in ST Return Periodicity – Govt invites suggestion
- Reason for Mismatch of TDS & Correction Statement
- Issues which may invite TDS surveys & inspections
- Direct & Indirect Tax Updates for CS June 2012 Examination
- Excel Tips – Square root and cube root in Microsoft Excel
- How to rectify, calculate & aviod interest on TDS defaults
- S. 37 Allowability of Business Expenditure & case laws
- Meaning, Formation, Taxation, Membership & Partition of HUF
- MVAT – Submission of annexures by dealers who are not required to file Audit Report in Form 704
- FAQ on Profession Tax (PT) in Maharashtra
- Can a Person be tried twice for same offence?
- S.147 Change of opinion if AO not specifically apply his mind? Referred to Full Bench
- Amendment to S. 40(a)(ia) retrospective – ITAT Follows HC
- Loss due to fluctuation in foreign exchange liabilities allowable
- Cost of construction based upon actual expenditure most appropriate for computation of capital gain
- CBI Clarification in Case of Alleged Clandestine Silk Imports in Collusion with Senior Customs Officials
- Priority Sector Lending-Indirect Finance to Housing Sector
- NIL Service Tax Return late filling penalty – BAAP RE BAAP
- Section 139(5) – Revised Income Tax return
- Must components in your Salary to minimise tax burden
- Meaning of Turnover or sales for Tax Audit
- Tax Planning- Save tax through your family
- Income Tax – Provisions of Section 269SS & 269T
- Partial and Full Partition of Hindu Undivided Family (HUF)
- Procedure for Conversion of Partnership firm into company
- All about High Seas Sales
- Download FUV file from NSDL Website to revise e-TDS return
- Excel Tips – Number of Days, Weeks, Months & Years between Dates
- Assessment or Reassessment Notice U/s 148
- All about Annual eFiling with ROC
- Section 54EC NHAI Capital Gains Bonds 2012-13 – Tax Benefits
- Tax on Service relating to transportation of goods
- Tax on Service relating to transportation of passengers
- Service Tax on Financial sector
- Service Tax on Services by way of renting of residential dwelling for use as residence
- Make Auspicious Investing Today – It’s Akshaya Tritiya
- Interest leviable u/s 234B on income computed u/s 115JB
- Principles for interpretation of specified descriptions of services
- RTI – ITAT Member’s Corruption Charges Can Be Disclosed
- Order not dealing with finding of sham transaction is erroneous, cryptic, perverse & laconic
- Punjab VAT Dept, launches drive to survey unregistered dealers liable to be registered
- No Profession Tax on salary upto Rs.5000 pm in West Bengal
- Depreciation on computer accessories & peripherals allowable at 60%
- Diesel prices linked with market rates , Prices my go up
- Trinity to make financial stability possible
- External Commercial Borrowings (ECB) for Civil Aviation Sector
- Appointment of Common Adjudicating Authority -Notification No.36 / 2012 – Customs (N.T.)
- Notification No. 35 /2012 – Customs (N.T.) to amend Notification No.12/97-Customs (N.T.)
- How to Combine VLookup and Match formulas in Microsoft Excel
- Draft Guidance Note on Revised Schedule VI
- Agricultural Income – Tax treatment / Taxability
- TDS – Payment Due Date & Mode
- Service Tax Payment Rate Chart & Rules
- S. 32 Understanding Deprecation with latest case laws
- MVAT – TDS for Unregistered Dealers-Increase in Rate to 5 %
- S.14A ITAT disallowed expenditure for year prior to AY 2008-09
- Pre Rule 8D Expenses to earn Exempt Income to be disallowed on reasonable basis
- E-Payment of Maharashtra Value Added Tax (MVAT) – FAQs
- Empanelment with Punjab Infotech for Third Party Audit
- Tender for Appointment of Concurrent Auditor at J&KState Health Society Under NRHM for FY 2012-13
- S.148 Notice – Whether Revenue required to verify change in address of assessee
- Charitable Trust – Deduct Depreciation to arrive at income for application
- Service Tax on Specified services relating to education
- Service Tax liability of registered charity on their activities & covered activities
- Service Tax on Transmission or distribution of Electricity Service
- Service Tax on Entry to Entertainment Events and Access to Amusement Facilities
- Service tax on Betting, gambling or lottery
- No Service Tax on Access to a road or a bridge on payment of toll charges
- No Service tax on Selling of space or time slots for advertisements other than advertisements broadcast by radio or television
- Taxability of bundled services under Service Tax
- Service Tax on Any process amounting to manufacture or production of goods
- Service Tax on Trading of goods & Related services
- Service Tax on Services relating to agriculture
- Service Provided by RBI is Exempt from Tax
- MVAT – Carry forward of refund upto Rs.1 lakh for the F.Y. 2011-12 to F.Y. 2012-13
- Guidelines on Credit Default Swaps for Corporate Bonds-Permitting All India Financial Institutions
- Amendment in Notification No.12/97-Customs (N.T.) dated 2nd April, 1997
- Form 49A, Form 49AA , PAN Correction / Reprint Form – Excel Utility
- Taxability of Motor Acccident Compensation & Interest
- Assesee only can decide whether or not to incur expenditure
- Analysis of S. 50C of Income Tax Act, 1961
- S.56 pertaining to gifts, deemed gifts / under-valuations
- Budget 2012- Post Budget Suggestions by ICAI
- Study Team to suggest Common Tax Code for Service Tax & Excise
- S. 40(b) Interest on deposits for availing bank guarantee is business income
- Tippers, vibrator & vibrator soil compactor are commercial vehicle
- S.54B Deduction denied for failure to prove Agricultural Activity
- PIL against alleged mistakes in CA Final November 2011 Exams
- S.36(1)(iii) Disallowance if assessee has significant interest in subsidiary business
- Income of Foreign University under affiliate agreement for providing distance educational courses in India not taxable as Royalty
- S. 2(47) Conversion of tenancy into ownership is ‘transfer’
- TRAI Mandates one tariff plan on Per Second Billing basis
- No functional incomparability if TPO not reject a comparable on same ground
- Principle of mutuality cannot be destroyed just because funds not parked with members
- Difference between premium paid by Company & surrender value not taxable in the hands of Directors
- Definition of ‘Service’ As Proposed in Finance Act 2012
- What if Employer refuses to issue TDS Certificate / Form 16
- Advance Tax Provisions, Payment Challan & e-payment Utility
- Bonus stripping – Way to Save tax
- Consequence of not having PAN
- TDS on Bank Interest – Things to Know
- Interest & Remuneration to Partners U/s. 40(b)
- Deduction U/s. 80U for disabled persons
- What’s better- Trust, Society or s.25 Company?
- Know case status pending at HC on Mobile
- Failure to pay advance tax attracts interest
- Tax benefits for senior citizens
- FM defends Retrospective Tax Amendments
- MICR & IFSC Code on Passbook /Bank Statement mandatory
- When articles gifted for personal use do not amount to foreign contribution
- Reporting Requirements of NBFCs
- SEBI Timeline For Submission of Annual Audited Financial Result of FY 2011-12
- Instructions for May 2012 CA PCE, IPCE & Final students
- ICAI Post Budget 2012 memorandum on Indirect Tax
- Excel utility – West Bengal WCT Certificates Form 18
- TDS on Salary Calculator for F.Y. 2012-13
- Fresh ECB can be raised at a higher all-in-cost under approval route
- ICAI – Check Status of Refund of Excess Exam Fee
- Advisory services is technical services under Article 13.4 of India-French DTAC
- Critical issues under SARFAESI Act, 2002?
- ITAT explains law on netting of Provision for bad & doubtful debts
- S. 80P not applies to District level Central Cooperative Bank
- Denial of deduction u/s. 80P(2)(a)(i) of I-T Act, 1961
- Due date for uploading of MVAT Returns
- Enhancement in Refinancing limit for Power Sector & ECB for Maintenance & Operation of Toll systems for Roads and Highways
- EOI For Setting up State Medical & Health Infrastructure Development & Procurement Corporation
- Empanelment with Zilla Parishad Jhunjhunu & Sawaimadhopur
- Bank Rate adjusted to 9.00 per cent wef April 17, 2012
- General Provisions of Tax Audit U/s. 44AB
- Advantage of Online Income Tax Payment
- Form 26AS – Rectification of Errors & Omissions
- Automatic Due Date Reminder for F.Y. 2012-13
- Operation of Rule 8D only from 2008-09 onwards
- S. 90(2) applies to the extent beneficial to assessee
- Problems in Credit For TDS & Form No.26AS
- Correction/ revision in TDS Return more than once
- Corrections in TDS payment challan if TDS return already filed
- Assessee can choose between treaty rate & 115A
- Section 50B Slump Sale Need Not be a Sale
- 3rd Member opinion binding on Account member
- S.50C not applies to transfer of booking rights
- ITAT may dismiss appeal for want of prosecution
- Conditions for Taxability of Services under Service Tax
- Exempt Services & Exemption from Service tax
- FAQ on Housing Loan & Income tax benefit
- Companies in Aviation Sector Allowed to Avail of ECBS for Working Capital Requirements
- ECS (Debit) mandate management procedure by banks
- Seeks to amend Notification 09/2012 – Customs, dated 09-03-2012
- Seeks to amend Notification 12/2012 – Customs, dated 17-03-2012
- Quarterly Return for those paying 2 per cent excise duty
- Section 80C – Investment in Residential House Property
- Investment under section 80C
- All about Public Provident Fund Scheme (PPF)
- Excel Bill Book for Service Tax Assessees
- Conditional Exemption from Income Tax Return Filing
- Automatic Form 16 with Rupee Font A.Y. 2012-13
- Empanelment with State Health Society Chennai For Concurrent Audit
- Empanelment with Project Implementation Unit, Gujrat
- Alterations in the Schedule XIV in respect of Intangible Assets
- TDS on Salary Calculator A.Y. 2012-13
- Excise – Regarding admissibility of exemption under area-based Notification No. 56/2002-CE dated 14.11.2002
- Maintenance of Records Under Service tax
- Indian Trade Classification(Harmonised System) of Export and Import Items, 2012 [ITC(HS),2012]
- Accounts of Proprietary Concerns – I-T return of sole proprietor & Utility Bills included in KYC
- Real not notional tax effect to be considered while computing monetary ceiling for appeals filed prior to 15.5.2008
- Proposed Disclosure Framework for the Annual Business Responsibility Report
- Liberalization in ECB Policy Relating to Refinancing of Rupee Debt for Power Sector
- IDBI Bank loans become cheaper following 25 bps reduction in Base Rate
- Allowing ECB for Capital Expenditure on the Maintenance and Operations of Toll Systems for Roads and Highways
- No Foreclosure Charges/Prepayment Penalty on Floating Interest Home Loan
- Section 80C – Eligible Investments and Expenses
- Authorised Dealer Category II – Permission for additional activity and opening of Nostro account
- Rate of TDS on Salary – FY 2011-12, AY 2012-13
- Form 16/16A v/s 26AS online annual statement
- How to verify correctness of TDS Certificate
- House Rent Allowance (HRA) taxability, working / calculation
- Empanelment with DGET for Selection of Audit Firm for Special Audit of ITI Expenditure in Maharashtra
- Empanelment with Water Resources Department for Internal Audit
- Petro Companies wants to Raise petrol prices by Rs. 9.6 rupees a litre
- Information about TAN in Q.A. format (Updated)
- s.40(a)(ia) apply only to expenditure remaining payable
- S. 50C Not Apply To Asset held as Stock-In-Trade
- Amendment to s. 40(a)(ia) retrospective from 1.4.2005
- Assessment Order u/s. 153 Without JCIT Approval void
- Variation in Interest Rates on Deposits to be Minimal – RBI
- RBI stuns with big rate cuts
- Banks to open saving A/c with minimum common facilities without the requirement of minimum balance
- No S.271(1)(c) penalty in absence of finding that return filed is incorrect or erroneous or false
- Cenvat credit of input service falls in the same category of taxable service as that of output service up to 13.05.2003
- Extension of exemption U/s. 10B available to units existed prior to 01.4.1999
- Just Imparting training to Officers of a organizations does not amount to rendering Management Consultancy service
- Unique Customer Identification Code for Bank Customers in India
- Usance interest paid under letter of credit liable for TDS
- RBI Monetary Policy Statement 2012-13 – Interest rates to Come Down
- Highlights of RBI Monetary Policy 2012-13
- Despite Offering Income In S. 148 ROI, S. 271(1)(c) Penalty Leviable
- RBI reduces repo rate under LAF to 8.0 per cent
- Vodafone issues notice to Indian government over violation of Investment Protection Treaty
- ICAI invites to be checker for CA Exams
- ICAI defers applicability of Auditing Standard SA 700 (Revised), 705, 706 to 1st April, 2012
- Equipment belongs to vendor imported in India cannot be transferred to other on winding up of company
- Interests of Investers Needs Protection-Dr. M.Veerappa Moily
- RBI raises borrowing limit of SCBs under the MSF from 1 per cent to 2 per cent of their NDTL
- Download Revised Form 49A Excel Auto utility
- RBI amends Repo, Reverse Repo & Marginal Standing Facility Rates
- Transactions only in money or actionable claims do not constitute taxable service
- Service Tax on services by an employee to the employer
- Service Tax – Negative list of services
- A. P. (DIR Series) Circular No. 107 – Anti-Money Laundering (AML) / Combating the Financing of Terrorism (CFT) Standards – Money changing activities
- A. P. (DIR Series) Circular No. 108 – Cross Border Inward Remittance under Money Transfer Service Scheme
- TDS Rate Chart for F.Y. 2011-12, 2010-11, 2009-10
- Section 44AD – Is it really a palpable transformation?
- Procedure – Lower / Nil rate TDS deduction Certificate
- How to download online TDS Certificates in Form No. 16A
- Mode of Issue of TDS certificate in Form 16A
- ITAT denies exemption U/s. 80P to Co-operative Bank as his area of operation not confined to a Taluk
- No need to Pay Cess – SC Order for Trust in Maharashtra
- Change in tariff Value of Gold, Silver, Crude / RBDPalm Oil, Poppy seeds
- Income Tax Benefits on Various Plans of LIC
- Empanelment of CA firms for Internal Audit of Indbank
- Service Tax – Meaning of the term consideration
- MAVIM invites bid from CA firms for Audit
- Service tax on ‘transfer of right to use goods’
- New Auto Pan Correction Utility in Excel
- Service tax – Significance of the phrase carried out by a person for another
- Are Government and local authorities liable to pay service tax?
- Taxability of composite transactions which in addition to a transfer of title in goods involve an element of provision of service
- Empanelment with Indian Institute of Management Ranchi for a/c related work
- Revised Formats for Disclosure of Financial Results of Listed Companies
- Empanelment with ICAI for programmes to be organized by the Committee for Capacity Building
- Empowering Growth of Emerging Enterprises
- Macroeconomic and Monetary Developments in 2011-12
- Regulations for Standard Proposal form in Life Insurance
- Rajasthan VAT – Works Contract Exemption Fees
- Transfer of Right to use Goods – Deemed sale or service?
- S.195A not bar oral agreements or arrangements for payment of tax free incomes
- Income Tax Settlement Application U/s 24C can not be revised
- Sending Annual Reports of Companies through E-Mail- Green Initiative
- Maharashtra LA Bill No.XVII of 2012
- Uncertainty over exemption U/s. 54EC
- ITR1 ITR2 ITR3 ITR4S ITR4 in excel & Pdf format – FY 2011-12 / A.Y. 12-13
- Online Change-Correction in Pan – Revised Guidelines
- Inauguration of Aayakar Sampark Kendra by FM at Jangipur, Murshidabad, West Bengal
- Powers of Company Law Board to ascertain information under section 397/398?
- Format for Excise and Service Tax Return & changes in Return Periodicity
- Key Requirements and Changes in New ITR Forms
- Reprint of PAN Card – Revised Guidelines, Instructions, Procedure
- Land do not form part of Block of Assets & cannot be treated as short term capital assets
- S. 80G registration can be rejected for conducting Bhagwat Katha
- Benefit of ‘nil’ annual value u/s 23(2) available to HUFs also
- Late Filing or Non filing of TDS Statement Made Costly
- No S.271G penalty for benign reasons in the nature of procedural issues provided taxpayer maintained substantial documentation in support of its ALP
- Profit on sale of Compulsory Convertible Debentures taxable as interest
- Delhi High Court rejects Bail plea of Delhi CX Commissioner in Rs. 60 Lakh Bribe Case
- Trading Strategies for investments in Stock market
- Listed public and private sector companie must increase public holding by 25 % by August 2013
- New thinking required in areas such as Investor Education and Protection, Corporate Governance, Corporate Social Responsibility & Competition Law -PM
- Order No. 67 of 2012- Transfer & Promotion of ACIT Probationers
- Processing of investor complaints against listed companies in SEBI Complaints Redress System (SCORES)
- Uploading of the existing clients’ KYC details in the KYC Registration Agency (KRA) system by the intermediaries
- SEBI Guidelines for Business Continuity Plan (BCP) and Disaster Recovery (DR)
- Seeks to extend validity of notification No. 112/2007-Customs, dated 30.10.2007 by one more year
- Seeks to extend validity of Notification No. 96/2007-Customs dated 29.08.2007, upto and inclusive of 18.03.2013
- Seeks to levy definitive ADD on phosphoric Acid of all grades when imported from Israel and Taiwan
- Seeks to rescind the notification no. 04/2012-Customs ADD dated 13-01-2012
- Brickwork Ratings India Pvt. Ltd. accredited for risk weighting Banks’ claims for Capital Adequacy Purposes
- Annual Financial Inspection – Priority Sector Loans – Misclassification by Banks
- S.40(a)(ia) not applicable to amounts paid by 31st March
- Guidelines for engagement of Standing Counsels to represent Income-tax Department before HC & other judicial forums
- ACIT, Guwahati appointed prescribed authority for S.108(1A)(a) of Companies Act,1956
- Best practices of writing a cheque correctly
- ACB arrests CA for accepting bribe
- CBDT detects Undisclosed income exceeding Rs. 9,200 crore
- Acceptance of NEFT inward for credit to Loan Accounts
- MVAT – Composition Dealers other than works contract composition not to submit Annexures
- Constitution of Dispute Resolution Panel (DRP) at Delhi & Mumbai
- Branch is not the PE in respect of the business done out of the supplies made by foreign principal
- Amount received from sister concern cannot be treated as unexplained only on the basis that sister concern shows lower profit
- Non TDS on sale of product
- Transfer Pricing – Segmental accounts of assessee required to be considered for determination of assesses profit to total cost from international transaction
- Union Cabinet approves Public Procurement Bill, 2012
- Setting up of Special Purpose Vehicle to be called Goods and Services Tax Network (GSTN SPV)
- Amendments of the Registration of Births and Deaths Act, 1969
- Proposal to revise the existing rates of royalty on coal and lignite
- VAT / Sales Tax Payable on sale of Flats – Bombay HC
- MVAT E-Annexures for non-VAT Audit Dealers
- Exim Bank’s Line of Credit of USD 150 million to the Ecowas Bank for Investment and Development (EBID)
- Allocation of debt limits for investments in Government / corporate Debt Old & Government Debt Long Term category to FIIs
- Application for allotment of New PAN in Form 49AA by foreign citizens wef 08.04.2012
- Application for New PAN (Form 49A) for Indian Citizens wef 08.04.2012
- E-filing of income tax returns compulsory if income above Rs 10 lakh
- Referencer on Customs Circulars (2011–2012)
- Referencer on MCA Circulars 2011-2012)
- Referencer on Service Tax Circulars (2011-2012)
- Referencer on Excise Circulars (2011–2012)
- Commission to CMD for personal guarantee may be treated as ploy to divert funds
- Loan Waiver Results in Reduction of Asset Cost for Depreciation
- Excise – Applicability of Interest on refund of pre-deposit amount
- Amends Notification No.12/97-Customs (N.T.) dated 2nd April, 1997
- ICAI Zone-shifting of candidates for May – 2012 CA Exams
- Corrigendum to Notification No. 37/2003-Customs (N.T.) dated 3rd June, 2003
- Income Tax treatment of Gratuity
- New One Page Form for New PAN Card or/And Changes or correction in PAN Data
- Constitutional Validity of tax on service rendered in relation to lotteries promoted or marketed by Clients
- CORRIGENDUM to Notification No. 37/2003-Customs (N.T.) dated 3rd June, 2003
- CORRIGENDUM to notification No. 118/2009 – Customs (N.T.), dated the 6th August, 2009
- Committee to review Scheme for Electronic Refund of Service Tax to Exporters
- Circular 1 of 2012- Consolidated FDI Policy Document
- S. 263 Revision -CIT must give finding on merits & cannot simply remand to AO
- Govt to make Payment above Rs.25,000 directly to bank account of payee
- CBEC detects Service tax & Excise Evasion of Rs. 10286.73 Crore
- Constitution of Committee to frame National Corporate Governance Policy
- CCI penalises Schott India for for violating provisions of Competition Act
- Notification seeking to grant a concession enabling schools to re- employ teachers cannot be treated as conferring any rights on the teachers to continue in employment till the age of 62 years
- RBI ask banks to pay 8% interest for loss due to late receipt/delayed credit of interest warrants/maturity value of Relief/Savings bonds
- Govt to examine possibility of a Common Tax Code for Service Tax and Central Excise
- 16A for TDS deducted after 1st April 2012 to be issued only through TIN
- Service tax rate on Air Ticket Issued before 1st April 2012
- CESTAT Orders to be dispatched within three days
- Transfer Pricing – In Realm of evolution – Part I
- FEMA – Rupee value of Special Currency Basket fixed at Rs.70.965327 with effect from March 13, 2012
- Excel Tips – How to round a number to thousands with hundreds shown as decimal
- S. 2(22)(e) Registered shareholder must also be beneficial shareholder
- Changes in MVAT Act 2002 by Recent Budget
- Ideal Work Place of a Chartered Accountant
- Low Tax Effect Circular retrospective & do not have Cascading Effect – HC
- If Prima facie demand raised has no leg to stand, it should be stayed fully
- Document Required for PAN Application for Indian Citizen
- Once a company shows in its accounts any money under the head paid up capital than it will be presumed that share has been allotted
- Document Required for PAN Application for Foreign Citizen, NRI
- RBI taken step to expand RTGS and NEFT facility to more banks
- Quick Referencer On Sebi Circulars (April, 2011 – March, 2012)
- CBDT Guidelines for Stay of Demand
- Checklist For Prevention Of Money Laundering
- Quick Referencer On DGFT Circulars -April, 2011 – March, 2012
- Excel Tips – How to Use Vlookup Function
- Co-Operative Society – Taxation – A.Y. 2012-13
- Software Customisation is ‘production’ of computer program and entitled for S. 10B benefits
- Discount on deep discount debentures issued for construction of house property is in the nature of interest & allowable
- ITAT on Meaning of expression ’may be taxed’ used in India’s tax treaties
- Quick Referencer On LLP Circulars (April 2011 – March 2012)
- Excel Tips – Calculate Years, Months, Days elapsed from a certain date in Microsoft Excel
- Residential Status & scope of total Income
- Major Changes in Revised / New Schedule VI
- Checklist & Resolutions for Appointment of Managing Director
- Petitioner cannot approach Court just a week before the dated fixed for the examination – HC
- Auto Cancellation of Excise, Service tax Registration for non filing of Returns
- EPFO introduces Electronic Challan cum Return (ECR) Service
- Download, know, FAQ on Form 15G & 15H
- Investment Limit in Capital Gains Bond u/s 54EC
- Budget 2012 – Direct Tax Proposals Highlight
- Excel Tips – How to Find duplicates items in combine columns in Microsoft Excel
- Refusal To Give 30 Days For Tax Payment Is High-handed & Unlawful – HC
- S.14A does not apply to shares held as stock-in-trade
- s.148 notice beyond 4 years without compliance of s.147 & s.151(2) not valid
- Holding of classes not mandatory to qualify as educational institution
- HC Warns AO on Tax Recovery Mania for not following guidelines
- KBC Winner – HC asks to not to take extra legal steps of threatening or inducing assessee for tax recovery
- Surcharge Not dependent on liability to pay income tax but on assessed tax
- Any service used by manufacturer directly or indirectly in or in relation to manufacture of final products constitutes input service
- If past decisions were in favour of Assesee till contrary decision failure on the part of the assessee acceptable as a bona fide error and cannot be attributed to be wilful intention to evade tax
- Consortium formed by non-residents for bidding for a turnkey contract taxable as AOP
- Under Regulation 73 company required to file report on repayment to investor with SEBI
- TDS,Income Tax, HRA, Arrears Relief U/s 89(1) Calculator FY 2012-13
- Excel Tips – How to Calculate number of minutes between dates – time in Microsoft Excel
- What You Need to Know About CA-CPT Exam?
- Getting relief from DRT under SARFAESI Act, 2002?
- View Tax Credit Statement / Form 26AS Online
- How to apply online for Profession Tax Registration
- West Bengal – Entry Tax on Goods – wef 01/04/2012
- Rajasthan – VAT Returns Due date of 2010-11 extended to 30-04-2012
- New Schedule VI In Excel with B/S, P/L, Notes, Disclosures, Comparison with Old
- Service Tax Return / Payment – Monthly, Quarterly, Half yearly?
- Form-16 in Excel Format AY 2012-2013
- Harmonisation of Service Tax and Central Excise Registration
- Proforma promtotion to Additional CITs on deputation As CITs
- ITAT deletes Addition to Income of Kapil Dev on protective basis in respect of income from undisclosed sources
- AAR Implements GAAR – Held Selective share buy-back as colourable transaction
- S.54EC limit of 50 Lakh applies to FY not to transaction
- Interest paid by PE of foreign bank to H.O. deductible in hands of PE, But same interest taxable in hands of H.O.
- S.32 Business information, contracts, records are “intangible assets” & eligible for depreciation
- Excel Tips – Formulas to calculate Loan payments in Microsoft Excel
- FM to meet protesting jewellers on 6th April
- ICAI further extends CPC registration date to 9th April, 2012
- S.80HHC – DEPB credit falls under s. 28 (iiib) & DEPB premium falls under Section S.28(iiid)
- Sub sections (2) & (3) of S.14A workable only wef date of introduction of Rule 8D
- CBDT Objects To UN Model DTA Agreement 2011
- ICAI extends Last Date for Empanelment of Observers for May 2012 CA Exam
- Authorised Dealer Category II – Can open only one Nostro account for each currency
- FM to inaugurate Direct Taxes Regional Training Institute complex, Bangalore on 8th April
- Attention Students -Appearing June, 2012 session of CS examinations
- Hazardous Waste (Management, Handling and Transboundary Movement) Rules, 2008, issued under the Environment (Protection) Act, 1986 (29 of 1986)
- Exposure Draft of General Purpose Financial Reporting XBRL Taxonomy Based on Revised Schedule VI for Commercial and Industrial Companies
- Empanelment with Pragathi Gramin Bank for concurrent audit
- ITR Submission Changes in Comparison to A.Y. 2011-12
- PPF Interest Rate increased to 8.80% p.a. & 5 year SCSS, 2004 to 9.3% p.a.
- ITR-V Submission Due Date & e-Filing in F.Y 2011-12 – Quick Statistics
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- Excel Tips – How to Copy Paste only Values from one cell to another?
- Banks to work full day this Saturday
- Disputed Excise Duty liability cannot be allowed without actual payment of the same
- Expenses deductible in the year of TDS payment if TDS been paid after the due date prescribed u/s. 201
- Clarification regarding classification of structural components of Boiler and admissibility of CENVAT credit on these structural components – reg.
- FEMA – Data on import of Gold – Statements – Modification
- Systemic risk assessment – The cornerstone for the pursuit of financial stability
- Revised Schedule VI in Excel Format – Balance Sheet, Profit Loss A/c, Notes
- Who is required to File Return Online Compulsorily for AY 2012-13?
- PPT on Budget 2012 – Service Tax/ Excise/ Customs / GST
- Empanelment with Dena Bank for Concurrent Audit for 2012-13
- How to apply online For Obtaining Profession Tax Registration or Enrolment Certificate
- CA CS CWA to pay Service Tax on Accrual Basis if Turnover exceeded Rs. 50 Lakh
- Transfers of Hon’ble ITAT Members (March 2012)
- Excel Tips – Most useful Keyboard Shortcuts
- Uploading the MVAT and CST Returns for period ending on 31st March 2012
- Updating of Income Tax PAN details in MCA21 DIN DATA by 30th April 2012
- Which ITR should be used & by whom for A.Y. 2012-13?
- ITR 1 (Sahaj) – Who can & who cannot use?
- Validity of extension for export of 6,50,000 tons of wheat products upto 31.03.2013
- Demand to return amount essential ingredient to constitute offence punishable u/s. 138 of NI Act
- NEW MVAT & CST Return Templates , Due Dates for March 2012 Returns
- S.10A, Eligible business is to be considered as a separate entity
- If assessee owns asset and used for business purpose during the relevant FY, then depreciation allowable
- CMA – President Communiqué April, 2012
- Companies must obtain permission to operate FCA abroad
- Use of International Debit Cards/Store Value Cards/Charge Cards/Smart Cards by Resident Indians while on a visit outside India
- Exposure Draft of Guidance Note On Cost Accounting Standard on Packing Material Cost (CAS-9)
- Amends Notification No.18/2012-Central Excise, dated 17th March, 2012
- SEBI approves listing of stock exchanges
- Amends Notification No. 36/2001-Customs(N.T) dated 3rd August 2001 vide Notification No. 30/2012 – Customs (N. T.)
- Central Excise (Third Amendment) Rules, 2012 – Amends Rule 7,11,22 of Central Excise Rules, 2002
- Amends Notification No. 101/2004-Customs (N.T.), dated the 31st August, 2004 vide Notification No. 29/2012 – Customs (N. T.)
- Amendment in Excise Duty rates of Food grade hexane,Naphtha
- Anti-dumping duty on imports of non radial bias tyres, tubes & flaps originating in, or exported from, China PR and Thailand
- Individual – HUF having Foreign Assets to File Return Online & not in ITR -1 or ITR 4S
- ITR 1 In Excel with Tax Calculation FY 2011-12
- Individual HUF having income more then 10 lakh to File Return Online
- Revised Rule 12 Specifying Applicable ITR and mode of Return Filing for AY 2012-13
- Commodity Market – For Beginners
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- Cheque Valid only for 3 months from Today
- Vehicle insurance premium, Telephone calls, restaurant bills to cost more
- Excel Tips – How to Automatically highlight maximum and minimum values?
- If immovable property is situated in India, gains also taxable in India
- Income Tax Calculator for Salaried FY 2012-13
- ITAT restricts disallowance u/s 14A for earning exempt dividend to 1% of dividend
- Prepare Form 16 for FY 2011-12 in Excel
- How to Register with EPFO & FAQ
- Know /Check Your EPF Balance online
- Excel Tips – How to Automatically format cells (e.g. change font color) based on a certain condition?
- New ITR forms asks details of foreign assets & accounts
- Maharashtra Budget – FY 2012 -2013 – Key proposals
- Branch Audit of Public Sector Banks for 2011-12
- Service Tax Rate on Bills raised or Payment Recd. before 01.04.2012
- Govt can’t arbitrarily allot public wealth – SC
- Indian Government Accounting Standard 3 on Loans and Advance made by Governments
- MVAT – Amendment to Schedules A, C, and D as per Budget Speech 2012-13
- MVAT – Amendment to Rule 53(3)-Increase in rate of reduction on Branch Transfer by 2 per cent
- Empanelment of Stock Auditors & Valuers with United Bank of India
- No More Incentive of 80% Depreciation on Wind Mills Installed after 31-3-2012
- Statutory Bank Audit – Charge 12.36% Service tax
- Bank Audit 2011-12 Revised Fees and Time Limit
- Income Tax Offices to remain open on 31st March
- Pay more for travel in AC-First Class, AC-2 Tier, Executive & First Class from Tomorrow
- S. 54F Exemption if house construction not completed within 3 Years?
- MCA – Pay later option for Challans
- Online TAN & Consolidated TDS/TCS Request
- Banks to accept tax payments beyond banking hours
- Excel Tips – How to Combine Text from Multiple Cells?
- Taxability of Provident Fund -Recognized, Unrecognized & Statutory
- Income tax Calculator for FY 2012-13
- Excise Duty on Unbranded Jewellery Items of Precious Metal W.E.F. 17-03-2012
- NRI and TDS on income earned in India
- Whether the transfer of goods as a contribution for capital be considered as Sale?
- S. 80-IB(10) Multiple Housing Projects On 1 Acre Plot Permissible
- Participatory Note holders not liable to pay tax in India – FM
- Mere making of claim, which is not sustainable in law, by itself, not amount to furnishing inaccurate particulars
- Internet around the world may shut down today
- Fema – Review of all-in-cost (AIC) on External Commercial Borrowings (ECB) and Trade Credit
- Deduction for Short fall cannot be rejected merely because securities were valued as per RBI notification
- No appeal before ITAT if tax effect less than Rs. 3 lac
- S.43B Payment of licence fee in the nature of rent is not a statutory levy
- Trust Registration cannot be cancelled for unexplained expendture incurred on the objects of trust
- Waiver of Interest u/s. 234A, 234B and 234C for dealyed filing of Return and tax payment
- Impact of Privacy Policy Changes by Google
- RBI decides to permit non-bank entities to setup, own and operate ATMs
- Frequent Change of CRR
- CIT (A) required to dispose of appeal on merits instead of dismissing
- Amendment in rule 12 of Income Tax Rules & substitution of forms Sahaj (ITR-1), ITR-2, ITR-3, Sugam (ITR-4S), ITR-4 AND ITR-V
- IRDA – Declaration of Bonus under Section 49 of the Insurance Act, 1938
- IRDA – NAV Delaration for application received on 31st March, 2012
- IDBI Bank reduces floating Interest Rates on Home Loans up to 75 bps
- ICAI – President’s Message – April 2012
- Bank should release all securities on receiving payment of loan or realization of loan
- PMLA act and rules do not support account portability
- IRDA approves all life insurance products before being offered for sale
- SEBI have six credit rating agencies (CRAs) registered with it
- Banks have Unclaimed Deposits of Rs. 2481 Crore
- Premium Rates for Motor Third Party Insurance Liability only cover – 2012-13
- Exemptions from 100% promoter(s) holding in demat form
- SEBi issues Broad Guidelines on Algorithmic Trading
- RBI Releases Discussion Paper on Introduction of Dynamic Provisioning Framework for Banks in India
- All-in-cost ceiling for trade credit of 6 months Libor + 350 bps to contiue till 30th September 2012
- All-in-cost ceiling for ECBs of 6 months Libor + 350 bp to continue till 30th September 2012
- Discounting of Bills by UCBs – Restricted Letters of Credit (LC)
- Prescriptions regarding ceiling rates on export credit in foreign currency and overseas line of credit to continue till September 30, 2012
- Discontinuation of Supplying Printed GR forms by Reserve Bank
- Budget 2012- Analysis of Income Tax Provisions
- Budget 2012 -Service & Income Tax Provisions
- Issue of coins to commemorate the occasion of “150th year of the Comptroller and Auditor General of India”
- Check TDS credit status online
- Excel Tips – How to Split Contents of Cells?
- Private Sector in Passport Work do only only non-sensitive functions
- CBI Arrests Customs Superintendent For Accepting Bribe
- Clarification Regarding Mega Power Project (MPP) exemption
- Aayat Niryat Form 2E(ANF 2E) – Application for Special Chemicals, Organisms, Materials, Equipment and Technologies (SCOMET) Export Licence – Introduction of Provision for On-line filing
- SLBC website – Standardisation of information/data
- Refund of 4% CVD (SAD)-Extension of time upto 30th June 2012, for using re-credited 4% CVD (SAD) amount in DEPB-Regarding
- SEBI Review of Regulatory Compliance and Periodic Reporting
- Seeks to amend Notification No.16/2011-Cus (N. T.), dated, 1st March, 2011
- Goods manufactured by EOU out of raw materials supplied another EOU and subsequently cleared to DTA – Eligible for benefit of Notification No.8/97-CE – SC
- Indian Rail – Online Reservation of Concessional Tickets , Wi–Fi Facility &: 3 New Acts
- Little known schemes u/s. 80C of Income Tax Act
- Buy home to reduce Income Tax burden
- Income Tax Refund stuck – Steps to take
- Income Tax raid- What to do?
- Form 16 Salary Certificate – Is It different from Form 16A?
- Myths and misconceptions about Personal Income tax
- Changes in Service Tax- Union Budget 2012
- Excel Tips – How to Prevent Duplicates while entering data
- Clarification on Point of Taxation Rules
- Budget 2012- Burning Issues In Direct Taxes
- After 18.04.2006 assessees not entitled to utilize Cenvat Credit for payment of service tax on GTA
- Rate of tax shall be of the date of receipt of payment if the assessee has chosen to pay tax on the advance amount received
- Appointment of ITO as ACIT – Order N0. 60 of 2012-Ad.VI
- Interest under Sections 234A, 234B and 234C can be levied on assessee who is a notified under Special Court Act
- Penalty u/s. 271F applicable for failure to funish return u/s. 153A
- Validity of notice u/s 148 for re-opening of assessment when jurisdiction was founded merely on the possibility of escapement
- If transaction is sham, it cannot be considered as tax planning
- ITAT upholds important transfer pricing principles on characterisation and rewards for selling activity
- Regarding payment of arrears from Cenvat Credit earned at a later date
- S. 195 -Reimbursement of Salary to Overseas Parent Company attracts TDS
- Budget 2012 – Service Tax on Construction Industry
- Overseas Direct Investments by Indian Party – Rationalisation
- Amended provisions of S.194I related to TDS for the purpose of S. 40(a)(ia) applicable from AY 2007-08
- Sec.14A & Rule 8D Disallowance Cannot Exceed Total Expenditure
- Now, have an enemy list on your Facebook account
- Applicability of S.194 when client makes payment to an advertising agency
- No TDS u/s. 194H on commission or brokerage payable by BSNL or MTNL to their PCO franchisees
- India not a no-tax country – FM
- Overseas Investments by Resident Individuals – Liberalisation / Rationalisation
- Rate of exchange of conversion of each of the foreign currency with effect from 1st April, 2012
- Tax Concession on Education Loan u/s. 80E
- Due date for investment in property for S.54 exemption in case of revised return
- Is India a Tax Hell?
- Proposal of 10 Services under Reverse Charge Mechanism in Service Tax Law – Are these TDS provisions in Indirect Tax Law?
- 5th Corrigendum to Notification No.12/2012-Cus dated 17th March, 2012
- Goa CM reduces petrol prices by Rs. 11 per Liter
- Deduction u/s. 80DD for expenses incurred on maintenance/ medical treatment of a disabled dependant
- Form 15H/15G to Avoid TDS deduction
- TDS under section 194B on winning from Lottery
- Taxation of Derivatives
- Search, Seizure and Survey Simplified
- Assessee can ask for application of correct rate of Depreciation during Assessment
- Unlocking Provisions of Public Provident Fund (PPF)
- No interest disallowance For advances given to group and subsidiary companies out of commercial expediency
- Highlights of Karnataka Budget for FY 2012-13
- Training expense of employee cannot be treated as capital expenditure
- Govt may modify GAAR if required
- SBI hikes fixed deposit rates by upto 1%
- Rs 2.73 lakh crore of outstanding income tax dues locked up in tax disputes
- Provisions of Foreign Contribution (Regulation) Act, 2010
- Changes made to the UN Model Convention and Commentary in the 2011
- Soon NPS subscriber can exercise their individual choices regarding investment pattern & pension fund manager
- Govt collects 1.14 lakh Crore Excise duty from Tobacco Products in first 10 month
- CENVAT Credit (Fourth Amendment) Rules, 2012 – Notification No. 21/2012 – Central Excise (N.T.)
- Extension of prohibition on export of Pulses (except Kabuli Chana and 10,000 tonnes of organic pulses) upto 31.03.2013
- Procedure for refund / revalidation of DEPBs/Reward Scrips for re-credit of 4% CVD (SAD)
- Revised Treaty of Trade between India and Nepal – Circular No. 961/04/2012-CX
- Amends Notification No. 64/1994 dated 21st November, 1994 vide Notification No. 25/2012 – Customs (N. T.)
- Draft Manual on the functioning of Official Liquidators
- S. 80-IA Of The Income-Tax Act, 1961 – Deductions – Profits And Gains From Industrial Infrastructure Undertakings, Etc. -M/s. Creative Infocity Limited
- Education Loan – Eligibility Criteria for interest subsidy
- Prosecution for Concealing Income & Measures for Checking Out-Flow of Black Money
- Not legally feasible for banks in India to undertake Islamic banking activities in India
- Methodology for Transfer of Risks amongst Members of Indian Motor Third Party Declined Risk Insurance Pool and declaration of ultimate loss ratio for 2011-12
- IRDA Notification on Daily Declaration of NAV
- PPF, NSC, PO MIS & Smrall Savings Scheme Interest rate wef 1st April 2012
- Foreign CA firms cannot operate in India without registering with the ICAI
- Excel Tips – How to create Drop Down list
- Service Tax Rates wef 1st April, 2012
- Maharashtra Budget 2012 Highlight, Download Speech
- Misconception – e-filing of Income Tax Return
- All about Payment of Gratuity Act 1972
- Know status of Income Tax Return filed online
- Not filed Your IT Return? File it now.
- Payment received / receivable by the applicant in connection with IVTC Services are taxable as FTS
- Tax Provision in India in 2025
- TDS, Advance Tax & SA Challan Status on Mobile
- S. 43B – Deductions only on Actual Payments
- Residential Status and taxability of Income
- In computing book profit u/s 115JB, S.14A not apply if expense to earn exempt income not debited to P&L account
- If tax effect less than Rs.1 lakh Department should not file appeal before Tribunal
- Addition can not be made merely on the basis of information from Director of Income-tax (Inv.)
- Provident Fund Calculator for Govt employees
- IRDA – No proposal to shift the insurance sector to a paperless model
- Proposal to modify defination of term ‘foreign company’
- ICAI forms expert panel to address statutory bank branch audits queries
- Regarding Applicability of exemption under Sr. No. 4 of the Notification 4 / 2006 – CE dated 1/3/2006 on import of Ore Concentrates
- Implementation of XBRL
- CCI Advocating for Competition Coherent Government Policies
- ICAI request members to restore membership by 31.03.2012
- Guidelines on Fair Practices Code for NBFCs
- RBI issues Clarifications on The Banking Companies (Nomination) Rules, 1985
- Deemed let Out property – ALV cannot exceed standard rent under Rent Control Act
- Uses and Misuses of Statistics
- Finance Bill 2012-13- Service Tax Highlights
- Finance Bill 2012-13 – Direct Tax Highlights
- Excel Tips – alternative to Cell comment
- Baseline Report on Efforts of Government in Tackling Black Money
- CBEC Clarifies On Levy of Excise Duty on Precious Metal Jewellery
- Download Outcome Budget 2012-13
- IASB issues amendments to IFRS 1
- Deposit of award amount into court is nothing but payment to credit of decree holder – SC
- In fraud cases despite settlement court can prosecute offenders for criminal offence -SC
- Grant of family pension to next eligible member in the family in the case of missing family pensioners
- Banker Defrauds Chartered Accountant
- I-T department will not act like a policeman, DTC to to be made operational by 2013 -FM
- Management, Maintenance Or Repair Service – Application of Service Tax on Tyre Retreading Activity
- IF applicant has taxable income in India he is required to file tax return and tax need to be withhold on payment to him -AAR
- No tax withholding on remittance by Indian head office to foreign branch; Tax holiday available on sales made by Indian head office to foreign branch
- Benefit of S.10A attaches to undertaking & not to assessee who owns undertaking
- Expenditure having no nexus with the earning of tax free income can not be disallowed u/s. 14A
- Genuineness of advances received towards booking by the various persons in the earlier years
- Calculate your Portfolio in real time on Excel
- ITAT treats appeal filed by revenue as unadmitted/dismissed for non persecution
- Payment of interest in addition to price is nothing but an integral process of acquisition of shares
- DRP Revised Constitution w.e.f. 21.03.2012
- CBDT’s List Of Potential Promotees to Post of Assistant CITs
- CBDT Sets Up ‘Advisory Group for International Taxation and Transfer Pricing’
- Interest rate on GPF Increased to 8.6 % wef 01.12.2011
- Dismantling of Indian Motor Third Party Insurance Pool [IMTPIP] Loss Reserve, Solvency and Accounting issues
- Constitution of a Committee to formulate a Policy Document on Corporate Governance – General Circular No. 6/2012
- Online Rectification Request to rectify intimation U/s. 143 (1) from CPC, Bangalore
- Section 144C of the Income-tax Act, 1961 – Dispute Resolution Panel – Reference to – Constitution of DRP at specified places – Modification of Order No. 1/FT&TR/2012, dated 21-1-2012
- 1% Excise Duty on Articles of Jewellery – Budget-2012
- Caretaker, servants cannot claim ownership of property – SC
- Expert Opinion should be given due importance – Beneficial notification should be given liberal interpretation
- 4th Corrigendum to Notification No.12/2012-Cus dated 17th March, 2012
- 1st and 2nd Corrigendum to Notification No. 12/2012-CE dated the 17th March, 2012
- Assessee entitled to deduction u/s.801C on amount disallowed u/s.40(a)(ia)
- If liabilities are outstanding provisions of sec.41(1) not attracted
- Terrace Letting Income is income from house property
- Merely on the ground that local purchase bill or custom clearance receipt not produced, genuineness of gift cannot be disputed
- Section 89(1) Salary Arrear Tax Relief Calculator
- Budget 2012 – Not Much for Capital Market
- Stay Application – AO should pass reasoned orders
- While deciding stay Application AO Has To Be Fair To Assessee
- HC laid down Guidelines for effecting Income Tax Recovery
- Deduction u/s.10A not allowable if company is formed by splitting and reconstruction of the existing business/undertaking
- Arbitration agreement cannot take the criminal acts out of the jurisdiction of the Courts of law
- RBI Monitoring Rupee Situation – FM
- Book Rail Ticket through Mobile Phone
- S. 80TTA – Deduction in respect of interest on deposits in savings account
- Minimum rates of wages under Minimum Wages Act, 1948
- Lessor has no right to decline to receive possession and demand accrued rent
- S.80G No deduction if donation in cash exceeds ten thousand rupees
- Motor Vehicle Tax and base of tax structure
- Govt approves 7% additional instalment of Dearness Allowance (DA) to central government employees
- Statutory Bank Branch Audit for advances above & Below Rs. 6 Crore
- Regarding Pre-Shipment Inspection Agencies (PSIA) – Public Notice No.104 (RE-2010)/2009-2014
- Recruitment of Sports Persons to the posts of Tax Assistants, Notice Servers & Multi Tasking Staff
- In remand, s.14A disallowance cannot exceed original disallowance
- Success in profession measured not by the fortune made but on the threshold of learning – Delhi HC
- Impact of Budget on Common Public
- Monitoring Committee for Vanishing Companies
- Mandatory under Companies Act, 1956 for all companies to submit Annual Returns, Balance Sheet etc
- Budget Booklet for FY 2012-13
- Change in Tariff Value of Gold Notified
- 3rd Corrigendum to Notification No.12/2012-Cus dated 17th March, 2012
- 2nd Corrigendum to Notification No.12/2012-Cus dated 17th March, 2012
- Amends notification No. 124/2007-Customs, dated 31st December,2007 so as to continue, up to and inclusive of 27th March, 2013, the anti-dumping duty on imports of Flat Base Steel Wheels, originating in, or exported from, China PR
- Exemption of Assam Comilla Cotton [ITC(HS) Code 5201 00 12] from export restriction on cotton during the current cotton season upto 30.09.2012
- Amendment in SION A-1778 – PUBLIC NOTICE NO -103/2009-2014(RE 2010)
- Change in Tariff Value of Silver Notified
- Service Tax (Amendment) Rules, 2012 – Amendment In rules 2, 4A and 6 – Corrigendum to Notification No. 3/2012 – ST, dated 17-3-2012
- ICSI Important Announcement – Last date of Registration / Examination Enrolment
- S. 80IB(10) Once the project is approved by the local authorities, then deduction has to be allowed on the whole of the project
- Commission to Directors as per Companies Act, 1956 authorised by Shareholders allowable
- Excel Tips – How to insert comment in a cell and how to change the user name in cell comment
- SBI offers new, lower rates to old home loan borrowers
- Profits from participation of cargo under ‘Slot Arrangement’ not eligible for benefit of Article 8 of India-Germany tax treaty
- Shares held by the nominees cannot be considered as held by assessee – S. 47(iv) relief not available if Assessee do not hold 100% of subsidiary
- Online Empanelment with Central Bank of India for Concurrent Audit Assignments
- S.148 notice after 4 years not valid if Assessee disclosed full & true particular of claim at the time of original assessment proceeding
- Change in Name of Bombay, ‘Calcutta Madras High Court under govt consideration
- Deduction U/s. 10(10D) available on Life Insurance Policy sum received from foreign Insurance Company
- ATM is a computer equipment depreciation allowable at 60%
- Single transaction cannot be accepted in part as speculative transaction and part in non speculative transaction
- Addition on the basis of Diffrence in TDS and Commission – Reimbursed expenditure cannot be taken as income
- Expenditure on addition or augmentation of profit making apparatus the nature of the expenditure would be capital
- Post Finance Bill approval Vodafone have to pay tax – Finmin
- Impact of Cancellation of 2G Licenses
- Fair Rent, Actual Rent Received and Standard rent – ITAT referred back to AO to verify additional evidence
- Highlights of Finance Bill 2012 – Service Tax
- Highlights on Union Budget 2012 – 2013 – A corporate glance
- Wife’s money deposited in assesses account can not be treated as unexplained
- Loan against Only Gold can not be more then 60 percent of Value
- Foreign Exchange Management (Deposit) Regulations, 2000 – Credit to Non Resident (External) Rupee Accounts
- Supply to non mega power projects shall not be entitled to any deemed export benefit
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Notification No.S.O.406(E), dated 9-3-2012
- Service Tax Reverse Charge Mechanism requires more clarifications on works contract service
- Lump sum scheme for payment of service tax in works contract
- SC dismiss Govt petition to review Vodafone judgement
- How to Apply Passport online
- IPL kingpin Lalit Modi declared bankrupt
- Seeks to amend Notification No. 12/2012-Customs, dated the 17th March, 2012
- List of 26 cases of Corporate Frauds
- TDS calculator for Salaried for Financial Year 2012-13
- Changes in CENVAT Credit Rules in Union Budget 2012-2013
- E- I Transaction – Process Note and Documentation
- Direct Tax highlights of Union Budget 2012-13
- Are Directors Liable To Service Tax And Tax Audit As Per Union Budget 2012-13?
- Tax Planning under section 80C & 80E
- Service Tax on advocate to be Paid by client
- Job Work, Advocate, Man power Supply, Transport etc. Service Receiver made liable to pay service tax
- Service tax Exemption to service involving import of technology
- Abatement from Service tax and Conditions for same on specified services
- List of 34 services Exempt From Service tax
- Taxation of services based on Negative List – Service Tax (Determination of Value) Amendment Rules, 2012
- Service tax on Works Contract – Composition rate increased to 4.8% from 4%
- Section 65(105)(zzzp) of the Finance Act, 1994 – Transport of goods by rail – Exemption to specified services – abatement for transport of goods by rail
- Transport of goods by rail service – Exemption to specified goods – Amends Notification No.8/2010-ST dated 27.02.2010 effective date extended to July 2012
- Exemption to transport of goods by Rail further extended
- INDIA’S neighbours must be alarmed by yet another, sizeable rise in its defence budget
- 60% Abatement to Services provided by Air Craft operators for domestic or International Journey
- Service Tax – Small service provider – Aggregate value defined in terms of invoices issued instead of payments received
- Budget 2012 – Amendment in Point of Taxation Rules
- Amendment in Service Tax Rules 2, 4A &6 – Increase in time limit to raise bill to 30 days
- Rescinds Notification No. 8/2009 –Service Tax dated 24.02.2009 – Effective rate of 10% withdrawn from 01.04.2012 – Making the effective and tariff rate 12%
- Amends Notification No. 42/2011 – Service Tax dated 25.7.2011 – Coop societies included in exemption
- Exhaustive Analysis of Changes in Service Tax with Rules, Guidance notes, new Forms and FAQ
- Mukul Roy is New Union Railway Minister
- Clarification – Prior intimation to RBI to raise aggregate FII / NRI limits for investments under PMS
- IRDA mandates prior approval before launch of new Insurance product
- ICAI Request to share contact details of Members in Entrepreneurship & Public Services
- ICAI Request for providing Contact details of the Members of ICAI engaged in Co-operatives & NPO Sectors
- 5% duty made 6%. Notification No. 2/2011 – CE dated 1.3.2011 amended. Sl. Nos 34 and 35 of the table again omitted, which were already omitted by Notification No. 43/2011 – CE dated 30.12.2001
- Effective Rate of 12% and 6% Excise Duty fixed for many items for which the Tariff Rates also been reduced
- Rescinds three Excise Duty exemption notifications
- 1% Excise duty enhanced to 2% – minor changes made in Notification No. 1/2011 dated 1.3.2011
- SSI Exemption for the remaining part of 2011-12 for articles of jewellery of heading 7113 – tariff value to be the basis
- Chewing tobacco, Zarda Scented Tobacco and Unmanufactured tobacco in pouches: Duty enhanced – Notification No. 16/2010 – CE dated 27.02.2010 amended
- Pan Masala, Gutkha – Duty Per Machine Increased – Notification No. 42/2008 CE dated 01.07.2008 amended
- Concessional rates of duty vide Notification. Nos 3/2005-CE dated 24.2.2005, 3 to 6/2006-CE, all dated 1 st March, 2006, 10/2006-CE dated 1.3.2006; 2/2008-CE dated 1.3.2008; and 59/2008-CE dated 7.12.2008 – merged into a Single Notification
- Effective rate of NCCD for cigarettes – Notification No. 11/2012-Central Excise
- Effective rates of duty for cigarettes – Notification No. 10/2012-Central Excise
- Effective rate of additional duty of Rs. 70 per thousand fixed for cigarettes
- Ready Made Garments – Returned and cleared without duty – certain conditions changed – Notification No. 31/2011 dated 24.3.2011 amended
- Extension Of Submission Date / Addendum To Request For Proposal (Rfp) For Pre-Audit Of Central Subsidy Claims Of Capital Investment And Transport Subsidy In Respect Of Ner States
- Cotton Goods 5% Excise duty enhanced to 6%. Notification No. 29/2004-CE dated 09.07.2004 superseded
- Excise Exemption to goods used for armed forces – raw material for bullet proof helmets added – Amends Notification No. 64.95-CE dated 16.03.1995
- 10% Excise duty made 12% and 5% made 10% in Notification No. 23/2003 – CE dated 31.03.2003
- DGFT – Scrutiny and revalidation of Registration Certificates(RCs) for export of cotton
- Changes in rate of Service tax on Money Changers
- Customs (Import of Goods at Concessional Rate of Duty for Manufacture of Excisable Goods) Rules, 1996, amended
- Duty Fee Baggage Allowance for passengers above ten years enhanced to Rs. 35,000 from Rs. 25,000 and for those below ten years from 12,000 to 15,000
- Acetate tow and Filter Rod – Exemption from Prohibition – Amendment to Notification No. 16/2011 Custom NT dated 1.3.2011
- ICWAI Empanelment form for Observers for the Foundation, Intermediate & Final Examination to be held in June 2012
- RBI to conduct Special same day Clearing on March 31, 2012
- Lead Bank Scheme – District Consultative Committees – Inclusion of Director of MSME-DI
- Implementation of asset classification and provisioning norms for NBFC-MFIs deferred to 1st April 2013
- Seeks to amend the Chewing Tobacco and Un-manufactured Tobacco Packing Machines (Capacity Determination and Collection of Duty ) Rules, 2010
- Advance Pricing Agreement (‘APA’) Provisions in Budget 2012-13 – An Overview
- Service Receiver to Pay Service Tax under New reverses charge mechanism (Must Read)
- Five Custom Notifications rescinded vide Notification No.22/2012- Customs
- Effective rates of SAD – Notification No. 20/2006-Customs, dated the 1st March, 2006 superseded
- Custom Exemption to dredgers – Notification No. 20/2012-Customs
- Exemption to dredgers – Notification No.19/2012-Customs
- Project Imports Regulations – Certain new items added
- Project Imports – Certain new items added – Notification No . 42/96-Customs, dated the 23rd July, 1996, amended
- Custom Duty Exemption to goods imported for manufacture of certain finished goods
- Exemption from Customs Duty – Minor changes in Notification No. 25/2005-Customs, dated the 1st March, 2005
- Secondary and Higher Education Cess on CVD exempted
- Education Cess on CVD Exempted
- Rate of Custom Duty on 521 items
- Exemption to goods used for armed forces – raw material for bullet proof helmets added – Amends Notification No. 39/96-Customs, dated the 23rd July, 1996
- A wrong Public Notice No. mentioned in Notification No. 27/2011- Customs, dated the 1st March, 2011, is corrected
- Desptie Retrospective amendment from 1962 no reopening beyond six years – FM
- Amends CENVAT Credit Rules to allow availment of credit on the tax payment challan in case of payment of service tax by the service receiver.
- Amends Notification No.20/2001 CE (NT) dated 30.04.2001,To substitute Section 11AB with section 11AA
- Amends Notification No.42/2001 CE (NT) dated 26.06.2001. To substitute Section 11AB with section 11AA
- Amends Notification No.31/2007 CE (NT) dated 02.08.2007. To substitute Section 11AB with section 11AA
- Amends Notification No.45/2001-CE (NT) dated 26.06.2001. To substitute Section 11AB to section 11AA
- Amends Central Excise (Removal of Goods at Concessional Rate of Duty for Manufacturer of Excisable Goods) Amendment Rules, 2012
- Amends Form ER1 to insert Sl. No.9A – Credit taken from inter-unit transfer of credit under rule 10A of CENVAT Credit Rules, 2004
- Amends Pan Masala Packing Machines (Capacity determination and Collection of Duty) Rules, 2008
- Amends Chewing Tobacco and Un-manufactured Tobacco Packing Machines (Capacity Determination and Collection of Duty) Amendment Rules, 2012
- Fixes tariff value in respect of Articles of Jewellery falling under sub-heading No.7113 of the First Schedule to the Central Excise Tariff Act, 1985 at the rate of 30% of the transaction value declared in invoice
- Artisans or goldsmiths who only manufacture jewellery for others on job-work not need to obtain registration
- Cigarettes, Portland Cement brought under Section 4A of Central Excise Act, Abatement to cigarettes, 35% abatement for all footwear
- Medicinal and Toilet Preparartions – Ad valorem duty increased to 12% from 10%
- Clean Energy Cess – Notification No.1/2012
- Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds – Notified rate of interest on such deposits
- Scheme for Collection of Dues of CBDT, CBEC, DM Account – Reporting and Accounting of March Transactions – Special Arrangements – FY 2011-2012
- Seeks to amend notification No. 2/2011-Central Excise, dated the 01.03 2011
- Corrigendum to Notification No. 18/2012-CE dated – 17th March, 2012
- Corrigendum to Notification No. 21/2012-Customs, dated the 17th March, 2012
- Central govt. employees who were due to get their annual increment between February to June during 2006 may be granted one increment on 1.1.2006 in the pre-revised pay scale
- TDS / TCS Rates for Financial Year 2012-13
- Budget 2012 -13 – Income Tax Amendments
- DTC may be effective from 2013-14 – FM
- Direct Tax and Service Tax Proposals 2012-2013
- Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for 2011-12
- Investment in Indian Venture Capital Undertakings and /or domestic Venture Capital Funds by SEBI registered FVCI
- Request to share contact details of ICAI Members in Entrepreneurship & Public Services
- Committee to formulate Policy Document on Corporate Governance -General Circular No. 5/2012
- ICSI Union Budget 2012 Highlights
- Amendment in TDS provisions – Budget 2012-13
- 1st Corrigendum to Notification No.12/2012-Cus dated 17th March, 2012
- Benefits from Setting Up of NCLT and NCLAT
- Income Tax Calculator for AY 2013-14, AY 2012-13, AY 2011-12
- Budget 2012 – Alternate Minimum Tax (AMT) on all non-corporate Assessees
- TCS on transactions of jewellery, bullion, coal, lignite, iron ore
- Seeks to amend Pan Masala Packing Machines (Capacity Determination and Collection of Duty) Rules, 2008
- Budget 2012 – Section Wise Highlights of Proposed Amendments In Income Tax Act
- ICSI June, 2012 Examination SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 applicable
- S. 80IB – CIT V/s. Finolex Cables Ltd. (Bombay High Court)
- Income tax / TDS Calculator for AY 2013-14 / FY 2012-13
- Discussion on Important changes in the Service Tax and CENVAT by Union Budget 2012-13
- Budget 2012- Service Tax – Rule 13- Power to notify services or circumstances, Rule 14- Order of application of Rules
- Service tax Rule 12- Services provided on board conveyances
- Service tax Rule 11- Passenger Transportation Services
- Service Tax Rule 10- Place of Provision of a service of transportation of goods
- Budget 2012- Service Tax Rule 9- Specified services- Place of provision is location of the service provider
- Budget 2012- Service Tax Rule 8- Services where the Provider as well as Receiver is located in Taxable Territory
- Budget 2012- Service Tax Rule 7- Part performance of a service at different locations
- Budget 2012- Service Tax Rule 6- Services relating to Events
- Budget 2012 – Service Tax Rule 5- Location of Immovable Property
- Budget 2012- Service Tax – Rule 4- Performance based Services
- Budget 2012- Service Tax -Rule 3- Location of the Receiver
- Draft Place of Provision of Services Rules, 2012
- Formalities and Rules for Common Registration for Service tax and Excise and Format of Registration & Return Form
- Comments on Budget 2012-13 by A V Ramanathan
- An Uneventful Budget 2012
- Income tax rates for AY 2013-14/ FY 2012-13
- Union Budget 2012-13 – Indirect Tax Proposals
- Union Budget 2012-13 – Direct Tax Proposals
- Budget 2012 -No service tax on metered taxis, amusement facilities, rail travel
- S.80IA Combined or Individual Activity – Whether the Assessee is entitled to tax holiday for development of the infrastructure development?
- Concession in VAT not applicable after rollback of Rise in Price of Petrol and Diesel
- As per Import and Export Policy for the period 2009-2014 mport of second hand goods except capital goods is restricted and special import license is required
- Assessee entitled to interest u/s.244A of on tax paid in pursuance of the order passed by A.O. u/s.195
- If original return filed in time then b/F losses can be set off in revised Return filed
- Appeal by revenue before ITAT not maintainable if tax effect is not above Rs.3 lakhs
- In all cases where additional evidence is admitted, the CIT (A) should be considered to have exercised his powers u/s 250(4) is not acceptable
- Service tax provisions as amended by Budget 2012
- Budget 2012 – Excise Duty on Textiles & Precious Metal Jewellery
- Budget Analysis 2012-13- Service Tax Proposals
- Budget 2012 – What Citizen of India Get From This Budget
- Budget 2012 – VDIS scheme unlikely, Govt. taken steps to curb black money
- No Tax to be withhold on Server and Web hosting Charges under Indo-USA DTAA
- Financial crises may be exceptional or unavoidable circumstance for cash payment
- S. 80I Dependent Unit Can be New Industrial Undertaking
- General Anti-Avoidance Rules (GAAR) (Implication)
- Section 80A – Another way to trap Renting service providers
- Budget 2012 – Completion of assessment in search cases referred to DRP
- DRP can consider any matter arising out of the assessment proceedings relating to the draft assessment order
- AO Can file appeal before ITAT against order passed in pursuance of directions of DRP
- Filing of return of income, definition of international transaction, tolerance band for ALP, penalties and reassessment in transfer pricing cases
- Post Budget 2012 Service tax rates
- Budget 2012 – New Paradigm in Service Tax
- For Determination of Arm’s Length Price 5% tolerance band not standard deduction
- Transfer Pricing Regulations made applicable to domestic transactions if value exceeds Rs. 5 Cr.
- Examination by Transfer Pricing Officer of international transactions not reported by Assessee
- Extension of time limit for completion of assessment or reassessment where information sought under DTAA
- Tax Residence Certificate must for claiming relief under DTAA and for issue of Form 15CB
- Meaning assigned to a term used in Double Taxation Avoidance Agreement (DTAA)
- Tax & Witholding Rate increased to 20% for non-resident entertainer, sports person etc.
- Budget 2012 – Customs, Central Excise & Service Tax Notifications
- Dividend Distribution Tax and common man
- Related person for the purpose of making an application before Settlement Commission
- Fee for filing applications before Authority for Advance Rulings (AAR) raised to Rs. 10,000
- Not necessary to issue S.132 authorisation or make a requisition u/s. 132A separately in the name of each person in search cases
- Sum received from life insurance policy exempt if premium for any of the years during policy tenure not exceeded 10% of sum assured
- S. 234D applies to proceeding completed on or after 1st June,2003
- Govt to notify class of search cases where compulsory reopening of past six years not required
- Processing of return not necessary where scrutiny notice issued
- Sum or property received by HUF from members not taxable
- Fair market value shall be deemed full value of consideration if actual consideration not attributable or determinable
- Capital gain on amalgamation – No need for issue of share by amalgamated company to amalgamating subsidiary company
- No requirement of issue of shares where resulting company itself is a shareholder of demerged company
- Rate of tax for short term capital gain under section 111A – Correction in proviso to section 111A
- AO can refer valuation officer if in his opinion value taken on 1.4.1981 is higher than fair market value
- HUF eligible to S.54B benefit on Capital gain from sale of agricultural land
- No Capital Gain on Coversion of sole proprietary concern or firm into Company
- S.2 Definition of Commissioner to include Director of Income-tax
- RBI exempt from Wealth Tax
- Assessee liable to pay advance tax on income without deduction or collection of tax
- S.115JB P/L a/c prepared under regulatory Acts shall be basis for computing book profit for insurance,banking,electricity company
- MAT Payble on Gain from disposal of revalued asset even if Gain not credited to P/L a/c
- Due date of furnishing audit report in case of international transactions extended to 30th November
- No Exemption to charitable organization in case commercial receipts exceed the specified threshold
- Extension of time for completion of assessments and reassessments
- Vodafone Effect – All demands on transfer of share of a company registered or incorporated outside India valid irrespective of any judgment
- Extention in time limit for issue of notice to person who is treated as agent of a non-resident
- S. 1945 CBDT may specify taxability of Foreign Payment, Amount Taxable and Tax Deductible
- Retrospective amendment in S.9(1)(vi) to clarify that consideration for use or right to use of computer software is royalty
- Govt amends IT Act w.e.f. 01.04.1962 to bring deals like Vodafone Under Tax Net
- Budget 2012 introduces General Anti Avoidance Rule (GAAR)
- “Person responsible for paying” in case of payment by Central Government or Government of a State
- S. 201 Extension of time for passing an order in certain cases to six years
- Increase in Threshold for TDS on compensation or consideration for compulsory acquisition
- Intimation after processing of TDS statement rectifiable and appealable
- Heavy Penalty for delay & incorrect information in TDS/TCS Statement
- Disallowance of business expenditure on account of non-deduction of tax on payment to resident payee
- S. 201 Deemed date of payment of tax by resident payee is date of furnishing of return of income
- Deduction for interest on deposits in savings accounts up to 10K Rs.
- S. 80D Deduction for expenditure on preventive health check-up not exceeding Rs. Five Thousand
- Senior Citizen Age Reduced to 60 years for S.80D, 80DDB, 197A & for Form 15H
- Extension of sunset date for tax holiday for power sector to A.Y. 2013-14
- Deduction for capital expenditure on specified business extended to three new businesses
- S.35AD Deduction allowable if Assesee transfers the operation of hotel to another person
- Weighted deduction for expenditure for skill development
- Weighted deduction for expenditure incurred on agricultural extension project
- Weighted deduction for scientific research and development available till A.Y. 2017-18
- Power sector allowed initial depreciation at 20% of actual cost of new machinery
- Exemption to income of foreign company received in India in Indian currency from crude oil sale
- Budget 2012 – Important changes in respect of Custom Duty
- Budget 2012 – Important changes in respect of Central excise duty
- Date of Applicability of Amendments in Custom and Central Excise Duty
- Budget 2012- Chapterwise Explanatory Notes on Excise Duty
- Budget 2012- Chapterwise Explanatory Notes (Customs)
- Service Tax Exempted on Copyrights Relating to Recording of Cinematographic Films
- Advance Pricing Agreement Introduced to bring down Tax litigation
- Govt to introduce white paper on means to Curb Black Money
- Service Tax Exempted for Items on Negative List (Check List)
- One Page Common Return for Central Excise and Service Tax Proposed
- Service Tax Rate Raised from 10 Per Cent to 12 Per Cent
- Measures Introduced to Allow Corporates to Access Lower Cost Funds
- Manufacturing Sector Provided Relief in Customs Duty
- PM’s interview on the Union Budget- 2012-13
- Note on Rule 10A of Cenvat Credit Rules
- Budget 2012 – Download Finance Bill 2012
- Proposal to hike basic tax exemption limit and likely beneficiaries
- Download Power Point Presentation on Budget 2012
- Key Features of Budget 2012-13 on Tax Front
- Relief from LTCG tax on transfer of residential property if invested in a manufacturing small or medium enterprise
- Wealth Tax – Salary Limit for Exemption of residential house allotted to employee hiked
- No Dividend Distribution Tax (DDT) on Dividend Payment upto DDT Paid Dividend recd from subsidiary Company
- S. 80C No Deduction on life insurance Premiume if premium payable exceed 10% of sum assured
- Deduction for Donation not allowed for cash donations in excess of ten thousand rupees
- Presumptive taxation not applicable to commission/ brokerage and Income from Agency business
- TDS on payment of interest on debentures Limit raised to Rs. 5000
- STT rate reduced on Delivery Based Share Transactions
- Tax Audit Limit raised to One Crore for business & 25 Lakh for Profession
- Senior Citizens not having Business Income Exempt From Advance tax payment
- Budget 2012 – Provisions relating to Venture Capital Fund (VCF) or Venture Capital Company (VCC)
- Budget 2012 – Lower rate of tax on dividends received from foreign companies
- Budget 2012- Withholding tax rate on Interest Paid on foreign currency loan by Specified Company reduced to 5%
- Budget 2012 – Prosecution and imprisonment for Income Tax Evasion
- Budget 2012 – Penalty on undisclosed income found during the course of search at 10 pc, 20 pc, 30 pc
- Budget 2012 – Reopening time limit Increased to 16 Years for income in relation to asset located outside India
- Amendment in Budget 2012 – Income Tax, Service Tax, Excise Duty, Custom Duty at One Place
- Budget 2012 – Compulsory filing of income tax return in relation to assets located outside India irrespective of Income
- Budget 2012 – No Basic Exemption on Unexplained Income – To be taxed at 30 percent
- Budget 2012 – Onus to prove Source of Fund recd as Share Capital shifted on Company
- TCS on sale of Coal, Lignite, Iron ore
- TCS on cash sale of bullion and jewellery
- Budget 2012 – Directors Remuneration not in nature of Salary to attract TDS U/s. 194J
- TDS on transfer of immovable properties (other than agricultural land)
- Alternate Minimum Tax (AMT) on all persons other than companies
- Income Tax rates for F.Y. 2012-13
- Budget 2012 – Amendments In Excise Duty provisions
- Budget 2012 – Amendments In Customs Duty provisions
- Budget 2012 – Industry wise Changes in Custom Duty rates
- Budget 2012 – Changes in Service Tax
- Budget 2012 – Changes In Rates Of Excise Duty
- Income Tax exemption limit raised to Rs 2 lakh
- Key Features / Highlights of Budget 2012-2013
- Budget 2012 -Speech of Finance Minister Pranab Mukherjee
- Baggage Allowance Increased to Rs. 35,000
- Excise Duty on Large Cars Enhanced from 22 Per Cent to 24 Per Cent
- Basic Customs Duty Reduced in Agriculture & Relataed Sectors
- Full Exemption from Basic Customs Duty Given to Certain Infrastructure Sectors
- Health and Nutrition Gets Major Boost in the Budget 2012-13
- Budget 2012 – Daily tonnage income of shipping company
- Excise Duty on ‘Demerit’ Goods Hiked as a Measure for Additional Resource Mobilisation
- Government Keen on Early Enactment of DTC Bill
- Budget Changes- 2012 in brief By Advocate Rajesh Kumar
- Concessions and Exemptions Extended to Energy Saving Devices, Plants and Equipments Required for Solar Thermal Projects
- Excise Duty on cigarettes,bidis, pan masala, gutka, tobacco, and zarda Hiked
- Union Budget Focuses on Rationalisation Measures in Indirect Taxes
- ECB for Low Cost Housing, Working Capital in Civil Aviation, Part Finance Power Project DEBT
- S.129(6) of the Customs Act – Ex-Tribunal Members Cannot Practice Before Tribunal – SC
- Rates of Interest – RIDF and other funds
- Procedure for scrutiny and revalidation of Registration Certificate for export of cotton [ITC(HS) code 5201 & 5203]
- Submit Articles on budget 2012-13 by E-Mail for Publication
- ICAI invites suggestions on tax proposals of Union Budget 2012-13 and Report of Standing Committee on Finance on Direct Taxes Code Bill, 2010
- Budget 2012 going to be 81st budget of India
- Government reduced interest rate on Provident Fund from 9.5 to 8.25 Percent
- Service Tax refund can be refused on the ground of unjust enrichment
- NBFC – Investments in fixed deposits cannot be treated as financial assets and interest on FD not income from financial assets
- RBI Policy March 2012- No Change in repo, reverse repo rates & CRR
- ICAI requests members to share CPC and TDS related issues being faced.
- Budget 2012- Tax Exemption Limit may be raised slightly
- Applications for stay should not be disposed of in a routine manner unmindful of the consequences
- In Finance Lease Lessor Is Not Owner and only owner can claim Depreciation
- Section 234A, 234B and 234C of Income Tax Act, 1961 in brief with Example
- Budget expectation by Mr. Manish Khanna, CEO, UEI Global Institute
- How High Court’s intervention in SARFAESI ACT matters justified?
- Section 101A of the Insurance Act, 1938 – Re-insurance with Indian re-insurers – Specified percentage & terms & conditions for re-insurance cessions to “Indian Re-insurer” in compliance with section 101A
- Foregoing right to acquire equity shares is transfer and Compensation taxable
- Highlights of Economic Survey 2011-12 – Survey Pegs GDP Growth At 6.9% in 2011-12
- Development of Balanced Score Card management tool is Technical Services under India-Singapore treaty
- Non-compete fees of capital nature entitled for depreciation as intangible asset
- Payments for transponder hire charges cannot be treated as ‘royalty’
- Notice sent by post within time but not served will be deemed as served within time
- Companies Bill, 2011 requires more disclosures/declarations by companies,promoters, first directors at Incorporation
- s.263 Order without giving reson for observing that the order passed by AO erroneous is invalid
- ICAI seeks suggestions to strengthening the portfolio of Practitioners and Firms
- Reopening U/s. 147 even within 4 years, on basis of retrospective amendment invalid
- Excel Tips – How to Quickly fill Blank Cells in a list?
- New Income Tax e-filing call center functional from today with Helpline
- Husband obliged to accord due respect to his wife in society
- Website is intangible Asset and not software
- M/s Dow Chemicals VIS-À-VIS London Olympics
- ICAI National Cost Convention-2012 begins
- Conditions for Indian Citizenship under Citizenship Act, 1955
- RRBs/StCBs/DCCBs – Bank Rate Increased
- Ungrateful children can be denied property: SC
- Notification No. 19/2012-CUSTOMS (N. T.) amending notification No. 36/2001-Customs (N.T.) dated, the 3rd August, 2001
- S. 90 Agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion with Tanzania
- Regarding allocation of work relating to Service Tax procedures to the Service Tax wing of the CBEC
- Notification No. 6/2012 – Central Excise (N.T.) – Dated, 13th March, 2012
- Excel Tips – How to Quickly fill a series of values?
- Regarding ‘Handling of Cargo in Customs Areas Regulations, 2009’
- Offence out of a failure comply with statutory rule and liability will continue until requirement is complied
- Railway Budget 2012-13 – List of New Trains
- Reward for tax info should be reduced on the ground that amount of penalty cannot be determined
- Computation of limitation period begins from the date of expiry of the compliance period as provided by order u/s.234(3A)
- Railway Budget 2012 – 75 New Local Trains for Mumbai
- S. 11B Burden to prove that Excise duty incidence not transferred to customer is on person claiming refund
- Railway Budget 2012-13 – New Passenger Amenities
- Railway Budget 2012-13 – Increase in Fare of All Class Travel
- Railway Budget 2012-13 at a Glance – Download Budget Speech
- Highlights of Railway Budget 2012-13
- Rail Budget 2012 – Live updates
- ICAI National Cost Convention-2012 to focus on Enhancing the long term enterprise value
- Standing Committee on Finance recommends inclusion of cost accountant in the definition of ‘accountant”
- How to apply Address proof card issued by India Post (Postal Identity Card)
- Maharashtra VAT Notification for Sales to Inter Oil Companies-Exemption in excess of 5 per cent
- Mechanism to Lodge Complaints for redressal of grievances with Minister concerned
- Admit cards to students appearing in May 2012 CA Examinations
- Form 15CA,15CB for remittance of payments to non-resident or foreign company
- FAQ on Stamp Duty related to Indian Stamp Act, 1899 and Bombay Stamp Act, 1958
- Reopening on the basis of facts already available at the time of original assessment proceedings invalid
- Notice u/s 143(2) mandatory for validating reassessment proceedings
- Section 271D penalty not imposable if amount received in cash is for Shares
- Colourable device cannot be a part of tax planning, where transaction is sham and not genuine
- Payment of Bonus Act, 1965 in brief
- Tax Recommendations Ahead of Budget 2012
- CBI books Delhi Excise Commissioner and Four Others in Bribery Case
- Pre budget Presidents Address to the Parliament
- Restrictions to be put if a manufacturer,1st or 2nd stage dealer, exporter or merchant exporter found to be involved in tax evasion
- Central Excise (First Amendment) Rules, 2012 to Substitue rule 12CC of Central Excise Rules, 2002
- CENVAT Credit (Second Amendment) Rules, 2012 to substitue Rule 12AA of CENVAT Credit Rules, 2004
- Opening of Diamond Dollar Accounts (DDAs) – Change in periodicity of the reporting
- Deferred Payment Protocols between Government of India and erstwhile USSR – A.P. (DIR Series) Circular No. 91
- Striking a Balance – Credit Penetration and NPA Management – Role of Information Sharing
- Regarding Ban on export of Cotton (Tariff Code 5201 and 5203) – Circular No. 08/2012-Customs
- Circulars – Binding On Department?
- SARFAESI Act -Can Bank adopt unfair/illegal methods to recover its due?
- Deduction under Section 80G of Income Tax Act, 1961 for donation
- Income Tax Calculator for Salaried – FY 2011-12, 2010-11, 2009-10
- Tds / TCS Rates for FY 2011-12 / AY 2012-13
- Enhancing the long term enterprise value- Environment, Society and Governance – Cost Convention
- 3 Ways to View Tax Credit (Form 26AS)
- Original assessment date relevant for Sec. 263 revision on issues outside re-assessment
- S.80IB deduction not available in absence of Factory License
- Part expenditure subject to FBT, cannot be disallowed on the ground that same are not for the purpose of business
- Set-off of Sec 10B units loss against profits from other units allowed
- Reassessment after completion of assessment u/s 143(3) cannot be termed as regular assessment and interest u/s 234D not chargeable
- No reduction in WDV of fixed assets upon waiver of bank loan
- Sale originating in a State is an inter-state sale or not is a question of fact – HC should not have entertained writ petition – SC
- How to change the Address of TAN and communicate I-T Dept
- How to apply for Changes or Correction in TAN Data
- How to apply Online For New TAN
- Duplicate TAN – Which TAN to use and how to get cancelled
- Reopening on the basis of information received form investigation wing Valid
- Regular method employed means method followed in past years which continued to be followed in subsequent years
- Cheques, drafts to be valid only for 3 months from April 01
- Mid-Quarter Review of Monetary Policy 2011-2012 To be released at 11 am on RBI Website on March 15, 2012
- IRDA – Exposure Draft on Servicing of Orphan policies
- In case of additional evidence produced by the Assessee, A.O must be given opportunity
- CS Foundation Programme (New Syllabus) Study Material
- Union Minister of Parliamentary Affairs & Water Resources Pawan Kumar Bansal addresses Press Conference on the Budget Session- 2012
- Roll Back of Ban on Cotton Exports – Anand Sharma meets MPs on the issue of Cotton
- CBDT panel on black money gets third extension
- SEBI – Allocation of debt limits in corporate debt old and Government Debt long term category to FIIs
- Need for amendments to CST Rules relating to submission of ‘C’/’F’ Forms
- Risk Based Internal Audit
- DLF – BCCI (IPL) Sponsorship Service Tax- Case Analysis
- Payments for supply of technical documents taxable as fees for technical services
- Payment for use of equipment is taxable as royalty and its related installation activities is taxable as FTS
- Reimbursements received by a foreign company for travelling expenditure incurred for earning royalty/ FTS income taxable on gross basis under India-Singapore tax treaty
- Expenditure cannot be disallowed merely on the ground that they are on higher side
- S. 12AA CIT can cancel registration even after grant – High profit Ratio cannot be ground for rejection
- Excel Tips – How to Create Shortcuts for commonly used words or phrases?
- Judges Who Outsource Judgements Can Be Dismissed Without Enquiry – SC
- Bureaucratic delays cant be excuse for filing appeal beyond limitation period – SC
- No sec. 195 TDS Liability On Payer If Payee Not Assessed
- Maharashtra VAT – Download Revised List of 1009 Suspicious Dealers
- How to convert Form 16/16A text file (zip file) to Form 16/16A PDF File
- I-T Exemption Limit may be raised to 3 lakh, Highlights of DTC Committee Report,Download Report
- S.154 – A.O. Can rectify Assessment order
- How to Apply TAN, Track Status of TAN Application, fees
- S. 54EC investment time limit begins from date of receipt of consideration
- CA issuing wrong 10CCAC certificate guilty of professional misconduct – HC
- RBI reduces CRR by 75 basis points to 4.75 per cent
- Time for filing DIN-4 form for furnishing PAN extended to 30th April 2012
- Newly Wed Gurgaon CA and Designer Wife Found Dead In Agra
- Railway Minister Announces Introduction of 26 New Trains
- Foreign Donation without Government permission – CBI Registers Case
- Export Grows by 21.4% in April- Feb 2012 at US $ 267.4 Billion: Commerce Secretary
- Exposure Draft of Guidance Note on Performance Appraisal (Form-III of CAR 2011) Report for comments
- IDBI Bank crosses Rs. One Lakh Crore mark in Annual Tax Collection for FY 2011-12
- Symposium on Corporate Social Responsibility
- TRAI Releases Consultation Paper on “Auction of Spectrum” for comments
- Indirect Tax Revenue Collections During April, 2011 increases 14.6 pc
- FAQ – 6 on Cost Accounting Records Rules, 2011 and Companies (Cost Audit Report) Rules 2011
- Notification No.24/2012-Customs – Seeks to amend Notification 12/2012 – Customs, dated 17-03-2012
- Notification No.102, dated 05.03.2012 not applicable for cotton consignment for which Let Export Order(LEO) has been issued up to 2400 hrs. on 04.03.2012
- Reporting Platform for OTC Foreign Exchange and Interest Rate Derivatives
- Regarding Ban on export of Cotton (Tariff Code 5201 and 5203)- Circular No. 07/2012-Customs
- S. 263 Revision – Conflict Amongst Judgments Resolved
- S. 50B – Amount of liabilities being reflected in the negative net worth cannot be added to sale consideration for determining the capital gains on account of slump sale
- Decision of any High Court binding on all subordinate authorities and Tribunals through out India untill contrary view is taken by other HC
- Expectations of Individuals from Budget 2012 on Direct tax
- Latest Announcements from Maharashtra Sales tax department
- Concept Paper on National Corporate Governance Policy, 2012 Prepared by ICSI
- DFIA: applicability of provisions contained in paragraph 4.32.2 of HBP v1 regarding declaration of technical characteristics, quality and specifications at the time of exports
- Role-Check for the Digital Signatures (DSCS) belonging to Authorized Signatories of Banks/FIs
- Highlights of REC Tax Free Bonds
- Merely because the department preferred appeal before the Honble High Court is no ground to take a different view.
- S. 45(3) not permit A.O. to substitute full value of consideration other than the amount recorded in the books of account of joint venture
- Constitution of a Committee to formulate Policy Document on Corporate Governance
- Notification No. 15/2012 – Customs (ADD) dated the 5th March, 2012
- Incidents of Service tax evasion reported by Anti Evasion Unit, Siliguri Commissionerate
- ICAI – Frequently Asked Questions on verification of marks
- Frequently Asked Questions (FAQs) on “Unit Scheme of Examination” of Integrated Professional Competence Examination(IPCE)
- Limit for retail investors raised from Rs. 1 lakh to Rs. 5 lakh for REC Bonds
- RBI declares standard rate at which it is prepared to buy or re-discount bills of exchange or other commercial paper eligible for purchase under that RBI Act
- Tax Treatment – Salary Income, allowances & perquisites
- Taxation of Partnership Firms
- Whether tax deduction would be mandatory under section 195 under export commission paid to non-resident agent, if so, at what rate
- Overlapping in Classification of service for construction of residential building
- Service Tax – Section 76 and 78 prior to May 2008 – Levy of Penalty
- Data submitted on Bancassurance channel and as required under Section 31B (2) of Insurance Act, 1938
- Section 54EC Exemption cannot be denied merely because bonds are in joint names
- S. 54EC Exemption allowed where investment was made after 6 months due to non-availability of bonds
- Section 50 would apply only to cases where ‘assessee’ had obtained depreciation
- Benefit u/s 54EC / 54E available even in case of depericiable asset
- Section 50 nowhere says that depreciated assets shall be treated as short-term assets
- Benefit of indexation not available on depreciable Assets
- S. 54EC limit of Rs. 50L applies to transaction & not financial year
- Clarification Regarding Filing of Conflicting Returns by Contesting Parties
- Art of Internal Auditing!
- Income taxed in the hand of Firm cannot be taxed in the hand of Partner
- No penalty for concealment if addition is based on estimation of Gross Profit
- Mere non-mentioning of Section 234B in the assessment order would be of no consequence
- Cost Inflation Index meaning and Index for all the years
- Brief on formation of NGO, Charitable Trust, Society, Non profit section 25 Company
- In the absence of nexus between sale of agricultural produce and introduction of cash in capital account the addition made by AO was to be upheld
- DGFT – Prohibition on export of cotton(Tariff Codes 5201 and 5203)
- Second Edition of the Status Paper Giving Detailed Analysis of the Government’s Debt Situation Released
- Bank Audit – ICAI request members to avoid circulation of personal views by emails / letters to Government and Regulatory authorities
- Convergence of Indian Accounting Standards with International Financial Reporting Standards –UCBs
- Regarding ban on export of Cotton (Tariff Code 5201 and 5203)
- Registration of companies or LLPS which have one of their objects is to carry on the profession of chartered accountant, cost accountant, architect, company secretary etc.
- Clarification – Liberalised Remittance Scheme for Resident Individuals
- Publication of Daily Lists of Imports and Exports (Amendment) Rules, 2012
- Service tax payable on Gross Amount of Commission
- Income Tax – Relief before Budget
- Salary Income – Who Is Exempted from Filing Tax Return?
- Order passed ex-parte may be refereed back to CIT(A) for fresh consideration if Assessee under the bonafide belief that he duly informed to the Income Tax Department about change in address
- Addition for Gift recd not warranted if Assessee proves identity, credit-worthiness and genuineness of donor
- ITAT may accept additional evidence if same goes to the root of the matter and refer the matter back to A.O.
- Grant of ‘Certificate of Registration’ for carrying on the business of Credit Information – Credit Information Bureau (India) Limited
- Vacancies for Empanelment of Senior / Junior Standing Counsel to represent the Income Tax Department
- DGFT – Grant of export benefits / incentives to export proceeds realized even in Indian rupees – Exports to Iran regarding
- Exemption of Bhutan from the application of export bans by India on export of Milk Powder, Wheat, Edible Oils, Pulses and Non Basmati Rice
- ICICI Bank, Bank of Baroda, CITI Bank and Life Insurance Corporation of India Sign an MoU to Set-Up India’s First Infrastructure Debt Fund
- DGFT – Amendment in the subject of Notification No. 99 (RE-2010)/2009-14 dated 23.02.2012
- As soon as the registration certificate has been surrendered by appellant, duty is cast on the department to verify whether the appellant has rightly gone out of the ambit of service tax or not
- Grievance Redressal Mechanism in Banks – Display of Names of Nodal Officers
- The Framework for Pre-Empting Systemic Financial Risks
- Budget 2012 Recommendations – Exemption 3 lakh, 10 to 20 lakh 20%, Above 20L 30%, increase in 80C Limit
- Outward Indian FDI – Recent Trends & Emerging Issues
- Implications of Basel III for Capital, Liquidity and Profitability of Banks
- Union Budget 2012-13 on March 16, Railway Budget 2012-13 on March 14
- SEBI – Clearing and Settlement of OTC trades in Commercial Paper (CPs) & Certificates of Deposit (CDs)
- Salary Income – Valuation of residential accommodation provided by the employer
- Valuation of Perquisite of Motor Car provided by employer
- Settlement of OTC transactions in Certificates of Deposit (CDs) and Commercial Papers (CPs)
- Grant of ‘Certificate of Registration’ – For carrying on the business of Credit Information – CIBIL
- Tax planning by conversion of stock in trade into capital asset
- Tax treatment of Capital gain on sale of Assets by Charitable Trust/NGO
- Carry Forward & Set Off of Losses – Income Tax
- Duty paid mistakenly on exempted goods not make goods liable to duty – SC
- Prior to amendment, withholding tax proceedings under Section 201 of the Income-tax Act have to be initiated within a reasonable period of four years
- Consideration received for technical services rendered in connection with prospecting for or extraction or production of mineral oil taxable us 115A
- IT support services provided by foreign company using hardware in India taxable as business profits – AAR
- Court order sanctioning a scheme of amalgamation or demerger is an instrument and conveyance liable to stamp duty
- Central Excise – Classification – Povidone Iodine Cleansing Solution USP and Wokadine Surgical Scrub classifiable under Chapter sub-heading 3003 – SC
- MVAT Circular 4T of 2012 – Special measures for revival of sick/closed co-operative sugar factories in the state
- I-T dept to install system to monitor working hours of its staff
- Unless there is a findings that assessee’s investments is not business activity and the funds are not utilized for the purpose of business, disallowance u/s. 36(1)(iii) does not arise
- Draft notification to provide Exemption from ‘Common Proficiency Test’
- When AO has conducted an enquiry and taken a possible view u/s 263, then CIT cannot take a different view
- Decision’ does not merely mean the conclusion, It embraces within its fold the reasons forming basis for the conclusion
- Withholding tax not applicable on interest payable to Company having no PE in India under India-Sweden tax teaty
- Payments for sale of software taxable as ‘Royalty’ under Article 12 of the India-Japan tax treaty
- Clarification regarding levy of Excise duty on branded precious metal jewellery
- Expectations from Budget 2012
- State Govt wants CST rate to be hiked to 4%
- Rules for valuation of perquisite forming part of Salary Income
- Panel suggest increase in exemption limit to 3 lakh and in 80C deduction to 2.50 lakh
- Access details of your ITR on Mobile
- Tax benefit under section 54EC on long term capital gain
- Institute of Cost Accountants of India enters MOU with FCI – Students will be able to undergo Practical Training
- Tax Planning Tips- Your parents can help you save tax / reduce your tax liability
- CWA – Exposure Draft of Guidance Note on Maintenance of Cost Accounting Records for comments
- Capital Gains Accounts Scheme – How, who and where to open, Tax Benefits, Salient Features
- Request for Expression of Interest (EoI) for Cost Audit and Energy Audit of Co Operative Sugar Factories in Maharashtra
- Useful tips to save Income Tax for the Financial Year (FY) 2011-112
- LIC Jeevan Vriddhi – New Single Premium Plan
- CMA – President Communique, March, 2012
- CBEC Invites suggestions regards rising litigation with the taxpayer
- SC Asks HC to consider whether Low Tax Effect Circular has retrospective effect
- ITAT reduces additions made on estimate basis by A.O. for low Household withdrawals
- Gains on buying and selling of shares and mutual funds trading income or capital income – ITAT referred matter back to A.O.
- Waiver of principle amount of ‘non trading term loan’ can not be taxed
- CBDT’s Low Tax Effect Circular discriminatory
- National Litigation Policy to Reduce Average Pendency Time from 15 Years to 3 Years
- Overview Of The Prevention of Money Laundering Act, 2002, Prevention Of Money Laundering Bill, 2011 And The Benami Transactions (Prohibition) Bill, 2011
- DGFT – Amendment in the subject of Notification No. 98 (RE-2010)/2009-14 dated 23.02.2012
- Non-deposit taking NBFCs to report and disclose fraud cases
- New Email id to request Income Tax Account Password reset
- Foreign Institutional Investor (FII) investment in ‘to be listed’ debt securities
- Financial Inclusion by Extension of Banking Services – Use of Business Correspondents (BCs) – DBOD.No.BL.BC. 82/22.01.009/2011-12
- Withdrawal from Provident Fund before Completion of 5 years taxable?
- Clarification – Establishment of Branch Offices (BO) / Liaison Offices (LO) in India by Foreign Entities – Delegation of Powers
- Form 26AS – How to Change email ID/Mobile Number
- Mismatch/missing credits in Parts C of Form 26AS & solution (Other than TDS/TCS)
- How to view TDS Certificate from Form 26AS?
- Reasons for mismatch/missing credits in Parts A/B of Form 26AS and remedy (TDS/TCS)
- Whom should Assessee contact for Income Tax refund related queries
- S. 54EC– Reckoning period of six months from the date of transfer
- I-T department filing appeals ‘mechanically’
- Section 50C not applies to transfer of tenancy/ leasehold rights
- Postal ballot papers received after voting date but before counting will be counted
- Investors should not deal with unauthorized Portfolio Management Services providers
- Registration of Companies or LLPs to carry the business of banking, Insurance, Architect, CA, CS Needs Approval
- While rejecting registration u/s. 12A If CIT founds objects in MOA as non charitable he has to mention which objects he found non charitable
- Unless a non-resident earns income from business operations carried out in India, such income cannot be deemed as accruing or arising in India
- S. 80HHC -Sale value less face value of the DEPB will represent profit on transfer of DEPB
- Share Application money cannot be regarded as undisclosed income under S.68
- CIT(A) should admit and examine additional evidence submitted by the Assessee
- CIT(A) has no power to set aside any matter to the file of A.O.
- Revenue Intelligence Dept. unearthed duty evasion of Rs 50 crore
- Income from installation of towers/antennas on building roof, display of hoardings on building top and parking space rent not income from House property
- S. 54F not require construction to complete within specified period
- Port services rendered even without authorization of port, Service Tax credit will be available
- s.254(2)- Rectification application can be moved within the period of four years from the date of Tribunal Order
- MVAT Notification – Submission of Annexures by dealers not required to file audit report in form 704
- If quantum appeal is restored for fresh Consideration to CIT(A), then penalty order should also be restored back to the CIT(A)
- MVAT – Submission of certain annexures by the dealers who are not required to file Audit Report in Form 704
- Section 10(46) of the Income-tax Act, 1961 – Exemptions – Statutory Body/Authority/Board/Commission – Notified body or authority – Competition Commission of India
- Section 10(46) of the Income-tax Act, 1961 – Exemptions – Statutory Body/Authority/Board/Commission – Notified body or authority – National Skill Development Corporation
- Notification for Amendment to Rule 52, 53 and 54 of MVAT Rules
- SEBi issues Guidelines for Credit Rating Agencies
- ICWAI 9th National Award for Excellence in Cost Management – 2011
- CAT Passes Strictures At ‘Mutual Acrimony’ Between ITAT Members
- Supervisory Action Framework for Urban Cooperative Banks (UCBs)
- FEMA – Compilation of R-Returns – Reporting under FETERS
- Share brokers eligible to claim deduction of entire amount due to him from his client as bad debt
- Know Your LIC Policy Status on Mobile
- Transfer Fees received from Members in excess of those provided in by law by a plot society not taxable
- Incomplete or under Construction Building not liable to wealth tax
- Whether assessee entitled to deduction u/s 80HHC on sale made to UNICEF in India?
- Commissioner of Customs, Chennai Versus Denso Kirloskar Industries Private Ltd. (Supreme Court)
- Undesirable haste in passing assessment order results in miscarriage of justice – Delhi HC
- Form 16 Excel Utility with Synopsis to fill Form 24Q
- Format of Advance Tax Reminder to be sent to clients
- How to get Errors & Omissions in form 26AS rectified
- Income Tax Scrutiny Criteria for F.Y. 2011-12 / A.Y. 2012-13
- Critical Analysis of New Section 44AD
- CBEC amends Notification No. 63/1994-Customs (N.T.), dated, the 21st November, 1994 – Notification No. 17/2012-Customs (N.T.)
- Amends Notification No. 62/1994-Customs (N. T.) dated the 21st November, 1994
- Amends Notification No. 36/2001-Customs(N.T) dated 3rd August 2001 vide Notification No. 15/2012 – Customs (N. T.)
- Notified Reporting activities of liaison offices
- CG rescinds Notification No.30/2008-Customs, dated the 3rd March, 2008
- Online Application for Reprint of PAN Card – Documents to be Submitted
- Do’s and Don’ts while applying online for Reprint of PAN Card
- Instructions for Filling the Form for online application for Reprint of PAN Card
- How to apply online for Reprint of PAN Card
- Discount cannot be denied solely on the ground that same were not shown in sale invoices – SC
- Whether penalty and interest can be levied if Excise duty has been paid before issue of Show Cause Notice
- 53rd National Cost Convention- 2012
- Transfer pricing – Non-charging of interest in the controlled transactions is comparable with that of non-charging from the uncontrolled transactions, no transfer pricing adjustment can be made on this count
- Gold Prices and Financial Stability in India – RBI Working Paper Series
- Toppers of Company Secretaries Examination, December 2011
- ECBs for Infrastructure facilities within National Manufacturing Investment Zone (NMIZ)
- Delhi Court Jails CA for bribing Sales tax Officer
- DGFT – procedure for ‘on-line’ filing of PRC requests
- Conditionality for Import of Erythromycin Thiocyanate under Advance Authorization Scheme: Applicability of Policy Circular No.9 dated 30.6.2003 and PC 15 dated 17.9.2003
- DGFT – Expression Handmade includes Braided
- How to know whether our deductor/collector filed quarterly TDS/TCS statement and provided our PAN
- How to know ownership details of a vehicle through mobile
- Right to move court for arbitration – SC
- No Income Tax Scrutiny of Senior Citizens and Small Tax payers Having Gross Income less then 10 Lakh
- ICAI President’s Message – March 2012 – Regional Councils and Branches to organise CPT Classes for Examination in June 2012
- Promising Times for Chartered Accountants
- Circular for Mutual Funds – Distributor Due Diligence, Clarification to Regulation 24 of SEBI (Mutual Funds) Regulations, 1996
- Circular on Mutual Funds – Amendments to SEBI (Mutual Funds) Regulations, 1996, Valuation of Debt and Money Market Instruments, Advertisement
- SEBI Clarification on Offer For Sale of Shares by Promoters through the Stock Exchange Mechanism
- Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Amendment Regulations, 2012 – Amendment in regulations 5, 6, 9, 11, Schedule I and Schedule II
- Verification of Marks of CS December, 2011 Examinations
- ICSI – Guidelines, Rules and Procedures for Supply of Certified Copies) Of Answer Books to Students
- Role-check for the Digital Signatures (DSCs) belonging to authorized signatories of Banks / Financial Institutions
- Amendment to Income Tax (Appellate Tribunal) Rules, 1963
- Import of Gold on Loan Basis – Tenor of Loan and Opening of Stand-by Letter of Credit
- Appointment of Common Adjudicating Authority – Notification No. 13/2012-Customs (N.T.)
- Amends Notification No. 12/97 – Customs(N.T.) dated the 2nd April, 1997
- Duty exemption on re-import of Cut & Polished Diamonds sent abroad for Certification/ Grading
- Rate of exchange of conversion of each of the foreign currency with effect from 1st March, 2012
- Section 2 of the Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 – Financial Institution – Notified financial institution – The National Small Industries Corporation Ltd. (NSIC)
- Stay of Demand -ITAT asks to furnish surety to Assessing Officer
- Company Secretaries Examinations December, 2011 Results on 25th February, 2012
- Immunity U/s. 271AAA(2) cannot be only because entire tax, along with interest, was not paid before filing of income tax return
- Payments to outside lawyers which was not claimed as deductions in computation of profits cannot be disallowed under section 40(a)(ia)
- No addition for G.P. shortfall if assesee explains sales / Purchase difference
- India Ratifies the Multilateral Convention on Mutual Administrative Assistance in Tax Matters
- Amendments to the Combination Regulations – Relief to Corporate entities by making process of filings simpler
- Assessee entitled to claim deduction both under Sec.36(1)(vii) and Sec.36(1)(viia) of the Act but amount of deduction shall not exceed the amount by which such debt or part thereof exceeds the credit balance in the provision for bad and doubtful debts account
- Submission of Credit Information to CICs – Dissemination of Credit Information of suit-filed accounts
- Union Finance Minister’s Speech at Concluding Function of ESIC Diamond Jubilee
- No Time Limit to claim Income Tax Refund in respect of TDS on 8 % Relief Bond
- Coal Mines Provident Fund Commissioner is a Public Officer / Servant – Supreme Court
- Section 80HHC – Face value of the DEPB will be ‘cash assistance’ against export and will fall under Section 28(iiib) of the Act -Supreme Court
- Custom Duty – Electronic Automatic Regulators would fall under Chapter sub-heading 9032.89 – SC
- SC rejects revenue Appeal on the ground that the Revenue has not filed the appropriate papers
- Departmental circulars not binding, Classification Which is beneficial to assesse should be Applied – Supreme Court
- Empanelment with Municipal Co-Operative Bank Ltd., Mumbai for Concurrent Audit
- Cost Accounting Body – Rules of Verification of Answer Papers
- Greece signs international tax agreement to tackle tax evasion
- Task Force on an Aadhaar Enabled Unified Payment Infrastructure Submits Report to Finance Minister
- SEBI (MUTUAL FUNDS) (AMENDMENT) REGULATIONS, 2012 – Amendment in regulations 2, 25, 30 and Eighth Schedule; substitution of regulation 47 and sixth Schedule and insertion of regulation 75A
- DGFT – Import of spares for the existing machinery procured indigenously under EPCG Scheme
- DGFT – Operationalisation of provisions of Para 5.11.2 of Hand Book of Procedure Vol.-1 (2009-14) [RE: 2010]
- Section 80-IA of the Income-tax Act, 1961 – Deductions – Profits and gains from industrial infrastructure undertakings, etc. – Notified undertakings- NOTIFICATION NO. 10/2012
- Appointment & Posting of 13 Newly Appointed Hon’ble ITAT Members
- Budget 2012 – FM hopeful of meeting indirect tax collection target in FY12
- Auditors Not attending appeal challenging audit classification -Cooperative Department
- Corrigendum in description of export item at Sl. No 915, Product Code-62 of the DEPB Rate Schedule
- SEBI – Offer For Sale of Shares by Promoters through the Stock Exchange Mechanism – Circular No. CIR/MRD/DP/ 7/2012 February 23, 2012
- Amendment in notification No 21/2004-Central Excise (N.T.), dated the 6th September, 2004
- Customs – Regarding Courier Imports and Exports (Electronic Declaration and Processing) Regulations, 2010
- Rescinds Notification No. 58/2011-Customs, dated the 8th July, 2011
- Permission for export of wheat through Land Custom Stations (LCS) on Indo-Bangladesh and Indo-Nepal border
- Permission for export of non-basmati rice through Land Custom Stations (LCS) on Indo-Bangladesh and Indo-Nepal border
- Corporates and banks mandated to issue Form 16A downloaded from NSDL Website
- Review of the Economy 2011-12 – Summary and Highlights
- GST will bring about a Paradigm Shift in the Arena of Indirect Taxation in the Country -FM
- DEPB – Whether aluminium grills can be termed as Extruded aluminium products, and if so, Whether assessee can take benefit of Item 7 of Code 61 – No, rules SC
- Chikdren educational allowance – Centre decides to remove the minimum age bar
- Leviability of service tax on toll fee
- Regarding applicability of provisions of the Notifications No. 417 (E) dated 27.05.2011 on Molasses used in Hookah containing tobacco
- Foreign Lawyers cannot practice law in India – Madras High Court
- Three women IRS members in CBDT for the first time in 48 years
- Vending of coffee is in the nature of a catering service and is very essential especially for the employees working round the clock in IT companies – repair of the coffee vending machine is an input service
- Service Tax paid in respect of services received in relation to ‘Repair and Maintenance’ of the staff colony not eligible for CENVAT credit
- Input credit allowable on insurance expenses paid for insurance policy to cover expenses relating to pay-roll
- Second appeal can not be filed against the same order when the first appeal had already been dismissed
- If assessee fails to explain difference in books of Accounts additions for such difference can not be deleted
- Notional income cannot be brought to tax on properties shown and accepted to be taxable u/s 28
- MCA reconstitutes Quality Review Board
- CWA – Examination Pattern for Foundation Course (Entry Level) Part-I from June 2012 onwards
- RBI Releases Draft Guidelines on Liquidity Risk Management and Basel III Framework on Liquidity Standards
- Amendment in Chapter 10 of Schedule 2 of ITC(HS) Classification of Export and Import Items relating to export of Basmati Rice.00
- Income Tax Calculator in Excel for A.Y. 2012-13
- Auto Excel Income Tax Challan ITNS 280 & ITNS 281
- Income tax Dept may get to re-open tax returns beyond 6 years if foreign assets involved
- Budget 2012 – Foreign bank deposits, paintings, watches may attract wealth tax
- Recent Liberlisation and Simplification in Softex Procedure, Payment allowed to be recd. in advance beyond one year, Release of Foreign Exchange for Imports
- RBI allows exporters to receive advance payment for export of goods which would take more than one year to manufacture and ship
- Increase in limit to USD 5000 for foreign exchange remittance towards imports without any documentation formalities
- CBI arrests service tax superintendent in bribery case
- IDBI Bank provides account portability facility to customers
- If facts are similar, Tribunal directs CIT(A) to re-decide the appeal in line with direction issued by Tribunal in its earlier order
- Ambit of service tax to be widened – State FMs to meet to cover more services
- Transfer of shares within promoter group of a company would be considered as an equity sale – SEBI
- Indian Banking Sector – Towards the Next Orbit
- SEBI standardize lot size for IPO propose to list on SME exchange/platform and for secondary market trading on such exchange/platform
- Governance deficit and financial crisis
- No Penalty U/s. 271AAA Even If Tax On Undisclosed Income Unpaid
- Banks eligible to claim both deduction for bad debts and provision for bad and doubtful debts
- Status of Admission to Company Secretaries (CS) Executive Programme
- Applicability of Provisions of Section 194C to the payments to Calcutta Dock Labour Board (CDLB)
- SEBI (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2012 – Amendment in regulations 53, 70 and 93
- ICWAI to hold first convocation and annual award function at Kolkata
- Date of filing of the return is relevant date to consider the applicability of the proviso to section 245R(2) of the Act
- ICAI Requests Members to Share Hardship Being Faced with Regard to TDS Returns
- Empanelment with New India Assurance Company Limited for concurrent audit
- Interest payable U/s. 220(2) to be computed from the date of fresh assessment order if original been set aside
- Payment under inter-linked contracts for manufacturing attracts TDS u/s 194C – Karnataka High court
- Section 50C – Fair market value determined by DVO cannot be replaced for full value of consideration
- Authority for Advance Rulings (Income-tax) – Frequently Asked Questions
- TP Adjustments to be restricted to international transactions and cannot form the basis for rejecting books of accounts
- Interest on Income tax refund received by foreign company taxable as interest income and not as business income
- Trading by way of re-export of imported goods from SEZ eligible for tax deduction under section 10AA
- Section 80IA- Industrial Parks becoming operational and applying for registration after 31 March 2006 not eligible for tax holiday under erstwhile Industrial Park Scheme, 2002
- Without reference assumption of jurisdiction by Transfer Pricing Officer in working out arm’s length price not justified
- Section 50C not applicable to tenancy rights and unregistered document
- Payment of commission to Indian agent at arm’s length price does not relieve non-resident from further attribution of profits to PE in India
- CBDT exempts return-filing for salaried having total income upto Rs 5 lakh
- Non-availability or non-association of independent witness cannot be a ground for discharge or acquittal in all cases
- In Re NetApp B.V. – Filing of the return is the relevant date to consider the applicability of the proviso to s. 245R(2)
- Post Ponty Chadha alleged leakage Reshuffle of charge in CBDT
- How to Turn Convert Scanned Document Into Microsoft Word Document
- How To Compute ‘Indexed Cost of Acquisition’ For Gifted Assets – Delhi HC
- Section 65(105)(zm) of the Finance Act, 1994 – Banking and Other Financial Services – Service tax on Commitment charges collected by Banks
- Centre moves SC seeking review of verdict in Vodaphone issue
- Feature of NRE & NRO Account with comparison
- It is enough if bad debt written off as irrecoverable in the accounts of assessee, subject to provisions of S. 36(2)
- If AO wants to use any witness against the Assesee then principle of natural justice demands offering the witness for cross-examination of the assessee
- New Syllabus for the Foundation Programme of the Company Secretaryship Course
- Revised Recommendations for Combating Money Laundering and Financing of Terrorism
- Guidance Note on Accounting for Self- generated Certified Emission Reductions (CERs) (Issued 2012)
- Guidance Note on Accounting for Rate Regulated Activities
- Payments received by the applicant from the distributor for sale of software product is in the nature of royalty
- Clarification regarding admissibility of exemption under area-based Notifications No. 49/2003-CE and 50/2003-CE, both dated 10.06.2003 in specific situations – reg.
- Interest on bonds/debentures – Notified bonds/debentures of Rural Electrification Corporation
- Interest on bonds/debentures of Indian Railway Finance Corporation Ltd exempt u/s. Section 10(15)(iv)(h) of Income-tax Act, 1961
- Furnishing of Annual Statement by a non-resident having Liaison Office in India
- Lead Bank Scheme – Participation of Public Representatives like MPs/MLAs/Zilla Panchayat Chiefs in District Level Review Committees (DLRC)
- Adoption of uniform Customs Procedure for calculating the contents of Iron Ore for the purpose of charging of export duty
- ICAI announces setting up WICASA Branch at Navi Mumbai
- Allocation of Corporate debt long term category to FIIs – Circular No. CIR/IMD/FIIC/5/2012
- Fight against corruption is incomplete unless illegal assets are recovered
- If AO objects to admission of additional evidence, then CIT(A) should give categorical finding in terms of Rule 46A for admission thereof
- When the company is under liquidation, appeal could only be filed by official liquidator
- Even if Rule 8D not applicable, indirect expenses which may be attributable on a reasonably proper basis can be disallowed
- Check Status of PAN / TAN Application with NSDL
- Liability to pay service tax on commission paid to Foreign Service provider arises only with effect from 18.4.2006
- DVAT for Works Contractors – Jargon Simplified
- Excise Duty on Branded Readymade Garments
- Practical Aspects in Works Contract – A Service Tax Perspective (Part – 1)
- S. 28(va)(a) – Amount received for “not carrying out any activity in relation to any business” taxable only from A.Y. 2003-04
- DTC committee favoured raising I-T exemption limit to Rs 3 lakh
- Income Tax Department Seizes cash,Jewellery and Fixed Deposit worth Rs. 11.61 crore
- Guidance Note on Accounting for Real Estate Transactions (Revised 2012)
- Need to move from government regulation to self regulation says Moily
- DGFT – Corrections in Public Notice No.80/(RE2010)/2009-14 dated 13.10.2011 and Public Notice No.83/(RE2010)/2009-14 dated 31.10.2011
- What is ITR-V, Time Limit, where to submit and what if not submitted within time
- Is it mandatory for me to file an Income Tax Return if I have a PAN?
- Auto-fill Form No. 49A in Excel for PAN Application
- Standard deduction of Rs 50 thousand for salaried employees- CBDT committee suggests
- Company Secretaries June, 2012 Examination -Applicability of the latest Finance Act and other changes
- A practical insight to XBRL Efiling
- CAG extends last date for empanelment application and submission of documents
- Consideration received by Assessee for software not royalty
- How To Complain Against Corruption
- Investor Grievance Redressal Mechanism at Stock Exchanges – Circular No. CIR/MIRSD/2/2012 – Dated – February 15, 2012
- RBI allows non-banking entities to set up ATMs
- FEMA – Clarification – Purchase of Immovable Property in India – Reporting requirement
- Export of Goods and Services- Simplification and Revision of Softex Procedure
- Notification No. 11/2012 – Customs (N. T.) – Amends Notification No. 36/2001-Customs(N.T) dated 3rd August 2001
- Minimum Export Price of Onions – DGT Notification No 96 (RE – 2010)/2009-2014
- Procedure for Correction of Income Tax Payment challan
- Reassessment notice not invalid just because of absence of suffix private Limited in Notice
- How to Request re-issue of Income tax Refund?
- Disallowance U/s. 14A as per Rule 8D can not be made for the period prior to 01.04.2008
- Procedure for issuance of Lower / Nil TDS Certificate
- TDS on Provision for Expenses for which no invoice been received
- Valuation of goods manufactured on job-work basis – Tribunal did not consider whether the parties were related – Matter remanded – SC
- Certified Registration Centre at the office of chartered accountants to provide online registration facility in CPT course
- Document on which PAN required to be quoted
- Income Tax Payment Challan 280 in Excel Format
- Download Custom / Import Duty Calculator in Excel Format
- Share loss to be first set-off to determine what Gross Total Income consists of under explanation to section 73
- Budget 2012 – Home Loan interest Exemption limit may be raised to Rs 3 lakh
- Reopening Notice u/s 147 issued within Limitation Period but served after Limitation Period is valid
- No Capital Gain on transfer of FSI credit by way of TDR if cost could not be ascertained
- Regarding time bound Customs clearance of Cargo from Ports/Land Customs Stations/Air Cargo Complexes, CFSs/ICDs
- Nil E-TDS Return, Nil Challan, When to file nil return
- ICAI empanelment of exam observers for May-June 2012 Exams
- Inauguration of New Office Buildings in Durgapur and Kolkata by Finance Minister
- RBI raises Bank Rate as a Technical Adjustment
- Satyam Case – ICAI bans Srinivas Talluri and Vadlamani Srinivas from practice for life
- Indians deposited over $500bn black money in banks abroad- CBI
- Jaydeep Shah elected as CA Institute President and Subodh Kumar Agrawal as Vice-President
- Commercial production of mineral oil as per sec. 80IB (9) involves the activity of extracting oil from underneath of surface and transport it for sale
- Whether Section 25 company entitled to have two kinds of memberships
- ED, I-T dept may be asked to probe Antrix-Devas deal
- Railways Advise Passengers to Use Current Reservation Counter Facility for short Notice Journeys
- Central Excise – Manner of payment of duty and Account Current
- Classification and Valuation under Central Excise Act and Rules
- Assessment , Provisional assessment, Scrutiny of Assessment Under Central Excise Act and Rules
- Overseas subsidiary with single shareholder is a separate legal entity for tax purposes
- No penalty for inadvertent reporting of income if assessee establish bonafide and innocence
- Procedure for Central Excise Registration and grant of Registration Certificate
- Registration under Section 10(23C)(iv) cannot be denied on the ground of variation in administration expenses
- Sharing of net revenues consistently in controlled and uncontrolled transactions held as a valid comparable uncontrolled price – ITAT Mumbai
- Time barred assessment is void ab-initio,no need to deposit 25% u/s 62(5) under PVAT Act, 2005
- US based company engaged in the business of money transfer does not have a Permanent Establishment in India under the India-USA tax treaty
- Interest on borrowings made for acquiring shares in Malaysian company alongwith controlling interest is allowable
- I-T department obtains instances of unreported transactions of over Rs 2,000 crore
- Service tax on Construction Services- CBEC Clarification
- DVO opinion could not be regarded as information for the purpose of reopening an assessment U/s. 147
- Additional depreciation allowable qua industrial undertaking and not qua the whole business of the assessee.
- HUF with only Female Members and HUF without Females
- Constitution of Regional Advisory Committee of Central Excise Mumbai Zone-I for Calendar Years 2012 & 2013
- Once tax has not been deducted and even if such tax has been paid by the deductee, Disallowance u/s.40[a][ia] can be made
- Power Delegation Under Section 64 of MVAT Act 2002 – DC (A and R)/VAT/PWR(INV)/2006/3/Adm-6 Dated 04/02/2012
- Damage for unauthorized trademark use can be claimed only on submission of proof of damage
- Circumustances when Rs. 1,50,000 maximum interest deduction not available on Self Occupied property
- Income Tax department slaps Rs 1,137 cr additional tax notices on DLF
- Clarification regarding Filing of conflicting ROC returns by contesting parties
- Amount received towards issue of share cannot be considerd as revenue receipt
- Owning of Pan,filing of return, Payment through banking channel not a conclusive proof that, the gift is genuine
- Amount which was never routed through or debited the profit & loss account could not be considered for the purpose of determination of book profits
- Autofill Online Direct Tax Payment Challans Through Excel Utility
- November 2011 Examination CA PCC, IPCC Toppers, Pass Percentage
- For Calculating 90% of Commission, Brokerage etc under Expl (baa) to section 80HHC netting of income from expenditure is allowed
- For Promotion and Choice Posting achievement of revenue collection target to have highest weightage – CBDT
- Section 143(3) assessment order without AO’s signature is Void – ITAT Mumbai
- Carrying of Original ID Proof to be Compulsory During Train Journey in all Air Conditioned Classes
- Revised / New procedure for activation of TAN account
- Montek not in favour of referring legislative Bills to ‘expert groups’
- Bangalore Metro to float tax-free bonds to raise Rs 2,000 crore
- Sebi enhances minimum investment amount in Portfolio Management Scheme to Rs 25 lakh
- CASB releases Exposure Draft of CAS – 2 (Revised 2012)- Invites Comment
- Income Tax Exemption Limit to be raised to Rs 3 lakh – Parliamentary Committee
- Amendment in SION, A1790 and A1834 – Public Notice No. 98(Re 2010)/2009-2014
- ICAI announces date, Schedule, Exam Centres, Fees of CPT (Paper- Pencil Mode) June 2012 Exams
- ICAI help desk to attend students’ queries on examination matters including admit card
- RBI permission no longer required for cut in sanctioned ECB limit
- CENVAT Credit (First Amendment) Rules, 2012 – Notification No. 01/2012-Central Excise (N.T.)
- Disallowance by CIT(A) of expense without any specific opportunity to the assessee in the matter of rendering of services not justified
- Amends Notification No.64/95-Central Excise, dated the 16th March, 1995
- Notification No. 06 /2012-Customs – Amends Notification No. 39/96-Customs, dated the 23rd July, 1996
- Section 147 applies both to section 143(1) as well as section 143(3) – No reopening u/s 147 in absence of ‘new material’
- Finance Lease – Lease equalization charge as per ICAI Guidelines is allowable
- ICAI – Discontinuation of Despatch of Admit Cards in physical form
- Fixation of a new SION (C–2048 ) and addition / deletion / amendment in 5 SIONs of Engineering Product Group (Product Code ‘C’) in the Hand book of Procedures V.2 (2009-14)
- S. 80HHC – SC reverses Bomaby HC judgment in Kalpataru case, DEPB Face value covered U/s. 28(iiib)
- Govt set to miss direct tax collection budget estimate
- Meaning of the expression ‘gross amount’ appearing in Rule 3(1) of the Works Contract (Composition Scheme for Payment of Service Tax) Rules, 2007, as it stood prior to 07th day of July 2009 – regarding
- Direct Tax Collection Deficit – CBDT chief writes to top I-T officials
- Import policy of arms and ammunition for Specified Sportspersons / Sport Bodies, amendment thereof
- Announcement for CAT Students regarding new Pattern of Examination and Structure of Foundation Course (Entry Level) Part-I
- Guidelines in respect of the disclosures to be made in the Letter of offer in respect of Buy-back of securities in terms of SEBI (Buy-back of Securities) Regulations, 1998 and Format of Standard letter of offer
- Clarification – Establishment of Project Offices in India by Foreign Entities – General Permission – A.P. (DIR Series) Circular No. 76
- RBi asks Co-Operative Banks to display list of unclaimed deposits/inoperative accounts for ten years or more on their respective websites
- Implementation of the provisions of Foreign Contribution (Regulation) Act, 2010
- SEBI amends Equity Listing Agreement – Amendment in Clause 40A, 43, 43A
- Seeks to impose anti-dumping duty on import of Coumarin, originating in, or exported from, the People’s Republic of China
- Correction in OLTAS / Income Tax / TDS / Direct Tax Challan, Type of Correction and Period for correction
- Depreciation allowed on intangible assets acquired on or after 1st April, 1998 – Expenditure on acquiring database cannot be claimed as revenue expenditure
- Assessee to whom DTAA applies, the provisions of Income Act shall applied to the extent they are more beneficial to the assessee
- Loss from windmill business can be set off against other heads of income
- Bank Guarantee Commission not liable to TDS U/s. 194H as it is is not a transaction between principal and agent
- 2G case – CBi accuses CA Nilesh Doshi of resiling from statement
- Once tax has not been deducted and even if such tax has been paid by the deductee, disallowance u/s.40[a][ia] can still be made.
- For section115JA/JB Deduction U/s. 80HHC to be computed with reference to the net profits in the profit and loss account – SC
- CIT (A) Guilty of ‘Contempt’ For Not Following ITAT Verdict
- Book Rail Tickets 120 day in advance w.e.f. March 10, 2012
- Form-16 FY 2011-2012 excel utility for upto 100 employees
- Can excess TDS Paid for last Financial year can be adjusted against current financial year
- CBEC Achieves Nearly 80.74% of Budget Estimate Up-to January, 2012 in the Current Fiscal
- Direct Tax Collection During April-January of the Current Fiscal up by 14.57 Percent
- Tips to save Income tax for Salaried Person
- Sebi to give MCA list of over 500 cos who violated Collective Investment Scheme (CIS) rules
- SC directs Speak Asia to deposit investos Money
- Amends Notification No. 39/96-Customs, dated the 23rd July, 1996
- RBI asks banks to refund unclaimed deposits estimated over 1700 crore rupees
- FEMA – Claim for interest in the nature of compensation for wrongful retention of money is not maintainable
- It is not permissible for the executing authority to look beyond the order it is required to execute
- Excise Duty- Value Based Exemption Scheme for Small Scale Industries
- Corporate India wants no change in tax rates in 2012-13 Budget
- Union Budget on 16th March and Rail Budget on March 14
- Excise Duty on Readymade Garments- Exempt turnover of Rs. 8.90 Crore
- Eligibility to appear in May 2012 Integrated Professional Competence exam(IPCE)
- Amendment in Appendix – 30 A relating to Export Obligation Period under Advance Authorization/DFIA Schemes – Public Notice No. 96 (RE-2010)/2009-2014
- Assessee has right to plan its affairs in such manner which may result in payment of least tax possible
- No Penalty for wrong / non furnishing of PAN in TDS return if Asseee files later revised return with Correct PAN
- Time to Invest Big in Infrastructure – Infrastructure Bonds
- Provisions written back can not be added to income if provision was not allowed in the earlier year
- If relationship of principal and an agent exsit then TDS is deductible on Commission
- No Service tax payable if benefit of service accrued to the foreign clients outside the Indian territory
- Addition U/s. 68 for non reply of Notice U/s. 133(6) – ITAT remanded matter Back to A.O.
- Exemption from service tax on export not available if payment not received in convertible foreign exchange
- ITAT reduces addition made by AO after rejecting the books of accounts
- GTA – Cestat Explains Conditions for Abatement of 75% from the gross freight value under Notification No. 32/2004-ST dated 03.12.2004
- SEBI (Buy-back of Securities) (Amendment) Regulations, 2012
- All you want to Know about Deflation
- Guidelines for Conversion of Cost Accountants’ Firms into Limited Liability Partnerships (LLPs)
- External Commercial Borrowings – Reduction in amount,all-in-cost of ECB and Changes/modifications in the drawdown schedule,
- Unclaimed Deposits/ Inoperative Accounts in Banks – Display list of Inoperative Accounts
- Finance Minister hopes an Upward Revision in the GDP Growth
- Deduction under section 80DDB – Do I need to reduce Insurance Claim recd. from Expense Amount
- Sebi directs two to pay Rs 2.72 cr for unlawful gains
- Deduction of Interest Paid on More Than One Loan Borrowed for Purchase or Construction of same House
- Budget 2012- Income tax exemption Limit may be raised to Rs. 2 lakh
- Deregulation of Savings Bank Deposit Interest Rate – Clarification – UBD.BPD.(PCB) CIR No. 18 /13.01.000/2011-12
- In motor vehicles accident compensation claims entire amount may be disbursed to the claimant if he or she is literate – SC
- No VAT on Goods Sold by Duty Free Shops – SC
- Proceedings in bounced cheque cases under Negotiable Instruments Act will continue even if there is a scheme to revive the sick company
- Budget 2012 – Govt likely to reduce STT in Budget
- IRDA – Exposure Draft on Insurance Cover for Persons Living with HIV/AIDS
- RBI cautions Public Once Again against Fictitious Offers
- Guideline / Prohibition on acceptance of foreign contribution under FCRA, 2010
- Scamsters using Income Tax dept website to dupe people
- Highlights of the National Policy on Narcotic Drugs and Psychotropic Substances
- TDS on Salary Payments to Non Residents & Expatriates
- Budget 2012 may bring more services in tax net with introduction of negative list
- Know Your Unique Code Number
- PAN likely to become most potent tool to unearth black money, tax evasion
- Payment for shrink wrapped software/ off-the-shelf software amounts to ‘royalty’
- Taxability of Income from Leasing of Hotel with provision and maintenance of various facilities and amenities
- Receipt of retention money by furnishing bank guarantee not chargeable to tax as it accrues only on a successful completion of a contract
- Consideration for transfer of limited right to use the know-how taxed as royalty income
- Business support services of advisory nature under a cost contribution agreement are consultancy services liable to tax withholding
- Income-tax Authorities have no jurisdiction to tax payment made outside for supplies taking place outside the country
- Business income accruing or arising to the applicant can be taxed in India only in respect of such operations carried out in India – AAR
- Mandatory death penalty unconstitutional – Supreme Court
- International Taxation – Witholding Tax Rates and provisions
- Merely because appellant did not make debit of the CENVAT Credit and did not make proper entries in the ST-3 return, confirmation of service tax demand not justifiable
- Fabrication does not amount to manufacture, service tax is not leviable
- Notification 32/2004-ST does not require consignment-wise declaration on consignment notes or prescribe any format for filing the declaration
- Re Foster Wheeler France SA – Date of filing of the return is the relevant date to consider the applicability of the proviso to section 245R(2) of the Act
- Interrogation by Income tax officials till late night is torture & violation of human rights
- Transfer Pricing Concept & The Law in India
- TDS on Pension and Retirement Benefits
- Income From Salary – Meaning, Exceptions, Valuation of Perquisites, Exempt Allowances & Deductions
- Overview of TDS Provisions related to Salary
- ICSI to declare result of CS Foundation, Executive & Professional Level on 25th Feb 2012
- If government authority performs a service which is not in the nature of statutory activity for a consideration not in the nature of statutory fee/levy, then in such cases, service tax would be leviable
- If the entire demand had been deleted the penalty imposed too deserves to be deleted
- Cenvat claim cannot be denied on goods destroyed in fire merely because Insurance company paid for that inclusive of excise duty
- Need for more research in investor education- SEBI Chairman
- SC Sympathy in bounced cheque case
- TDS credit to be allowed if difference between TDS claim and TDS in AS-26 data does not exceed Rs. One lakh
- Deduction u/s. 80C for tuition / school / education fees
- Deduction U/s 80D for Mediclaim Premium to Individual, HUF and Senior Citizens
- Things you should know about the ETDS-ETCS
- Solutions to errors while doing ETDS Return
- If business was set up during the year Assessee entitled to benefit of carry forward of business loss and depreciation
- FM asked to retain tax rates at existing levels and to increase exemption limits
- Income tax Calculators from A.Y. 2001-2002 to A.Y. 2012-2013
- Brief Study of Deduction of tax on Salary U/s. 192
- CA, CS, CWA Amendment Act, ICWA name change effective from 1st February,2012
- Payment under inter-linked contracts for manufacturing attracts TDS u/s 194C
- Genuineness of transaction when identity of the share holders has not been established and notice u/s. 133(6) remained unserved
- For exercise of power U/s. 263, it is mandatory that order passed by AO should be erroneous and prejudicial to interest of Revenue
- FM Holds Meeting with Representatives of Business and Trade as Part of Pre-Budget Consultations
- Accepting SMS Sent by IRCTC on Par With Electronic Reservation Slip (ERS) for Undertaking Train Journey on E-Tickets
- Initiatives on Safeguards of Deserted NRI Women
- India Exempts Essential Commodities to Bhutan from Export Bans
- Mahindra Satyam receives provisional attachment order from the Income Tax Department
- Constitution of DRP at specified places vide ORDER NO. 1/FT&TR/2012
- TRAI Releases Pre-Consultation Paper on “Allocation of Spectrum in 2G Band in 22 Service Areas by Auction”
- IRDA – Discussion paper on Tying And Bundling Insurance Policies With Other Services And Goods
- Appeal filed by the assessee liable to be unadmitted/dismissed, for non attendance
- IRDA – Constitution of Health Insurance Forum
- CA PCE and IPCE results expected on 9th February, 2012
- SC Cancels 122 licenses for mobile networks issued during A Raja’s tenure as Telecom Minister
- ICAI considers proposal to increase disclosure by listed cos
- Govt. putting pressure on revenue officials to meet revenue targets
- AAR – WaveField Inseis ASA – Date of filing of the return is relevant to consider applicability of proviso to section 245R(2)
- Liquor baron Ponty Chadha denies seizure of Rs 100 cr from mall
- Grant of Loans and Advances and Award of Contracts to Directors of Banks and their Relatives
- RBI asks commercial banks not to overvalue houses while providing loans
- Laxman Das takes over as new CBDT chairman
- Inclusion in the Second Schedule to the Reserve Bank of India Act, 1934 Industrial and Commercial Bank of China Limited
- FM asks Customs Administration to Function on Principles of Transparency, Predictability, Strong Legal Processes and Productive use of it
- ICSI Launches New Syllabus for CS Foundation Programme
- Exposure Draft on Proposed New Syllabus for Executive and Professional Programme of The Company Secretaryship Course
- List of Applications for supply of Certified Copies/Inspection of Answer Books of November, 2011, CA Final Examination received by the Examination Department
- ICWAI Circular regarding Change in Cut off date for training from Dec.12 to Dec.13
- FAQs – The Companies (Cost Accounting Records) Rules 2011 (CARR) & The Companies (Cost Audit Report) Rules, 2011 (CAR)
- Fixation of Standard Input-Output Norms (SION) for the export product “Articles made of Thermo Plastic Elastomer (TPE)”
- Amendment of Standard Input Output Norms (SION) of Food Products (Product Code: ‘E’) in the Handbook of Procedures V.2 (2009-14) – PUBLIC NOTICE No. 94 (RE-2010)/2009-14
- Amendment of Standard Input Output Norms (SION) of Food Products (Product Code: ‘E’) in the Handbook of Procedures V.2 (2009-14)
- Fixation of Standard Input Output Norms (SION) of Food Products (Product Code: ‘E’) in the Handbook of Procedures V.2 (2009-14)
- RBI asks banks to evaluate risk of unhedged forex of companies
- Reviving Signals
- Failure to Furnish Return by Assessee who has taken ST registration cannot be said non deliberate
- Exposure Draft on Guidelines on Prospect Product Matrix for Life Insurance
- Indian Oil Corporation Ltd & Anr. Versus Sushila Kumar & Anr (Delhi High Court)
- Private Citizen has a Right to ask for sanction to Prosecute a Public Servant – SC
- Assessee cannot be held to be a trader in shares with respect to delivery basis transaction
- Add. CIT Sentenced to Undergo Four Years Rigorous Imprisonment
- Allahabad HC orders IOC to pay entry tax on crude
- ICWAI – Important Announcement for Students for June 2012 Term of Examination
- Income Tax Department searches premises of liquor baron Ponty Chadha
- Private Sector Banks as Agency Banks of RBI can handle Govt. business
- Euro Burns Money
- No Tax On Society Redevelopment Gains
- Transfer Pricing – TPO can rely on ‘contemporaneous’ data even if not available at specified date – ITAT Bangalore
- Govt to present new Companies Bill in upcoming budget Session
- Sebi imposes Rs 40L penalty for involvement in fraudulent trade practices
- SEBI – Offer For Sale of Shares by Promoters through the Stock Exchange Mechanism – Circular No. CIR/MRD/DP/ 05/2012 February 1, 2012
- Adjustment of service tax paid under wrong accounting code allowed -Cestat
- ICWAI President Communiqué February, 2012
- Form 16 for AY 12-13 in Excel with formula
- Finance Minister Holds Meeting With Leading Economists as Part of the Pre-Budget Consultation Process
- Sebi notifies Institutional Placement Programme (IPP) norms to help promoters dilute stake
- Regarding Classification of Fused Silica under Customs Tariff Act, 1975
- Tariff Value increased for Gold, Silver, Brass Scrap and Poppy Seeds
- CBDT Extends last date for submission of ITR-V for A.Y. 2011-12
- Documents Required For Registration of Central Excise Number
- Sebi (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2012
- Deferred Payment Protocols between Government of India and erstwhile USSR – A.P. (DIR Series) Circular No. 74
- Auto TDS and TDS interest calculator
- Period of limitation if applies to principal amount should also apply to claim for interest – HC
- IPCC Students Registered on or before 1st March / 1st September can appear in November /May Examination
- Exemption scheme benefit not available as assessee fails to start production at its refinery during the qualifying period
- Assessee not required to prove the source of source
- For rejecting the view taken in earlier assessment years, there must be a change in the fact situation or a material change in law
- Download Simple Overtime Calculator
- Maharashtra Shops and Establishments (Amendment) Rules, 2012
- PPF Scheme, 1968/Senior Citizens Savings Scheme Rules, 2004 – Notified branches of Central Bank of India
- Banking – Factoring Regulation Act, 2011 – (NO. 12 OF 2012)
- Finance Ministry Develops Comparative Rating Index of Sovereigns (CRIS)
- Inflation to be in between 6 and 7 per cent and Growth Rate to be above 7 per cent by March End 2012
- Indian Banking- Journey into the Future
- CBI registers Case against Certain Officials of Central Excise, Railways and Others
- Master Circular on Memorandum of Instructions governing money changing activities – Updated as on January 31, 2012
- Government Agency Business Arrangement – Appointment of Private Sector Banks as Agency Banks of Reserve Bank of India (RBI)
- MVAT – Additional List of Suspicious Dealers who has issued false bills without delivery of goods
- Yograj Infrastructure Ltd Vs. Ssang Yong Engineering & Construction Company Ltd. & ANR. (SC)
- CIT Appeal to consider documents submitted by the Assessee before passing Ex-parte Order
- Refund of Statutory / ROC Fees Paid by mistake to MCA
- Units of mutual funds are not generally trading instrument – ITAT Mumbai
- ICAI – Double home loan repayment exemption limit to Rs 3 lakh
- ICAI panel on black money to submit report in a fortnight
- ICAI President’s Message – February 2012 – Amendment to the Statutory Auditor’s Reporting Responsibilities
- Press Release on signing of Convention on Mutual Administrative Assistance in tax matters as amended by the 2010 Protocol by India
- Regarding implementation of the pneumatic tyres and tubes for Automotive Vehicles (Quality Control) Order, 2009 DIPP Office Memorandum dated 13-12-2011
- TDS not deductible on freight chargers shown separately in Goods Purchase Bill
- Section 10E of the Companies Act, 1956 – Board of Company Law Administration – Constitution of – Revision of fees payable in terms of regulations 29 & 30 of the CLB Regulations, 1991
- Company Law Board (Amendment) Regulations, 2012 – Amendment in regulation 30
- Rate of exchange of conversion of each of the foreign currency with effect from 1st February, 2012
- Amends Notification No. 12/97-Customs (N.T.), dated the 2nd April, 1997 thereby notifying Tondiarpet (TNPM), Chennai as ICD
- Insurance – AML/CFT guidelines – CIRCULAR NO. IRDA/F&I/CIR/AML/028/01/2012, DATED 27-01-2012
- Deregulation of Savings Bank Deposit Interest Rate – Guidelines for Co-operative and Regional Rural banks
- Memorandum of Instructions for Opening and Maintenance of Rupee /Foreign Currency Vostro Accounts – A. P. (DIR Series) Circular No.72
- Memorandum of Instructions governing money changing activities – A. P. (DIR Series) Circular No.71
- If agreement was on principal-to-principal basis, payments made by the assessee to the distributor cannot be treated as commission liable for TDS U/s. 194H
- If asseee repaid the short term loan received by him the said amount could not be treated as income of assessee
- In the absence of nexus between Education expenditure incurred for Director’s son and business of assessee company the same is not deductible
- Taxability of waiver of principal amount of loan taken for purchase of capital asset or remission of trading liability
- Can an assessee engaged in letting out of rooms in a lodging house also treat the income from renting of a building to bank on long term lease as business income?
- Can an assessee not claiming deduction under section 80-IB in the initial years claim the said deduction for the remaining years during the period of eligibility, if the conditions are satisfied?
- Does income derived from sale of export incentive qualify for deduction under section 80-IB?
- Exemption u/s. 54 in respect of more than one residential flat acquired by the assessee under a joint development agreement with builder
- Income tax & HRA Calculator + Form 16 + ITR AY 2012-13
- Capital Gain Calculator for Shares – Long Term and Short term gain
- Know status of ITR-V / Income Tax Return Filed online
- Income tax Calculator for A.Y. 2012-13 & 2011-12
- CA in Delhi commits sucide
- Consolidated FDI Policy Circular-Issue of fifth edition of the Circular -Inviting comments from stakeholders
- Can AO tax the actual profits as per books of accounts, if the same is higher than 10% of receipts which deemed to be the profits u/s. 44BBB in case of a foreign company engaged in turnkey projects?
- IASB and FASB seek to reduce differences in classification and measurement models for financial instruments
- Waiver of Certain Requirements Relating to Preferential Allotment to Insurance Companies and Mutual Funds
- Govt to take up Indonesia’s proposal on coal tax
- Provisions for Deposit of tax, Credit of TDS, TDS Certificate, TAN and Time Limit for Deposit of Tax
- How to know your Income Tax Jurisdiction
- Claiming HRA – What to do if landlord refuse to furnish PAN?
- Deduction from Income we use to forget while computing taxable income
- ITAT can dismiss appeal for non attendance despite issue of notice to attend
- Allowability of bad debts under section 36(1)(vii)
- Would expenditure incurred on feasibility study conducted for examining proposals for technological advancement relating to the existing business be classified as revenue expenditure, where the project was abandoned without creating a new asset?
- Would the phrase “used for purpose of business” in respect of discarded machine include use of such asset in the earlier years for claim of depreciation under section 32?
- Is the assessee entitled to depreciation on value of goodwill considering it as “other business or commercial rights of similar nature” within the meaning of an intangible asset?
- What can be the tests to determine “substantial part of business” of lending company for the purpose of application of exclusion provision under section 2(22)?
- Would the procurements of parts and assembling them to make windmill fall within the meaning of “manufacture” and “production” to be entitled for deduction under section 80-IB?
- Would grant of transport subsidy, interest subsidy and refund of excise duty qualify for deduction under section 80-IB?
- Can penalty under section 271(1)(c) for concealment of income be imposed in a case where the assessee has raised a debatable issue?
- ICWAI revised fees payable by members w.e.f. 01.04.2012
- Need to widen the reach of the mutual fund industry in the country- SBI Board
- Budget 2012- FinMin considers imposition of higher excise duty on Diesel cars
- IT official convicted in bribary case
- India Signs Multilateral Convention on Mutual Administrative Assistance in Tax Matters
- India must have independent regulator for auditors – PwC
- Comments invited on the XBRL filings for Financial Year 2010-11
- Section 42(1) of the Reserve Bank of India Act, 1934 – Maintenance of CRR – Circular No. RPCD.CO.RCB.BC.No.56/07.02.01/2011-12
- Additional Repo Operations under Liquidity Adjustment Facility (LAF) on Reporting Fridays
- Know Income tax Refund failure Status
- TDS – Provisions related to Lower deduction / non-deduction of tax and on payment to Government
- All about e-TDS and Quarterly Statements Of TDS
- Format of details to submitted during Income Tax Assessment
- Income Tax Calculator for A.Y. 2011-12, 10-11, 09-10, 08-09, 07-08
- Delay in notice U/s. 143(2) Renders Assessment Void – HC
- Public issue of Hudco Tax Free Bonds to open on 27 Jan 2012
- Petition in HC against minimum wages specified in CA Offices by Kerala State Government
- Procedure and FAQ for On-line Submission of Application for Verification of Answer Books for CA students
- Get Your Firm Status Updated by 31.01.2012 for Empanelment with C&AG and Bank Branch Auditors’ Panel
- ICAI issues Exposure Draft of Guidance Note on Rate Regulated Activities for comments
- Ex – ITAT Members can practise before the Benches of Tribunal where they were not posted – HC
- Validity of reopening of assessment should be judged only with reference to the reasons recorded by the Assessing Officer u/s.148(2)
- Salient Features of IRFC Tax Free Bonds – Opening on 27 Jan 2012
- Budget 2012- Government may bring provisions to tax overseas deals
- Punjab Polls – Candidates rope in CAs for managing poll expenses
- I-T official convicted in bribary case
- SEBI – Eligibility criteria for qualified depository participant
- Leave taken by CA Students during exams not to be included in the calculation of maximum Leave
- Direct Tax Code, 2010 (DTC) – Income from House Property
- Revised Public Provident Fund (PPF) Scheme w.e.f 01.12.2011
- Duties of Person Deducting Tax at Source (TDS)
- Penalty, Prosecution and Other Consequences of Non Deduction of Tax at Source (TDS)
- Rights of Person from whose income (payment) the tax has been deducted
- Digitization of Manually filed Service Tax Returns
- Vodafone ruling effect – Exporters question TDS on foreign payment post
- Inflation Forecasting- Issues and Challenges in India
- External Commercial Borrowings – Simplification of procedure
- External Commercial Borrowings (ECB) Policy – Infrastructure Finance Companies (IFCs)
- Deregulation of Savings Bank Deposit Interest Rate – Guidelines – DBOD.Dir.BC. 75/13.03.00/2011-12
- Section 42(1) of Reserve Bank of India Act, 1934 –Maintenance of Cash Reserve Ratio (CRR)
- Valuation of Interest free/ concessional loan to employee – SBI Interest rate on 01.04.2011 for computing Perquisite Value
- Maharashtra VAT – Extension of last date for filing of e-return & e-refunds application
- No addition can be made U/s. 68 if Assessee furnished Acknowledgement of Income Tax Returns of persons who advanced money
- S.143(2) Issue of notice is equivalent to its service
- If Quantum appeal restored back to AO for de novo adjudication then penalty proceeding too deserves to be restored back
- TRAI Exempts limit of 200 SMS Per day Per SIM for Machine to Machine and Person to Machine Messages
- Section 233B of the Companies Act, 1956 – Audit of Cost accounts in certain cases – order under section 233B(1)
- Seeks to impose anti-dumping duty on import of Geogrid/Geostrips/ Geostraps made of polyester or Glass fiber in all its forms, originating in, or exported from subject countries
- Seeks to impose anti-dumping duty on import of Morpholine originating in, or exported from, China PR, European Union and the United States of America
- Rescinds Notification No. 91/2011-Customs, dated the 20th September, 2011
- New Initiatives under MCA 21 System- Integration with Trade Mark Authority, XBRL reporting
- Third Quarter Review of Monetary Policy 2011-12 Press Statement by Dr. D. Subbarao, Governor
- RBI – Third Quarter Review of Monetary Policy 2011-12
- RBI reduces Cash Reserve Ratio (CRR) by 50 basis points to 5.50 per cent
- Law ministry demands more info in ITAT case
- Aadhaar is reliable and fool-proof – UIDAI
- 35 Customs and Central Excise Dept officers selected for Presidential Award
- Appointment of 13 Hon’ble Members to the Appellate Tribunal
- Macroeconomic and Monetary Developments -Third Quarter Review 2011-12
- Appointment of 5 Hon’ble Judges to the Bombay High Court
- Income Tax Provisions related to Pensioners, Senior Citizens and Super Senior Citizen
- Taxability of Retirement Benefits
- Deductions Under Chapter Via Applicable to the assessees having income from salaries
- Income Tax provisions Related to Expatriates Working in India and Indian Residents Posted Abroad
- Vodafone taxation case – I-T dept may not file review petition
- Analysis of SC judgment in the case of Vodafone International Holdings B.V. Vs. UOI
- Income arising from sale of shares to be taxed as ‘Long term capital gain’ and not as ‘Income from other sources’
- If the working condition and responsibilities and nature of duties are same than all staff should be equally paid -HC
- ICAI enters into an arrangement with TAXMANN to provide the contents of its website only at Rs.3500/- to the members of ICAI
- Taxability of Salary Income, Perquisites & Allowances
- Overview of Capital Gains
- CBI Files Chargesheet against Addl. Commissioner Income Tax, ACIT and a Businessman in A Bribery Case Of Rs. Two Crore
- Overview of Income from House Property
- HC upholds decision to levy service tax on flat, shop construction
- Retrospective amendment no basis to reopen beyond 4 years – HC Disapproves AO’s Practice to Delay Passing Objection Orders
- Bank wants TDs limit to increase to Rs. 50000/-, should be allowed to float infrastructure bonds
- Punitive charges paid by the assessee to Railways for overloading of the wagons is compensatory in nature, therefore, the same cannot be disallowed
- Need for Appropriate Policy Instruments to Address Areas of Concern in the Economy – FM
- The Company Secretaries (Amendment) Act, 2011- (No. 4 of 2012)
- ICSI – Schedule for the year 2012 with regard to various Cut-Off Dates
- Competition Advocacy is a Critical Function of Competition Agencies- Ashok Chawla, Chairman CCI
- Pranab, Khurshid meet over Vodafone tax ruling issue
- Rajini Power – Rajinikanth website really runs without internet
- If assessee failes to furnish the complete facts relating to the claim before the Assessing Officer then penalty u/s. 271(1)(c) can be imposed
- Unlawful interference of Caste Panchayats etc. with marriages in the name of honour – Law Commission Report
- Format of declaration for Claiming Deduction from Salary for A.Y. 2012-12 / F.Y. 2011-12
- Procedure for registration of Digital Signature Certificate and upload of Income Tax Return
- Gift Received by the Assessee on the ocassion of his Daughters Marriage is taxable
- Vodafone wins $2.50 billion tax case tax case in Supreme Court
- No Penalty under section 271(1)(c) Despite Surrender After Detection
- Remuneration not allowed if not specified in Partnership Deed
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- No penalty can be levied if there is a reasonable cause for not quoting of PAN numbers in e-TDS return
- Creation and Taxation of Private Trusts
- Suresh Kalmadi gets bail
- SEBI – Call auction in pre-open session for Initial Public Offering (IPO) and other category of scrips – Circular No. MRD/DP/ 01/2012, Dated 20-01-2012
- SEBI Mandates Circuit Limit for Cos on Listing Day Itself
- SEBI – Investor Grievance Redressal Mechanism at Stock Exchanges – Circular No. MRD/DSA/03/2012, Dated 20-01-2012
- SEBI – Composition of Arbitration Committee – CIRCULAR NO. MRD/DSA/04/2012, DATED 20-01-2012
- RBI clarifies Small savings interest rates will remain fixed
- Procedure for verification of answer books of November/December 2011 CA Examinations- Final, PCE, IPCE/ATE/Units and CPT
- Master Circular on External Commercial Borrowings and Trade Credits – Updated as on January 20, 2012
- Procedure for providing inspection/certified copies of evaluated answer-books to CA students
- Right to appointment of an Arbitrator does not get automatically forfeited after expiry of 30 days as prescribed under Section 11(4) & 11(5) of the Act – SC
- In case of default by the employer by an exempted establishment, in making its contribution to the Provident Fund Section 14B of the Act will be applicable – SC
- Master Circular on Compounding of Contraventions under FEMA, 1999 -Updated as on January 20, 2012
- Autorickshaw driver’s son cracks CA at first attempt
- New President and Vice President of ICSI for 2012
- ICWAI gets its Name Changed to ICAI and its Members to use ACMA and FCMA
- CBI files chargesheet against lady I-T Additional Commissioner
- SC may pronounce its judgement on Vodafone today
- Posting of CITs as Accountant Member in the ITAT – Order No. 17 of 2012
- FM holds Pre Budget institutions with Representatives of Banks and Financial institutions
- Depreciation Rates as per Companies Act
- Apply online for re-sending of CPC-Intimation u/s 143(1)/154 & income Tax Refund
- CA Final November 2011, CPT December 2011 Examination- List of Toppers, Pass percentage, Analysis year-wise / gender-wise / Region-wise
- Employee’s Provident Fund Act, 1952 vis-á-vis Income Tax Act 1961- Tax Treatment of PF Dues
- Housing and Urban Development Corporation Limited (Hudco) -Tax benefits and silent Features of proposed tax Free Bond issue
- Amend Custom Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995
- CIT (Appeal) to follow the decision of Tribunal even if the Appeal is pending in high Court against the decision of Tribunal
- Seeks to notify Refund of Anti-Dumping Duty (Paid in Excess of Actual Margin of Dumping) Rules, 2012
- In case of inheritance, if assets were acquired by the previous owner before 1st April, 1981, then, cost index should be based on the index of financial year 1981-82
- CBDT directs Income Tax Department to Launch Special Drive for Verifying High Value Transactions
- All about Rise and ‘fall’ of Yahoo! co-founder Jerry Yang
- ICAI recommends uniform accounting system for educational institutions
- I T dept slaps Rs 1,067-crore demand notice on telecom giant Bharti Airtel for non-payment of TDS
- ID proof compulsory for passengers traveling in AC first Class Train Coach from 15th February 2012
- RBI to issue Rs 100 notes which will have the rupee symbol
- Laxman Das appointed CBDT Member (Revenue)
- Corporate Affairs Minister calls for Making Country’s Growth more Inclusive
- New Guidelines for preferential allotment by unlisted public companies
- Publication of Latest Acts in the Gazette of India
- CA Final November, 2011, CPT December, 2011 result expected to be declared today at 2.00 P.M
- States Seek Growth-Centric Budget in Pre-Budget Consultations with union Finance Minister
- Govt to address slippages in economic parameters in Budget – FM
- How to Fill PAN Form No. 49A
- Income Tax deductions under chapter VIA for A.Y. 2012-13
- Sebi cut the timeline for completion of buy back of shares by listed companies to 34-44 days
- Gold and Silver to become expensive as Govt changes Import Duty and Excise Duty Structure
- Revenue cannot prefer appeal before ITAT if tax effect is below the prescribed limit of Rs. 3 lacs
- ITAT restored the matter to CIT(A) as order was by passed him in haste
- Exemption U/s. 10(23C)(iv) not available if assessee has not maintained separate books of account for the activities which are in the nature of business
- Sale of Under Construction Property – Taxability, Nature of Gain, Date of Indexation, Benefit U/s. 54 or 54EC
- ICWAI – Act to Change of name of Cost accounting institute and to change acronym used by its members
- RBI – Crisis Preparedness in Interconnected Markets – Prevention is Better than Cure
- Risk Management and Inter-Bank Dealings – Commodity Hedging
- Seizure of Idols/Statues of 9th to 12th Century AD believed to be Antiques
- Change in Tariff Value of Gold and Silver Notified – Amends Notification No. 36/2001-Customs(N.T) dated the 3rd August 2001
- Some Helpful Tips For Filing Wealth Tax Returns
- Section 80CCF – Long Term Infrastructure Bonds – Srei Infrastructure Finance Ltd.
- Transfer/posting of officers following promotion to the grade of Joint Commissioner of Income Tax – Order No. 14 of 2012
- Transfer and posting of Additional / Joint /Deputy / Assistant Commissioner of Income Tax – Order No. 13 of 2012
- CBEC Announces Reward Scheme for Information on Defaulters
- Developer Need Not Be Owner of land to claim deduction U/s. 80-IB(10); Can Claim deduction even if development permissions obtained in the name of original land owners
- CIT (A) cannot pass the order without adjudicating on the plea of the Assessee
- HUF cannot be a partner in firm but it is competent to the manager or karta acting on behalf of the HUF to enter into a valid partnership
- Human Resource Accounting Meaning, Need and Focus
- IDBI MF offers Regular Cash Flow Plan (RCFP) under its Monthly Income Plan
- Increase in customs duty on Gold and silver in any form when imported into India by an eligible passenger
- Increase in customs duty on Silver and Gold in any form imported into India, other than through post, courier or baggage
- Customs – Seeks to impose safeguard duty at the rate of 10% ad valorem, on Phthalic anhydride
- Further amends Notification No. 21/2002-Customs, dated the 1st March, 2002
- Download Retirement Calculator for Government Employees in Excel Format
- Vodafone to list its shares in India
- RBI – Infrastructure Financing in India – Progress & Prospects
- Budget 2012 – Finance Minister holds Pre Budget Consultations with Trade Union Groups
- If the contract is a works contract, then the service tax liability will only arise from 01/06/2007
- China Investments.. Opens South Korea
- Budget 2012- Assocham asks govt to retain excise duty, service tax at at existing rate of 10 per cent
- Amends Notification No. 23/2003-Central Excise, dated the 31st March, 2003
- BSNL invites applications for empanelment of Cost Accountant Firms for appointment as Cost Auditors for 2011-12
- FM expect inflation to come down between 6 and 7% by the end of March 2012
- Amends Notification No. 5/2006-Central Excise, dated the 1st March, 2006 related to rates of duty on Gold and Silver bar
- Government proposes to set up National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT)
- India’s Export Grows by 25.8% in April- December 2011 at US $ 217.6 Billion -Commerce Secretary
- Regarding Refund of 4% CVD (SAD)-Extension of time upto 31st March 2012, for using re-credited 4% CVD (SAD) amount in DEPB
- Amends notification No.70/2010-Customs, dated the 25th June, 2010
- Amends Notification No. 36/2001-Customs(N.T) dated the 3rd August 2001 – Notification No. 3/2012 – Customs (N.T.)
- Peak Credit and telescoping theories in assessment proceedings under Income Tax
- Legal fiction u/s 50C cannot mean that deemed sale amount of property is actually received
- Some Helpful Tips for Filing Income Tax Returns
- Calculate Interest U/s. 234A, 234B, 234C; Return Due Date & Consequences of Late Filing
- Assessment of Charitable Trusts and Institutions
- Income Tax on Co Operative Credit Society & Pat Pedhis
- Taxability of Capital Gain Under the Income tax Act, 1961
- Salary income – Taxation of Perquisites
- Income Tax Ombudsman Origins, Current Status, Procedure, Power, Duties, Nature of Proceedings – Awards, Check List and Grievance you can Complain
- No Excise Duty Exemption if conditions mentioned in Exemption Notification of Excise Rules not complied – SC
- Excise Duty – Tailor made machines – Manufacture not complete till it meets the contractual specifications and subjected to individual testing
- Excise Duty – Process of mixing polymers and additives with bitumen does not amount to manufacture
- Govt asks I-T officials to file immovable property returns by month-end
- EU officials criticise downgrade of Credit ratings
- Section 10A deduction is available to a new unit even though STPI approval refers to it as expansion of existing unit
- Income received by a foreign company for granting film distribution rights not ‘royalty’
- Loss arising on sale of shares of wholly owned subsidiary deductible as business loss
- Concessional rate of 20% applicable to long term capital gains cannot be applied for gain on depreciable asset held for more than 36 months
- FAQ on New Schedule VI to the Companies Act, 1956
- Transfer Pricing – ITAT Explains Law On Adjusting For Differences In Comparables
- Procedure for Filing Income Tax Settlement Application- Admission, Validation and settlement of the Application
- Income Tax Settlement Commission – Frequently Asked Questions
- Provisions of DTC Bill, 2010 relating to Settlement Commission
- Exemption to Trust U/s. 11 of Income Tax Act can not be denied if Payment made to concerns covered U/s. 13(3) not excessive
- Direct Tax Code- Proposed Changes in Transfer pricing regulations
- Rule 8D not applicable to Assessment years prior to the year in which Rule 8D comes in to force
- Procedure to Reset Password of efiling of Income Tax Return
- Investing In 2012
- ICSI – Introduction of New Syllabus & Pattern for Foundation Programme Examinations from December, 2012 Session
- Government grants sanction to prosecute Google, Facebook and 19 other social networking sites
- CBI Arrests a Commissioner Of Central Excise, Delhi In Bribery Case
- FM – Stress has to be put on direct tax collection
- RBI – Foreign investment in Single – Brand Retail Trading – Amendment to the Foreign Direct Investment (FDI) Scheme
- (I) Scheme for Investment by Qualified Foreign Investors in equity shares (II) Scheme for Investment by Qualified Foreign Investors in Rupee Denominated Units of Domestic Mutual Funds – Revision
- e-Payment through ICEGATE for all Custom Locations
- SEBI circular on Investment by Qualified Foreign Investors (QFI) in Indian equity shares.
- RBI Guidelines on Compensation of Whole Time Directors / Chief Executive Officers / Risk takers and Control function staff, etc
- Regarding Revised roles and functions of CIT (CO)
- Revised Trade Treaty between India & Nepal
- Seeks to impose anti-dumping duty on imports of Saccharin originating in, or exported from, People’s Republic of China
- Rescinds Notification No. 136/2009-Customs, dated the 9th December, 2009
- Regarding anti-dumping duty on imports of Cellophane Transparent Film (CTF) originating in, or exported from, People’s Republic of China
- Regarding import of Phosphoric Acid of all grades and all concentrations (excluding Agriculture / Fertilizer Grade) originating in, or exported from, Israel and Taiwan
- Seeks to impose anti-dumping duty on imports of Nylon Filament Yarn originating in, or exported from, People’s Republic of China, Chinese Taipei, Malaysia, Thailand and Korea RP
- Seeks to impose anti-dumping duty on imports of Silk fabrics originating in, or exported from, People’s Republic of China
- Notification No. 2/2012 – Customs (N. T.) – Tariff Values of Edible Oils, Brass Scrap (All Grades) and Poppy Seeds Notified
- Last Date of Registration for Post Qualification Course in Diploma in Insurance and Risk Management for November, 2012 Technical Examination
- Know Income Tax Refund Status
- All about Permanent Account Number (PAN) and how it is structured
- How to open your ITR V / ITR Acknowledgement
- Check status -Income Tax Refund,Return Processing, Refund dispatched
- Brought Forward business Loss can not be set off against Capital Loss on sale of Depreciable Business Assets
- Delhi HC to Facebook, Google – Remove obscene content or face blocking as blocked in China
- ICAI – Procedure for Providing Inspection or Certified Copies of Evaluated Answer Books
- Despite Dependence, Arms’ Length Agent is Not Permanent Establishment (PE)
- Status of various Bills Presented in Parliament or pending to be present
- Performance of CBI in 2011
- Agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion with Foreign Countries – Georgia
- Comments/Suggestions for future XBRL Implementation
- Finance Minister holds Moderation in Inflation Would Continue in Coming Months
- Insurance – Standard Instructions and Guidelines Applicable for Approval/Renewal of Agents Training Institutes
- RBI – Export of Goods and Services – Forwarder’s Cargo Receipt
- Filing of applications for DEPB in cases of exports made under `EPCG Shipping Bills` for items `Cotton yarn including Melange yarn` from 01.04.2011 to 04.08.2011 and `Cotton` from 01.10.2010 to 04.08.2011
- Tax & Loan Eligibility benefits from Home loan in Joint Names
- CBI register case against three custom official for fraudulent clearance of goods
- Compounding of offences under Income tax Act, 1961
- Certificate Course on Valuation is scheduled to start at Mumbai, with Fees INR 25000 from 21st-22nd January, 2012. Please Register
- Result of the Information Systems Audit [ISA] Assessment Test held on 24th December, 2011 is likely to be declared tentatively on 18th January, 2012
- November, 2011 Exams – ICAI likely to declare CA Final and CPT examination Result on 18th January, 2012
- Salient Features of Tax Free Bonds Proposed to be issued by Indian Railway Finance Corporation Limited
- 14A applicable even for the period when Rule 8 was applicable
- PFS Long Term Infrastructure Bond – Tax Benefits and issue details
- Donation in kind not eligible under section 80G but eligible u/s 37
- Kolkata CA firm fixed ITAT for getting favourable orders passed, CBI Chargsheet against him and ITAT members
- Finance Minister Launches the Signature Tune of the Indian Customs – Pragati Ki Dhadkan
- Maharashtra – e-payment of Profession Tax
- Finance Minister Holds First Pre Budget Consultations with Agriculture Group
- Post Your Views/ Comments on ICAI Vision 2030
- Minimum Export Price of Onions – Notification No 94 (RE – 2010)/2009-2014
- Sales Tax – Penalty can not be cancelled just because same been levied against the owner of the vehicle and not against the person in-charge of the vehicle
- Service tax Return Filing Due Date Extended
- EPFO may lower the interest rate on deposits to 8.6 per cent
- Section 80CCF – Salient Features of L&T Infra Long Term Infrastructure Bonds 2012A Series
- PMS transactions taxable as business profits – ITAT’ takes Contrary View
- Property license fees is income from other sources and can not be treated as income from house property
- Govt notifies 100 Per Cent FDI in Single Brand Retail
- Price Waterhouse files suit against former chairman of Satyam B Ramalinga Raju, demands 100 crore damages
- Profession Tax – States wants increase in Upper limit of Rs 2,500
- RBI – Complain to Local Police/Cyber Crime Authorities against Fictitious Offers of Money from Abroad
- The salient features of Draft National Competition Policy
- GST – State FMs agrees to concept of services tax based on the ‘negative list’
- India’s Sovereign Credit Ratings- Fourth Upgrade by Moody’s Investor Services
- Indirect tax collection up by over 16 % to 2.85 lakh cr in April-December
- ICAI announces revision in Fee of Expert Advisory Committee
- Govt. approves 20 Proposals of Foreign Direct Investment of Rs. 1935.24 crore approximately
- SEBI – Disclosure of Track Record of the public issues managed by Merchant Bankers
- Deduction under section 80E for Interest on education Loan taken for self and relatives
- May 2012 Examination – ICAI announces dates for PCE , IPCE, CA Final Exams
- New virus raids your bank account
- E-filing of tax returns – Court cannot order that rule should be applied retrospectively, though E-filing should be encouraged
- ‘Red Label’ cannot be trade mark as words are common to the trade and not distinctive
- Know your Permanent Account Number / PAN
- Section 80C – IOB Tax Saver Scheme
- All about F forms under CST Act, 1956
- RBI wants CAs to ensure solvency of banks
- Share application money and repayment thereof do not violate Sections 269SS & 269T
- Black money Abroad-I-T department to obtain signed undertaking for sharing info with any government entity or department
- Effect of making registration certificate applicable from retrospective date is based on the principle of deemed equivalence to public user of such mark which cannot be extended to the Excise Law
- Exchange loss on refund of advances from customer allowable irrespective of use of funds
- ICAI Convocation (II) – 2011 for the newly enrolled Members admitted during the period April, 2011 to August, 2011
- Guidelines on Handling of Court Cases and Other Litigation Matters Relating to Sezs
- Interest Subvention Scheme claims to be certified by statutory auditor of bank
- Updation of Import Export Code (IEC) as per Public Notice No. 84/2009-2014 (RE-2010) dated 11th November 2011
- Seeks to extend levy of anti-dumping duty imposed vide Notification No. 98/2006-Customs, dated the 13th September, 2006, upto and inclusive of 1st September, 2012
- Appointment of Common Adjudicating Authority –
- Insurance – Clarification on the Guidelines for Pension Products
- DTC Bill no deemed taxation for Income from house Property and kept the deduction for interest
- Deduction of depericiation on machinery and tools from the works contract should be allowed
- Section 220(2) Interest Payable Even For Period When Demand Not Enforceable – Delhi High Court
- The Shrinking Money and RBI’s Monetary Policy
- Evolving Customer friendly Payment Systems in India – a continuing agenda
- Banking Sector – Maintaining Resilience to Risk and Shock and the role of the Accounting Profession
- Articles 7 of the Indo-Australia DTAA vs. Section 44D on FTS – Delhi High Court Reverses Law
- Plea of alternative remedy cannot be accepted if question involved lacks jurisdiction on admitted facts
- If assessment order does not specify charging of interest, then it could not be charged or levied U/s. 156
- Royalty payment approved by RBI under FERA, 1973 considered adequate approval as per Industrial policy of the Government of India
- It is not necessary for the assessee to produce its products so as to become eligible for claiming exemption under section 10B of the Income-tax Act, 1961
- Non-prospecting related expenditure incurred prior to commencement of mining is deductible u/s. 37 of the Income-tax Act
- Transfer pricing is founded on the principles of economic substance and hence, it is fact specific – ITAT Pune
- Non-compete fees accrues on the appointed date of the Scheme and not in the year of approval
- Excise Department superintendent and middleman sent to CBI custody for 3 more days
- FM meets CBDT, CBEC offcials and asks to focus on collection of arrears to maximise the revenue collection
- Sanction of CIT instead of JCIT renders reopening u/s. 147 of Income Tax Act invalid
- 10 Gms of GOLD PRICE History for the last 86 years in India
- PwC fined £1.4 million by regulators
- All about Centralised Processing of Returns Scheme, 2011
- Amendments to the procedure for processing of returns filed under the Centralized Processing of Returns Scheme
- Service Tax Registration – Conversion of temporary based registration (STC) into PAN based registration
- ICAI charges Satyam CEO Vadlamani amd Auditor Srinivas of misconduct
- Transfer fee received from the incoming Members is exempt on the principles of mutuality in the case of co-operative housing societies
- Appeal does not mean merely filing of the appeal but effectively pursuing it
- Revised draft Bank Branch Auditors’ Panel for the year 2011-12
- Addition under S. 68 cannot be made for loan taken in earlier years
- Biggest disclosure of black money – Delhi Businessman discloses Rs 73 cr black money stashed abroad
- All about ISO 9000
- Empanelment with CAG for audit of Public Sector Undertakings/Statutory Corporations for the year 2012-2013
- NSDL announces Concessional rate for volume based PAN verification
- Depreciation should be reduced from the income for determining percentage of funds which had to be applied for the purposes of the Trust
- Pre-paid users can get itemised bill by paying Rs 50 – Trai
- Govt to notify 100% FDI in single-brand retail soon
- FMs speech at International Conference organised by ICAI
- Rules/Amendment Rules – Guidelines for Notification of affordable housing project under section 35AD
- ICAI Invites to Participate in the Activities of the Internal Audit Standards Board on January 08, 2012
- CBI arrests an Enforcement Officer in Bribery Case
- Section 120 of the Income-tax Act, 1961 – Income-tax authorities – Jurisdiction of – DIT (International Taxation) – Amendment in Notification No. S.O. 881(E), dated 14-9-2001
- CBI Registers Case Against Officials of Chennai Customs, Conducts Searches, Seizes Rs 1.11 cr
- Section 118 of the Income-tax Act, 1961 – Income-tax authorities – Control of – DGIT (International Taxation) – Amendment in Notification No. S.O. 279(E), dated 12-3-2003
- RBI – Reflections on Leaders and Leadership
- Financial Market Volatility and the Risk Management Imperative
- DGFT permits Export of 8,300 MTs of white sugar to USA under Tariff Rate Quota
- Allocation of 10,000 MTs of white sugar for the year 2011-12 (October, 2011- September, 2012) for export to EU under CXL Quota
- Amendment in Appendix-3 to Schedule-2 of ITC(HS) Classification of Export and Import Items,2009-14-regarding supply of SCOMET Items from DTA to SEZ
- Empanelment for migration audit of Neelachal Gramya Bank CBS system
- Implementation of Section 51-A of UAPA, 1967- Updates of UNSCR 1267 (1999) and 1989 (2011) Committee’s Al-Qaida Sanctions List – Notification No. RPCD.CO.RCB.AML.No.6764/07.02.12/2011-12
- Joint Development Agreement – If Developer has performed or willing to perform his part of the contract, then the transaction would qualify as ‘transfer’
- Amount Received for Contract work but not disclosed can not be added fully to income
- Rs 135 crore tax income tax notice on IAS couple for alleged tax evasion
- SEBI launches India’s first KYC Registration Agency
- Income Tax Arrear Letter from CPC Bangalore just a communication of demand not a demand notice, No need to respond to tax notices for below Rs 100
- ICAI announces Amnesty For Retrospective Restoration of Names From Register of Members and Certificate of Practice
- Regarding refund of 4% Additional Duty of Customs (4% CVD) in terms of Notification No. 102/2007-Customs dated 14.09.2001
- How to Draft CIT / ITAT Appeal & Procedure
- Enforcement Directorate asks IT Dept to provide it with I-T returns and other financial statement of secret LGT Bank Account holders
- External Commercial Borrowings (ECB) – RBI raises Foreign Currency Convertible Bonds limit to $750 mn
- Implementation of Section 51-A of UPA, 1967 – Updates of the UNSCR 1267 (1999) and 1989 (2011) – RPCD.CO RRB.AML.No. 6723 /03.05.28(A)/2011-12
- NSDL releases new e-tds Return Preparation Utility (RPU) version 2.7
- Popularly used Abbreviation in India with full Form
- Union Budget to be presented after March 9 – Finance Minister
- Service tax on Rail Freight – Deferred for sixth time in a Row
- Format of Statutory Registers to be maintained under Companies Act, 1956
- Existence of a Principal – Agent relationship must for applicability of the provisions of Section 194H
- Interest on all small savingSchemes are fixed except on PPF deposits
- Simplified scheme for the refund of service tax
- Advertisement expenses when incurred to increase sales of products are revenue expenditure
- If for earning exempted income no expenditure has been incurred, disallowance under Section 14A cannot stand
- Companies Bill may be cleared in forthcoming Budget session
- Extension of Common Proficiency Course (CPC) registration date upto 4th April, 2012
- if assessee holding shares as investment and as stock-in-trade separately and if this position has not been doubted in earlier years, then the same cannot be altered merely because of amendment in law
- Tribunal may dismiss appeal as unadmitted if appellant do not attend the hearing
- Appeal filed in violation of CBDT instruction related to tax effect is liable to dismissed
- Amendments Proposed in Consumer Protection Act to Facilitate Faster Disposal and On line filing of consumer complaints
- Govt makes hallmarking of gold jewellery mandatory
- CBI arrests Vijay Sai Reddy, auditor of Y S jagan; Who is Vijay Sai Reddy?
- Important notice on Digital Certificates( SHA2)
- Direct tax collections for this fiscal up by 14.54 per cent – CBDT
- Issue of Acknowledgement of Loan Applications to MSME borrowers
- Amends Notifications no. 03/2006-Central Excise and 6/2006-Central Excise both dated 1st March, 2006
- Implementation of Section 51-A of UAPA, 1967 – Splitting of UNSC 1267 Committee’s list of individuals and entities linked to Al-Qaida and Taliban – RPCD.CO.RCB.AML.BC.No 52/07.02.12/2011-12
- Expenditure incurred for running the business or working it, with a view to produce profits is in the nature of revenue expenditure
- File validation Utility (FVU) version 3.3 for FY 2010-11 onwards and version 2.131 for upto FY 2009-10 released
- Book Your Train Reservation Ticket While on Move through Mobile Phone
- Transfer Pricing – Non-Reference To TPO Renders Order ‘Erroneous’ and prejudicial to revenue
- For disallowing interest AO must give a finding with regard to the nexus between the interest bearing funds available and interest free advances made during the year
- Transfer Pricing – ALP of Interest-Free Loan – ITAT Delhi Explains Law
- Notification to Provide average Rates of Service Tax Refund for a wide Range of Goods Exported from India
- CBI Registers Case against Commissioner of Central Excise, Delhi, A Superintendent and Middlemen For Demanding Bribe
- Service tax – Taxability of import of International Private Leased Circuit services
- Savings a/c number portability – Change your bank without changing your Saving account Number
- ICWAI President Communiqué January, 2012
- SEBI – Changes in Re-investment period of FII debt limit
- Mere passage of 3 years will not mean that liabilities are no longer payable – Section 41(1) can not be ivoked for non trading Liabilities
- Manner of increasing minimum public shareholding to comply with Securities Contracts Regulation (Rules), 1957 and Amendment to SEBI (Buyback of Securities) Regulations,1998
- Government decides to double strength of foreign tax division
- Negotiated Dealing System (NDS) – Order Matching (OM) – Grant of membership to UCBs
- Exchange Traded Interest Rate Futures on 2-year and 5-year Notional Coupon Bearing Government of India Security
- Government not yet decided the final date of Union Budget for 2012-13
- RBI may reverse the tight monetary stance adopted by it since March 2010
- SEBI launches toll free Helpline Service for Investors in 14 languages
- Seeks to amend notification no. 119/2010-Customs, dated 19th November, 2010 so as to revoke anti dumping duty on subject goods originating in or exported from Saudi Arabia
- Amends Notification No.27/2011-Customs, dated the 1st March, 2011- Notification No. 129/2011 – Customs
- Amends notification no. 53/2011-Cus dated 1-7-2011 so as to effect HSN changes as well as to provide deeper tariff cut to Malaysia
- Imports from ASEAN Countries – Rates Reduced – Notification No. 127/2011-Customs
- 1 Percent Customs Duty for Imports from Brunei Darussalam – Notification No. 126/2011-Customs
- Concessional Customs Duty for Imports from Pakistan and Sri Lanka
- Amends notification no. 69/2011-Cus dated 29-07-2011 so as to effect HSN changes and to provide deeper cuts on two items namely tariff items 8408, 2020 and 870840
- Amends notification no. 152/2009-Cus dated 31-12-2009 so as to provides deeper tariff cuts as agreed under India-Korea CEPA and effects HSN changes as well
- Amends Notification No.151/2009-Customs, dated the 31st December, 2009 so as to effect HSN changes.
- Amends notification no. 28/1995-Cus dated 16-03-1995, 105/1999-Cus dated 10-08-1999, 26/2000-Cus dated 15-03-2000, 76/2003-Cus dated 13-05-2003, 72/2005-Cus dated 22-07-2005, 57/2009-Cus dated 30-05-2009 so as to effect HSN changes
- Amends Notification No. 21/2002-Customs, dated the 1st March, 2002 – Notification No. 120/2011-Customs
- Amends Notification No. 69/2004-Customs, dated the 9th July, 2004
- Amends Notification No. 20/2006-Customs, dated the 1st March, 2006 vide Notification No.118/ 2011 – Customs
- IRDA – Asset-Liability management and Stress testing – Guidelines on Asset Liability Management Reporting
- Amends Notification No 25/1999-Customs, dated 28th February, 1999, 22/2007-Customs, dated the 1st March, 2007 and 27/2011-Customs, dated the 1st March, 2011
- Amends Notification No. 101/2007-Customs, dated the 11th September, 2007 so as to effect the HSN changes
- Amends Notification No. 36/2001-Customs(N.T) dated the 3rd August 2001 notifying tariff values of edible oils, brass scrap (all grades) and Poppy seeds
- Appointment of Central Excise Officers in relation to service tax refunds arising out of Notification No. 52/2011-Service Tax, dated 30.12.2011
- Amends Central Excise Rules, 2002 – Notification No. 32/2011-Central Excise (N.T.)
- Amends Notification No.16/2011-Central Excise (N.T.), dated the 18th July, 2011
- Amends Notification No. 49/2008-Central Excise (N.T.), dated the 24th December, 2008 to affect the HSN changes w.e.f. 01.01.2012
- Amends Notification No.21 /2005-Central Excise, dated the 13th May, 2005 to affect the HSN changes w.e.f. 01.01.2012
- Amends Notification No. 26/2001-Central Excise, dated the 11th May, 2001 to affect the HSN changes w.e.f. 01.01.2012
- Amendment in Various Excise Notificationsto affect the HSN changes w.e.f. 01.01.2012
- Amends notification Nos. 62/1995-Central Excise, dated the 16th March, 1995 and 20/2005-Central Excise, dated the 13th May, 2005 to affect the HSN changes w.e.f. 01.01.2012
- Export of goods – Exemption to specified taxable services received by an exporter of goods for export of goods – Supersession of Notification No. 17/2009-ST, dated 7-7-2009
- Transport of Goods by rail service – Abatement provisions – Amendment in Notification No. 9/2010-ST, dated 27-2-2010 – Exemption extended till 1-4-2012
- Formation of the Operational Committee to oversee and guide the functioning of the Indian Motor Third Party Declined Risk Insurance Pool
- Motor Third Party Pool Reserves and Account Reserves
- Exemption to Transportation of specified commodities by rail service – Amendment in notification No. 8/2010-ST, dated 27-2-2010 – Exemption extended till 1-4-2012
- SEBI – Master Circular on Matters Relating to Exchange Traded Derivatives
- Transport of Goods by Rail Service – Exemption to transport of Goods by rail – Amendment in Notification No. 7/2010-ST, dated 27-2-2010 – Exemption extended till 1-4-2012
- ICWAI and Accounting Institutes of USA and Australia agree for mutual recognition
- Implementation of Section 51-A of UAPA, 1967 Updates of the UNSCR 1267(1999) and 1989( 2011) Committee’s Al Q-aida Sanctions List – Circular No. DBOD. AML. No. 9855 /14.06.001/2011-12
- An Overview of The Companies Bill, 2011
- The designation ‘Chartered Accountant’ do not have a colonial baggage in it ; All that is English or British is not colonial
- In the absence of appearance on the date of hearing and absence of application for adjournment may cause the appeal dismissed
- Tedious (TDS) Deduction Scheme- Practical Issues
- Order passed under section 143(3) not valid if passed without the valid service of notice under section 143(2) with in the limitation period of 12 months
- ITAT held that sale of shares by the assessee to the firm in which he is a Partner as a genuine transaction
- Public sector financial institutions under obligation to fairly consider OTS proposal keeping in mind the RBI guidelines – Delhi HC
- Foreign individuals can invest directly in public issues
- Soon companies may be allowed to sell shares through electronic Initial Public Offers (e-IPOs)
- India’s Foreign Trade – November, 2011
- RRBs – Implementation of Section 51-A of UAPA, 1967-Splitting of UNSC 1267 Committee’s list of individuals and entities linked to Al-Qaida and Taliban
- PFC Tax Free Bonds – Income Tax, Wealth Tax and DTC Provisions in brief
- Company Law – Structure of Additional Fees In Respect of Annual Filing of Private/ Public Limited Companies
- Object of Section 12AA of the Act, is to examine the genuineness of the objects of the Trust, but not the income of the Trust for charitable or religious purposes
- Would the payments made by a company to BSNL/ MTNL for the services provided through interconnect / port / access / toll be treated as “fees for technical services” to attract the provisions of tax deduction at source under section 194J?
- Can EPABX and mobile phones be treated as computers to be entitled to higher depreciation at 60%?
- Addition U/s. 69B can be made in the absence of documentary evidence in respect of the purchase and sale of Property
- Rule 8D applicable from A.Y. 2008-2009, however direct and indirect expenses to earn exempt Income has to be disallowed under Section 14A
- India to sign DTAA with Macau
- ICAI warns against misuse of question papers, suggested answers, revisionary test papers, supplementary study material, result etc pertaining to CA examination
- ICAI extends last date for compliance of CPE hours requirement for Members holding COP for calendar year 2011
- Last date for filing Refund Application in Form 501 and Due date for submission of Monthly Return for the month of November 2011 extended till 7th January 2012
- State Bank of India: Interest Rates on 1st April, 2011 – For the purpose of computing perquisite valuation
- CIT (Appeals) have inherent and implied powers to grant stay – HC
- CIT can set aside 143(3) assessment if creditors not been verified during the Assessment
- Cash seized should be adjusted advance-tax liability from the date of seizure
- Re-assessment proceedings cannot, be initiated on the ground that the Assessing Officer was legally wrong and had misapplied and wrongly understood the law/legal position
- Power to reopen an assessment cannot be exercised to reopen what formed subject matter of an appeal to Commissioner (Appeals)
- Return treated as non est and ‘invalid’ cannot be treated as allowance or deduction – So Interest waived by bank cannot be charged to tax under s. 41(1)
- ITAT may dismiss appeal for non attendance by the Assessee
- TDS U/s. 194C not deductible on Packing or Printed material supplied to us as per pur specification
- Tribunal may allow additional documents to be produced or witness to be examined or affidavit to be filed or may allow such evidence to be produced
- Expenditures for value addition and for competing in the market are revenue Expenditure
- Genuineness of Unsecured Loan if assessee furnished copies of P&L Account, Balance Sheet, I. T. Returns, bank statement alongwith Confirmation
- Whether In case of revival of any order all the connected matters are also liable to be revived?
- Origin of Chartered Accountant and Countries having CA body
- RBI – NBFCs should not raise funds under private placement by issuing NCDs of maturity less than 90 days
- ICSI releases Pre-budget Memorandum for Union Budget 2012-13
- ICAI President’s Message – January 2012
- Gratuity Calculator for Central Government and Non-Govt Employees
- History of Accounting and Accounting Standards
- Role of Chartered Accountant in Your Growth
- Despite voluntary surrunder penalty u/s 271(1)(c) is justified if surrunder made after incriminating material is found
- EC deploys 204 Indian Revenue Service officials to monitor poll expenditure
- Conclave of ICAI Members in Entrepreneurship and Public Services
- RBI Releases Draft Guidelines on Basel III Capital Regulations
- Cash seized by IT department on the directions of EC will be returned only after completion of assessment
- RBI amends Directions on Exchange Traded- IRFs on G-secs To permit Two and Five Years IRFs
- DGFT – Supplies to non mega power projects entitled to benefits for Deemed Exports under Para 8.3(a) of FTP
- Revised Capital Adequacy Framework for Off-Balance Sheet Items for NBFCs-Clarification
- KYC Norms/AML Standards/CFT/Obligation of Banks under PMLA 2002 – Assessment and Monitoring of Risk – Notification No. RBI/2011-12/327 RPCD.CO.RCB. AML.BC. No.50/07.40.00/2011-12
- Implementation of Section 51-A of UAPA, 1967 – Splitting of UNSC 1267 Committee’s list of individuals and entities linked to Al-Qaida and Taliban
- ICWAI invites comments on Exposure Draft of Guidance Note on Classification of Product Group
- CBEC extends last date for ST-3 return filing to January 6, 2012
- Finance budget 2012-13 likely on February 29
- Companies (Accounting Standards) (Second Amendment) Rules, 2011 – Amendment in sub-heading ‘Accounting Standard (AS) 11’ relating to The Effects of Changes in Foreign Exchange Rates
- MCA Provides facility to register your Complaints and Grievances
- Applicability of the Institute’s Pronouncements, Publications for CA Final Examination May, 2012
- PCC, IPCC and CA Final Student – Non-applicability of Revised Schedule VI for May 2012 Examinations
- Approval u/s. 80G once granted shall continue to be valid in perpetuity unless a show cause notice issued by CIT showing intention to withdraw such approval
- Section 80G – Approvals already granted to the assessee u/s 80G, if expiring on or after 1.10.2009, shall be deemed to have been extended in perpetuity
- Sales tax incentive have direct nexus with the manufacturing activity, Commission paid to related parties at rates higher then unbrelated parties not allowable
- ITAT referred matter back to CIT(A) to consider revised computation filed at the time of assessment
- Companies (Accounting Standards) Amendment Rules, 2011 – Amendment in date of Applicability of Accounting Standard (AS) 11 relating to ‘The Effects of Changes in Foreign Exchange Rates’
- SEBI order in the matter of irregularities in recent IPOs of seven Companies
- External Commercial Borrowings (ECB) denominated in Indian Rupees (INR) – hedging facilities for non-resident entities
- Clarification regarding registration of contracts of cotton and cotton yarn with DGFT
- Clarification on Deemed Export benefits when imported capital goods are directly supplied as such to Project Authority – regarding
- Clarification regarding Handling of Cargo in Customs Areas Regulations, 2009
- Economic and Financial Developments in Andaman and Nicobar Islands
- Legislative Reforms- Strengthening Banking Sector
- Financial Reporting in the context of Financial Stability – A Regulator’s view on Some Accounting Issues
- Short Term Cooperative Credit Structure and Financial Inclusion
- CBEC declares Rate of exchange of conversion of each of the foreign currency with effect from 1st January, 2012
- Amends Notification No 85/2004-Customs, dated the 31st August, 2004 so as to effect the HSN changes
- If there is no failure or omission on the part of the assessee to disclose material facts reassessment procedding cannot be initiated
- CIT (A) should give opportunity to the A.O. to rebut the claim of the assessee in pursuance of fresh evidence produced before him
- If quantum assessment restored to file of AO, then penalty order will not survive
- Appeal by revenue not allowable if tax effect is less then monetary limit specified
- If borrowed amount not used to earn exempt Income, no disallowance can be made U/s. 14A
- Agreement for avoidance of Double Taxation and Prevention of Fiscal Evasion with foreign countries – Cayman Islands
- RBI cautions public against fictitious offers of cheap funds
- Weak rupee opens new avenues for NRIs
- ICAI proposes branch-level audit for private sector banks along the lines of PSU Banks
- Chartered Accountants (Amendment) Bill, 2010 permits CAs to form partnership with CS, ICWA
- Names of Audit Firms approved for appointment as Statutory Central Auditors in 25 Public Sector Banks for the year 2011-12
- Internal Control Framework – Design & Implement an SOP
- MCA Initiatives during 2011- Year End Review / Report Card
- Government may announce amnesty scheme for citizens having unaccounted wealth abroad
- India signs Protocol with the Government of Australia amending the India-Australia tax treaty
- Govt. introduces Money Laundering Bill in Lok Sabha
- Urban Co-operative Banks – Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits and Ordinary Non-Resident (NRO) Accounts
- Secondary market transactions in Government Securities – Short Selling
- Benefit of rebate u/s 88E is available to assessee in MAT Assessment on book profits u/s 115JB
- NHAI Tax Free Bond – Tax benefit and effects under the Income Tax Act, Wealth Tax Act and Direct Tax Code
- Tax provisions and other features of NHAI bonds with Benefits under Section 54EC
- Mere opinion of the Audit Party cannot form the basis for the Assessing Officer to reopen the closed assessment
- Waiver of unsecured loan is a capital receipt non chargeable to tax
- Lokpal Bill passed by Lok Sabha with seven amendments
- Annual general meeting – participation by shareholders or directors in meetings through electronic mode – Amendment in Circular No. 35/2011, dated 6-6-2011
- TDS on Salary Calculator with Form 16, Form 10E and HRA Calculator
- Company Law – Form 24AA; Is it mandatory for every year?
- Private Company can call Annual General Meeting (AGM) anywhere in the world
- Lokpal and other Landmark bills brought in to Tackle Corruption and Ensure Delivery of Services to Citizens in Time Bound Manner
- PM’s Statement in Lok Sabha during Debate on Lokpal Bill
- Election Commission not monitoring raising of funds by the team of Anna Hazare
- 55 directorate of income tax officials to monitore Election expenditure in Manipur
- 21 New Textiles Parks to Bring Rs 9000 Cr Investments
- Indian Economy will soon Revert Back to the Path of Higher Growth Trajectory
- Insurance Companies offering insurance for Losses from Marriage postponement
- General Election to Legislative Assembly of Goa, Manipur, Punjab, Uttarakhand and Uttar Pradesh 2012- Appointment of Observer
- ‘Volatility in Indian Rupee a temporary phenomena’
- Public issue of Debt Securities – SEBI Prohibition on payment of incentives
- Postings and transfers of officers to the grade of Chief Commissioners/Director Generals of Income Tax – CBDT Order No. 203 of 2011
- Promotion to the grade of Chief Commissioner of income Tax (CCIT) – CBDT ORDER NO. 202 OF 2011
- Standardisation and Enhancement of Security Features in Cheque Forms-Implementation of CTS 2010 standard
- Capital Requirement for banks’ investments in financial entities exempted from Capital Market Exposure
- Banks’ Exposure to Capital Market – Issue of Irrevocable Payment Commitments (IPCs) – Circular No. DBOD.Dir.BC. 68 /13.03.00/2011-12
- Amends Notification No. 96/2008-Customs, dated the 13th August, 2008
- Revised Capital Adequacy Framework for Off-Balance Sheet Items for NBFCs
- IRDA – Dismantling of existing Indian Motor Third Party Pool
- IRDA – Reforming Indian Motor Third Party Pool System
- Non-Banking Financial (Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 – Amendment in para 16(2)
- Credit Default Swaps – NBFCs as Users
- DGFT – Amendment in General Note No.5 for Textiles (Product Code: J)
- Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 – Amendment in para 16(2)
- Exim Bank’s Line of Credit to the Government of the Democratic Republic of Congo – A. P. (DIR Series) Circular No.62
- Exim Bank’s Line of Credit to the Government of the Republic of Maldives -A. P. (DIR Series) Circular No.61
- Invitation to join taxguru.in panel of esteemed authors
- ITR-I in Excel for A.Y. 2012-2013 + Form 16 with TDS Calculation
- Profits From offshore Supply of Hardware and Software Not Taxable – Delhi High Court
- Non-Compete Fees paid for acquisition of business is Capital Expenditure – Delhi HC
- In penalty proceedings assessee have right to contest levy of penalty independently, apart from the findings recorded in the assessment order
- If interest received on accrual basis the addition qua this year interest can be made in this year and not of entire interest
- Expenditure on leased telephone lines has been excluded from the purview of Fringe benefit Tax
- Rule 8D r.w. section 14A can not be applied for years prior to A.Y. 2008-09 so invoking of provision of section 263 of the IT Act not justified
- Toll collection on behalf of NHAI would come under the category of Business Auxiliary Service ; NHAI only a statutory authority and not a constitutional authority
- Intermediary transactions emanating from original transaction is immune from double taxation when the intermediary is not recipient of service
- Banking Services Set to Improve
- Companies Bill 2011 provides for refund of remuneration by company officials in case the accounts are re-stated
- Black Money Abroad – I-T department decides to reopen old tax returns of some individuals in Mumbai and Delhi
- Cestat remit the matter to the original authority In the absence of clear finding about the nature of service tax demand
- GAIL gets Top ICSI National award for Excellence in Corporate Governance
- Tax Agreement between France and Isle of Man Comes Into Force
- DGFT extends ban on import of milk from China
- SEBI to launch toll-free helpline
- RBI issues guideline to Guidelines on deregulation of Savings Bank Deposit Interest Rate
- RBI asks NBFCs to accept Letter issued by UIDAI containing details of name, address and Aadhaar number as KYC document
- RBI prohibits Money Masters Leasing & Finance Limited (MMLFL) from accepting deposits
- Amends Notification No. 8/2011-Customs, dated the 14th February, 2011
- Delhi HC upheld employee head count method for allocating cost towards STP unit for the purpose of computing benefit under Section 10A of the Income-tax Act,1961
- Interest for shortfall in payment of advance tax is leviable while computing `book profit’ under the existing provisions of MAT
- Revised Special Provisions for International Workers (FAQs)
- Revised Faqs Relating To Work Related Visas Issued By India
- Union Budget 2012 likely to be delayed by a few days
- Deemed service provider is entitled to avail Cenvat Credit on inputs/input services/capital goods for payment of GTA service tax – Stay Granted
- Service tax paid on input services of one unit can be distrubuted to other unit ; Recovery stayed
- Stay Petition – Existence of two different views justifies waiver of predeposit
- XBRL Report now available in Tally.ERP 9
- Whether trade discount amounts received from newspapers for sale of space to be treated as commission and taxable under the Business Auxiliary Service or not
- Service Tax –Commission received in advance cannot be considered as payment for service even prior to actual rendering of service
- Clubbing of Income under Income Tax Act, 1961
- Service Tax – If dispute involved was of technical nature then penalty not imposable
- Finance minister to kick off pre-budget meetings from Jan 11
- IASB proposes to clarify the transition guidance in IFRS 10
- Regarding Fraudulent withdrawals from the Accounts of EPFO through fake cheques instructions to avoid fraudulent payment
- AOs should not accept ITR-Vs from taxpayer and requested to send ITR-Vs of A.Y. 10-11 & 11-12 to CIT (CPC), Bangalore
- IASB clarifies its requirements for offsetting financial instruments
- ICSI National Award for Excellence in Corporate Governance 2011
- PSU oil companies starts showing components of petrol prices on their websites
- RTO clerk owns property worth R 40 crore
- ICAI to take action action against ex-CFO in Satyam case within a week
- ICAI recommends that companies be allowed to account for losses arising from foreign exchange derivative trade over several years
- Deferment in the date of effect for implementation of bar-coding on Primary and Secondary level packaging on export consignment of pharmaceuticals and drugs
- Amends Notification No. 15/2008-Customs, dated the 5th February, 2008
- Corrigendum to Notification 110/2010 – Customs, dated October 19, 2010
- No increase in Income Tax raid and survey in current Financial Year – Govt
- Online Public Search of Trade Marks before incorporation of Company
- If there is a bonafide mistake in calculation of service tax and same is made good by the Assessee, then penalty can not be imposed U/s. 75 and 78
- Yes Bank hikes interest rate on savings deposits above one Lakh to 7%
- Government withdaws Companies Bill, 2011
- Delhi HC issues summons to Facebook, Google, Yahoo and Youtube for hosting objectionable content
- Clubbing Of Income under the Income Tax Act, 1961 (Section 60 to Section 64)
- Bank not responsible for unauthorised use of your ATM Card
- CBDT Instructions regarding Effective date of passing of Examinations
- Farmer Associations Support FDI in Retail
- Govt reduces MEP of Non-basmati Rice to Boost Export
- ICWAI invites comments on the initial draft of ICWAI XBRL Taxonomy for Cost Audit Report and Compliance Report
- FM Calls For Inclusive Development and More Investment in Infrastructure Sector
- Guidelines in pursuance of the SEBI KYC Registration Agency (KRA) Regulations, 2011 and for In-Person Verification (IPV)
- CAG Report On Performance Audit On Central Excise And Service Tax
- AO cannot assess other ‘escaped income’ if reason for issue of Notice under section 148 dropped
- Business Support Services / financial services not in the nature of technical services within the meaning of Article 12.5(b) of the DTA between India and the Netherlands
- Advance Ruling Application can not be accepted if question raised in the application is already pending before any income-tax authority
- I- T department seizes Rs 300 crore in black money, including cash and jewellery, during April-October, 2011-12
- Merely because ITR-V sent to CPC not received for no failure on part of assessee, the return cannot be treated as invalid
- Download Lokpal And Lokayuktas Bill, 2011 and Read Full text
- Lokpal and Lokayuktas Bill 2011 Introduced in Lok Sabha
- Frequently Asked Questions Companies (Cost Accounting Records) Rules, 2011 and Companies (Cost Audit Report) Rules 2011- FAQ – 5
- KYC Norms/AML Standards/CFT – Obligation of Authorised Persons under PMLA, 2002
- Mobile Banking Transactions in India – RBI removes transaction limit of Rs. 50,000/- per customer per day
- Implementation of the Internal Rating Based (IRB) Approaches for Calculation of Capital Charge for Credit Risk
- All about New Company Secretaries (Amendment) Bill, 2010
- Regarding Online transmission of DES (Advance Authorization and DFIA ) and EPCG at Krishnapatnam Port (INKRI1) w.e.f. 23.12.2011
- Termination of contractual job can be challenged in court – SC
- Changes in Depreciation Rate on Plant and Machinery as per Companies Act
- Govt taking action against Kingfisher for TDS payment default
- Advance tax collection from top 100 companies declined by 1.4 per cent
- IRDA – Claim consultancy by Insurance Brokers
- Regarding continuation of anti-dumping duty on ‘Sodium Hydrosulphite originating in, or exported from, China PR
- Exclusion from the Second Schedule to the Reserve Bank of India Act, 1934 – State Bank of India Commercial and International Bank Limited
- Companies eligible for shifting from Trade for Trade Settlement (TFTS) to normal Rolling Settlement – SEBI CIR/MRD/DP/14/2011
- RBI – Marginal Standing Facility – Scheme
- KYC norms and Obligation of banks under PMLA, 2002- Assessment and Monitoring of Risk – RPCD.CO.RRB.AML. BC.No.46 /03.05.33 (E) /2011-12
- Revised guidelines for e-furnishing Form 15CA
- DGFT – Corrigendum in description of export item at Sl. No 1011, Product Code-62 of the DEPB Rate Schedule
- Cabinet approves Lokpal bill; Team Anna, oppposition reject it
- CBDT to concentrate on big corporates and salaried employees to achieve target
- Service tax payable by non-scheduled operator on income received from giving the right to use the aircraft to its customers (Chartering of aircrafts), Circular is also Valid
- Service Tax – Security Services provided at residential quarters of workers is not input service
- Outward transportation of finished goods from the place of removal covered by definition of ‘input service’ upto 31.03.2008, service tax paid thereon eligible as CENVAT Credit
- In the absence of requisite mens rea to evade payment of service tax penalty can not be imposed
- Government consides new corporate governance guidelines to
- Service Tax – Section 78 permits benefit of reduction in penalty subject to assessee paying entire amount of tax determined with interest and 25% penalty within 30 days of communication of the order
- Artificially Created Light Energy (ACLE) not goods, Consequently there is no sale of goods
- CA, CS, CWA Amendment Bill passed by Lok Sabha in a hurry, without any discussion
- Government declines to disclose two letters written to PM by former Sebi member
- Amends Notification No.39/96-Customs, dated the 23rd July, 1996
- Seeks to provide provisional assessment to imports of ceramic glazed tiles other than vitrified tiles originating in or exported from China PR by M/s M/s Gaoyao Marshal Ceramics Co. Ltd China PR (producer) through M/s Foshan Dihai Trading Development Co. Ltd.-China PR (exporter)
- Companies (Amendment) Regulations, 2011 – Amendment in regulation 2
- Credit under dairy segment of Agriculture and Allied Activities-Treatment under Indirect Finance to Agriculture
- Regional Rural Banks – Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits and Ordinary Non-Resident (NRO) Accounts
- SEBI – Review of Regulatory Compliance, Periodic Reporting and Contents of Trust Deed
- Empowering MSMEs for Financial Inclusion and Growth – Issues and Strategies
- Late Fees for XBRL returns filed after 31.12.2011 to be calculated from original due date of filing
- Service Tax – CENVAT Credit can be utilized for paying Service Tax on GTA service
- Search without satisfaction of ingredients of S. 132(1) is illegal and consequently Notice action U/s. 153A of the Act is also bad in law
- Enforcement Mechanism Against Corporate Frauds
- In the absence of valid comparable data furnished by the assessee, the use of comparables comparable controlled transactions for the purposes of benchmarking controlled transactions is permissible
- MCA invites Comments/Suggestions for future XBRL Implementation
- New Look Companies Legislation to Come
- Govt clears FDI proposal in broadcast carriage services
- Cancellation of Inauguration of Direct Taxes Regional Training Institute, Bangalore
- Micro Finance Institutions (MFIs) allowed to raise ECBs
- Review of FDI
- Indian Pharmaceutical exporters facing intense competition from China, particularly in Bulk drugs sector
- Working and objects of SFIO
- Banks/FIs should take steps to identify and assess their ML/TF risk for customers- RBI
- Railways to Accept ‘Aadhaar’ as Additional Identity Proof for E-Ticketing & Tatkal Scheme
- MVAT – Amendment to Notification dated 6th October 2007-Delegation of Power to JC
- Amendment to MVAT Rules, 2005 (6th AMD)-Submission of Details of Sales and Purchases
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Dignity Foundation (Regd.), Mumbai & Rajiv Gandhi Charitable Trust, Delhi etc. notified as eligible projects or schemes
- Services rendered to Indian Insurance Company in the process of re-insurance of risk cannot be treated as ‘Fees for Technical Services’ under India-UK tax treaty
- No depreciation allowable on BSE membership card post corporatization of BSE
- Advance Ruling – Payment for support service taxable as Fees for Technical service under India-Netherlands DTAA
- Interest payable to Dassault is not taxable in India under Article 12.3(b) of the India-France Double Taxation Avoidance Convention – AAR
- CAG pulled up Income Tax Department for not recovering tax arrears worth over Rs 4,500 crore
- Regarding Service Tax Refund to exporters through the Indian Customs EDI System (ICES)
- Procedure for Cancellation of TAN
- Guidelines For Preparation Of Outcome Budget 2012-13
- Only Death Certificate of lender is not sufficient to to prove the identity of the lender, genuineness of the transaction and creditworthiness of the lender
- Salary paid to lady partner as per income tax act provisions is allowable even if she is absent at that time of survey
- Empanelment for Concurrent Audit in Central Bank of India
- Highlights / salient features of the Companies Bill, 2011
- Unlisted Public Companies (Preferential Allotment) Amendment Rules, 2011
- IRDA – Standard Instructions and Guidelines Applicable For Approval/Renewal of Agents Training Institutes
- Section 234D of the Act applicable only from the assessment year 2004-05 onwards and not for the earlier assessment years
- Tribunal justifies CIT(A) in refusing to entertain the appeal because of the insignificant amount involved in the matter
- Documents required for Service Tax Registration – CBEC
- RBI retains interest rates, indicates cut in key policy rates from now onwards
- RBI – Mid Quarter Monetary Policy Review – December 2011
- Challenges to the Accounting Profession Some Reflections
- MCA extends PAN updation date for DIN holders to 29th February, 2012
- Company Law Settlement Scheme (CLSS) extended up to 15th January, 2012
- Protocol Amending India-Australia Dtaa Signed; Updated for Effective Exchange of Information on Tax Matters
- FM Welcomes RBI’s Resolve to Check the Speculative interventions in the Foreign Exchange Market
- Anand Sharma Unveils Strategy for Doubling Exports – Target of Us $ 500 Billion by 2014
- Government has tax demand of Rs 1.96 lakh crore of which 84 per cent cannot be realised – CAG
- Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits and Ordinary Non-Resident (NRO) Accounts
- Amendment to Mortgage Guarantee Company (Reserve Bank) Guidelines, 2008
- Ministry of Corporate Affairs to Organize India Corporate and Investor Meet in February 2012
- New Manufacturing Policy to Create 100 Million Jobs in India
- Expense on aborted public issue offer allowable as revenue expenditure
- ICAI submits Pre-Budget Memorandum-2012 on Direct Taxes
- Regarding Implementation of The Pneumatic Tyres and Tubes for Automotive Vehicles (Quality Control) Order, 2009
- ICWAI Needs New Strategy – Name of Change of ICWAI to ICAI
- Portability of Health insurance from one insurance company to another insurance company
- NSDL has been appointed as CRA for NPS
- Cash assistance can not be treated as capital asset – ITAT Chennai
- Year and Bank wise details of Charges against Senior Officials in Banks
- Auditors should provide early warning signals -RBI Governor
- Fixation of new Standard Input-Output Norms for the export product “Polytetrafluoroethylene / PTFE Powder / Granular PTFE”
- RBi receives 25 Complains regarding receipt of counterfeit currency notes through ATM
- ICWAI Demands Drop “Chartered” From ICAI, Blames CAs for Black money
- RBI swung into action to check slide in rupee value against dollar
- No deduction of TDS u/s. 194-I on ‘Rent’ Without Control’ Over Asset – ITAT Mumbai
- Whether assessment can be re-opened beyond four years when all primary facts for making the claim were disclosed to the AO
- Draft Bank Branch Auditors’ Panel for 2011-12
- Companies Bill 2011- Major Highlights
- Rupee hits all time low; trading at 54.23
- HC upheld 25% addition for receipt of goods from the parties other than the persons who had issued the bills of such goods
- Tribunal may treat Appeal as un-admitted for non attendance with a right to appellant to make application for recall of order
- NRIs remitting money back home to take advantage of decrease in value of Rupee against Dollar
- ICAI Announcement for Empanelment as a Technical Reviewer with the Quality Review Board
- ICAI Indirect Taxes Committee submits Pre-Budget Memorandum, 2012
- NPA of a Company defaulting in repayment of loan can be assigned for the debt
- Anand Sharma Rules Out Freezing of the Custom Duties at the Current Levels
- Allowability of commission paid to sole selling agent
- Employees’ State Insurance Corporation Approves its Annual Report and Annual Accounts for The Year 2010-11
- Material found in the search may be a ground for notice and assessment under Section 153A of the Act but that would not efface or terminate all the consequence, which has arisen out of the regular assessment or reassessment
- International Customs Day 2012 to be celebrated on Friday, the 27th January, 2012
- Amendment to PPF & Senior Citizens Savings Scheme, 2004 – Payment of commission to the agents
- FM to inaugurate Direct Taxes Regional Training Institute, Bangalore on 18th December 2011
- Risk Management and Inter Bank Dealings – A.P. (DIR Series) Circular No. 58
- Deferment in the date of effect of one provision contained in Note-6 of Notification No. 82 of 31.10.2011 relating to export of meat
- DGFT notification on Export of empty Gelatin Capsule, to EU
- Formation of two new districts – Fazilka & Pathankot in the State of Punjab Assignment of Lead Bank responsibility
- Guidelines on Outsourcing of Activities by Intermediaries
- No proceedings can be brought against a nonexistent person either natural or artificial
- Amends Notification No. 36/2001-Customs(N.T) dated the 3rd August 2001- Notification No. 87/2011 – Customs (N. T.)
- Enforcement Directorate questiones Unitech MD Sanjay Chandra
- S. 40(a)(ia) Amendment to give extended time for TDS payment is retrospective
- SEBI (Debenture Trustees) (Second Amendment) Regulations, 2011 – Substitution of Regulation 7A
- Thing to Do Before /After Filing Return for Quick / Faster Income Tax Refund
- On submission of proof establishing identity and creditworthiness of shareholder share application money cannot be added to income
- Lack of external demand main reason for rupee’s depreciating value – Finance Minister
- Clarification on levy of service tax on distributors/sub-distributors of films & exhibitors of movie – regarding
- Download Companies Bill as introduced in Lok Sabha / parliament on 14.12.2011
- Electrical equipment industry body demands extension of service tax exemption to all power projects
- Benefit of EPF Scheme to Industrial Workers and People Covered under EPF and ESIC
- Expenses incurred by manufacturer and seller of pre-recorded audio cassettes and CDs on acquisition of intangible asset is to be treated as revenue expenditure
- Falling Rupeee Effect – Petrol prices may go up by 65 paise from Friday
- Rupee touches fresh all-time low of 53 rupees 71 paise against the dollar
- Black money – Finance Ministry decides to ask tax havens and other countries to obtain past information of banking-related transactions
- Black Money – Some in French list of having funds abroad pay Rs 135 crore in tax
- ICWAI revises Revising the rates of stipend payable to cost & Management Trainee (ICWAI appeared candidates)
- Compounding of Contraventions under FEMA, 1999 – A.P. (DIR Series) Circular No.57
- Food Inflation: This Time it’s Different*
- Ten Commandments for a Successful Banking Career
- Further Understanding of Issues Required to Sustain Growth and Create Inclusive Outcomes for the People – FM
- Gross Financial Flows, Global Imbalances, and Crises
- Guidance Manual for Audit Quality for professional Cost Accountants
- Revised format of Monthly Cumulative Report (MCR) incorporating investments in Infrastructure Debt Fund
- National Electricity Fund (Interest Subsidy) Scheme to subsidize interest rate on loans
- Finance Minister’s Inaugural Address at the International Conference on “Economic Policies for Emerging Economies”
- Interest on Interest free loan given for business purpose cannot be disallowed – ITAT Mumbai
- Municipal tax payable on rented property income and evasion of Municipal Tax may cause penalty on landlord
- Security deposited against leased property refundable on completion of tenure cannot be consider as Capital Gain
- Assessing Officer (AO) should carefully verify the statement given by the Assessee against any claim made by him
- Profit on Forfeiture of shares cannot be considered as revenue receipt
- Now Cost and Works Accountants will be known as Cost Accountants, Cost accounting body will share the same acronym – ICAI
- Rajya Sabha passes CS, CA, CWA (Amendment) Bill, 2011
- RTI – CIC has no power to direct Public Authority to furnish information – SC
- ICAI – Clarification for reckoning the “specified number of tax audit assignments” conducted under section 44AB of the Income-tax Act, 1961
- Receipt of share application monies in cash did not amount to acceptance of loan or deposit by the company
- CA body asks the government to allow losses from forex rate fluctuations to be amortised over a longer period
- Case pending in a lower court cannot be forwarded to another court till the decision taken by the lower court
- RBI is Closely Monitoring the Rupee Situation and will Do the Needful as Required,Says FM
- ICAI launches Self-Assessment Quiz for Common Proficiency Test (CPT)
- ICAI launches e-Learning Module on “Financial Analysis using MS-Excel 2010″ for students
- Entitlement of assessee of any deduction cannot depend on existence or absence of such entries in the books of accounts
- HC upheld application of gross profit ratio against the unaccounted sales for the purpose of making additions on account of undisclosed income
- If assessee have enough interest Free Fund, No interest amount can be disallowed for amount advanced to sister concerns
- Notice U/s. 148 is invalid In absence of any live link with the reasons recorded and the belief formed
- Assessment made without Service of notice within the time as stipulated in the proviso to Section 143(2) is void
- List of Suspicious Dealers who has issued false bills without delivery of goods
- Vijay Mallya meets CBEC chief to get accounts de-freezed
- Pension Under Provident Fund Schemes
- Public Provident Fund (PPF) Scheme for unorganised sector
- Central Board of Trustees, Employees’ Provident Fund recommends Interest Rate on PPF
- Section 19 of the BR Act, 1949- Investments in subsidiaries and other companies – Guidelines
- Export of 10,000 Tons of non-Basmati rice to Horn of Africa (Kenya, Somalia & Djibouti)
- Many Interim Applications in a proceeding under section 397/398 of Companies Act, 1956?
- RTI – Tribunal Member’s ACR Can Be Disclosed If In ‘Public Interest’- Delhi High Court
- Whether Tribunal is right in law in rejecting the alternative contentions of claim of deduction u/s. 11 of the Income-Tax Act,1961 as an aspect of Revenue’s appeal without adjudicating on the same on the ground of limitation
- All about taxability of Income From house property
- Download Free XBRL Software – Apex Xbrl Maker Free Edition
- How to check PAN furnished or not for filing DIN 4 from
- Expenditure can be disallowed only in the event of non-deduction of tax at source, and not in the cases involving short deduction, TDS not required to be deducted on exchange rate difference if TDS already been deducted at the time of credit of amount
- Income-tax Act Benefit u/s. 47(xiv) of the cannot be denied in case there is a delay in allotment of shares to the proprietor on conversion of a proprietary concern into a company
- Full exemption available under Section 54F of the Income-tax Act, 1961 even if the investment is made under joint name with spouse
- Sale of Software without granting right to duplicate, amounts to sale of copyrighted article and not the transfer of copyright and therefore not taxable as ‘Royalty’
- Section 194I – TDS not deductible on transmission and wheeling charges paid by power trading companies as same in not rent
- No functions, assets and risks analysis is required before AY 2002-03 for determination of profits attributable to dependent agent permanent establishment; no further attribution if dependent agent paid arm’s length commission
- TPO cannot take cognisance suo moto of any international transaction for adjustment in ALP
- Payments received by a non-resident for Value Added Services (VAS) is partly treated as ‘Royalty’ and partly as ‘Fees for Technical Services’ under India-UK tax treaty
- National Savings Certificates-IX Issued specified as class of Savings Certificates to which Government Savings Certificates Act, 1959 will apply
- Indirect tax collection rises 16.8 percent during the first eight months of the current fiscal
- Taxes paid by the employer is treated as perquisites included in the salary and cannot be consider monetary payment to employee
- Delhi HC stays CIC Order asking RBI to reveal name of defaulters
- Voluminous info received on black money, informs IT Dept
- Instructions regarding strict compliance of Rule 3(2)(ii) to (iv) of CCS (Conduct) Rules in respect of directions issued by superior officers to their subordinate officers
- ICSI Foundation Day Celebrations Vision of Professional Body Like The ICSI and its Members Should Capture Expectations of its Various Stakeholders-RPN Singh
- IFCI to raise over Rs 100 crore via tax-saving infra bonds
- RBI Board meets at Kolkata; State Govt., Banks and RBI to work together for meaningful Financial Inclusion
- I-T Dept invites fresh bids for Manesar, Pune centralised processing centres (CPCs)
- No service tax on late payment charges by stock investors if shown separately in the account statement
- 2G Scam – Kapil Sibal defends Chidambaram
- What is the difference between Power of attorney and Letter of authority
- Property belong to the HUF should be distributed between the Coparcener equally
- Tax Calculator + Form-16 for FY 2011-2012 / AY 2012-13
- Foreign investment in Pharmaceuticals sector – Amendment to the FDI Scheme
- FDI in India – Issue of equity shares under the FDI scheme allowed under the Government route
- Updating of Income Tax PAN details in MCA21 DIN DATA
- Amendment in Indian Post Office Act
- Govt Paid I-T refund of Rs 68,994 cr till Nov this year
- ICWAI President Communiqué December, 2011
- Norms of Health Insurers implementing portability of health insurance policies
- 4TH Global Conference on ‘Tax and Inequality’ Concludes
- Section 263 – Assessing Officer’s acceptance of Jurisdictional HC Law may be ‘erroneous & prejudicial’ – ITAT Mumbai
- GTL Infra admits undisclosed income of Rs 500 crore to Income Tax Dept in 2010
- Cost Accounting Records (Telecommunication Industry) Rules, 2011
- Cost Accounting Records (Sugar Industry) Rules, 2011
- Cost Accounting Records (Pharmaceutical Industry) Rules, 2011
- Cost Accounting Records (Petroleum Industry) Rules, 2011
- Cost Accounting Records (Fertilizer Industry) Rules, 2011
- Cost Accounting Records (Electricity Industry) Rules, 2011
- Committee on Procedures & Performance Audit on Public Sercies (CPPAPS) – Report No. 2 – Compensation structure for delay in payment of interest and/or principal
- Education Loan – The Mantra to Save Tax under section 80E
- Income Tax Deduction U/s. 80D for Medical Insurance
- Service Tax on Business Auxiliary Service
- Service Tax on Broadcasting (Radio and Television) Services
- Service Tax on Brand Promotion Services
- Company Law – Salient features of Early Warning System
- Penalty u/s 271C cannot be levied when the assessee misconstrued the provision of law and did not deduct tax at source
- Mother of 19 Children sentenced for for filing fraudulent Income Tax returns
- Central Excise Notification No. 29 – Export procedure under Notification No. 45/2001 to apply to only export to Bhutan
- Removal of intermediate goods without payment of duty allowed for export to Nepal – Central Excise Notification No. 28
- Procurement of excisable goods without payment of duty for use in manufacture of export of goods to Nepal allowed when payment is in Indian Rupee – Central Excise Notification No. 27
- Rebate of duty on excisable goods used in goods exported to Nepal allowed – Central Excise Notification No. 26
- Notification No.20/2004 which granted rebate to Nepal Government rescinded – Central Excise Notification No. 25
- Service tax on Renting of Immovable Property Services
- Service tax on Health Services
- Where assessee entered into agreement with its clients for development of software and agreed to give up all rights and claims of software to be developed, such contract was not for sale of any software but contract for service simplicitor
- There is no restrictions under rule 7 of Cenvat Credit Rules in limiting distribution of service tax credit made in respect of one unit solely on ground that services are used in respect of another unit
- ICWAI invites comment on Exposure Draft of Cost Accounting Standard – 14 on Pollution Control Cost (CAS – 14)
- FAQ- 4 – Companies (Cost Accounting Records) Rules, 2011 and Companies (Cost Audit Report) Rules 2011
- Hc issues notice to centre on limiting 200 SMS per day per SIM
- Tax and Inequality- A Central Concern for Effective Governance
- DTC to come into force from 1st April 2012
- Rescinds notification no. 78/2006-Customs, dated the 8th August, 2006
- PFC Tax Free Bonds -Draft Shelf Prospectus – Tax Benefit and other Highlights
- Exempts from Special Additional Duty (SAD) all goods exempted under notification no. 104/2010-Customs, dated 1st October,2010 when imported from Nepal.
- Government allows Rebate of excise duty on export of goods to Nepal under ARE-1 Procedure w.e.f. 1st March 2012 – Central Excise Notification No. 24
- IRDA- Guidelines Pertaining to Corporate Agents
- Quick Highlights Of E-Filing In F.Y. 2011-12 (Upto 30/11/2011)
- Microenterprise Development – Path to Creating MNCs of Tomorrow
- IRDA – Calling applications for Offline Agents Training Institutes
- Govt decides to increase minimum pension to Rs. 1000 per month for Workers Covered by EPFO
- Credit Channel of Monetary Transmission in India – How Effective and Long is the Lag?
- A.P. (DIR Series) Circular No.54 – Deferred Payment Protocols between Government of India and erstwhile USSR
- Identity Card to Every Adult Resident of the Country under NPR; No Card being issued by UIDAI
- Circular dt. 23rd May, 2011 , Splitting of Minimum Wages for the purpose of PE contribution not permissible – kept in abeyance
- MMRDA demands Rs. 50000/- for giving report asked under RTI
- IOC demands two year extension of tax holidays for its refineries
- Finance Ministry panel gets close to 3,300 suggestions on ways to curb the generation of Black Money
- Satyam scam – ICAI barred two Lovelock & Lewes auditors from practice for life, slaps Rs 5 lakh penalty
- Gratuity Payable only if employee put in 5 years of service – HC
- Off market transaction is not a unlawful activity and there is no relevance in seeking details of share transaction from stock exchange when the sale was not on stock exchange and relying upon it for making addition
- Small Savings to Fetch Better Returns
- Whether the assessee, a partner of the firm, is entitled to deduction u/s 48(2) while computing the long term capital gain for which the firm has already claimed deduction u/s 48(2)?
- Section 2(22)(e) – ‘Trade Advances’ are Not ‘Loans and Advances’ – Delhi High Court
- Section 153A – Assessee Entitled To Raise Fresh Claims – ITAT Mumbai
- RBI intimate banks revised PPF Limit and Interest Rate
- Govt to censor content on Facebook,Twitter, Google
- Transcore Vs UOI – A Judicial Monocracy to Anyhow Uphold Unwarranted Multiple Actions of the Banks/FIs
- What is Tax Collected at Source (TCS) and applicable rates?
- Dos and Dont’s for Depositing TDS / TCS
- What is TAN and Procedure for getting TAN
- What is TDS, Responsibilities of the Deductor and Procedure to pay TDS
- TDS defaults and Consequences (Penalties)
- Banks, hospitals and other commercial activities cannot be carried out from plots developed for residential purpose – SC
- Govt hopes to achieve indirect tax collection target of over 4 lakh crore for 2011-12
- IRS officer and CA wife on trial for ‘disproportionate assets’
- Expected Future Revolution in Income Tax
- India to Host Fourth International Tax Dialogue Conference
- CBDt not to share data received under the DTAA with Germany with any other Agency
- Service tax on Port Services by Other Ports (Minor Ports)
- Service tax on Technical Inspection and Certification Services
- Service Tax on Internet Telecommunication Services
- Service tax on Manpower Recruitment or Supply Agency’s Services
- Service tax on Internet Cafe Services
- An assessment of recent macroeconomic developments
- Farmers Support FDI in Retail Delegation of North Indian Farmers Meets Anand Sharma
- Fictitious offers of cheap funds from abroad – Awareness Campaign – Registering complaints with Cyber Crime Cell/ Economic Offences Wing
- Bhutan exempt from export ban by India on Milk Powder, Wheat, Edible Oils, Pulses & Non Basmati Rice
- Be Courteous to Public and Legislators – Government Directs Babus
- A view on deductibility of TDS on service tax and other expenses included in Bill amount
- S. 80CCD Deduction for Contribution to New Pension Scheme
- View TDS, Income Tax & SA Tax Credit in Form 26AS
- Stay of disputed income tax demands-some important points
- Clubbing of Income under the Income Tax Act, 1961
- Companies Bill, 2011 Cleared by Union Cabinet
- ITAT President has no authority to record the Annual Confidential Reports (ACRs) of the Members – HC
- Waiver of principal amount of working capital loan not a capital receipt; Amount waived off taxable as deemed business profit u/s 41(1)
- Tax On Sales-tax Subsidy – SC asks HC to decide whether sales-tax subsidy is a capital receipt
- Whether the expenditure is capital or revenue in nature cannot form the subject matter of block assessment
- Memorandum of Understanding between ICAI and University of Madras
- Prerequisites for furnishing correction TDS/TCS statement and how to know the status of TDS/TCS return submitted
- How to know Date of birth on PAN Card
- Format of Report under section 115JC of the Income-tax Act, 1961 for computing adjusted total income and minimum alternate tax of the limited liability partnership
- How to find name of person through his PAN
- All about PAN, FAQ and documents required to issue PAN to resident and foreign resident
- NSC Interest Rate Calculator
- RBI directs primary urban cooperative banks to not to process over 3-month old cheques
- CBI demand details of the tax benefits availed by Dr Reddy’s during the reign of N Chandrababu Naidu
- Govt hopeful of panel report on DTC in winter session and DTC implementation from 1st April 2011
- nion Finance Minister’s Speech at Hindustan Times Leadership Summit
- Mandatory Publication of Central Government and Public Sector Tender Enquiries on the Central Public Procurement Portal
- ICWAI sign MOU with CISI, UK
- CCI (Salary, Allowances and other terms and conditions of service of Chairperson and other Members) Amendment Rules, 2011 – Substitution of Rule 3
- ICSI – Introduction Of New Type Of Main Answer Books With Optical Mark Reader (OMR) Base Cover Page For Use Of Examinees In CS Examination, December, 2011
- The Securities and Exchange Board of India (KYC Registration Agency) Regulations, 2011
- Seeks to exempt excise duty on pile liners fabricated at the site of construction for use at the marine site
- Regarding Classification of Chloroparaffins/Chlorinated Paraffins
- Introduction of New Category of NBFCs – ‘Non Banking Financial Company-Micro Finance Institutions’ (NBFC-MFIs) – Directions
- Amends Notification No. 21/2002-Customs, dated the 1st March, 2002
- Seeks to amend Custom Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995
- Deferred Payment Protocols between Government of India and erstwhile USSR – A.P. (DIR Series) Circular No.53
- Sum received on surrender of tenancy right is capital receipt and hence, not taxable – Delhi HC
- SC asks Ketan Ketan Parikh and Co to Deposit deposit 50 percent of penalty imposed for Fema violations
- In response to Bribe demand farmers emptied three bags filled with 40 snakes in IT office
- Non-Banking Financial Company – Micro Finance Institutions (Reserve Bank) Directions, 2011
- Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 – Amendment in Paragraphs 1 and 2
- Non-Banking Financial Companies Auditor’s Report (Reserve Bank) Directions, 2008 – Amendment in Paragraph 3A
- Scope of scrutiny assessment in AIR cases under Income Tax Act 1961
- Capital Gain on Conversion of Capital Asset into Stock In Trade
- Payment to Foreign healthcare services companies for advising, recommending ,assisting in healthcare projects and for conducting education and training programmes are not royalty
- Gains arising on sale of shares of foreign company by Non Resident (NR) to NR taxable in India if the foreign co only held Indian assets – AAR
- Negligent Assessee should not be given many opportunities just because that quantum of amount involved is high
- JM Shanti Sundharam becomes Fourth Lady member of CBEC in Six member board
- To add the difference between Market Value and sale value , department has to prove that the assessee had received more than what is declared
- Tourist Visa on Arrival for Citizens of Eleven Countries
- New Pictorial Health Warning – Implementation of the Cigarettes and other Tobacco Products (Packaging and Labelling) Rules, 2008 regarding
- Govt consulted stakeholders including UPA allies before allowing FDI in retail – Montek
- ICAI President’s Message – December 2011
- India’s Foreign Trade – October, 2011
- Understanding Section 14A Impact with Case Laws
- How to get your PAN Card details updated?
- Merely because, the assessee did not furnish the report before the due date of filing of the return, that may not automatically attract the penalty
- Ups and Downs of Service Tax on Goods Transport Operators
- While processing application u/s. 12AA of the Act Commissioner should not act as an Assessing Authority
- Guidelines for reporting TDS transactions where amount paid to deductee has not exceeded the threshold limit
- Rs. 45 crore tax exemption to ICC for World Cup unjustified
- Refund cannot be adjusted against demand on disputed issues which are covered by the earlier orders of the ITAT or CIT (Appeals)
- High Court has no Power to entertain grounds not raised before tribunal
- XBRL Filing due date extended to 31.12.2011 or 60 days from due date, whichever is later
- ICAI appeals for Empanelling as a Peer Reviewer with the Peer Review Board of ICAI
- Cost Accounting Records & Cost Audit – Applicability & Compliance
- Empanelment of CA/ICWA for special audit of Service tax Assessees with Service Tax Commissionerate at Delhi
- Cost Accounting Records and Cost Audit – clarifications about coverage of certain sectors thereunder
- India receives info on around 1,500 transactions from Denmark and Finland under DTAA
- Dropping lock-in period for FDI in Cosntruction
- Growth Performance in Second Quarter of Current Fiscal not Disappointing – FM
- Guidelines on Capital Adequacy and Exposure Norms for Credit Default Swaps (CDS)
- QE-II and FII inflows into India – Is there a Connection? RBI Working Paper
- RBI decides to implement guidelines relating to introduction of CDS for Corporate Bonds w.e.f December 1, 2011
- RBI – Prudential Guidelines on Credit Default Swaps (CDS) applicable from 30.11.2011
- Financial Inclusion-Opening of Aadhaar Enabled Bank Accounts (AEBA) for implementation of EBT for routing MGNREGA wages and social security benefits
- Amends Notification No. 36/2001-Customs(N.T) dated the 3rd August 2001 vide Notification No. 85 / 2011 – Customs (N. T.)
- Seeks to amend Notification No.87/98-Customs (N.T.), dated the 9th November, 1998 thereby amending Courier Imports and Exports (Clearance) Regulations, 1998
- Appointment of Common Adjudicating Authority – Notification No. 83 / 2011 – Customs (N.T.)
- Know online status of claim under EPF (employee provident fund)
- Consequences of Filing Income Tax Return After Due Date
- Frequently Asked questions related to Employees Provident Fund
- Capital gains under Income Tax Act 1961
- Allowability of deductions on account of payments made by the assessee to the retired partners and wives of deceased partners while computing the total income
- Notification for Launch of 10-Year National Savings Certificate (IX-Issue), 2011 Issued
- CBEC invites Comments/suggestions on ‘Draft Adjudication Manual’
- Clarification on FDI Policy in Multi Brand Retail
- CBI Arrests Central Excise Inspector in Bribery Case
- Request for No Action Letter under Para 5(1) of SEBI (Informal Guidance) Scheme, 2003
- 3rd Frequently Asked Questions on Companies (Cost Accounting Records) Rules 2011 and Companies (Cost Audit Report) Rules 2011
- 57 Crore People in the Under Insurance Net
- Online Sale of Insurance Policies
- Central Para-Military Forces (CPMF) sought VAT exemption on canteen sales
- Govt issues Draft Public Procurement Bill, 2011(Dated 29th November, 2011)
- Branch Authorization Policy – Relaxation- opening of Tier 2 branches under general permission
- SEBI Circular on Annual System Audit
- Give workers permanent jobs not contracts – Govt to industry
- FII and Equity market affected by Euro crisis – Finance Minister
- Customs – Implementation of The Pneumatic Tyres and Tubes for Automotive Vehicles (Quality Control) Order 2009
- Taxpayer’s Lounge – the stall set up by Income Tax Department at India International Trade Fair 2011 – receives the First Prize in the category Government Departments
- Vacancy Circular for filing up vacant posts in various Benches of Income Tax Settlement Commission-reg.
- Life insurance companies with 10-year in business can go public: IRDA
- New companies bill retained the provision for rotation of auditors every five years
- Indexed cost of gifted assets has to be determined with reference to previous owner – Bombay HC
- Provisions of Stamp Duty & Bombay Stamp Act, 1958
- Housing firm not responsible for encroachment after delivery of possession of the plot to buyer – Supreme Court
- Daily wagers not entitled to regularisation but can claim monetary compensation for illegal retrenchment – SC
- Insurance company to pay compensation for death of youth if it fails to prove that youth was driving negligently – SC
- Agreement to refer disputes to arbitration cannot be rendered void merely because of government rule – SC
- Violations of Chartered Accountants Act
- Investors Beware! Invest Cautiously
- Maharashtra Vat – Correction of mistakes made by the dealers or miscellaneous refunds of excess payment of taxes
- In case the AO finds that practically the land has been bought by the Developer and Developer has all dominant control over the project and has developed the land at his own cost and risks, the AO should allow the deduction to the assessee u/s 80IB(10)
- Revision of Pension under PF Scheme
- CA Vijay Vaishnav and bouncers held after clash with lawyers in court
- Steps taken by the Employees’ Provident Fund Organisation to recover the outstanding amount
- MCA released XBRL Validation Tool Version 1.1.1 with enhancements
- Registration of Marriage
- RBI – Payment System Issues and Challenges
- Implementation of bar coding on export consignments of pharmaceuticals and drugs with effect from 01.10.2011- Clarification regarding export of bulk drugs
- Minimum Export Price of Onions – Notification No 86 (RE – 2010)/2009-2014
- Seizure of foreign marked gold biscuits valued at Rs. 69 Lakh by DRI, Bangalore
- Seeks to impose anti dumping duty on imports of Hot Rolled Flat Products of Stainless Steel originating in, or exported from, European Union, Korea RP, South Africa, Taiwan and USA
- Customs – Rate of exchange of conversion of each of the foreign currency with effect from 1st December, 2011
- Customs – Seeks to notify Customs (Provisional Duty Assessment) Regulations, 2011
- Custom Duty – Seeks to notify Shipping Bill (Electronic Declaration) Regulations, 2011
- Customs – Seeks to notify Bill of Entry (Electronic Declaration) Regulations, 2011
- Quarterly Report on Public Debt Management for the Quarter July -September 2011 Released
- Interest Rate on PPF increased to 8.60 percent w.e.f. 01.12.2011
- Are ‘WE, THE PEOPLE OF INDIA’ Not Entitled To Be Governed By the ‘Rule of Law’?
- Finance Minister Pranab Mukherjee’s opening remarks in Kathmandau today after signing the DTAA
- CBI arrests Thane Service Tax Supdt. accepting bribe
- Automated Form-16A for F.Y. 2011-2012 / A.Y. 2012-2013
- Increased Interest Rates and its expected impact on Asian Economies in 2012
- PPF, MIS, and other Post office Deposit Scheme to earn higher interest from 1st December, PPF limit raised to 100000
- PPF – Investment Limit increased to 1 lakh, Loan to cost 2% extra
- National Small Savings Fund (Custody and Investment) amendment Rules, 2011 – Amendment in rule 9
- Post Office Time Deposit (Second Amendment) Rules, 2011 – Amendment in Rules 7 and 8
- Post Office Savings Account Rules – Interest with effect from 1-12-2011 notified
- Post Office Recurring Deposits – Interest w.e.f. 1-12-2011 notified
- NSC – Interest with effect from 1-12-2011 notified
- Post Office (Monthly Income Account) Second Amendment Rules, 2011 – Amendment in Rules 8 and 9
- Kisan Vikas Patras – Discontinuance of sale w.e.f. 30-11-2011
- Small savings schemes – Notified rate of commission for canvassing/securing investment in
- Commission to a foreign agent without tax deduction for services outside India cannot be disallowed
- Mumbai – Fire in local market, many shops gutted
- Tax paid by the employer on behalf of the employee is perquisite and can not be included in salary for valuation of concessional accommodation
- Proof of service outside India pre-requisite for beneficial tax claim – ITAT Pune
- Transfer Pricing – Comparable rejected by TPO without giving cogent reasons must be presumed to be comparable and DR cannot argue to the contrary
- Gujrat HC decides at what stage it can be held that there had been an international transaction between taxpayer and its Associated Enterprises
- TDS – AO not having jurisdiction cannot pass the order just because assessment was getting time barred – Bombay HC
- Income of non-resident for production of television signals for broadcasting of cricket matches in India taxable as fees for technical services on gross basis
- Obligation to deduct tax not arise on payment made to foreign company unless such payment is chargeable to tax in India
- CBI have No cases against German bank account holders
- India and Nepal to Sign Revised Double Taxation Avoidance Agreement
- FDI in Retail Sector to create 10 million jobs – Anand Sharma
- Court orders FIR against Lokpal Activist Kiran Bedi
- NABARD Monitors Performance of Cooperative Banks to improve their Functioning
- Frequently Asked Questions on SEBI complaints Redress System (SCORES)
- IRDA – Guidelines on Persistency of Life Insurance Policies
- Where the Money and Risk Flows?
- Avail loan against PPF after the expiry of one year from the end of the year in which the initial subscription was made
- L&T Infra Long term Infrastructure Bond – Save tax u/s. 80CCF and earn interest at 9% p.a.
- Full and true disclosures must mean what the statute says and requires specific disclosure of each fact – Bombay HC
- Assessee to ‘keep and maintain’ information and documents in respect of international transaction entered into with AE – ITAT Mumbai
- Contract for transportation in respect of chartering a helicopter/aircrafts do not attract provisions of TDS u/s 194I
- Background Material on Cabinet Decision on The FDI in Retail
- Penalty / Fine for violation of procedural law cannot be disallowed- Bombay HC
- ICSI – Online change of Address by the Members
- Why One Shall Not Be Justified in Thinking that an Attempt is Being Made to Anyhow Upheld the Claim of the State?
- 18 Proposals of Foreign Direct Investment Amounting to 2126.20 Crore Approved
- What is the harm, if now the judiciary is trying to improve its performance by chasing injustice?
- Sub-Committee Constituted by RBI under Shri Y.H. Malegam Submits its Report regarding Micro Finance Sector
- Rejigging the Elephant Dance
- Deregulation of Savings Bank Deposit Interest Rate in Urban Co-operative Banks
- Amendment to Senior Citizens Savings Rule, 2004 (SCSS, 2004) To allow verification of Affidavits by” Notary Public” along with “Oath Commissioner” in SCSS, 2004
- Technology and Production Series-1
- Customs Manual on Self-Assessment – 2011
- Comprehensive Competition Reforms at Centre State and Sub-State Levels will be Defining Moment in India – Moily
- Cabinet clears Companies Bill 2011; to be tabled (for consideration and passage) in the ongoing Winter Session
- Govt cleares bill to increase foreign direct investment to 51% in multi-brand retail and 100% in single brand retail
- Regarding Service Tax Registration issued on the basis of Temporary Number but not been converted into PAN based Registration Number
- Income Tax department seized about Rs 70 crore in cash from contractor in Jharkhand
- Important message on due date of XBRL filing
- SBI decides to abolish pre-payment charges on home loans
- Retrospective amendment does not mean failure to disclose material facts – Bombay HC
- IDFC demands hike in income tax deduction limit u/s. 80CCF for infrastructure bonds
- CBDT’s List of Officers for promotion to the grade of CIT
- Notification on Minimum wages in CA Offices in kerala
- ESIC – Online Submission Of Return Of Contribution For The Period Ended 30.09.2011
- Clarification regarding service tax on escort charges collected by State Police from various clients under security agency’s service
- Ad hoc exemption to security agency’s services provided during 16-10-1998 to 31-3-2009 by Central Industrial Security Force
- Service Tax – Issuance of ad hoc Exemption Order No.2/2/2011, dated 8-8-11 to NGOs managing central kitchen of mid-day meal scheme sponsored by Central/State Governments, as outdoor caterers
- Ad hoc exemption to outdoor catering service provided during 10-9-2004 to 2-9-2010 by NGOs registered under any Central or State Act under centrally assisted mid-day meal scheme
- Service Tax – Trade Notice Regarding Civil Appeal on “Renting/leasing of immovable property”
- Bill of Entry not accepted as importer who had filed it did not have educational qualifications required for CHA – wholly illegal, untenable and without jurisdiction
- Companies Bill, 2011 – NCLT and NCLAT to replace Corporate Tribunals
- FM blames FII withdrawal, weak rupee for market crash
- How to get CIBIL Credit Score / Rating Online
- Exposure Draft on IRDA (Licensing of Bancassurance Agents) Regulations, 2011
- Authorization of Specified Branches of SBI to receive, with immediate effect, subscriptions under Public Provident Fund Scheme, 1968 and Senior Citizens Savings Scheme Rules, 2004
- SEBI Board discusses Tenure for conversion of warrants issued along with public/rights issues , Disclosures where Funds are shown as promoters, Review of net worth for Debenture Trustees etc.
- IRDA release Mobile application to compare insurance products and premium rates
- Sale deed contrary to Injunction is not a valid deed even though the applicant entitle to invoked Court jurisdiction under Sec 536(2) of Companies Act 1956
- Central Exicse – Amends Notification No.3/2005-Central Excise, dated the 24th February, 2005
- Exposure Draft Limited Revisions to Accounting Standard (AS) 10 Accounting for Fixed Assets
- Custom Notification on import of Opal Glassware from people’s Republic of China and UAE
- Relating to customs duty exemption to Ministry of Defence for goods imported for the use in MR-SAM project
- RRBs – Interest Rates on Non-Resident (External) Rupee (NRE) Deposits and FCNR (B) Deposits
- Collection of Account Payee Cheques – Prohibition on Crediting Proceeds to Third Party Account
- Recession in IT Companies
- RBI Monitoring the Rupee Situation and will Do the Needful as Required, Says FM
- Comprehensive Guidelines on Over the Counter (OTC) Foreign Exchange Derivatives – Foreign Currency – INR swaps
- External Commercial Borrowings (ECB) Policy modified – Parking of ECB proceeds
- CBI Files Chargesheet Against Three Accused Including An IAS Officer For Forgery & Fabrication Of Bank Records
- ICSI releases new format of the quarterly report to be submitted by the students
- ECB Policy modified – All-in-cost Ceiling enhanced
- RBI hikes Interest Rates on NRE and FCNR(B) Deposits
- Completion of online uploading of RCMC data on DGFT’s Server By EPCs / Commodity Boards/Authorities by 30.11.2011
- FAQs on e-filing of ST-3 returns – Entries of more than one challans paid in single month, Source Document, Amount Mismatch
- ‘Public sentiments no basis to deny bail’ – SC grants bail to five corporate honchos allegedly involved in 2G Scam
- DIPP moves draft Cabinet note on allowing 26% FDI by foreign airlines in the domestic carriers
- Employees can’t be forced to work under new management – Supreme Court
- Government has no proposal to lower the securities transaction tax
- Ratan Tata’s successor – Cyrus P Mistry appointed Deputy Chairman of Tata Sons
- Empanelment of Chartered Accountant Firms for Internal Audit with Central Warehousing Corporation
- Preparation of Results Framework Document for Income tax Department for F. Y. 2012-13
- Format for submitting Draft Letter of Offer under Regulation 16 (1) of SEBI (SAST) Regulations, 2011
- Deregulation of Savings Bank Deposit Interest Rate – Guidelines
- Conditions mentioned in CBEC Circular on compliance of which Accreditation is dependent cannot be said to be arbitrary or violative of fundamental rights
- While deciding penalty appeal, it is open to the Tribunal to look into the transaction to see as to whether the claim was bona fide or it was bogus and result of falsehood
- If two views were possible and the assessee claimed deduction on the basis of advice of consultants, penalty can not be imposed
- If shares held as investments than loss on the sale thereof is capital loss and not Business loss
- Intent to arbitrate can be seen from conduct of parties – SC
- Recovery to be effected in due process of law and not by use of force – SC
- Value of free issue materials – Commissioner to record a clear finding as to whether for the tubes cleared during the three relevant periods, the caps were supplied by the customers of the appellant free of cost – Supreme Court
- SC upholds cess on construction companies
- Computer based Mock Common Proficiency Test (CPT) 26th November 2011 called off
- StCBs/DCCBs – Payment of Cheques/Drafts/Pay Orders/Banker’s Cheques
- Foreign Investments in Infrastructure Debt Funds – A.P. (DIR Series) Circular No. 49
- RBI monitoring Rupee depreciation – Finance Minister
- DGFT – Removal of names of the firms from list of defaulters for failure to export of cotton
- All about Employee Pension Scheme in a brief
- Tax implications on recognised provident funds
- ST : Road constructed in a petrol pump to facilitate filling of fuel is not liable to service tax under category of ‘Commercial or industrial construction service’
- LLP – Hints for successful DSC association of Designated Partners
- Black money – Enforcement Directorate issues notices to LGT bank account holders
- Maharashtra Value Added Tax – Common Error While Uploading the e-501
- IASB and IFAC to enhance co-operation in developing private and public sector accounting standards
- I-T dept invites Suggestions for prescribing a proforma for obtaining information relating to Transfer Pricing
- Black money – I-T to get Rs. 80 crore tax as tax from 22 individuals holding accounts and stashing funds in the foreign bank
- IRDA issues Guidelines and Eligibility Criteris for Display of insurance Product on Websites
- For under Construction Flat Purchased from Builder date of allotment crucial for calculating Capital Gain and deciding Long Term or Short Term
- Powers of CIT (Appeal) to admit Additional Evidence u/s 250(4) and Rule 46A and the requirement to give A.O. an opportunity
- Government’s policy paralysis in last year has added to the cyclical slowdown – CLSA
- State Has First Charge over Secured Assets despite Overriding Provision in DRT Act and Securitisation Act
- Download Calculator for Emi, ROC Fees, NSC, KVP, Post Office R.D. Interest, TDS, Income Tax, Service Tax, VAT, Custom Duty, HRA, Home Loan, TDS on Salary, Wealth Tax, 234ABC Interest etc
- RBI notification on Frauds – Classification and Reporting by Banks
- FEMA – Mid – Sea Trans-shipment of catch by Deep Sea Fishing Vessel
- Banks would be allowed to act as sponsors to Infrastructure Debt Funds (IDF)-MFs and IDF-NBFCs
- Infrastructure Debt Funds (IDFs) – Eligibility Parameters for NBFCs as Sponsors of IDF-MFs
- Rupee touches new low of 52.15 per dollar, Sensex Falls 425 Points
- Service Tax on GTA – Assessee eligible for abatement as per Circular of DGST on tax paid without abatement and eligible for refund of excess paid with interest
- Entry Tax Act in Punjab amended-an attempt to remove defects?
- Erection commissioning or installation Service – No Service Tax on laying of Plumbing, drain laying or other installations for transport of fluids etc before 16.5.2005
- Services provided during Hindus’ marriage ceremony not exempt from service tax
- Rs. 20 crore service tax netted from Mumbai builders
- No Section 14A / Rule 8D Disallowance Without Showing How Assessee Wrong – Delhi High Court
- Download Income Tax Calculator for A.Y. 2012-13, 2011-12, 2010-2011
- Cost Inflation Indexed Cost Calculator
- Service Tax – When tax with interest is paid u/s. 73(3), no noticefor recovery of penalty under Sec. 76 to be issued
- Reopening under section 147 For Lapse Of AO Invalid – Delhi High Court
- Infosys launches XBRL filing solution to help companies file financial statements
- Inter-Ministerial Committee to Look into the Issue of Misleading Advertisements
- Court should not compel Government to make appointments to post of ITAT Member from wait-listed candidates – SC
- Get Income Tax Refund by making application under RTI Act
- When non-resident technology partner does not pass on proprietary right to assessee on transfer of knowhow, the royalty paid by the assessee under a knowhow transfer agreement is revenue expenditure
- Commission/bonus paid to the Directors of the assessee company for business expediency would not fall under section 36(1)(ii)
- ICAI asks questions on topics excluded from syllabus in question paper of Taxation, PCE Nov-2011
- If secured assets have been wrongfully transferred, an order for return of such assets can be passed by DRT
- MCA requests to Expedite Filing Of Annual Return And Balance Sheet
- SC admits plea for allowing tax exemption on the expenses incurred for heart surgery
- Empanelment for Concurrent Audit of Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited
- Listing Provides an Oppurtunity to the People of India to become Shareholders in CPSES while Government Retains Management Control – FM
- Revised Concept Paper on Taxation of Services based on Negative List
- Minimum Export Price of Onion – Notification No 85 (RE – 2010)/2009-2014
- Increase in FII debt limit in Government and Corporate debt category
- Amends Notification No. 21/2002-Customs, dated the 1st March, 2002, thereby removing the actual user condition and restricting the exemption to LCD TV panels of 20 inches and above
- SEBI – Review of limits for foreign institutional investors (FII) investments in Government Securities and Corporate Bonds
- RBI – Minutes of the October 19, 2011 Meeting of the Technical Advisory Committee on Monetary Policy
- Direct Access to Negotiated Dealing System-Order Matching (NDS-OM)
- FEMA – “Set-off” of export receivables against import payables – Liberalization of Procedure
- NEFT – Access Criteria for Regional Rural Banks (RRBs)
- Repayment of Term/Fixed Deposits in banks in respect of a/c having ‘Former or Survivor’ OR ‘Former or Survivor’
- Overseas forex trading through electronic / internet trading portals – A.P. (DIR Series) Circular No. 46
- Rescinds Notification No. 14/2007-Central Excise, dated the 1st March, 2007
- Citibank fraud – Income Tax department initiates re-assessment of investors
- Section 83A of the finance act, 1994 – power of adjudication – Assignment of specified cases to commissioner of Service Tax, Delhi
- Govt Increases Current Limit of FIIS Investments by US$ 5 Billion Each in Government Securities and Corporate Bonds
- Empanelment of CA firms with CAG from 1st January to 15th February 2012
- No Long Term Capital Gain Exemption if Asset is Converted to Stock in Trade – ITAT Delhi
- Capital gains on sale of Indian Companies shares by Mauritius Company to German Company not chargeable to tax in view of Article 13.4 of the India-Mauritius Tax Treaty
- CIC directs RBI to disclose names of top 100 loan defaulters
- For Section 80-IB ‘workers’ need not be ‘employees’ – Bombay HC
- Section 194C vs 194-I on Transportation vs. Hire Contracts – ITAT Delhi
- IT department starts investigating 782 people suspected of having stashed unaccounted wealth outside India
- ICAI president, G. Ramaswamy, IFAC board
- MCA – Establishment of ROC-cum-Official Liquidator offices
- Deduction under Section 80 HHC allowable in respect of the addition made on account of the creditors
- All about Service Tax in Brief and Download Free E-Book updated up to 25.08.2011
- Reflection in the P/L a/c towards income not determinative; Entries in books of account do not decide the nature of receipts -HC
- Tax U/s. 195 not deductible on consideration for live broadcasting
- Procedure for rectification in the case where assessee has filed ST3 return mistakenly for the future period instead of current period
- Regarding Mandatory E filing of ST3/ST3A Return by Every Assessee
- Service Tax – Procedure and documents required for Centralized registrations
- Service Tax Department to send ST-2 Certificate by Post only unless specified otherwise in ST-1
- Email Hacking is punishable under Information Technology Act, 2000
- Govt amends Export-Import Bank Act to increase credit to exporters and importers
- Mandatory use of jute in packaging foodgrains and Sugar for the Jute Year 2011-12
- PFRDA Bill 2011 – Govt allows 26 percent FDI in pension
- Government may impose stamp duty of Rs 300 per crore on transactions in commodities, stocks and other derivatives
- Financial Regulation for Growth, Equity and Stability in the Post-Crisis World
- Payment of Cheques/Drafts/Pay Orders/Banker’s Cheques by Regional Rural Banks beyond the period of three months from the date of such instrument
- FDI – Reporting of Issue / Transfer of ‘Participating Interest/Right’ in Oil Fields to a Non-Resident as an FDI Transaction
- Empowering Deposit Insurance Entities to Face Challenges posed by an Emerging Financial Landscape – Global and Indian experience
- Union Finance Minister Shri Pranab Mukherjee’s Address on the Conclusion of 150 Years Celebrations of the C&AG of India
- New TDS software will alert about Unmatched challan, Invalid PAN, Challan pending amount
- ICAI to initiated inquiry against Deloitte over alleged inflated valuation of Jagati Publications
- No injunction to indirectly coerce performance of positive covenants – Delhi HC
- ICAI to check No. of Tax Audit done by Each CA, Soon Members can view tax audit reports uploaded in their name
- Income Tax Officer Sentenced In Bribery Case
- Principles of Interpretation of Entries & Commodities in the Schedules Under The Punjab Value Added Tax Act, 2005
- Compulsory Maintenance of books of account under Income Tax
- Taxation of Income and Capital Gains from Mutual Fund Units
- TDS on salary: Employees responsibility if employer defaults
- Deduction under Section 10(13A) for House Rent allowance
- No fixed return on PPF
- CBFC denies MNS allegation that the Marathi films are being certified by non- Marathi knowing persons
- Master Circular No. 2/2011 on Cost Accounting Records and Cost Audit
- Amends Notification No. 78/2007-Customs, dated the 29th June, 2007 thereby extending the levy of anti-dumping duty on the imports of CD-Rs, originating in or exported from China PR, Hong Kong, Singapore and Chinese Taipei, for a further period of one year
- Amends Notification No. 36/2001-Customs(N.T) dated the 3rd August 2001 – Notification No. 78/2011-CUSTOMS (N. T.)
- Trade Credits for Imports into India – Review of all-in-cost ceiling
- Amends the existing baggage Rules by extending the benefit to passengers coming from Bhutan and Nepal also -Notification No. 77 /2011-Customs (N.T.)
- Interest Rates on Export Credit in Foreign Currency
- Income Tax Employees strike – I-T survey operations hit in Delhi
- Form 16,16A, 27D, 24G in Excel for AY 2011-12 & 12-13
- Regarding Customs Tariff classification of TV Tuners used with ADP machines of Harmonised Customs Tariff 8471
- Announcement-Assessment Test of the Certificate Course on International Taxation organised by the Committee on International Taxation of ICAI on Saturday 17th December, 2011
- ICSI – Campus Placement for Fresher Members and Studentsat ICS IEIRC , Kolkata
- 2G scam – quantification of loss was not part of the objectives of the CAG audit and the final figure of Rs.1.76 lakh crore was at best a ‘mathematical guess’
- IASB and FASB publish revised proposal for revenue recognition
- Exposure Draft Guidance Note on Recognition Of Revenue By Real Estate Developers
- Swiss regulator found loopholes in the banks’ dealing with the foreign political figures.
- ICAI Council Guidelines for Conversion Of CA Firms into LLPs
- Motor Vehicles Act 1988 – compensation should be adequate to restore the claimant in the position prior to the accident – SC
- FCI not covered by clause (e) of Section 3 of the companies Act and acquisition of land by it can not be said as acquisition of land for ‘company’
- Under Section 15 of the Central Sales Tax Act Tax shall not be levied at more than one stage – Delhi HC
- Draft Real Estate (Regulation & Development) Bill, 2011 and Draft Model Property Rights to Slum Dwellers Act, 2011
- Draft Model Property Rights to Slum Dwellers Act, 2011
- Income Tax Department Requirement of Advocates as Junior, Senior Standing Counsels to appear before Madras HC
- Post-Global Financial Crisis, Major Global Economies are Facing an Uphill Task in Engineering their Recovery
- ICSI – Online exemption test from compulsory computer training
- Orders Appointing Income Tax Ombudsmen in 5 cities
- Taxpayer did not constitute a Construction PE under the DTAA as the contract carried on by the Taxpayer did not exceed the threshold period provided under the DTAA
- B/F business loss , unabsorbed depreciation and loss incurred by a non-eligible unit shall not be adjusted while computing the profit eligible for relief u/s. 10A of the Income Tax Act
- Third Party Administrators (TPAs) to deduct TDS u/s. 194J while making payment to hospital, No penalty u/s. 271C for non deduction of TDS on TPAs
- Transfer of shares by initial subscribers to a MOA does not amount to a change in shareholding as per section 79 of the Income-tax Act, 1961 and therefore, benefit of brought forward loss is available
- Payment made for supply of software is not ‘royalty’ since it is copyrighted software and not copyright in the software
- Understanding Transfer Pricing With Latest Case Laws Part 2
- MVAT – Documents to be submitted with Audit Report in Form 704 for the period 01-04-2010 – 31-03-2011
- Download Master file of employee’s database
- The Maharashtra Value Added Tax (Fifth Amd.) Rules, 2011
- MVAT – Amendment to Notification No. VAT.1511/CR-57/Taxation-1 dt. 30th April 2011
- Sec. 40(b)(v)- Quantum of remuneration or the manner of computing the quantum of remuneration should be stipulated in the partnership deed
- Excise duty Refund eligible for deduction u/s. 80IB(1)
- Section 80IA(5)- Once the set off Loss & Depreciation of eligible unit prior to initial assessment year has taken place in an earlier year against the other income, the Revenue cannot rework the set off amount and bring it notionally
- Discussion Paper on Potential Reform of the SEZ Policy and Operating Framework
- Benefit of HRA on payment of House Rent
- Deduction under section 80C and tax planning
- Section 80G Deduction For Donation made
- PPF Investment to be Raised to one Lakh, KVP discontinued, Increase in interest rate of PPF, NSC, MIS, POSA
- Railway Minister Announces Fresh Measures to Prevent Misuse of Tatkal Travel Scheme
- New Notification for Movies, TV Programmes Displaying Tobacco Products Comes into Effect from 14.11.2011
- MCA Initiatives to Simplify Procedures under Companies Act,1956 & LLP Act, 2008
- Over 15000 Tax Disputes Involving Over 1.35 Lakhs Tax Proceedings Settled by Income Tax Settlement Commission
- Master Circular on Cost Accounting Records and Cost Audit
- Section 263 – CIT is empowered to modify the assessment order passed by AO in case, the order is found to be erroneous and prejudicial to the interest of revenue
- How to interpret Export of Services?
- Interest Rates on Post office Saving Account, Deposit, RD, SCSS, MIS, NSC and PPF to increase soon
- No Commission to Post Office Agents on PPF, SCSS & reduced in other Schemes
- ICAI to conduct Computer based Mock Common Proficiency Test (CPT)
- Last Date for Filing Financial Statements in XBRL Format for F.Y. 2010-11
- Bangalore Income Tax department, Central Processing Center (CPC) Helpline Number
- Customs – Regarding Location of Foreign Exchange Counters at International airport
- OECD releases a discussion draft on the definition of ‘permanent establishment’ in the OECD Model Tax Convention; CBDT invite Comments
- Convergence of Mobile Banking, Financial Inclusion and Consumer Protection-Trend
- SEBI allows Mutual Funds to participate in repo corporate debt securities
- Customs duty exemption extended to least developed countries amongst the SAARC countries
- The Search-Cum-Selection committee for the post of Director General and Chief Executive Officer (DG&CEO) in the Indian Institute of Corporate Affairs (IICA)
- Railway Minister Announces Implementation of 26 New Trains
- RRBs – Collection of Account Payee Cheques – Prohibition on Crediting Proceeds to Third Party Account
- No Proposal to Relax Ban on Sex Determination
- DGFT – Modification of ANF2A of Handbook of Procedures, Vol. I, 2009-2014 – Application form for IEC
- IRDA issues guidelines for pension products
- EPF dues from a company under liquidation has to get priority – SC
- Director can’t be held liable for all wrongs in a company – Supreme Court
- Arbitral Proceeding can be initiated even after accepting payment on the preparation of the final bill
- S&P upgrades rating of Indian Banking sector – Differ with Moody downgrade
- Amendment in Employees’ Pension Scheme, 1995 and in Employees’ Deposit Linked Insurance Scheme, 1976 for submission of E-returns
- Regulation 8(4) and (5) of Regulation 2007 of NAAC are mandatory to complied with by all Institution to implement any new course – SC
- Swiss probe 4 banks over handling of dictator cash
- No Court shall make any such order for the payment of an amount exceeding three thousand rupees or exceeding the limits of it pecuniary jurisdiction, whichever amount is less u/s. 35A of the Code of Civil Procedure, 1908
- CBEC Chairman’s Message to officers and staff
- Special Court – Transactions in Securities – Sale of Shares – Ashiwin S. Mehta & ANR. Vs. Union of India & Others- Supreme Court
- Kar Vivad Samadhan not applicable to cases where Notice issued after 31.03.1998 – SC
- LLP to file the Statement of Account and Solvency in Form 8 within a period of sixty days from the end of six months of the financial year
- Scheme of 1% interest subvention on housing loans upto Rs. 10 lakh extended up to March 31, 2012
- UCBs – KYC Norms – While opening accounts based on Aadhaar also, banks must obtain current address proof
- CBI arrests Provident Fund Commissioner in Bribery Case
- Competition Appellate Tribuna stays Rs. 630 crore penalty on DLF by CCI
- Regarding Clearance of goods from Custom Bonded warehouses utilizing duty credit scrips of SFIS, VKGUY, FMS, FPS, SHIS
- Non pecuniary damages also to be calculated in case of petition filed u/s. 166 of Motor Vehicles Act 1988 and compensation amount can exceed the claimed amount – SC
- Prevention of Money Laundering Act, 2002 (PMLA) and Rules thereunder -Reporting of CTR,STR etc to FIU-India– Reporting Format under Project FINnet
- Deduction U/s. 80IB on income declared during the survey not available if Assessee fail to prove that same is generated from/derived from the industrial undertaking
- Govt. charging more then Rs. 25 per litre as taxes on Petrol
- Receipts on account of tender form and recovery of house accommodation and furniture & fixture provided with house accommodation are of capital nature.
- Draft Code of Conduct for Chartered Accountancy Students
- Gearing up for the Competitive Impulse in the Indian Banking in its defining decade
- Export Grows 10.8% in October at US $ 19.9 Billion: Commerce Secretary
- Review of the policy on Foreign Direct Investment in pharmaceuticals sectorinsertion of a new paragraph 6.2.25 to ‘Circular 2 of 2011-Consolidated FDI Policy
- Authorizations issued by DGFT not transmitted by message exchange to Customs to be registered / operated on production of physical copy of authorization only
- Clarification on applicability of exchange rate for the purpose of calculation for composition fee
- Suggestions from the Industry and Trade Associations for Budget 2012-13 regarding changes in direct and indirect taxes
- Press release regarding Vigilance Awareness Week (31st October to 5th November, 2011) organized by CBEC
- ICWAI President Communiqué November, 2011
- Gross direct tax collection during April-October of the current fiscal was up by 20.28 percent
- Netherlands Delegation Calls on Shri R.P.N. Singh; Issues of Bilateral Interest Discussed during the Meeting
- CCI (General) Amendment Regulations, 2011 – Amendment in Regulations 2 and 21
- Deduction u/s. 80HHC allowed for interest on F.D. used to avail LC Facility if it have direct nexus with export business
- Expenditure on ‘Application Software’ is revenue – Delhi High Court
- CA attacks BSP Secretary and Builder with chopper
- Development of customized software is not works contract and hence not subject to levy of VAT under Karnataka Value Added Tax Act, 2003
- Registration Process under Punjab VAT Act, 2005 needs to be changed?
- Assessee’s AO cannot question Creditor’s Income Tax Return instead he should inquire with creditor’s AO
- Deduction u/s. 80HHE has to be worked out on the basis of adjusted book profit under Section 115JA and not on the basis of the profits computed under regular provisions of law – SC
- Ex students of St. Stephens College may form an alumnus association but may not use Name of St. Stephens
- Merely because the benefit under the notification was not claimed before the original Adjudicating Authority is no ground for denying benefit under the notification if the assessee is otherwise entitled to the same
- TDS U/s 194-J deductible on ‘Transaction charges’ paid to BSE is as it is ‘fees for technical services’
- Evolution and Development of Industrial Policy
- Press Note No. 2 (2011 Series) National Manufacturing Policy
- CBEC issues press-note regarding appointment of new Chairman-CBEC
- National Manufacturing Policy
- Exposure Draft of Indian Accounting Standard (Ind AS) 113 Fair Value Measurement
- Banks to issue demand drafts of Rs. 20,000/- and above with account payee crossing only
- Bank will not make payment of cheques/drafts/pay orders/banker’s cheques if they are presented beyond the period of three months from the date of such instrument w.e.f. 01.04.2012
- RBI liberalises FDI rules related to transfer of shares
- Satyam Scam – SC grants bail to B. Ramalinga Raju and his brother B. Rama Raju
- Gujarat government decides to simplify the VAT (Value Added Tax) registration procedure
- Replacement of parts of an existing machinery in the course of their working will be a revenue expenditure
- Assessee can set off brought forward losses even if he do not file the return of subsequent years within time required u/s.139(1)
- Altered Will Must be Signed by Testator – SC
- RBI advised banks to issue Passbooks to Savings Bank Accountholders (Individuals)
- Repayment of Term/Fixed Deposits in banks opened with operating instructions ‘Either or Survivor’ or with ‘Former or Survivor’
- ICAI’s reply to RTI application filed regarding ‘Empanelment for Centralised Allotment of Tax Audit’
- India pitching for consensus among G-20 nations on sharing of tax and banking information with retrospective effect
- Penalty for concealment of Income can not leviable for Voluntary disclosure of Income after receipt of questionnaire in the absence of any detection or information in possession of the Revenue
- Travel Without E-Ticket Printout but with Copy on Laptop, Mobile etc. is acceptable by Railways
- Two Income Tax officers suspended from service on graft charges
- Women Chartered Accountant’s Diamond Jubilee Conference at Pune
- Gross direct tax collection up by 20.28 per cent during April-October 2011
- Varun Gandhi files RTI to get info on MPs and other people having swiss bank account
- Govt likely to make it mandatory for all micro-finance institutions to be registered with RBI
- CBEC Observes Vigilance Awareness Week
- Union Finance Minister , Shri Pranab Mukherjee’s Speech at the Ninth India today Chief Minister’s Conclave
- Collection of Account Payee Cheques by co-operative credit societies- Prohibition and Relaxations on Crediting Proceeds to Third Party Account
- Interest subvention on pre-shipment and post-shipment rupee export credit is extended from April 1, 2011 to March 31, 2012
- Singapore-Spain Avoidance of Double Taxation Agreement To Come Into Force
- Exports of 68 services may get service tax refund
- Perquisites are not chargeable to tax if cost of education dose not exceed Rs.1000 per child per child under the proviso to Rule3(5) of the Income Tax Rules, 196
- Foreign investment in India by SEBI registered FIIs in other securities
- Applicability of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 in ICSI exams
- Need to Increase Trade Facilitation in Customs – FM
- MVAT – Due date for submission of refund application in form 501 for the year 2009-10 extended to 31st December 2011
- Facility of self E-updation of profile to all the dealers in Punjab is provided till 25th November, 2011
- Writ petition filed before the issued of show cause notice to the petitioner in respect of the service tax liable to be paid by it is premature and liable to be dismissed
- Penalty under Sections 76 and 78 are mutually exclusive and could not be imposed simultaneously
- Canteen services which are indispensable in relation to manufacture of the final products would fall within the ambit of input service
- Service Tax – Laying of pipeline for drinking water – Show Cause Notice Challenged – Not an indiscriminate notice without application of mind – Adjudicating Authority should decide
- Income Tax Department raid on premises of Raymond tycoon Gautam Singhania
- Sales tax deferment scheme under Tamilnadu General Sales Tax Act, 1959 – Whether the deferment is admissible from the base production volume or base sales volume?
- Disputes between PSUs and Government – No more Committee on Disputes (COD)
- Central Excise – Show Cause Notice issued within five years from the date of knowledge of the Department is valid
- Service Tax on Commercial Training or Coaching Service – In view of insertion of explanation in section 65 (105)(zzc) w.e.f 01.07.2003, Tribunal decision liable to be set aside
- Service Tax on Renting of buses to UPSRTC can be challenged by aggrieved party onlt – SC
- Section 35(1)(ii) of the Income-tax Act, 1961 – Scientific research expenditure – Approved scientific research associations/institutions – Institute of Seismological Research (ISR), Gandhinagar
- Collecting entry fee at airport on behalf of AAI amounts to taxable service – SC
- Supply of Vessels to ONGC not covered under Mining Service – SC
- Right to Service – ‘Citizens Right to Grievance Redress Bill, 2011′ – Draft Bill – Comments invited by 23rd Nov 2011
- Oil Companies hiked Petrol by Rs 1.80 a litre to offset the fall in rupee
- Kejriwal clears I-T dues of Rs 9.27 lakh under protest
- Guidelines on Commercial Real Estate (CRE)
- FEMA – Section 43 of the Foreign Contribution (Regulation) Act, 2010 – Investigation into cases under the Act – Notified authorities for investigation of offences punishable under the Act
- FEMA – Section 40 of the Foreign Contribution (Regulation) Act, 2010 – Bar on prosecution of offences under the Act – Officers authorized for according previous sanction
- Service tax on Architect’s Services
- Service tax – Airport services
- RBI issues Comprehensive Guidelines on Derivatives – Modifications
- Service tax – Air travel agent’s services
- Service tax Provisions on ‘Advertisement-Sale of Space or Time Services’
- Conference of CVOs Organized by Department of Financial Services, Ministry of Finance
- Task Force on an IT Strategy for PDS Submits Report to Finance Minister
- Advertising Agency Service- Brief, Tax Rate, Accounting code, Classification, Valuation and all other details
- ICAI-Rules and Procedures for obtaining opinion from Expert Advisory Committee
- Petrol may cost you more soon – Oil Companies Considering hike in petrol prices
- No Sales Tax on SIM cards – pre-paid and post-paid; recharge coupons; value added services – Andhra Pradesh High Court
- FEMA – Memorandum of Instructions governing money changing activities
- Relaxation in period to realise export proceeds from Export of Goods and Software
- Deferred Payment Protocols between Government of India and erstwhile USSR – A.P. (DIR Series) Circular No. 39
- TRAI extends limit to 200 sms per day
- Income Tax Officer and His Wife Sentenced In a Disproportionate Assets Case
- Grant of DEPB against free Shipping Bills converted by the Customs Authorities
- Official amendments to the Prasar Bharati (Broadcasting Corporation of India) Amendment Bill, 2010
- CBDT Issues Clarification Regarding Investigations Relating to Banking Information from Overseas
- China the Question of Necessity and Not Choices
- Income Tax Slab from Assessment year 2001-2002 to A.Y. 2012-2013
- Govt introduces new PAN form for non-residents
- Corrigendum to Circular 2 Of 2011 – Consolidated FDI Policy
- SEZ – Section 4 Of The Special Economic Zones Act, 2005 – Calica Constructions And Impex Pvt. Ltd.
- Income Tax notification Notifying Amendment in Form No. 49A and 49AA
- Changes in due dates for filing Form No. 24Q/26Q where deductor is Govt. office
- Revenue department opposed abolition of Securities Transaction Tax (STT)
- S.K.Goel Takes Over as Chairman, Central Board of Excise and Customs (CBEC)
- European Banks Still Need Rescue
- FM Inaugurates Government’s E-Payment System
- Interest Rates – Party Spoiler
- Where the assessee discloses all the facts truly, no penalty can be levied for concealment of income – Bombay HC
- Revision in Limits of Housing Loans and Repayment Period – Second Quarter Review of Monetary Policy 2011-12
- ICAI – President’s Message – November 2011
- Government Considering Raising FDI Limit in Single Brand Retail
- Instructions regarding Power of adjudication of Central Excise Officers
- Amendment in notifications specifying all Industry Rates of Duty Drawback, 2011-12
- MCA withdrawn draft of Companies (Dematerialization of Certificates) Rules, 2011
- ICAI invites comments /suggestions on Discussion paper on Tax accounting Standards released by CBDT
- Amendments in the Reward/Incentive Schemes of Chapter 3 of FTP 2009-14:- Notification of Table-8 under Appendix 37D of Handbook of Procedure Vol.1
- The Status Holders shall also be eligible for the Status Holders Incentive Scrip on exports made during 2012-2013
- DGFT permits export of 1053.625 MTs of Casein and Casein products already manufactured on or before 18.02.2011
- Amendment in chapter 2 of ITC(HS) relating to export of meat
- Amendment in Notification No. 36/2001-Customs(N.T) dated the 3rd August 2001 related to tariff value of Crude Palm Oil, RBD Palm Oil etc
- DPIN will be treated as DIN
- Exemption for export of excise verified stock of 1053. 625 MTs of casein and casein products manufactured prior to imposition of ban on export of milk products i.e. 18.02.2011
- Banks’ Exposure to Capital Market – Issue of Irrevocable Payment Commitments (IPCs) – Circular No. DBOD.Dir.BC. 43 /13.03.00/2011-12
- Young Lawyers with no privileged background – an advice?
- ICSI – Briefs of professional or other misconduct cases
- No disallowance U/s. 40(a)(ia) of expenses for short-deduction of TDS
- Saving Bank Interest Rate Deregulation – An End to ‘Lazy Banking’?
- Minimum Wages and Dearness Allowance w.e.f. 01.10.2011
- Cabinet defers decision on Companies Bill 2011
- RBI seeks Feedback on ToR for Nair Committee on Priority Sector Lending
- Important message on Annual Return Filing due date
- Download Updated Form No. 49A in Excel Format
- Draft Circular on Refunds in Service Tax ; Problems faced by exporters in availing refund of excess credit
- CBI Arrests an Assistant PF Commissioner, Enforcement Officer and a Supdt. of Central Excise in Separate Bribery Cases
- No interest levy despite short deduction of taxes if reasons are bona fide and the shortfall is nominal
- Supply of goods to offshore installations i.e. Exclusive Economic Zone (EEZ) will not be subject to sales tax, especially Central Sales Tax, since EEZ does not form part of the territory of India
- Transfers & Postings of Commissioners & Directors of Income-tax – Order No. 176 of 2011
- Government E-Payment System to be Inaugurated; will Bring Transparency; Facilitate Paperless Transaction and Reduce Overall Transaction Cost
- RBI asks NBFCs to take step to Implement Green Initiative
- KYC Guidelines – AML Standards -Prevention of Money Laundering Act, 2002 – Obligations of NBFCs – Revised Reporting Format
- Amends Notification No.68/2011-Customs(N.T.) dated the 22nd September related to changes in all Industry Rates of Duty Drawback, 2011-12
- Rate of exchange of conversion of each of the foreign currency with effect from 1st November, 2011
- Transfer Pricing – Excess Earnings Method (EEM), is appropriate method to determine arm’s length price of transaction of sale of Intangible Property and the method construes Comparable Uncontrolled Price (CUP) method
- Markup on costs incurred is not an arm’s length remuneration for sourcing support service and the taxpayer should be compensated on the basis of value of the goods sourced through it
- Right to exercise an option is a capital asset and gains arising on sale are ‘long term capital gains’ if such right is held for more than three years
- Advance Ruling on settlement amount receivable by Upaid Systems Limited from Satyam Computer Services Ltd.
- Appointment of IRS Officers as Joint Commissioners of Income-tax – ORDER NO. 175 OF 2011
- IASB proposes an amendment to the accounting for government loans in IFRS 1
- IASB clarifies accounting for costs associated with waste removal in surface mining
- Insurers get more say in motor accident tribunals – SC
- European Banks – The Repeat of History
- Transfer Pricing – No Penalty U/s. 271G for failure to respond to ‘omnibus’ notice
- Enhancement in the features provided under TAN account by NSDL
- Yes Bank raises savings deposit rate to 6%
- SEBI issues Concept Paper on Regulation of Investment Advisors
- ‘In-person’ verification (IPV) of clients by subsidiaries of stock exchanges, acting as stock brokers
- 1% interest rebate on home loans upto Rs. 15 Lakhs provided cost of house not exceed Rs. 25 Lakh
- Second Quarter Review of Monetary Policy for 2011-12 Press Statement by Dr. D. Subbarao, Governor
- Second Quarter Review of Monetary Policy 2011-12
- NCM to take up with parliamentary committee proposal to tax donations in Direct Tax Code Bill
- Request for Proposal (RFP) Appointment of reputed Chartered Accountant firms For Providing Internal Audit Services to PNB Housing Finance Ltd.
- Empanelment with RailTel Corporation of India Ltd. for Appointment of Internal Auditors
- RBI deregulated savings bank deposit interest rate with immediate effect
- RBI increases Repo, Reverse Repo and Marginal Standing Facility Rates by 25 bps under Liquidity Adjustment Facility
- RBI increases repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points to 8.50 per cent
- Monetary Policy Announcements would help in getting us back to a more Comfortable Inflation Situation soon – FM
- Implementation of bar coding on tertiary packing of consignments of pharmaceuticals and drugs for export with effect from 01.10.2011
- ICAI – Empanelment as a Technical Reviewer with the Quality Review Board
- Memorandum of Instructions governing money changing activities- Location of Forex Counters in International Airports in India
- Empanelment of CA/ICWA for Special audit of Service Tax assessees
- ‘Input Tax Credit’ Under the Punjab Value Added Tax Act, 2005
- Liability of revenue to pay interest u/s. 11BB commences from date of expiry of three months from date of receipt of application for refund not on expiry of said period from date on which order of refund is made – SC
- PAN Form 49AA for For Foreign resident/non-resident Individual, LLP, Company, Firm, AOP, BOI
- Income Tax Department set up special cell to track taxpayers who are ‘untraceable’ or have reported inadequate assets to pay back tax demands
- No lawyer, No hearing, No appeal; Court should not decide a criminal case against the accused in the absence of his counsel -SC
- What was wrong if I recorded your guilt in advance – Judge
- LLP – Reminder for filing Form 8 and Form 11
- ORDER NO. 174 OF 2011- Ad. VI.(Promotion and transfer/posting of CCITs)
- Reporting format under Regulation 11 of Securities Contracts (Regulation) (Manner of Increasing and Maintaining Public Shareholding in Recognised Stock Exchanges) Regulations, 2006
- Potato chips classifiable as processed vegetable and taxable at the rate of 4%
- India-Nepal DTAA to be expedited – FM
- Kamal Nath directs DDA to examine latest SC order on General Power of Attorney issue
- Union Finance Minister Shri Pranab Mukherjee’s Address at the National Development Council Meeting
- CBI arrests ITO and CA in Bribery Case
- Need for Better Co-Ordination Between Monetary and Fiscal Policies for Improving Overall Economic Stability and Growth – FM
- Service Tax – Revenue Department takes notice of 9 lakh entities stop filing returns
- Address delivered by the Chairman, CBEC at the valedictory function for workshop on capacity building for ‘SEVOTTAM’
- Regarding Commercial construction/infrastructure development projects of road, airports, dams, tunnels etc, – levy of service tax on various service providers engaged / associated with such construction work
- Regarding Implementation of ‘On Site Post Clearance Audit’
- Regarding levy of anti-dumping duty on MBTS in pursuance to suset Review investigation
- Conditions for issue of import licenses of Rough Marble Blocks for the balance quantity for Financial year 2011-12
- Regarding Eligibility of export product ‘Technical Textiles’ listed at FPS Product Code 33, Table-4, Appendix 37D of HBPv1
- National Savings Certificates (VIII Issue) Amendment Rules, 2011 – Amendment in rule 15A
- Kisan Vikas Patra (Amendment) Rules, 2011 – Amendment in rule 13A
- Post Office Time Deposit (Amendment) Rules, 2011 – Amendment in rule 9
- Post Office (Monthly Income Account) Amendment Rules, 2011 – Amendment in rule 9A – NOTIFICATION NO. G.S.R. 741(E)
- Post Office Recurring Deposit (Amendment) Rules, 2011 – Amendment in rules 6, 9, 9A and 11
- No Pre-payment penalty on pre-closure of housing loans from Housing Finance Companies
- Procedure for Download of Form 16A TDS Certificate
- Role of Foreign Investment Promotion Board (FIPB)
- Instructions for expeditious processing of drawback claims u/s. 74 and 75 and ‘identification of goods’ and ‘determination of use’ under Section 74 of the Customs Act,1962
- CBDT Makes Discussion Paper on Tax Accounting Standards Public
- Observance of Vigilance Awareness Week as ‘Grievance Redressal Week’
- VAT Cir – 14T of 2011 – Waiver in respect of penalty and interest imposed on the sales made by Handmade Soap manufacturers for the period of 1st April 2005 to 31st March 2010
- NHB advised housing Finance companies to charge Uniform interest (floating rate basis) for old and new customers
- Clarification on “Completion of Service” where service providers are unable to issue invoices within 14 days of completion of service
- Addition under section 68 not permissible when the advances are received by account payee cheques and interest and shares have been paid and allotted against these advances
- Govt. issues National Public Private Partnership (PPP) Policy – 2011
- Ashok Chawla takes oath as New Chairman of Competition Commission of India (CCI)
- Introduction of Credit Default Swaps for Corporate Bonds – Date for Operationalisation Changed
- Income Tax department to make names of defaulters owing over Rs 10 crore public
- Service Tax Return Filing due date extended
- SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (The Regulations)
- Exposure Draft of Amendments to Indian Accounting Standard (Ind AS) 107 Financial Instruments – Disclosures
- Exposure Draft of Amendments to Indian Accounting Standard (Ind AS) 1 Presentation of Financial Statements
- Exposure Draft of Amendments to Indian Accounting Standard (Ind AS) 101 First-Time Adoption of Indian Accounting Standards
- New Range of Central excise in Ernakulam
- Service Tax (Fifth Amendment) Rules, 2011 – Amendment in rules 4 & 7 and Form ST-3
- ICAI – All about Conversion from PCC to IPCC
- Due date for filing Service Tax Return (ST-3) may be extended to 26.12.2011
- Understanding TDS Provisions with Latest Case Laws – Part – II
- Provisions of section 194C will not apply in a case where the invoices clearly show that sales tax and excise duty were collected on the supply of materials by the vendors
- When the assessee-society acts as an intermediate between the company and the members of the society, and the fact that there is no relationship between the assessee and its members as contractor and contractee, section 194C does not get attracted and no disallowance could be made u/s 40(a)(ia)
- Tips To Spend and Invest In Festive Season
- Whether the penalty can be levied u/s 271D / 271E for the amount received and repaid in cash in the hands of the assessee company though as per the statement of the lender the amount was given to and repaid by the directors in their individual capacity
- Onus to prove under-valuation is on revenue but once revenue discharges burden of proof by producing evidence of contemporaneous imports at higher price, onus shifts to importer to establish that price indicated in invoice relied upon by him is correct – SC
- When the assessee has received Form 15I from the payee and no deduction is made on that basis, no disallowance can be made u/s 194C only for the reason that the forms were not submitted in time before the jurisdictional CIT
- Finance Minister’s Address at EEC – 2011
- Whether for the purpose of determining the applicability of section 47, the condition for wholly-owned subsidiary is to be seen on the last date of financial year and explanation 6 to section 43(1) is not applicable?
- Repatriation of income and sale proceeds of assets held abroad by NRIs who have returned to India for permanent settlement/acquired abroad through remittances under LRS – Clarification
- RBI permits opening of [FCNR(B)] account in any freely convertible currency
- RBI notifies Credit Default Swap as derivative under Reserve Bank of India Act, 1934
- Identifying Systemic Risk in Global Markets – Lessons learned from the crisis
- Whether, for computation of capital gains on land sold by NRI, the fair market value of the land is to be reckoned with rather than the full value of the consideration received
- Deduction u/s.80IB not available on Duty drawback and DEPB receipts
- SC issues notice to UP govt on granting tax exemption to Formula 1 event
- Goods Transport OPERATORS? – Update ACES
- Information furnished to I-T not come under fiduciary relationship and cannot be denied to an RTI applicant
- Companies need not maintain 2 set of book of account
- Peak Filing of Balance Sheet and Annual Return under the Companies Act, 1956
- Announcement for the Corporate Affairs Standards – The need of the hour
- Tax deduction at source on the deposits in banks in the name of the Registrar/Prothonotary and Senior Master attached to the Supreme Court/ High Court etc during the pendency of litigation of claim/compensation
- Report of Task Force on Transaction Cost in Exports
- FM to Inaugurate Economic Editors’ Conference Tomorrow
- Announcement Regarding Compliance with Paragraphs 61 and 62 of the Standard on Review Engagements (SRE) 2410
- Inclusion of Credit under Kisan Credit Card (KCC) under direct financing for Agriculture
- When assessee follows project completion method as per AS-7, it is entitled to set off receipts from sale of TDR against costs of work-in-progress and such amount taxable in the year of receipt
- Failure of the AO to consider the applicability of the provisions of book profit, renders the assessment erroneous and prejudicial to the interest of revenue
- Deduction u/s 80IA and 80HHC are to be calculated independently on the eligible profits
- SC asks retailers to pay 50% of outstanding service tax
- Penalty U/s. 271(1)(c) can not be imposed Without AO’s Finding on ‘Inaccurate Particulars’
- Person facing criminal cases cannot be considered suitable for appointment in government service – Supreme Court
- CBDT releases discussion Paper on Tax Accounting Standards (Tax Accounting for Construction Contracts and Government Grants)
- India and Philippines to Sign DTAA Soon – FM
- MCA in favour of introducing a corporate governance index
- DGFT – Import of Radioimmunoassay kits (Medical equipments containing radioactive isotopes)
- Taxation of Works Contract Services under Service Tax
- SBI to accept VAT payment from dealers filing half yearly returns in Maharashtra and to remit online to state Govt.
- DGFT simplifies Procedure for sale or transfer of imported firearms and prior permission from DGFT is dispensed with in respect of some categories
- DGFT allows import of ‘Liquid Paraffin’ as an alternate input for manufacture of certain export products in Plastic Product Group
- KYC – Letter issued by UIDAI containing details of name, address and Aadhaar number
- If assessee has not furnished the correct particulars of his income, penalty u/s 271(1)(c) can be levied on the ground that there was mensrea involved
- Assessee is entitled to deduction for society charges for the property given on rent
- Revisional power under Section 263 of the Act cannot be exercised even if there is inadequate enquiry on the part of AO
- Scrap not generated out of manufacturing activities carried out by assessee-Whether tax deductible under section 206C
- Loss of investment not allowable as business loss and for claiming an amount as bad debt conditions specified in section 36(2)(i) are required to be fulfilled
- AO based on the report of the Inspector without giving an opportunity to the assessee to explain the alleged information, is not correct
- Disallowance on the ground that the assessee has diverted interest bearing funds into tax-free income can not be made where the assessee owes ample interest free funds on the date of investment
- Interest under section 234C not leviable where the cheques were deposited in time but encashed after due dates
- Retraction of statement cannot be made even without any strong supporting evidence and mere mention of ill health not sufficient to disprove the contents of nine month old statement
- Govt committed to make RTI more effective – PM
- RBI raises per transaction limit to 3,000 USD for exporters, Paypal transaction limit too increased
- CBDT to focus on high profit-making segments of the economy to achieve tax collection target
- States to impose VAT on textiles and sugar next year onwards
- Nature of expenditure does not change due to the treatment of the same in the books of account
- Payment of statutory liabilities/miscellaneous expenses, etc made by the assessee to the C & F agency not covered u/s 194C
- HC rules on the meaning of full value when assets attached with liabilities are received by shareholders as proceeds from liquidation
- Section 40 (a) (ia) applies even in respect of amount paid and not merely payable to the contractors and therefore CIT (A) was justified in confirming disallowances under section 40 (a) (ia) as the assessee had failed to deduct tax under section 194C
- Stamp duty paid during the course of amalgamation and compensation paid to employees under VRS scheme is deductible as revenue expense
- Disallowance u/s. 14A cannot exceed exempt income, No S. 14A Disallowance in the absence of nexus between exempt Income and Interest Cost
- Assessee not eligible for deduction u/s. 80RRA if the technical services provided by the assessee are not approved by the Govt.
- Payment made by the assessee to the society as society maintenance expenses are not covered under section 194C
- Assessee not eligible for deduction u/s 80IB on the amount disallowed by AO due to delayed payment of employee’s contribution of P.F
- When assessee has given his address in the e-return and the AO has also given TDS credit on the same, AO is not right in serving notice u/s 143(2) by affixting the same on some other address
- Under project completion method entire project as a whole is to be seen and hence transfer of some flats via registration is not conclusive of the year in which the income attributable to the project is to be taxed
- Merely because the said liability is more than 5 years old does not mean that there is a cessation or remission of the liability in view of the provisions of section 41(1) of the Act
- Expenses incurred for maintenance of building structure owned by the assessee and for the safety of the employees is revenue in nature
- Eligibility for exemption under section 54B in respect of amount invested in agricultural land against gain from sale of agricultural land
- Prior scrutiny of accounts before referring them for special audit is sine qua-non and if the same has not been done the direction for special audit is bad in law and hence assessment framed becomes nullity
- Hire charges received on account of hiring of the motor-cars, office equipment, computer, furniture and fixture is business income- ITAT Mumbai
- In view of the provisions of section 112 where there are several transactions of sale and purchase of securities, the discretion to take the benefit of indexation lies with assessee
- When the disputed issue is decided by the Apex Court, the proceeding initiated u/s 263, against the deduction wrongly claimed by the assessee and allowed by the AO, cannot be said to be an invalid stating that there were two opinions available
- Expenses reimbursed to recreation clubs and staff clubs of employees are revenue in nature
- To qualify as agricultural income, it is necessary for an operation to be carried on soil
- MCA advises to file ROC return before Diwali
- MCA releases XBRL Validation Tool with enhancements
- Rate hike looms as Sept inflation stays high at 9.72%
- PM to hold meet over high inflation today
- Govt. Announces Sops / Incentives for the Textiles Industry
- Aluminium conductors (wires) used for transmission of power from one point to another, are not electrical goods –
- Difference between Tax Invoice and Retail Invoice
- Sale of immovable property only through registered deeds, Power of attorney sales not valid – SC
- Assessee is entitled to depreciation on Wind Electric Generators from the date on which it was installed and commissioned
- If AO has not applied his mind while passing the order and did not call for the required details for completing the assessment, initiation of proceedings u/s 263 in such circumstances is valid
- No addition can be made for the difference in the receipts as per TDS certificate and as per the books of account when the difference is on account of service tax
- Service Tax – Retailers Association of India vs. Union of India & Ors. (Supreme Court)
- Marketing board is not local authority within the meaning of section 10(20) prior to the amendment in section
- When the assessee successfully explains the source of share application money, the additions made u/s 68 are not sustainable
- The assessee shall be entitled to admissible business expenses from the day when the business was ready to commence and not from the date of actual commencement of the business,
- S. 50C -Fair Market Value assessed by DVO to be adopted even if its lower than stamp duty valuation
- Income from commission is business income, not income from other sources
- Supply of food and beverage, in sealed containers to international airlines leaving India, amounts to exports within the meaning of Sec 80HHC
- When assessee reverses a unilateral write back of dues payable to a vendor to its P & L account, the liability is to be treated as contingent liability
- Different business of the assessee can not be considered separately for the purpose of calculating the deductions under Section 80 HHC of the Act
- Sharing of office premises among the concerns is permissible when only one concern claims the deduction
- Receipts from activities not having direct nexus with shipping/dredging activities not exempt under tonnage tax scheme
- When the assessee did not claim the additional depreciation in the return of income, it cannot be denied merely on such basis
- Transfer Pricing – Initial burden is upon the assessee to prove the reasonableness of the method followed by the assessee-company
- Value of TDR and the value of fully constructed industrial building can not stand on equal footing – ITAT Mumbai
- Bar u/s 205 comes into force only after it is proved that TDS was deducted at source – ITAT Mumbai
- Expenses incurred on account of premature vacation of leased premises and on construction of temporary structures of leased premises are business expenditure
- When the assessee has sufficient own funds, no disallowance can be made for the interest paid on borrowed funds, for the amount given on loan as interest free
- Whether when assessee provides software services, expenses incurred on development of software are revenue ?
- CBDT not given direction for targeting anyone for political reason
- Selling and publicity expenses can be disallowed merely on the basis of statement of an auditor – ITAT Hyderabad
- Composite consideration for share transfer and non-compete cannot be split up to tax non compete separately – ITAT Mumbai
- Inclusion in the Second Schedule to the Reserve Bank of India Act, 1934 – Rabobank International (Coöperatieve Centrale Raiffeisen – Boerenleenbank B.A.)
- Processing and Settlement of Export related receipts facilitated by Online Payment Gateways – Enhancement of the value of transaction
- Exim Bank’s Line of Credit of USD 27.50 million to the Government of the Republic of Senegal – A.P. (DIR Series) Circular No. 34
- Separate non-compete receipt in addition to share transfer taxable as business income – ITAT Mumbai
- Export of goods imported under reward schemes and DEPB – Re-credit of duty
- Amends Notification No. 36/2001-Customs(N.T) dated the 3rd August 2001 vide Notification No. 73/2011 – Customs (N. T.)
- Notification No. 97 /2011 – Customs – Amends Notification No. 21/2002-Customs, dated the 1st March, 2002
- Companies eligible for shifting from Trade for Trade Settlement (TFTS) to normal Rolling Settlement – SEBI Circular No. CIR/MRD/DP/11 /2011
- Corporate guarantee provided to associated enterprises is not an international transaction
- Financial Inclusion and Banks – Issues and Perspectives
- Hindu woman entitled to equal property rights and Liabilities in the property of HUF – SC
- Whether the metal scrap or waste generated whilst repairing of worn out machineries or parts of cement manufacturing plant amounts to manufacture, and thereby, is excisable to excise duty?
- Highlights of Annual Supplement to FTP 2009-2014 (New Benefit Scheme for Exporters and changes in existing shcemes))
- Validity of Online Service Tax Return without signature
- AO cannot apply Rule 8D without recording any satisfaction as to how the assessee’s calculation of s. 14A disallowance was incorrect
- Working hours of the Articled Assistants doing CA – ICAI
- Filing of Balance Sheet and P&L Account in XBRL
- FM to raise the Issue of Exchange of Information Among the Countries Concerned to Fight Against the Menace of Blackmoney and Terror Financing
- Income Tax Department starts scrutiny of high value transactions
- Proposal to bring India Infrastructure Finance Company Ltd. under regulatory oversight of RBI approved
- Export Grows 52% in April- September 2011 at US $ 160 Billion – Commerce Secretary
- Income Tax Dept. raids Indore businessmen, detects tax evasion of Rs 21 cr
- Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Bill, 2011 approved
- IIP, inflation to decide RBI move
- RBI turns heat on banks to check bad loans
- Industrial growth slows to 4.1% in August
- Seeks to amend notifications no. 67/2006-Cus, 68/2006-Cus (both dated 30.06.2006) and 85/2011-Cus dated 06.09.2011 so as to include Afghanistan as one of the beneficiary countries under SAFTA
- Satyam fraud case – SC grants bail to Four Emplyees and one Auditor
- DGFT – Amendments in the Reward/Incentive Schemes of Chapter 3 of FTP 2009-14:- Appendix 37A, Appendix 37C and Appendix 37D of Handbook of Procedure Vol.1
- DGFT – Regional Authorities (RAs) can now allow clubbing of Advance Authorisations
- DGFT – ‘On-line’ message exchange of Duty Free Import Authorization (DFIA) between DGFT and Customs
- DGFT – Amendments in Para 3.14.2 and Para 3.15.2 of Foreign Trade Policy 2009-14
- Guidelines on IRDA (Treatment of Discontinued Linked Insurance Policies) Regulations, 2010
- Inclusion of Credit under KCC under direct financing for Agriculture
- Prudential Guidelines on Capital Adequacy and Market Discipline – New Capital Adequacy Framework (NCAF) – Revision of Rating Symbols and Definitions ofCredit Rating Agencies
- Know your Customer Norms – Letter issued by Unique Identification Authority of India (UIDAI) containing details of name, address and Aadhaar number
- XBRL eForms (Form 23AC-XBRL and Form 23ACA-XBRL) FAQs
- Steps for eFiling of XBRL documents
- Company Law Board (Amendment) Regulations, 2011 – Amendment in regulation 29
- RBI can not discontinue service of auditor on the complain of bank without fair and proper enquiry – Delhi HC
- Despite high volume & short holding period, shares gain is STCG – Bombay HC
- Company Law – Intercorporate Loans and Investments under section 372A
- Format of Limited Review Report For Companies Other Than Banks
- Declaration of Dividend out of Reserves and Transfer of Profits to Reserves Rules
- CBI registers case against excise officer
- Provisions Related to Acceptance of Deposit by Companies U/s. 58A r.w. Companies (Acceptance of Deposits) Rules, 1975
- ICAI Guidance Note on Certification of XBRL Financial Statements
- Provisions of Micro, Small and Medium Enterprises Development Act 2006 including tax provisions in respect of interest
- Vacancy in Posts of Member, Settlement Commission (Income Tax / Wealth Tax)
- Chief Justice of India Releases Restatements of Indian Law on Legislative Privilege, Contempt of Court and Public Interest Litigation
- ICAI Announces helpline numbers regarding november 2011 CA exams
- Memorandum of Instructions governing money changing activities
- Company Law Matters Requiring Sanction of Shareholders by Special Resolution
- Revised Indo-Swiss taxation treaty comes into effect
- An Overview on LTU
- ICAI issues Notification for Eligibility Test for Post Qualification Course on Information Systems Audit
- Interest subvention of 2% on rupee export credit with effect from April 1, 2011 to March 31, 2012 to Handicrafts, Handlooms, Carpet and SME sector
- Download Annual filling-XBRL-eForms
- Claim of Succession should be beyond Any Reasonable Doubt – SC
- Procedure for making application for Registration of Geographical Indications
- ICAI starts sending Admit Cards for November 2011 CA Examinations, Students can download online too
- Addition of Certified Filing Centres (CFC) under MCA 21 e-governance Project
- ICAI issues Instructions to examinees appearing in November, 2011 examinations
- Last date for receipt of the comments on Exposure Draft of Guidance Note-Cost Accounting Standards(CAS-4) has been extended upto 31st October, 2011
- 100% FDI for new pharma ventures to continue
- Registration of Companies or LLPs which have one of their objectives to do business of architect
- Process to Start Limited Liability Partnership
- XBRL Filing Manual Version 1.1 Released on 5-10-2011
- Liberalised Remittance Scheme for Resident Individuals-Revised Application cum Declaration form
- Policy for export of cotton waste including yarn waste and garneted stock [ITC (HS) Code 5202] with effect from 1st October,2011
- Proposed revised draft format of Exchange Control copy of Shipping Bills
- Know the Challan status of your tax payment on your mobile
- Tax Benefits Available to Senior Citizens
- Depreciation on leasing? An ageing puzzle
- Know Your Income Tax Refund Status Online
- Know Your PAN and TAN Application Status on SMS
- India will continue to allow 100% FDI in Greenfield Pharma
- Indian Institute of Technology Rajasthan, Jodhpur approved for purpose of section 35(1)(ii)
- Experts concerned over proposal to allow reopening of tax cases of 16 years
- Tax benefit on Premiums paid for Life insurance, Pension plans, medical insurance and taxability of sum received under life insurance policy
- How costly can the delay in filing tax returns be?
- Unexplained Investment Under Section 69 of the Income Tax Act, 1961
- Format of Decleration to be taken from Donee by Trusts for donation received towards Corpus Fund
- Keyman Insurance Policy- Income Tax Benefit
- How To Get Relief From Double Taxation?
- Government plans to allow reopening of income tax returns of past 16 years
- ICAI statement on the matter of Global Trust Bank
- E-Filing in F.Y 2011-12 – Quick Statistics (as on 30th September 2011)
- Frequency Norms of Audit for Service Tax Assessees
- Clarification on Allotment of Director’s Identification Number (DIN) Under Companies Act, 1956
- Export incentives to be announced soon – Anand Sharma
- Draft National Policy on Information Technology 2011 Released by Shri Sibal
- Direct Tax Collection for April-September 2011 up by 23 percent at Rs 257,042 crore
- List Of Industries And The Products Covered Under Section 209(1)(d) Of The Companies Act, 1956
- Will the Renminbi Eclipse the Dollar?
- CBDT Committee to examine ways to strengthen laws to curb generation of black-money in India, its illegal transfer and abroad and its recovery
- Two provident fund officials arrested for graft
- SC allows clubbing of two establishments as one for the purposes of the PF as there was unity of ownership, management, control, finance, labour and functional integrity
- Directors not vicariously liable for crime of company – Supreme Court
- Govt. cannot change purpose of acquired land – SC
- Innocent purchaser cannot be disallowed Input Tax Credit (ITC) for non payment of tax by seller-Landmark Judgement by P&H HC
- AAR – Liability to pay excise duty in respect of operations performed on battery cells for their clearance as battery bank
- Assessee can avail 80-IA deduction in respect of notional profit on account of power generation from its own captive power plant and utilised by itself – Madras HC
- Whether the different periods of the contracts are to be aggregated to reckon the threshold of 183 days under clause 5.3 of the DTAA with Singapore to determine PE?
- Observations in auditor’s report may not constitute a valid ground for rejection of books of accounts u/s. 145(3) of the Act unless the observations of the auditor have a bearing on correctness of books of accounts
- Whether the benefit of deduction under Section 10A can be extended to inter-state sales made to another industrial unit in a SEZ, payment in respect of which is received in Indian rupees?
- Register and Track your PAN Card Related Complain online and Track Status
- All you want to know about mutual Funds
- Tax Benefits / Consequences to Mutual Fund Unit holders
- Reduction of equity share capital not subject to capital gains – ITAT Mumbai
- AAR Dissents From Its Own View On Taxing Software and ruled Software is copyright; Even if ‘copyrighted article’, License fee taxable as ‘royalty’
- ICAI releases Case laws relevant for November, 2011 CA Examinations
- Download Supplimentary study Material for May 2012 and November 2012 exams of CA IPCC, PCC, Final (New Course)
- Section 275(1)(a) of the Act does not nullify the availability to the AO of the period of limitation of six months from the end of the month when the order of the ITAT is received by the Assessing Officer
- SARFAESI proceedings – rights of the Borrowers – related complications?
- Manufacturers of beer liable to pay excise duty from the stage of fermentation – SC
- CBEC notifies On-site Post Clearance Audit at the Premises of Importers and Exporters Regulations, 2011
- MCA releases Form No. 23AC-XBRL and Form No. 23ACA-XBRL for reporting in XBRL format
- Companies who need to file B/S and P/L Account in XBRL have to file form 23AC-XBRL and 23ACA-XBRL
- DTAA- Agreement for Exchange of Information with respect to taxes with British Virgin Islands
- Quartely Result of Listed Companies should disclose figures in respect of immediately preceding quarter and shall be accompanied by limited review report
- Sebi announces Uniform Know Your Client (KYC) Requirements for the Securities Markets
- RBI relaxes domestic money transfer norms for those who do not have access to formal banking channels for want of proof of identity/address
- IRDA allows Insurance Premiume payment in cash beyond Rs. 50000/- per transaction subject to the customer quoting PAN
- India – Switzerland to start exchanging information on tax-related matters from next fiscal
- Serious Fraud Investigation Officers authorized for purposes of filing and conducting prosecution under the Act – NOTIFICATION [F.NO. 5/37/2011 - CL V], DATED 23-09-2011
- MCA notifies ‘Srei Infrastructure Finance Limited’ as Public financial institution u/s. 4A of the Companies Act, 1956
- Comments invited on five draft Q&As for the IFRS for SMEs
- MCA extends time for filing DIN-4 for furnishing and to update PAN details till 15.12.2011
- MCA extends Company Law Settlement Scheme, 2011 upto 15th December, 2011
- Demand of dues after settlement amounts to extortion of money from complainant by the bank
- Supreme Court interprets choice of SIAC Rules as exclusion to the applicability of Part I of the Indian Arbitration Act
- Exposure Draft of Indian Accounting Standard (Ind AS) 19 Employee Benefits (Comments to be received by 15 November 2011)
- Exposure Draft of Amendments to Ind AS 12 Income Taxes (Comments to be received by 5 November 2011)
- Payment of Rs. 5000/- to the Ministry of Law towards expenses etc. for filing SLP or Counter Affidavit – Change of Procedure-reg.
- Calendar of Reviews for Board/Local Management Committee of foreign banks
- Seeks to impose anti-dumping duty on imports of Caustic Soda, originating in, or exported from, Korea RP – Notification No.95 /2011-Customs,
- Imposition of anti-dumping duty on imports of Caustic Soda, originating in, or exported from, Korea RP
- Regarding Mandatory E filing of ST3/ST3A Return by Every Assessee and format of letter for issue of ‘TPIN’
- Further Extension of last date for submission of financial documents for MEF 2011-12
- In case of bounced cheque the magistrate in the place where the cheque was drawn and where the drawee bank is situated has jurisdiction to deal with the complaint
- CBDT Extends Due Date of Filing Income Tax Return filing for A.Y. 2011-12 to 31-10-2011 for the assessee of Sikkim
- Auctions under ‘SARFAESI Act’ and the need of fairness?
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Unnati Yuva Jagruti Mandal, Ahmedabad & other specified institutions
- FEMA – Revised Guidelines on Appointment of Agents/Franchisees by Authorised Dealer Category-I banks, Authorised Dealer Category-II and FFMCs
- Zone-shifting of Candidates for November – 2011 CA Exams – (03-10-2011)
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – The Indian Minority & Other Communities Development Trust, West Bengal, etc.
- Inspector of Central Excise and Bank Manager Sentenced In Separate Cases
- Council of Scientific & Industrial Research (CSIR), New Delhi notified for purpose of section 35(1)(ii) of income Tax Act, 1961
- Waiver of stamp duty for Form 5- for companies registered in New Delhi
- Additional stamp duty on increase in authorized share capital not payable in accordance with Article 10 of the Schedule IA of the Indian Stamp (Delhi Amendment) Act, 2007
- For s. 2(22)(e), a firm can be treated as the ‘shareholder’ even though it is not the registered shareholder and shares are in the name of Partners
- ICAI accuses state and central governments, and PSUs of deliberately favouring CA companies having affiliations with multinational audit firms
- Person arrested for Offences under the Customs Act and Central Excise Act can not be denied bail as Offences are Non-Cognizable and bailable
- Requirement of empanelment of Senior/Junior Authorised representatives to represent the Department before the Income Tax Appellate Tribunal
- Income Tax department notices for scrutiny to two NGOs associated with Kiran Bedi
- ITAT Pune rejects set off for interest paid and received on income tax
- Activities relating to installation of pipe lines by a marine vessel are treated as ‘construction and assembly’ and results into PE if carried on for more than nine months under the India Mauritius tax-treaty
- RENTING – Supreme Court Stays High Court Order – 14.10.2011 Next Date
- How to make e-payment / Online Payment of Service Tax / Excise Duty
- How to e-File / online File Service Tax / Excise Return
- How to Register for online filing of Service Tax and Excise Returns
- E-Filing of Service tax and Excise Returns – Assessees Beware – Technical Delay Will Not Be Tolerated
- SEBI – Revisions in FII investments in corporate debt long term infra category
- SEBI – 100% promoter holding in demat form – Extension of date for complying with provisions of dematerializing promoters holding
- Late claims can not be rejected by the insurance companies mechanically -IRDA
- Exposure Draft of Indian Accounting Standard (Ind AS) 41 Agriculture (Comments to be received by 15 November 2011)
- Procedure for refund of tax deducted at source under section 195 to the person deducting tax -Amendment to Circular No.7/2007
- ICAI – President’s Message – October 2011
- Despite specific & pointed queries in section 143(3) assessment, AO cannot be said to have formed any opinion if explicit opinion not recorded
- Despite disclosure of conversion of stock into investment and acceptance by AO, claim that gains is LTCG attracts s. 271(1)(c) penalty – Delhi HC
- PMS Fees not deductible against capital gains. Despite dissenting orders, reference to Special Bench not necessary – ITAT Mumbai
- ICWAI – President Communique for October, 2011
- XBRL – Registration of Certified Filing Centres (CFC)
- Proposed Amendment of the Articles of Agreement of the International Monetary Fund on Reform of the Executive Board approved
- CAG of India Appointed External Auditor OF IAEA and WIPO
- FDI Circular 2 of 2011 – Consolidated FDI Policy
- Sebi revises bidding norms for FIIs in infra bonds
- Download Excise Duty / Service tax e-Return, eFiling Offline Utilities / Schema / Software for free
- Advances to State Co-operative Banks under Section I7 (4) (a) of the RBI Act, 1934 for general banking business
- MCA XBRL Validation Tool for validating XBRL instance documents has been released
- Amends Notification No. 36/2001-Customs(N.T) dated the 3rd August 2001 – Notification No. 71/2011-CUSTOMS (N. T.)
- Rate of exchange of conversion of each of the foreign currency with effect from 1st October, 2011
- Police arrests CA for his alleged role in Speak Asia Scam
- Non Taxable Services – Proposed Negative List
- Procedure for electronic filing of Central Excise and Service Tax returns and for electronic payment of excise duty and service tax
- ICAI accuses multinational CA Companies of violation of rules
- Indo-Nepal Remittance System – Measures to enhance usage
- SEBI – Filing Offer Documents with SEBI under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009
- Govt considering seven-eight new categories for AIRs
- Whether the clients liable to tax in India on the capital gains and if yes, whether the bank is required to deduct tax at source on the remittance?
- No penalty u/s 271B, If the audit report is obtained within the due date, but return is filed after the due date
- Payment made under Franchise & Management Agreement for availing technical know-how, coupled with technical consultancy services, for setting-up new and distinct business could be considered as capital expenditure
- Inter-corporate deposits written off in the books allowable as business expenditure where the incomes from such deposits were taxed as business income in earlier years
- How to resolve Inconsistencies in TDS/TCS Statements through Correction Statements
- SEBI Guidelines for Issue and Listing of Structured Products/ Market Linked Debentures
- KYC Norms – Letter issued by UIDAI containing details of name, address and Aadhaar number
- CBEC assigns Adjudicating Authority for another DRI SCN
- PAN card Verification procedure and who can avail the facility of verification
- Extension of ban on export of edible oils up to 30.09.2012 and exemption for export of edible oil in branded consumer packs with a ceiling of 10,000 tons from 01.11.2011 to 31.10.2012
- Indian Economy – Progress and Prospects
- Deduction on children’s education u/s. 80C & 80E
- Use of section 144A of the Income Tax Act 1961
- Survey under section 133A of income tax act 1961
- SEBI – Disclosure of Price Information of past issues handled by Merchant Bankers
- SEBI – Contents of Application-Cum-Bidding Form and Manner of disclosure
- RBI issues Draft Revised Guidelines on Securitisation Transactions
- Monetary Policy Dilemmas – Some RBI Perspectives
- Attempt to defraud using fake bank guarantee-modus operandi
- External Commercial Borrowings (ECB) in Renminbi (RMB)
- Applicability of service tax on taxable services provided by a non-resident or a person located outside India to a recipient in India
- IRCS to Get benefits under Income Tax Act
- Deloitte sued for $7.6 billion, accused of missing fraud
- How to Apply and ‘Get Certified Copies’ of Documents from ROC
- Leave Salary encashment Exemption, Calculation, Download calculator
- Most Popular Exempt Allowances for Salaried Employees
- Taxability of Leave Travel Allowance (LTA)
- Notified bonds or debentures of public sector companies – Income Tax notification no. 52/2011
- Dos and Dont’s for printing and submitting of ITR-Vs to ITD-CPC Bangalore (A.Y. 2011-12)
- SEBI releases Concept Paper on Regulation of Investment Advisors
- Regarding Adjudication of appraising related Show Cause Notices -Circular No. 44/2011- Customs,
- External Commercial Borrowings (ECB) from the foreign equity holders
- External Commercial Borrowings (ECB) Policy – Structured Obligations for infrastructure sector
- Indian Railways introduced new mode of ticket verification
- Removal of Ban on export of Onion – Circular No. 43 /2011-Customs,
- Registrar shall not keep any document pending for approval and registration or for taking on record or for rejection or otherwise for more than sixty days
- Internet Banking for Customers of Urban Co-operative Banks
- Fraudulent payments in the Accounts of EPFO through fake cheques‑ precautionary measure to avoid fraudulent payment
- MCA – Revision in Form No. 5 with effect from the 25th September, 2011
- Interest received on income tax refund can be set-off against the interest paid on delayed payment of income tax – ITAT Mumbai
- Limitation period does not apply to withholding tax proceedings – Calcutta HC
- Liability of Dividend Distribution Tax does not depend upon eventual taxability of dividend income – ITAT Mumbai
- AAR rules that an application by the payee is not maintainable if the same issue is pending before the tax or appellate authorities in case of the payer
- SC refers Appeal by Ram Jethmalani against purported inaction of Government to arrange for recovery of large sums of money deposited by Indian citizens in foreign banks to Hon’ble the Chief Justice of India
- AAR rules that application not maintainable if assessment/ reassessment proceedings pending before the income tax authorities
- Summary of recent Rationalisation and Liberalization in External Commercial Borrowing (ECB) Policy
- Download book covering direct and indirect tax, accounting standards, LLP, Companies Act, Partnership Act in brief
- Filing of e-return by Legal Heir (LH) using DSC – Revised Process
- Service Tax on Goods Transport Agency – Pay peanuts worry extra
- Understanding Deemed Dividend with Latest Case Laws
- Service Tax – Renting of Immovable Property Service- HOME SOLUTIONS RETAILS (INDIA) LTD Vs UNION OF INDIA & ORS – Delhi HC
- How to e-file Service tax Return in ACES?
- How to Pay MCA 21 Fees / ROC fees Via NEFT (Updated)
- Transfer Pricing – Benchmark cannot be applied on a global basis but has to be on a transaction basis ; Tribual explains Important Principles of Cost Plus, CUP and TNMM
- Company can follow cash accounting system for tax purposes even though section 209(3) of Companies Act mandates accrual system
- Transfer Pricing – Important Law On ‘Comparable Uncontrolled Transaction’ Explained
- Intervention by Dr. D. Subbarao, Governor, Reserve Bank of India at IMF Meeting on September 23, 2011
- IRDA guidelines on Health Insurance Portability – Portability to commence from 1-10-2011
- Broad parameters for banks and NBFCs to set up Infrastructure Debt Funds (IDFs)
- S. 2(15) charitable purpose where ICAI was alleged for indulging in “Commerce” for its coaching classes – HC rejected that same do not amounts to “business”
- SEBI (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2011
- SEBI (Substantial Acquisition of shares and Takeovers) Regulations, 2011
- External Commercial Borrowings (ECB) Guidelines – Rationalisation and Liberalisation
- External Commercial Borrowings (ECB) – Bridge Finance for Infrastructure Sector
- Section 620A of the Companies Act, 1956 – Nidhis/Mutual Benefit Societies – Power to modify Act, in relation to nidhis, etc. – Amendment in Notification No. G.S.R. 978(E), dated 28-5-1963
- FEMA – External Commercial Borrowings (ECB) for the Infrastructure Sector– Liberalisation
- Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and consequential amendments to Clause 35 of the Equity Listing Agreement
- SC Decision on Fate of Arbitration Clause in unregistered Agreement with improper stamp duty
- Need of correcting our ‘Indian Legal System’?
- Delhi HC – Service Tax on Renting of Property Valid ; Endorses views of HCs of P&H, Orissa,Gauhati, Bombay, Gujarat
- 13-member South African Indian family in tax fraud scandal
- G24 Intervention of Finance Minister after taking over the Chair
- Export of non-Basmati rice by the Public Sector Undertakings and Government organizations under Food Aid Programme and Under bi-lateral Trade Agreement between Government of India and Government of Maldives
- Anand Sharma Pushes for Free Movement of Professionals between India-US
- Intervention of FM at the G20 Finance Ministers’ and Central Bank Governors’ Dinner Meeting
- BRICS Finance Ministers’ Joint Communiqué Issued at the end of Meeting in Washington
- Text of the Address of Union Finance Minister’s Address to BRICS
- Income Tax Return – Who can verify and sign?
- FEMA – Summary of Recent Amendments in Forex Facilities for Individuals
- E-filing of Central Excise Returns (ER-1,2,3,4,5,6,7 & 8) made mandatory for All Assessees wef 01.10.2011
- CBEC notifies All Industry Rates of Duty Drawback for all items, including DEPB items
- Know Status of Quarterly TDS/TCS Statement by SMS
- CBEC – Filing of appeal in the wrong forum in matters relating to valuation of determination of rate of duty
- Security Issues and Risk mitigation measures related to Card Present (CP) transactions
- Global and Indian Perspective on Need for Consumer Protection – Role of Ombudsmen
- Anand Sharma Pushes for Making India HUB for Manufacturing Advanced Electronics Components
- FM’s Address ‘India’s Continuing Growth Story’ at the India Investment Forum
- FMs Speech at USIBC-FICCI Round Table Meeting in New York
- Corporate Affairs Minister Invites Suggestions for Effective and Beneficial Competion Policy
- All Industry Rates of Duty Drawback, 2011-12
- Amends Customs, Central Excise Duties and Service Tax Drawback Rules, 1995
- Determines the rates of drawback in supersession of the notification No. 84/2010-Customs (N.T.), dated the 17th September, 2010
- RBI – Returns to be submitted by NBFCs – Revised Formats
- Export of 5,175 MTs of raw sugar to USA under Tariff Rate Quota
- Seeks to specify “resident public limited company” – Notification No. 67 /2011-Cus (N.T.)
- Provision for Expenses – Allowable expenditure – Comments Invited
- CBI Arrests Superintendent of Central Excise in Bribery Cases
- S S Rana to look after all investigations related to cases of tax evasion and search-and-seizure operations by the I-T Department
- Dishonour of electronic funds transfer for insufficiency of funds in the bank account – clarification
- Service Tax – Audit of the accounts of BSNL– Issue of eligibility or otherwise of Notification No.03/1994
- India signs double taxation avoidance agreement (DTAA) with Estonia
- DRP’s power to ‘enhance’ confined to issues raised in draft assessment order. ‘Future losses’ allowable as deduction
- Govt may soon credit you service tax refund in you bank account automatically
- ICAI Invites Suggestions for Pre-Budget Memorandum-2012
- 2nd Round of Consultations on te Revised Version of National Competition Policy Begins Tomorrow
- Cyber Attacks Far More Dangerous Says Sibal
- IRDA – Clarifications on Guidelines on Outsourcing of Activities by Insurance Companies
- Amends Notification No. 133/2008-Customs, dated the 12th December, 2008
- Seeks to continue anti-dumping duty on Rubber Chemical PX-13 (6PPD), originating in, or exported from, Korea RP
- Seeks to impose anti dumping duty on Morpholine, originating in, or exported from, China PR, European Union and the United States of America, for a period of six months
- IRDA – Creation of Indian specific ACORD standards for the Indian Insurance Market
- RBI – Access criteria for payment systems
- Online filing of excise duty, service tax returns mandatory from 1st October 2011
- Modification of Guidelines for Individual Agents for Persistency of Life Insurance Policies
- IRDA – Modification of Guidelines pertaining to Individual Agents
- General circular no. 63/2011 dated 06.09.2011 related to Compliance of the provisions of Companies Act, 1956 and Rules made thereunder effective from 25th September, 2011
- Terms of Reference of Task Force for Direct Transfer of Subsidies Expanded to Include an Aadhaar-Enabled Unified Payment Infrastructure
- Govt. allows export of all varieties of onions
- Interest and Inflation to Spoil Festive Mood
- TDS deductible on compensation paid for acquisition of immovable property at the time of payment
- Income derived from repair and maintenance not eligible for Sec 80IB benefits – ITAT Kolkatta
- Penalty u/s 271(1)(c) can be imposed when the annual rent in the Lease Agreement found to be suppressed – Delhi HC
- Assessee entitled to claim deduction for the amount of interest offered on NPA account which is not realized –
- Proceeding u/s 263 initiated on the basis of existing circular which conflicts with views of High Courts or Supreme Court not sustainable
- ICAI – Frequently Asked Questions (FAQs) on ‘Exemption in a Paper/s’ of CA Exams
- Announcement – Application for CPT (paper-pencil mode) December-2011 Exam
- CPC Bangalore – IT return, Refund , Rectification statistics for AY 2009-10, AY 2010-11 and 2011-12
- International companies answerable to Indian consumer courts for service deficiency – Supreme Court
- Taxation of earning from lottery, prizes in game shows, crossword competitions or races
- Section 144C of the Income-tax Act, 1961 – Reference to Dispute Resolution Panel (DRP) – Reconstitution of DRP-I, Mumbai – ORDER NO. 8/FT&TR/2011
- Amends Notification No. 17/2004-Service Tax, dated the 10th September, 2004
- Amends Notification No. 18/2002-Service Tax, dated 16th December, 2002
- A.P. (DIR Series) Circular No. 24 – Financial Action Task Force (FATF) Statement identifying a list of jurisdictions which have strategic AML/CFT deficiencies
- A.P. (DIR Series) Circular No.23 -List of jurisdictions which have strategic AML/CFT deficiencies.
- A.P. (DIR Series) Circular No. 22 – Risks arising from the deficiencies in AML/CFT regime of Iran and Democratic People’s Republic of Korea
- A.P. (DIR Series) Circular No. 21 – Risks arising from the deficiencies in AML/CFT regime of Iran and Democratic People’s Republic of Korea (DPRK)
- FM to Leave for Five Day US Visit on 21st September to attend Annual fund Bank, G-20, G-24, Brics and IMFC meetings
- Filing of applications for DEPB for exports of “Cotton Yarn including Melange Yarn” made from 01.4.2011 to 04.8.2011 and “Cotton from 01.10.2010 to 04.08.2011
- Seeks to amend Notification No. 96/2008-Customs dated 13th August 2008, to provide deeper concessions under DFTP scheme for Least Developed Countries (LDCs)
- Understanding applicability of VAT or CST on inter-state works contracts
- If directors admitted that installed capacity has not enhanced, then same cannot be contradicted by a report of the CA to claim additional depreciation
- For Computing deduction u/s. 10A up-linking charges out of telecommunication expenses to be deducted from both export turnover and the total turnover
- For claiming deduction U/s. 80IA(4), twin conditions that is investment in eligible project and execution of the project by itself, are required to be satisfied
- Retraction of statement made during the survey after six months merely an afterthought – ITAT Mumbai
- The word ‘may’ used in the sub-sec. (2) to sec. 50C do not give discretion to the A.O. to refer or not to refer the matter to the DVO
- Non-compete Fees Paid pursuance to non-compete agreement not allowable as revenue expensiture – ITAT Delhi
- Tribunal can issue direction beyond the scope of the appeal for correction of error – Delhi HC
- Government decides not to proceed for the time being with further public offer of 5% paid-up equity shares of ONGC through an offer for Sale
- India Convenes meeting of BRICS Finance Ministers in Washington DC on September 22, 2011
- MoU signed between IIFCL, LIC and IDFC with Respeect to Take Out Finance Scheme
- Rural Infrastructure Development fund(IRDF) Finalised with Dedicated allocation of Rs. 2000 crore – Finance Minister
- For loan taken in violation of section 269SS penalty can not be imposed if same was taken to meet business needs
- Certificate issued by a CA has no decisive impact on taxability of income in the hands of a non-resident
- Claim of bad debts allowable even if debts are of the same year – ITAT Mumbai
- E-filing of Service Tax Return and E-payment of Service Tax – Latest Provisions
- TDS / TCS Default Us. 201(1) – Mismatch U/s. 200A – Nature & Remedies
- Now pay advance tax of VAT in Punjab ; Is it justified?
- Transfer pricing provisions would be applicable to a transaction entered with an unrelated entity which is deemed associated enterprise
- Schedule of all Industry Rates of Duty Drawback (2011-12) to be Notified Soon
- View Tax Credit Form 26AS from net banking a/c
- Payment of statutory dues, salary and wages in 10 sick / loss making CPSEs under the Department of Heavy Industry
- RBI Mid-Quarter Monetary Policy Review – September 2011
- Fema – Meeting of Medical expenses of NRIs close relatives by Resident Individuals
- Customs Duty Exemption extended to goods imported for internal security operations and coastal security operations
- FEMA – Repayment of loans of Non-resident close relatives by residents
- FEMA – Loans in Rupees by resident individuals to NRI close relatives
- FEMA – Gift in Rupees by Resident Individuals to NRI close relatives
- Enhancements introduced in LLP system, with effect from 15- September-2011
- Limited Liability Partnership (Second Amendment) Rules, 2011 – Notification for making the form 8 into STP mode
- Regarding Mandatory e-filing of Central Excise Returns in ACES
- Amends Central Excise Rules, 2002 (Fourth Amendment) thereby making e-filing of Central Excise returns mandatory in ACES
- Exposure Draft of Indian Accounting Standard (Ind AS) 28 (as amended) (Corresponding to IAS 28 (As amended in 2011) Investments in Associates and Joint Ventures
- Exposure Draft of Indian Accounting Standard (Ind AS) 112 (Corresponding to IFRS 12 Disclosure of Interests in Other Entities
- Exposure Draft of Indian Accounting Standard (Ind AS) 111 (Corresponding to IFRS 11 Joint Arrangements)
- Exposure Draft of Indian Accounting Standard (Ind AS) 27 (as amended) (Corresponding to IAS 27 (As amended in 2011) Separate Financial Statements
- Exposure Draft of Indian Accounting Standard (Ind AS) 110 (Corresponding to IFRS 10 Consolidated Financial Statements
- RBI releases Handbook of Statistics on the Indian Economy 2010-11
- Change in Exchange rate of Swiss Franc w.e.f. 16th Sept, 2011 – Amends Notification No. 62/2011 – customs (NT) dated 26-08-2011
- Tariff Values of Edible Oils, Brass Scrap (All grades) and Poppy Seeds Notified – Notification No. 65/2011 – Customs (N. T.)
- Credit of sale proceeds of Foreign Direct Investments in India to NRE/FCNR (B) accounts – Clarification
- RBI increases Repo and Reverse Repo and Marginal Standing Facility Rates by 0.25 percent w.e.f. 16.09.2011
- Review/Recall Petition To Be Filed Even If Tax Effect Less Than Rs. 4 Lakhs – CBDT
- Standing Liquidity Facilities for Banks and Primary Dealers would be available at the revised repo rate, i.e., at 8.25 per cent with effect from September 16, 2011
- FEMA – Resident Indian can open NRE / FCNR (B) account with their Resident close relative
- FEMA – RBI increased the limit for Transfer of security by way of gift in calendar year to USD 50,000
- FEMA – Non-Resident Indian /PIOs permitted to open NRE / FCNR (B) account with their resident close relative
- FEMA – RBI permits individuals resident in India to include non-resident close relative(s) as a joint holder(s) in their resident bank accounts
- CS Exams December,2011-List of examination Centres
- FM Hopes Increase of 25 Basis Points in Policy REPO Rate would Help Us in Getting Back to a More Comfortable Inflation Situation
- Regarding mandatory e-filing of Central Excise returns in ACES thereby amending CENVAT Credit Rules, 2004 (Fourth Amendment)
- PAN Form – Who can Verify and Sign?
- S. 271(1)(c) penalty for concealment on CA despite disclosure, legal opinion, favourable CIT(A) order, Appeal in HC as in Tribunal’s view issue not debatable
- Mangalore University, Mangalore notified for purpose of section 35(1)(iii) – NOTIFICATION NO. 51/2011
- CBDT may recommend VDIS scheme to bring back black money outside India
- e- TDS return – How to make correction or Revision in TDS Payment challan Details?
- How to make correction or Revision in Salary Details of e- TDS return already filed?
- TDS deductor may soon be able to view PAN-wise ledger and different views available for Tax Payers on NSDL-TIN website
- Why to furnish Correction / Revised TDS/TCS statement & Procedure
- Check TDS/TCS tax credit in form 26AS & reason for mismatch
- Custom Notification on Export of Non-Basmati Rice, Wheat and Onions
- Proof of Marriage must while claiming Restitution – SC
- Excise Duty – Govt exempts Sugar syrup or cream used within for manufacture of Biscuits
- Guidelines / Criteria For Income tax Scrutiny for Financial Year 2010-11 / Assessment Year 2011-12
- e-TDS Return – Preparation of Correction Statement More than Once on the Same Regular Statement (Correction on Correction)
- All about Preparation of e-TDS/TCS Return
- Who is required to file e-TDS/TCS return and what is annual e-TDS/TCS Return and Other FAQ
- How to Verify correctness of e-TDS/TCS return Prepared and FAQs on File Validation Utility (FVU)
- How should Form No. 24Q be filled up in absence of a column for section 80C and other FAQ
- TDS/TCS return – Where to File, Basic Details, Charges, Due Dates, Procedure, Forms
- Procedure for filing e-TDS/TCS Returns with Insufficient Deductee PAN
- JMM bribery Case – Section 158BB, addition can be made in the course of a block assessment on the basis of evidence found in the course of search and not on the basis of confirmation of a prior knowledge by way of search
- Transfer Pricing – Integral tests for a Cost Contribution Arrangement to be considered at arm’s length
- CBI Arrests Superintendent of Service Tax Commissionerate in Bribery Cases
- ICSI – Clarification on applicability of Schedule VI of Companies Act, 1956 for December 2011 Examination
- Securities Scam – Custodian releases Rs 650 Cr to Financial Institutions and Income Tax Department
- Dealing Effectively with Interrelated Issues of Global Imbalances, Financial Regulations , and the International Monetary System Central to Agenda of G – 20 – FM
- Income Tax – Notified long-term infrastructure bond U/s. 80CCF
- ITAT Collegium transfers 12 Members at All India level (Sept 2011)
- Amends Notification No.16/2011-Central Excise (N.T), dated the 18th July, 2011
- Exempts service by an arbitral tribunal – Notification No. 45/2011 – Service Tax
- RBI releases September 2011 Issue of RBI Bulletin
- ICAI – Appointment of Shri Manoj Kumar, Jt. Secy, MCA as member on Committees/Boards of the Institute
- Selection of a comparable company should be determined having regard to its functional comparability for the year under review and not with reference to preceding years
- Transfer Pricing – TPO should provide reasons for rejecting the Most Appropriate Method [MAM] used by the assessee before adopting a different MAM
- Losses adjusted in the books under corporate reorganization are available for set off in computing book profit under MAT provisions
- Amendment in Section 40(a)(ia) of Income Tax Act is not retrospective
- FII Investment in Long-Term Corporate Debt in Infrastructure Sector Liberalized
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Mangal Jeevan Trust, Ahmedabad – NOTIFICATION NO.103/2011
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Shantilal Shanghvi Foundation, Mumbai – NOTIFICATION NO.102/2011
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Friendship Foundation Trust, Gujarat – NOTIFICATION NO.101/2011
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Bharti Foundation, New Delhi – Amendment in Notification No.S.O.466(E) dated 29-3-2007 – NOTIFICATION NO.100/2011
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Sundaram Medical Foundation, Tamil Nadu – NOTIFICATION NO.99/2011
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes -Blind Welfare Council, Gujarat – NOTIFICATION NO.98/2011
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Cancer Institute (WIA) Trust, Chennai – Amendment in Notification No.S.O.96(E) dated 11-2-1999 – NOTIFICATION NO.97/2011
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Jamia Islamia Ishaatul Uloom, Maharashtra – Amendment in Notification No.S.O. 2370(E) dated 3-10-2008 – NOTIFICATION NO.96/2011
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes -Siva Sakhti Sathya Sai Charitable Trust, Chennai – NOTIFICATION NO.95/2011
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Kailash Charitable Trust, Noida – NOTIFICATION NO.94/2011
- Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Bangalore Hospice Trust, Bangalore – Amendment in Notification No.S.O.180(E) dated 10-3-1997 – NOTIFICATION NO.93/2011
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Indian Red Cross Society, Ahmedabad – NOTIFICATION NO.92/2011
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Impact India Foundation, Mumbai – NOTIFICATION NO.91/2011
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Maria Seva Sangha, Bangalore -Amendment in Notification No.S.O.469(E) dated 2-7-1996 – NOTIFICATION NO.90/2011
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Mata Amritanandamayi Math, Kerala – NOTIFICATION NO.89/2011
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Leprosy Mission Trust India, New Delhi – NOTIFICATION NO.88/2011
- Regarding Voluntary payment of custom duty before final assessment
- Service tax Exemption to Service provided by a Sub-Broker to a Stock-Broker In Relation To Sale or Purchase of Listed Securities
- Debenture Trustees – Frequently Asked Questions (FAQs)
- New Competition Policy will be the Second Biggest Reform Initiative – Dr. M. Veerappa Moily
- Provisions Related to Corporate Governance
- Securities And Exchange Board Of India (Buy Back Of Securities) Regulations, 1998 (As updated as on 31st March 2008)
- Policy for export of cotton with effect from 1st October,2011
- RBI releases Report of Expert Committee on Licensing of New Urban Co-operative Banks (UCBs)
- Redressal of investor grievances against Depository Participants (DPs) in SEBI Complaints Redress System (SCORES)
- RBI Guidelines for Rehabilitation of Sick SME Units
- Regarding rate of exchange for calculation of anti-dumping duty on Para nitroaniline
- Launch of AEO Programme
- Amends Notification No. 20/2006-Customs, dated the 1st March, 2006 vide Notification No. 87/2011-Customs
- Section 35AC, r.w. Explanation (B) Of The Income-Tax Act, 1961 – Eligible Projects Or Schemes – Venu Charitable Society, New Delhi
- Section 35AC r. w. Explanation (B) Of Income-Tax Act, 1961 – Eligible Projects or Schemes – Iskcon Food Relief Foundation, Mumbai
- Section 35AC, r.w. Explanation (B) Of Income-Tax Act, 1961 – Eligible Projects Or Schemes- V.R. Deshpande Memorial Trust, Tamilnadu
- Section 35AC,r.w. Explanation (B) Thereto, of Income-Tax Act, 1961 – Eligible Projects Or Schemes – Kalgidhar Society, Himachal Pradesh
- Section 35AC, r.w. Explanation (B) of The Income-Tax Act, 1961 – Eligible Projects Or Schemes – Vidyarambam Trust, Chennai
- Notified Eligible Projects Or Schemes – John Daycare & Boarding For Senior Citizens Association, New Delhi – Section 35AC, Read With Explanation (B) Thereto
- A gift is to be treated as genuine when the assessee discharges the onus cast on it for proving the identity, creditworthiness and relationship of the donor and the done
- Writing off the bad debt by itself is enough to claim deduction of bad debt u/s 36(2)
- Opinion of one expert cannot be rejected on the basis of that of another expert unless there is sufficient independent reason for such rejection
- Leveraged Buyout – The new move
- Income tax Return Preparation Software for FY 2011-2012 / AY 2012-2013
- Residential Status- Period of stay during visit to India on deputation would be excluded- HC
- Disallowance u/s 40A(2)(b) can not be made without enquiry in respect of the fair market value of the services
- Download Effect analysis of IFRS 10 and IFRS 11
- Male Hindu cannot adopt without the consent of wife – SC
- Service Taxation to Take Rejig
- Scrap in the nature of bye-product of industrial operations, would qualify for deduction u/s 80IB
- Margarine is edible oil and eligible for concessional tax of 4 percent – SC
- If the products are capable of classification under two chapter headings, then the classification must be under the heading which occurs last in the numerical order- Sc
- Validity of Notice u/s 148 in the name of dead person
- Depository Participants – Frequently Asked Questions (FAQs)
- Credit Rating Agencies – Frequently Asked Questions (FAQs)
- Documents pertaining to the transactions in relation to which PAN to be quoted
- Criteria / Guidelines for Income tax Scrutiny for A.Y. 2010-11 / F.Y. 2009-2010
- Govt may soon make Registration of Marriages Compulsory
- Comments Invited on the draft National Competition Policy version – II
- Madras High Court Dismisses Petition Challenging Exemption of CBI from RTI
- Stuffing of export containers under supervision of Central Excise Officers – regarding
- Acceptance of specified e-forms filed by Directors of defaulting companies- General Circular No. 63/2011
- Verify MEF declaration status as on 23-08-2011
- Statutory audit of public sector and private/foreign banks simultaneously
- Application for allotment of PAN and documents required as identity and address proof
- PF and ESI Act covers unskilled workers too
- India’s External Debt – A Status Report 2010-11
- Export Grows 44.2 Per Cent in August at US $ 24.3 Billion – Commerce Secretary
- Govt bans export of all varieties of onions
- Government removes ban on export of wheat
- SEBI (Mutual Funds) (Amendment) Regulations, 2011 – Amendment in Regulations 24, 25, 36, 43, 44, 56 and Insertion of Chapter VI-B
- RBI Guidelines on Base Rate – Circular No. DBOD.Dir.BC.34 /13.03.00/2011-12- Dated- September 9, 2011
- Govt removes ban on export of non-Basmati rice
- Online transmission of DES (Advance Authorization), EPCG and DEPB at ICD Karur(INKAR 6) w.e.f. 12.09.2011 – regarding
- After passing the order by the Settlement Commissioner, no power vests on the A.O. or any other authority – HC
- Govt exempts allowance and perquisite paid to Chairman/retired Chairman or any other member/retired member of Union Public Service Commission
- India enters DTAA with Taipei u/s 90A of the Income Tax Act, 1961
- Income Tax – Measures taken by government to Tackle Black Money
- India to Reduce Tariff Lines under Sensitive List by 20% by Next Month
- No company with Baba Ramdev as Director
- Not may cases pending with MCA related to Appointment of MD, Directors and Managers
- CCI investgating cartelization by Synthetic Fiber Manufacturer Companies
- Issues in Complain against R-com not related to violation of Companies Act, 1956
- Govt formed expert group to study the legislative and regulatory architecture of the Society Registration Act, 1860
- 1.62 Lakh Companies not filed their Annual Returns and Balance Sheets for 3 consecutive Years or more
- 41 Complains alleging non-repayment of deposits by companies in last three Years
- During April – August 2011 ,Gross Direct Tax Collections up by 25.89 Percent
- India Signs DTAA with Uruguay
- MCA Circular on e-filing to avoid last minute rush
- Rent from Simple Letting of Property is Business Profits- Allahabad High Court
- CBI found 2 crore at home of I-T commissioner Daya Shankar’s CA
- Profits attributable to ‘Dependent Agent Permanent Establishment’ Taxable in India – Delhi HC
- Transfer and Posting of ACIT/DCIT and JCIT/Addl. CIT – Order No. 155 of 2011
- Lok Sabha passes 13 Bills and the Rajya Sabha passes 09 Bills during the session
- RBI releases ‘Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks – March 2011′
- MEF Empanelment – Last date for submission of Declaration extended upto 15th September, 2011
- Income Tax Calculator for FY 2011-2012 / AY 2012-2013
- FM wants CBDT to continuously evolve innovative way of taxation especially related to cross border taxation
- RBI Increasing Policy Rates to Contain Inflation
- Guidelines on NRI Marriages
- Renting of Immovable Property – HC extends Stay
- Provision made to incentivise performance of workers cannot be disallowed u/s 43B(c)
- Depreciation on cooling chambers of the cold storage is allowable at the rate of 25%
- Once the CIT grants approval for registration of the trust u/s 12A, the AO not required to re-examine the the object and purpose of the trust
- Whether the expenses incurred on replacement of body of dumpers is revenue in nature ?
- Immovable properties used primarily for business purpose cannot be taxed under the Wealth Tax Act
- Word ‘erroneous’ in section 263 includes failure to make an enquiry by the AO
- Amends Notification No. 14/2010-Customs, dated the 20th February, 2010
- FM Stresses on Financial Inclusion; Says Banks Need to Keep A Strong Vigil on their Asset Quality
- External Commercial Borrowings – RBI simplifies procedure
- Deferred Payment Protocols between Government of India and erstwhile USSR
- Minimum Export Price of varieties of onions increased to 475 per Metric Ton F.O.B.
- Substitution of term Micro and Small Enterprises in place of ‘Small Scale Industries’ (SSI) in the documents
- Notification to extend the exemption to some additional goods when imported from Least Developed member-countries of SAARC under SAFTA
- Quick Referencer on Sebi Circulars (1st January – August 10, 2011)
- Due date for submission of ITR-V for A.Y. 2010-11 extended upto 31.10.2011 or 120 days from the date of upload whichever is later
- DTH service like a cinema ticket, Govt can impose entertainment tax – HC
- Dealers in Maharashtra can upload revised sales tax /Vat returns for the periods up to April 2011
- Financial Statements for the limited purpose of IPO/FPO during the Financial Year 2011-12 may be made in per-revised Schedule VI format
- RBI comittee recommends increase in PPF Deposit Limit from Rs. 70,000 to Rs. One Lac
- Guidelines to Streamline Pension Payment Issued; Banks Advised to Formulate Pension Friendly Measures
- Approval of e-forms 1, 18 and 32 on the basis of certification and declarations given by the practicing professional not going to be implemented yet
- Penalty on Foreclosure /Prepayment of Home Loans should be be reasonable and transparent
- RBI issues guideline to Enable Banks to Effectively Manage Risks Arising Out of Outsourcing
- Reduction of Taxes on Petro-Products
- Government Takes Necessary Action to Protect Markets while Keeping Close Watch on Global Developments
- Sharad Pawar forgot few zeroes while declaring assets – BJP
- Transfers & Postings of Commissioners and Directors of Income-tax w.e.f. 06.09.2011
- ICWA – Presidents Message September, 2011
- UPA signs off on new land acquisition Bill
- RBi ask Banks to not to recover pre-payment charges on floating rate loans
- RBi notification on RTGS service charges for members
- IRDA – Servicing of Health Insurance Schemes offered by Bodies other than Insurance Companies
- Payments made by the assessee to the employees employed on daily wage basis cannot be said to be a contractual payment
- Reimbursement of expense received in connection with the rendering of consultancy services not taxable as ‘fees for technical services’
- Pnealty can not be imposed without adjudication by any authority – SC
- Element of transaction of sale is pre-requisite for levy of sales tax
- Items used in the manufacture of capital goods and parts thereof and are eligible for CENVAT credit
- Agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion with Singapore
- Regarding Self-Assessment in Customs
- Customs – On-site Post Clearance Audit (OSPCA) – CBEC Chairman Allays Apprehensions
- Additional Director of Income Tax (Investigation) duly authorized to issue warrants of search
- Government not made it compulsory for every company to have policy for Corporate Social Responsibility
- Fee for use of software taxable as Royalty – ITAT Bangalore
- No verified information available to suggest that corporate frauds are on increase
- Conditions fo Export of Non-Basmati Rice
- Speak-Asia Online not registered its place of business with the Registrar of Companies, Delhi
- Income from share transactions of the partners cannot be assessed as those of the firm acting as broker of Partners
- High Court has power to review its own decision rendered in appeal filed under the Central Excise Act, 1944
- Service of notice on the assessee under Section 143(2) within the prescribed period of time is a pre-requisite for framing the block assessment under the Income tax Act
- Income derived by Global Geophysical Services Limited under the contracts with ONGC and Cairn Energy India Pty Limited is to be computed by applying the provisions of section 44BB of the Income-tax Act 1961
- Corrigendum to Board’s instruction Regarding export of Pan Masala-Gutkha packed in plastic sachet by 100% EOU
- Submission of Credit Information to Credit Information Companies – Dissemination of Credit Information of suit-filed accounts
- DGFT – Amendment in Appendix 37D, Table-2, Serial number 11
- Quick Referencer On MCA Circulars (1st January – 31st August ,2011)
- Merely because commission is paid to the employees, they do not cease to be employees under the PF Act
- ICAI and Other Examining bodies should get tuned to RTI Act – SC
- India cannot have a treaty with Switzerland under which the deposits of Indians in Swiss banks would be taxed by European nation – CBDT
- Loss arising on year-end valuation of an interest rate swap allowable as a deduction – ITAT Mumbai
- M/s M.R. Tourist Home & Ors. Vs. Sales Tax Officer & Ors. (Supreme Court)
- Interest income on trade advance given by a credit institution towards purchase of machinery for which the delivery is delayed, is not covered under the definition of ‘interest’ as defined u/s 2(5A)
- Allowance cannot be made merely because future payments were made out of the funds said to be kept in the suspense account
- Depreciation at the rate of 50% cannot be claimed in respect of vehicles given on lease
- In case of loss making company valuing goodwill at 10% of the total consideration, without any material on record not sustainable
- Compensation received for the mere loss of profits will be a revenue receipt, while the compensation received for the loss of a source of income would be capital receipt
- Sale proceeds’ in Sec 10A also means net proceeds if the goods are purchased from foreign buyers on credit and assessee is entitled to benefits u/s 10A
- Whether the disallowance is rightly made u/s 14A by applying rule 8D prior to the amendment?
- When assessee sub-contracts work in progress and AO examines all the claims u/s 143(3), in such a situation, CIT is not right in invoking revisionary powers u/s 263
- Fees from technical services provided by non-resident-When taxable in India
- Assessee not entitled for deduction u/s 80HHC in respect of DEPB income if one of the condition of third proviso to section 80HHC(3) not satisfied
- In case of business liability, deduction is to be allowed even if it is to quantified and discharged at a future date
- Whether, even if no incriminating document is found during the search but assessee makes some voluntary disclosure, penalty is still warranted?
- DTC may come into force from April next year, says FM
- If the addition has been restored to the file of A.O., the penalty on this aspect should also be restored to the file of A.O. for taking a fresh decision
- Monetary Policy Response to Recent Inflation in India
- IFRS Taxonomy Interim Release for Common-Practice Concepts
- VAT on BOT contracts-a view point
- Government Small Savings Schemes – Salient features including Tax Rebate
- RBI Act provides adequate protection to small depositors in financial institutions
- Uncertainty in Global market not to have much impact on India
- Government takes Various Steps to Curb Circulation of Fake Currency
- Fema Act, 1999 have no Provision to initiate prosecution
- Govt taking Measures to Popularize Small Saving Schemes
- 38 foreign banks functioning with 321 branches in India
- SEBI puts in place mechanisms to monitor and assess foreign institutional investments
- National Manufacturing Policy within September – Anand Sharma
- Custom Duty – Regarding extension of terminal date of basic custom duty exemption on raw sugar and white/refined sugar
- Post Offices to Provide Visa Related Services In Remote Areas
- Disallowance u/s. 40A(9) for Statutory Corporations cannot be made as their Service Regulations have ‘force of law’ – ITAT Pune
- Last Chance Mr.Obama……
- Even if ‘Representative Assessee’, no liability for unconnected income – Delhi HC
- Circular On Monetary Limits For Filing Appeals Applicable Prospectively not for earlier Appeals- CBDT
- Whether the adjudicating authority entitled to load royalty/licence fee payment on to the price of the imported goods, viz, the shuttle(s) by taking its peak price?
- IT notice to Arvind Kejriwal a routine affair – Govt ; Team Anna crticises the move
- Agricultural Productivity and Credit- Issues and Way Forward
- Constitution of new Dispute Resolution Panel at Mumbai – ORDER NO. 7/FT&TR/2011
- DGFT- Modification of SION B-149 under Electronics Product Group
- SEBI (Prohibition of Insider Trading ) (Amendment) Regulations, 2011
- Whether Compensation received for termination of the joint venture is capital or Revenue receipt?
- Reassessment proceedings could not be initiated where reasons recorded is merely change of opinion
- Limitation period does not apply to withholding tax proceedings – Punjab & Haryana HC
- Redemption of preference shares not taxable as deemed dividend and amounts to ‘transfer’
- E-filing of Service tax returns compulsory w.e.f. 1st October 2011
- Free Software for Income Tax, TDS, Audit Reports, Project Report/ CMA, Form Manager, AIR, Service Tax
- Marketability is essential criteria for charging excise duty and product must be marketable in the condition in which it emerges – SC
- Helium Gas purchased in bulk, processed and sold in cylinders – liable to excise duty – Supreme Court
- Comments invited on draft ‘Bill of Entry (Electronic Declaration) Regulations, 2011’ and draft ‘Shipping Bill (Electronic Declaration) Regulations, 2011
- Regarding Export of Pan Masala-Gutkha packed in plastic sachet by 100% EOU -Application of provisions of Plastic Waste Management and Handling Rules, 2011
- ITAT lay down principles on ‘splitting of turnkey contracts’, role of PE and taxability of profits from offshore supply
- Circular specifying monetary limit for appeal filing should not be applied ipso facto, when the matter has a cascading effect – SC
- If work undertaken by petitioner is ‘works contract’ which is defined under Section 2(55) of the VAT Act, 2005, it cannot be said that the respondents have imposed any tax without authority of law
- Six Year after Income Tax Official jailed for taking bribe
- All about Income Tax Deduction Under section 80CCC, 80CCD and 80CCF
- Cost Accounting Standard Board invites comments on Exposure Draft Guidance Note-Cost Accounting Standards(CAS-4)
- Regarding imposing safeguard duty on N1, 3-dimethyl butyl-N’phenylenediamine
- DGFT – Annual quota for import of marble from Bhutan increased to 5,882 MTs
- Exemption u/s 54F to HUF allowable even if property is in the name of individuals but purchased from HUF account and with HUF’s PAN
- Merely because a legal claim has been made, and even though the said claim has been found to be inadmissible, penalty under section 271(1)(c) cannot be imposed
- ‘False and frivolous, submissions by CIT (DR) before ITAT constitute ‘criminal contemp’ and justify recovery of costs from salary
- Dividend income derived by assessee from a company in Malaysia not liable to be taxed in the hands of the assessee in India under any of the provisions of the Act – SC
- How to download Consolidated TDS/TCS statement for preparing Correction Returns
- eTDS Correction Returns – Common reasons for rejection of TDS Returns and solution for the same
- Procedure for download and merging of split TDS/TCS statement
- Download Form 3CD, 3CA, 3CB and Caro Report in Excel
- Download Revised Form 3CD in Excel PDF Format alongwith Tax Audit Checklist
- Income under the Head ‘Salaries’ including the valuation of perquisites
- Consequences for Non Payment or Late Payment of TDS
- Salary Income – Conditions for Claim of Deduction of Interest on Borrowed Capital for Computation of Income from House Property
- Income Tax Rates/ Slabs FY 2011-2012 / A.Y. 2012-2013
- Format of reply to Penalty notice under section 272B for wrong quoting or non-quoting of PAN
- ICAI to soon release book covering direct and indirect tax, accounting standards, list of mandatory statements and standards on auditing, peer review etc
- Declared goods except wheat and paddy still taxable @ 4.4% in Punjab after ordinance dt 17-08-2011- Section 8(1) and 62(5) of PVAT amended
- RBI – Authorisation Guidelines for Primary Dealers (PDs)
- CBI arrests an Additional Commissioner of Income Tax Andasu Ravindra and two others in a bribery case of Rs.50 lakh
- IASB proposes to exempt investment entities from consolidation requirements
- FAQ on XBRL regarding software Purchase, Training, Filing of form 23AC and 23ACA , How to upload and Taxonomy
- Tax Worth Rs. 249 Crore Recovered from BCCI
- IRDA issues Clarification on Investment in Venture Funds
- FEMA – Section 41 of the Foreign Contribution (Regulation) Act, 2010 – Composition of certain offences – Specified offences and authority
- RBI – Reflections on Regulatory Challenges and Dilemmas
- Penalty for failure to export cotton yarn in terms of Policy Circular No. 27 dated 01.04.2011 and Policy Circular No. 38 dated 10.08.2011
- Changes in address, contact numbers and e-mail address of Export Promotion Council for EOUs and SEZ Units/its Regional Offices
- Modification of Sion C-1579 under Engineering Product Group- Billets of Iron/ Low Carbon Steel for Remelting has been added at Sl No. 2
- Notification No.63/2011-Customs (N.T.) dated August 30, 2011- Tariff Values of Edible Oils, Brass Scrap (All Grades) and Poppy Seeds Notified
- RBI launches the 25th Round of Inflation Expectations Survey of Households
- MVAT – Grant of Administrative relief to unregistered dealers
- SEBI (Stock Brokers and Sub-Brokers) (Second Amendment) Regulations, 2011 – Amendment in Regulations 17, 26 and Schedule II
- No Penalty in case of interpretational nature – Supreme Court
- CBDT – Instructions to subordinate authorities – Handing over of Charge – Need for proper Handing Over Note
- CBI arrests Income Tax Commissioner (Appeal) Daya Shankar in Mumbai for allegedly accepting bribe of Rs. 2 lakh
- While kidnapping is an offense, paying ransom is not; Ransom can not be disallowed under Explanation 1 to s. 37(1)
- Taxation Of Services Based On a Negative List Of Services – Concept Paper For Public Debate
- RBI releases Draft Guidelines for Licensing of New Banks in the Private Sector
- Key Feature and Background of Draft Guidelines for Licensing of New Banks in the Private Sector
- New Companies Bill – Government proposes to further strengthen the SFIO
- Independent Directors liable for penal action (including for frauds)
- FM Confident of India’s Capacity to Come Out Stronger from any International Financial Crisis
- RBI releases Report of the Working Group on the Issues and Concerns in the NBFC Sector
- Section 120(1) and (2) of the Income-tax Act, 1961 – Income-tax authorities – Jurisdiction of DG (Investigation)/Commissioners – Amendment in Notification No. S.O. 734(E), dated 31-7-2001
- Section 120(1) and (2) of the Income-tax Act, 1961 – Income-tax authorities – Jurisdiction of Commissioners – Amendment in Notification No. S.O. 733(E), dated 31-7-2001
- Section 118 of the Income-tax Act, 1961 – Control of Income-tax authorities – Notified subordinate officer
- Change of designation of officers representing CBEC in the CESTAT
- Custom Duty – Rate of exchange of one unit of foreign currency equivalent to Indian rupees for the Month of September, 2011
- Infrastructure Finance Companies (IFCs) — as eligible issuers for FIIs investment limit in debt instrument for infrastructure
- SEBI – Processing of Investor Complaints in SEBI Complaints Redress System (SCORES) – CIRCULAR NO. MIRSD/19/2011, DATED 26-08-2011
- Redressal of investor grievances against stock brokers and sub- brokers in SEBI Complaints Redress System (SCORES)
- RBI extends Rupee Drawing Arrangements (RDAs) under the Speed Remittance procedures to Exchange Houses situated in Malaysia
- SEBI (Merchant Bankers) (Second Amendment) Regulations, 2011 – NOTIFICATION NO. LADNRO/GN/2011-12/17/26149, DATED 16-08-2011
- Revised proforma for monthly report of disposal of appeals by CIT(A)
- 89(1) Arrears Relief Calculator for Govt Employees with Form 10E
- Income Tax Calculator for Govt Employees for FY 2011-2012
- Income Tax Rates (For Individuals, HUFs, AOP, BOI) for A.Y. 2011-12 and F.Y. 2010-11
- Income Tax Rates (For Individuals, HUFs, AOP, BOI) for A.Y. 2010-11 and F.Y. 2019-10
- Income Tax Rates (For Individuals, HUFs, AOP, BOI) for A.Y. 2009-2010 and F.Y. 2008-2009 alongwith Deductions and FBT rates
- Income Tax Rates (For Individuals, HUFs, AOP, BOI) for A.Y. 2008-2009 and F.Y. 2007-2008 alongwith FBT rate chart
- Service Tax on Assistance Provided For Processing Visa Applications
- Return of Income to Be Filed Electronically Under The Digital Signature
- Taxation of Interest Received From Post Office Savings Bank Account
- Exemption From Furnishing Return of Income In Respect of Certain Class Of Persons
- Whether royalty paid for use of brand names and trade marks is to be treated as capital expenditure?
- Assessee liable to pay interest under s 234B and 234C on the tax payable on book profits computed under s 115J, notwithstanding the fact that it was a deemed profit
- Computer peripherals entitled to depreciation at 60% and advertisement, ad film and website expenses are revenue in nature
- The expression ‘may also be taxed’ used in Article 7 permits only the State of Source to tax such income and the State of Residence is precluded from taxing such income
- CIT(A) cannot dismiss the assessee’s appeal without adjudicating upon the question as to whether the law to s 248, as amended with effect from 1 June 2007, was applicable or not
- Merely because assessee does not produce copy of agreement to AO but does so before CIT(A), ITAT cannot delete relief granted by CIT(A)
- Striving For Freedom in Independent India
- CBDT circular on refund procedure for excess TDS on payments to residents pertaining to the period up to 31 March 2010
- Software License Income Taxable As ‘Royalty’ – Australian Federal Court
- Number to Word Convertor for Microsoft Excel without add ins
- Payment made for accreditation not covered by the definition of ‘royalty’ under Article 13(3) of India UK tax treaty
- Widening of the Scope of Notified Purposes Under Section 10(23AAA)
- PM’s Letter to Anna Hazare
- Verification of Marks of CS June, 2011 Examinations
- ICWAI invites queries from members on The Companies (Cost Accounting Records) Rules, 2011 (CARR) & The Companies (Cost Audit Report) Rules, 2011 (CAR)
- No penalty on brokers if he transfer the trades executed in the wrong client name or code to an ‘Error Account’
- Parliament passes unanimous resolution on Anna’s demands
- Jammu and Kashmir removes VAT on state-made goods traded across LoC
- Marine Products Exports Touches 2.8 Billion in 2010-11 Frozen Shrimp Major Export item Accounting for 44.17%
- Finance Minister’s Statement in the Lok Sabha 27 August 2011 on Jan Lokpal Bill
- ICAI asks members to pay Annual Membership and COP Fees by 30th September 2011
- Strip Club ‘Pole Tax’ not unconstitutional – Texas Supreme Court
- Foreign Direct Investment (FDI) Prospect for India
- Cost Accountant – Career, Prospects, Academic pursuits Audit and Other Work Opportunities for those in Practice and in Employment
- Important message on XBRL Taxonomy and Validation Tool
- PM’s speech in the Lok Sabha debate on Corruption and Lokpal Bill
- Appellate authority has every right to remand a matter on a specific point if the mistake of the authority below is limited to that very point and, in such a situation, there is no necessity to pass an order of a fresh assessment on all points
- Discretion lies with the Tribunal to admit additional evidence in the interest of justice
- Transfer Pricing- Comparables have to be compared on similar standards
- When assessee fails to declare the undisclosed income in block return, and the additions made by the AO based on the seized materials are sustained, penalty is warranted in such a case
- TRO can sell the right, title and interest of the defaulter assessee and nothing more, If the said right, title and interest is hedged with the conditions or fetters, the sale will be made subject to the said condition/fetters
- ICSI – Last date for Annual Membership fee for the year 2011-12
- Massive Death …Gifted By Speculators
- Government decides to increase the share of Microenterprises in Micro and Small Enterprise (MSE) lending needs too 60% in a phased manner
- Depreciation at 100% can be claimed on the LP gas cylinders fitted to the chassis of transport vehicles
- From 1st October 2011 all type of Assessee’s required to file Service Tax Return Electronically/Online
- Gujarat HC upholds constitutional validity of service tax on renting of immovable property
- Assessee can claim lower of depreciation or business loss as claimed in the books of account for the preceding year while computing book profits u/s 115J
- Automated Form 16 for FY 2010-2011 & AY 2011-12
- Payment for software cannot be treated as a payment for ‘process’ liable to be taxed as royalty – ITAT Mumbai
- Lack of good faith and due diligence cannot be inferred when the grounds on which ALP determined by the assessee has been rejected are reasonably debatable
- Govt request High Courts to give priority to disposal of long pending cases
- Advocates can practice in courts across the country irrespective of their enrollment in any Bar Council without the need to transfer license to their desired States
- Clarification to the Indian Data Protection Laws
- For interest under Section 244A(1)(b) of the Act the relevant date is the date of payment of tax and not the date on which the amount of tax collected is credited to the account of the Central Government
- Centralised payment of court fee, w.e.f. 1.9.2011, by the CBEC – Directorate of Legal Affairs in appeals filed before the Supreme Court
- Multipurpose Empanelment Form (MEF)- Last Date of online Application extended upto 2nd September, 2011 (05:30 p.m.)
- Differences between proposed Ind ASs and Existing ASs
- SEBI direct brokers to redress investor complaints within a month of receiving them
- Rahul Gandhi’s speech in the Lok Sabha on the issue of corruption and Jan Lokpal Bill
- Bar Council of India ensures that each law college follows the Bar Council of India Rules, 2008
- Income Tax Dept to investigate if banks helped people hide black money
- IT Department collecting information on tax returns filed by political parties
- RBI – Contingency plan during strikes in banks / natural calamity- Arrangements for feeding of ATMs
- Amends Notification No. 63/1994-Customs (N.T.) dated 21st November, 1994 thereby declaring Silghat as an LCS
- Regarding anti-dumping duty on imports of PVC Flex Films, originating in, or exported from, People’s Republic of China
- Constitution Of New DRP At Specified Places – Modification Of Order No. 4/Ft&Tr/2011 And Suppression Of Order No. 5/Ft&Tr/2011
- Salient features of DTAA between Taipei Economic and Cultural Center in New Delhi and India-Taipei Association in Taipei and Full text of DTAA
- MCA introduces new feature to track the Companies in which a person is/was a director
- ITR- 1 for F.Y. 2010-11 / A.Y. 2011-12 with Auto tax Calculation
- Income Tax department unearths tax evasion of Rs 18 crore in its surveys in small districts
- Replacement of the Companies Act is likely to help in checking frauds committed by companies against investors
- State-wise number of foreign companies operating in India
- Whether the Companies Act, 1956 has prescribed any ceiling on the remuneration of chief executive officers (CEOs) of companies?
- Prosecution initiated by Govt on errant companies which violated the Companies Act, 1956 during last three years
- Government proposes to give more powers to the Serious Fraud Investigation Office (SFIO)
- 87 companies still vanishing
- Procedure for regulating refund of excess amount of TDS deducted and/or paid – Modification of Circular No. 2/2011, dated 27-4-2011
- ICSI Declares Results for the Company Secretaries Examinations Held in June, 2011- Check Result and List of Toppers
- RBI Committee to re-examine the existing classification and suggest revised guidelines with regard to priority sector lending classification and related issues
- RBI releases Annual Report for 2010-11
- Customs – Seeks to continue anti-dumping duty on imports of Polytetrafluoroethylene (PTFE) originating in, or exported from, People’s Republic of China
- CBEC imposes definitive anti-dumping duty on all imports of 1-Phenyl-3-Methyl-5-Pyrazolone, originating in, or exported from China
- Customs – Amends Notification No. 12/97-Customs (N.T.), dated the 2nd April, 1997
- ICAI awards for excellence in financial reporting – Invitation to Participate in the Competition for the year 2010-11
- Insurance – Proposed amendments to IRDA (Investment) Regulations 2008
- Banking, electronic payments and road ahead
- Appointment of Common Adjudicating Authority – Notification No.59/2011- Customs (N.T.)
- Section 120(1) and (2) of the Income-tax Act, 1961 – Income-tax authorities – Jurisdiction of Commissioners – Amendment in Notification No. S.O. 732(E), dated 3-7-2001
- Section 120(1) and (2) of the Income-tax Act, 1961 – Income-tax authorities – Jurisdiction of Director General/Director (Intelligence & Criminal Investigation)
- Section 120(1) and (2) of the Income-tax Act, 1961 – Income-tax authorities – Jurisdiction of Commissioners – Corrigendum to Notification No. 62/2010, dated 27-7-2010
- Comments suggestions invited regarding levy of service tax on distributors/sub-distributors of films & exhibitors of movie
- CS exam Results to be declared on 25th August 2011 (Today) at 11:00 AM
- India Signs Agreement for Avoidance of Double Taxation and the Prevention of Fiscal Evasion (DTAA ) with Georgia
- PM’s opening remarks and All party resolution on Lokpal Bill
- SEBI- All complaints to be forwarded electronically through SCORES only
- Service Tax – Govt issues show cause notices to Delhi, Mumbai Airport to recover Rs. 200 Crore
- Govt. impose definitive anti-dumping duty on imports of Caustic Soda, originating in, or exported from, Thailand, Chinese Taipei and Norway
- Andhra Pradesh PT Payment–Due Date changed
- Custom Duty – Issue of Customs House Agent License – Reference from field formations
- RA’s may scrutinize the ITC HS codes, IE codes etc of those allocated quantity of Rough Marble Blocks for import for Financial Year 2011-12
- Minimum Export Price of Onions other than Bangalore Rose Onions and Krishnapuram onions raised to US$ 300 per Metric Ton
- DGFT allows import of required raw materials for exports of ‘Briefcases/Suitcases/Beautycases’ made up of Poly Carbonate
- IRDA – Solvency Margin of Non-life Insurance in respect of Motor TP Pool
- New partners can not be held guilty for cheque issued by old partners – SC
- SC upholds tax and penalty on Multi System Operators
- Earnest money forfeited as per terms of tender for not entering into contract can not be refunded – SC
- 60 percent registered service tax payers not filing returns
- Removing Password from a PDF File – Especially pdf file downloaded from Income Tax e-filing portal
- Compensation to be awarded should not be measured by the nature, location or degree of the injury, but rather by the extent or degree of the incapacity resulting from the injury – SC
- Companies Bill, 2009 ready with Cabinet note for legislation – Veerappa Moily
- Custom Duty – Authorized Economic Operator (AEO) programme for implementation
- Financial Inclusion Necessary for Inclusive Growth
- Issuance of Non-Convertible Debentures (NCDs)-Minimum Rating of NCDs
- Clarification regarding non-inclusion of audits conducted under sections 44AD, 44AE and 44AF in the ‘specified number of tax audit assignments’
- Corporate Governance of Banks in India In Pursuit of Productivity Excellence
- Completion of online uploading of RCMC data on DGFT’s Server By EPCs/ Commodity Boards/Authorities
- Amends Notification No. 21/2002-Customs, dated the 1st March, 2002 thereby increasing TRQ for Skimmed Milk Powder
- Extending the Reach of Banking Facilities to Villages
- Applicability of Provident Fund (PF) contribution on certain allowances
- Co-Operative Societies, Principles, Types of Societies and Registration of the Societies in Mahaarashtra
- Govt approves creation of portal ‘Goods and Service Tax Network’ (GSTN)
- Income Tax Amendments applicable for November 2011 Attempt of CA Final Exams and IPCC Examination
- Simplification and Rationalization of Trading Account Opening Process
- SEBI – Circular for Mutual Funds – Circular No. Cir/ IMD/ DF/13/ 2011, Dated- August 22, 2011
- If any establishment or employer claims to be not covered under Employees’ Provident Funds and Miscellaneous Provisions Act, 1952, burden to prove in such cases is on the establishment – Delhi HC
- Assessee entitled to claim deduction in respect of the provision for warranty made on the basis of past experience
- Un-quantified and disputed ratable value as determined by Municipal Corporation can be termed as crystallised liability and can be claimed as deduction
- Ad hoc disallowance of foreign tour expenditure not sustainable without questioning the business purpose of the trip
- If two views are possible than Assessing Officers should take the one favourable to the Assessee and penalty for concealment cannot be levied
- Introduction to XBRL, How it works?, Benefits of XBRL and XBRL Glossary
- Fees paid to a foreign company for rendering testing and certification services cannot be treated as income deemed to accrue or arise in India under Section 9(1)(vii) of the Income-tax Act
- Fees received by KPMG for assisting an Indian Company in acquisition of Sugar mills in Brazil is not Fees for Technical Services under the Income-tax Act
- Income of non-resident attributed to its PE in India taxable as business profits; balance income not to be taxed as fee for technical services – ITAT Mumbai
- Expenditure incurred by the assessee-company, incorporated for carrying out the business of the BPO, prior to the setting up of business, cannot be taken into account for computing the business income
- ESOP Holding period to be reckoned from the date of exercise of option to buy shares and not from the earlier date of grant of options
- Amendment brought to cast TDS liability on individuals and HUF under section 194C do not applies to AY 2007-08
- Scope of DRP is restricted only to adjustments proposed in the draft assessment order and not beyond
- Whether when the assessee earns dividend income, disallowance of administrative expenditure incurred, directly or indirectly, can be made even without rule 8 provided AO is able to link the same to earning of the income ?
- Reassessment after four years on change of opinion not valid
- Provisions of Section 72A would be applicable only when ‘amalgamating company’ and not ‘amalgamated company’ has accumulated losses
- Non-Implementation of SAFTA by Pakistan
- Cooperative Housing Society (Delhi) – Frequently Asked Questions
- When the assessee fails to rebut the unexplained investment in the purchase of fuits, and the CIT(A) and Tribunal fail to record the fact that such entries were made in the books, the addition made by the AO is sustainable
- Section 54 -Capital gains – Exemption qua residential house
- Beginners Guide to Income Tax with FAQ
- Service tax on fee charged for issuance of Country of Origin Certificate (COOC) by Chambers of Commerce
- Common Admission Test for All Degree Courses
- Maharashtra VAT – Refund Of Security Deposit Made During Registration
- Directorate of Income Tax (Criminal Investigation) to investigate criminal offences under direct tax laws
- Insurance – Syllabus for Training of Telecallers – Distance marketing of Insurance Products
- Ministry of Minority Affairs extends Date for Receipt of Applications for Pre-Matric and Post-Matric Scholarship Schemes
- Insurance – Fund Approval Procedure and Guidelines on NAV Process – Corrigendum
- Campus Placement at ICSI-CCGRT, Navi Mumbai
- Sec 10A benefits cannot be denied on gain from fluctuation in foreign exchange if such gains are linked to exports
- Discount offered against defective materials supplied can not be disallowed
- Whether the activity of transportation of containers falls under the purview of provisions of Sec 194C?
- Running schools by collecting huge amounts of fees with five star facilities cannot be treated as a charitable activity only on the ground that the business carried on by such institutions is the business of education
- Whether when assessee company makes advances in favour of its Director holding 90% stake in the company, such loans are to be treated as deemed dividend in the hands of the company or the Director?
- Board circular which provides that even the indirect expenditure which benefit employees’ welfare is covered under FBT is not applicable
- Customs amendment bill in LS to validate notices issued by different officials during the past 25 to 30 years.
- Custom Instruction Regarding Installation of Weigh-Bridges at different ports
- Payment for infringement of patent, being purely compensatory in nature, cannot be disallowed
- Without physical verification, additions cannot be made for discrepancies in the stock register
- Additions u/s 68 cannot be made merely because the affidavits filed by share subscribers were not attested by first class magistrate
- Inauguration of Residential Quarters-cum-guest House by Honorable Finance Minister
- DGFT – Regarding Consolidated Guidelines for import of precious metal by the Nominated Agencies
- Conclave of ICAI Members in Entrepreneurship & Public Services on 22nd September 2011 at 3.30 PM at Hotel Shangri La, New Delhi
- Repo and Reverse Repo Rates Increased by Reserve Bank of India from Time To Time To Contain Inflation
- FM Reviews Economic Situation with RBI Governor and Chairman, Pmeac
- Amends Notification No. 61/1994-Customs (N. T.), dated the 21st November, 1994
- National Manufacturing Policy in Few Weeks, Cabinet Paper Moved Anand Sharma Addresses Export Summit-2011
- Royalty paid on import of Goods / prerecorded music cassette or a popular film to be included in the transaction value for Custom valuation – SC
- Salient features of LLP Act, 2008 and Statewise Lise of number of firms converted to the LLP during the last three years
- No definite time frame can be given to pass ‘Valuation Professionals Bill’
- No verified information to suggest that cases of corporate frauds are on rise
- Constitution and Functions of Competition Commission of India (CCI)
- Registration of a Company within 24 to 48 hours
- Benefits of Ss 12A and 80G cannot be allowed if there is no charitable activity and assessee undertakes only commercial activity
- Amendments in Cause list of all CESTAT, Benches with effect from 5th September, 2011
- CBEC Fixes Monetry Limit for Custom, Service tax and Excise Appeal filing with CESTAT, High Court and Supreme Court
- RBI – Minutes of the July 20, 2011 Meeting of the Technical Advisory Committee on Monetary Policy
- RBI – Half-yearly Report on Management of Foreign Exchange Reserves (March 2011)
- 926 branches of Banks to accept Advance Income Tax in Mumbai and Navi Mumbai
- CBI cancels FIR – Retired Income Tax Assistant Commissioner to be paid retirement benefits
- ICAI – Launching of Committee for Capacity Building Of CA Firms and Small & Medium Practitioners (CCBCAF & SMP) Exclusive Website www.icai.org.in, for creating the website of the CA Firms
- Custom Duty – Amends Notification No. 21/2002-Customs, dated the 1st March, 2002
- Regarding continuation of anti-dumping duty on imports of Sodium Nitrite originating in, or exported from, People’s Republic of China – Notification No.76/2011-Customs
- Exporter can now obtain more than one RC for export of cotton during current cotton year 2010-11 (up to 30th September 2011)
- Company Law – Authorized Serious Fraud Investigation Officers
- All about The Jan Lokpal Bill
- Quarterly Report on Public Debt Management for the Quarter April-June 2011 Released
- ICWAI – Invitation for Empanelment of Resource Persons for preparation of Guidance Note relating to Performance Appraisal Report
- Update on Export of Non-Basmati Rice
- Statement of PM in Lok Sabha on Anna Hazarre’s movement for bringing Jan Lokpal Bill
- CBDT Chairman asks department to achieve revised Direct Collection target of Rs. 5.32 lakh crores
- Allowability of Interest U/s. 244A on MAT credit
- Depreciation can be allowed even if the machinery is not put to use
- When assessee declares higher profits in its revised return filed after detection of concealment, penalty u/s 271(1)(c) is warranted
- For deriving the benefit of section 22, the occupier and the owner must be the same person and hence the benefits are not available to partners if the occupant is firm
- Married daughter of deceased employee who was unmarried at the time of application eligible for Job – Bombay HC
- Black money – SC agrees to hear Centre’s plea against Special Investigation Team (SIT)
- DGFT – Allocation of quantity of Rough Marble Blocks for import for Financial Year 2011-12 along with list of allottees with IE Code
- Changing Inflation Dynamics in India
- FM gives go-Ahead to Environment Strategy for Central Board of Excise and Customs
- Service Tax Refund to exporters through Indian Customs EDI System (ICES) – Draft circular calling for comments, views and suggestions
- No disallowance u/s 14A of interest expenditure if AO fails to show nexus between borrowed funds and tax-free investment
- For claiming Sec 80IB(10) benefits registered deed is not necessary
- ICWAI and MCA organising XBRL PROGRAM with no Participation Fees
- ICAI – Office in-charge can only be Partner or paid assistant in whole time employment who attends such office for a period of not less than 182 days
- Whether, for the purpose of making addition, the findings of Customs authorities would prevail over the sales tax assessment order?
- Interest paid on borrowed funds cannot be disallowed when the assessee had ample funds at the time of investing in the equity of subsidiary companies
- Maintainability of Assesses claim for deduction U/s. 80IA if he sets up windmills at different places in different years and also has brought forward losses from the business against the provisions of Sec 80IA(5)
- The Liaison Office (LO) of non-resident taxpayer would qualify as business connection PE in India if the activities of the LO not confined to purchase of goods in India for the purpose of export
- How does the Reserve Bank of India Conduct its Monetary Policy?
- ICAI issues Verification Status of May-2011 CA Final Examinations
- Transactions of sale of shares of a closely held company can be construed as transfer of land and short term capital gain is chargeable
- Whether the amount paid/payable by the Applicant to LSCL under the transaction mentioned in Annexure III in respect of Offshore supply of Equipments is liable to tax in India in the hands of LSCL, i.e. the recipient non-resident Korean company?
- Income from provision of sea logistic services taxable under presumptive scheme – AAR
- Repayment of capital to the partners in the form of uncrossed cheque would not be liable to penalty u/s 269T
- Whether the non-competition fee paid to the assessee allowable as revenue expenditure?
- Technology in Banking- In Pursuit of Excellence
- ICSI – Campus Placement for the fresher members for job and for students for 15 Months Training
- Forex market development-Issues and Challenges -Thoughts of a returning forex market regulator
- Anand Sharma meets Asean Economic Ministers Negotiators asked to Step up Efforts to Conclude Services and Investment Agreement
- CBDT Press Release on Direct Tax Collections April-July 2011
- Amends Notification No.55/2008-Customs, dated the 28th April 2008 – Notification No.75 /2011-Customs
- WB government urges Centre to reconsider excise duty of 10.3 per cent on branded garments and hosiery
- Regarding continuation of anti-dumping duty on Pentaerythritol, originating in, or exported from, Chinese Taipei – Notification No.74 /2011-Customs
- Initially there was unwillingness on the part of Mauritius to revise its DTAA with India
- ICSI – New Examination Centres at Dhanbad and Kota for CS Exams
- RBI Circular on Misuse of Banking Channels – Issue and Payment of Demand Drafts for Rs. 50,000/- and above
- Webcast on Tagging and other Technical Aspects of XBRL at ICSI Headquarters
- GFI estimates total value of illicit money that has flown out of India at 20.92 lakh crore
- Minutes of Meeting of BCAS Representatives with CIT, Central Processing Centre
- Prime Minister’s Independence Day Address alongwith Highlights
- Entire mobilization/demobilization revenues received by the applicant with respect to seismic data acquisition and/or processing would be taxable in India at an effective rate of 4.223% – AAR
- No addition can be made u/s 41(1)(a) for the interest liability converted into the share capital as there is no cessation of liability
- When the assessee discloses all the details necessary for claiming a deduction on a debatable issue while filing the return of income, penalty is not warranted
- When the assessee carries out jobwork as a sub-contract to make article marketable, it is entitled to claim Sec 80HH benefits
- Depreciation of the windmills purchased in the same year, prior to the date of search, should be granted in the regular assessment
- Loss incurred from the insurance fund liable to be excluded in computing the actuarial valuation surplus in view of the fact that the income from that Fund is exempt u/s 10(23AAB)
- Gratuitous Loan by Company in return to an advantage conferred upon the company by such share holder not Deemed Dividend
- Whether when no application for additional evidence is made, ITAT should even then consider the additional evidence while deciding the appeal?
- Address to the Nation by the President of India, H.E. Smt. Pratibha Devisingh Patil on the eve of the 65th Independence Day
- Powers of Inspection, Search & Seizure under Punjab VAT Act, 2005
- When Revenue detects unexplained expenditure in the name of doctors of the hospital, Sec 69C additions in the hand of the hospital can be made only after doctors deny receiving such payments
- Submitting inaccurate claim would not amount to giving inaccurate particulars, Penalty can not be imposed U/s. 271(1)(c)
- A.O. cannot issue notice U/s. 148 on the basis of scanty and vague information and material which do not indicate escapement of income
- Process of lifting water is incidental to manufacture ; Supreme Court decision prevails over Board Circular – SC
- MVAT- Delegation of powers under section 64 (36) and (4) to Deputy Commissioner of Sales Tax , Mum-VAT-E-610
- Chandna Impex Private Limited vs Commissioner of Customs (Supreme Court)
- Exemption under Notification No.17/2001 cus, dated 1st March, 2001 available only if the goods are imported by ‘a person who has been awarded the contract’ by NHAI
- When it is found that the licences produced entitle the Respondent to clear the ex-bond goods free of duty, there are no reasons for them to have mis-declared the values since the goods are duty free
- HC was justified in refusing to expand the scope of the reference so as to include the silver weighing 1713.807 kgs. which was confiscated u/s. 111(d) of the Act while hearing the reference with regard to silver weighing 194.250 kgs. but confiscated under a different provision of law, namely, u/s. 120(2) of the Act – SC
- ICAI to submit its report to CBDT next month with its recommendations on tackling issues related to black money
- Only 6.74 lakh claims for refund of income-tax pending with I-T Department, Tax refunds pull down net direct tax collection by 8 percent
- IRDA makes it mandatory for insurers to seek prior approval in case of stake transfer to domestic entities or financial institutions
- Reference to the Special Bench cannot be withdrawn merely for the reason that the Hon’ble High Court has admitted the identical question of law in another case
- Europe…Who is Next
- No more tax-free zones in country – Pranab Mukherjee
- DGFT – EIC would also be authorized agency to issue Certificate of Origin under India-Japan CEPA
- Banks Cry, Mortgage Rating, Q3 & Q4
- Application invited from Students pursuing ICWAI Final Course for being considered eligible to receive Compendiums
- Sebi proposes to frame strict rules for research analysts and wants an independent oversight body for auditors
- Revised Press Release on Gross Direct Tax Collections- up by 26.63 Percent and Stood at Rs.1,32,542 Crore during April-July,2011
- Income Tax – Filing appeals to ITAT – New Instructions Issued
- Software vendorwise percentage of correction TDS/TCS statements accepted and rejected at TIN, rejection using consolidated file for the period April 1, 2011 to June 30, 2011 and percentage of TANs registered at TIN for the period August 1, 2010 to June 30, 2011
- Waiver from the requirement of Bank Guarantee in respect of EOUs – Amendment to Circular No. 54/2004-Customs dated 13.10.2004 – reg
- DGFT reduces Minimum Export Price of Sona Masuri, Ponni Samba and Matta varieties of rice to USD 600 per MT
- RBI says Liquidity in Indian banking system not under stress
- Tax info from overseas authorities is subject to confidentiality and cannot be made public
- ICAI issues Frequently Asked Questions on verification of marks
- Company Law Settlement Scheme, 2011 for companies who defaulted in filing Annual Returns with ROC
- ICSI playing a pivotal role in promoting good governance among the corporates-Dr. M. Veerappa Moily
- IASB proposes adjustment to effective date of IFRS 9
- RBI may further hike policy rates due to inflation
- ICAI requiress professional for taking session on various Subject in Courses offered by it
- Pranab Mukherjee Unveils a New Audio-Visual Presentation of Five Verses of ‘Jana Gana Mana’
- Documents/Notices to be filed with the Registrar of Companies
- RBI Advises Banks to Achieve Target of 60 Percent of MSE Advances for Micro Enterprises by 2012-13
- DGFT on Minimum Export Price of Onions – Notification No 66 (RE – 2010)/2009-2014
- Results of 16th Round (Q1:2011-12) of Survey of Professional Forecasters on Macroeconomic Indicators
- Operational Guidelines on implementation of Electronic Benefit Transfer (EBT) and its convergence with Financial Inclusion Plan (FIP)
- Tariff Values of Edible Oils, Brass Scrap (All Grades) and Poppy Seeds Notified -Notification No.57/2011-Customs (N.T.)
- Excise Duty – Under Section 35C(2) CESTAT cannot altogether take a different view in law and it cannot reappreciate evidence
- Honest mistake committed in maintenance of stock register can not be treated as fraud or willful mis-statement or suppression of facts – SC
- Clandestine removal of excisable goods can not be denied by the company if MD of the company voluntarily came forward to sort out the issue and to pay the Excise duty – SC
- When Did Amitabh become a Crorepati – Income Tax Knows?
- Cost of packing of motor cycles cleared to Depot to be included in assessable value for Excise Duty Valuation – Supreme Court
- India’s Export Grows 81 percent in July at US $ 29.3 Billion -Commerce Secretary
- RBI – Prudential Norms for Off-balance Sheet Exposures of Banks
- CBEC requiress Advocates for empanelment as Senior/Junior Standing Counsels to represent before Bombay HC
- MCA – Foreign Companies can file Form No. 52 under Company Law Settlement Scheme, 2011
- ICAI May 2011 PCC and IPCC exam – Pass percentage, List of Regional and All India Toppers and Analysis
- Regarding Name change of ICWAI to ICMAI /ICAI – President writes letter to Minister of Corporate Affairs
- Multipurpose Empanelment Form – 2011
- MCA – Revised Form 23AC and Form 23ACA applicable from 12th August 2011
- Whether while computing the disallowance u/s 37(3), each trip of the employee will be considered separately and no set off will be allowed for the amount of deficit in the next trip by the same employee in the same year ?
- Even if assessee admits different sums of undisclosed income on two different days, and then retracts one of its statements, no addition can be sustained for having recorded wrong disclosure statements during the search
- Whether the notional interest on interest-free deposit from tenants is to be considered while determining the correct ALV u/s 23(1)(a)?
- When assessee fails to receive TDS certificates on interest income from banks in time but decides neither to declare the income in his return nor to take credit for the TDS on the basis of duplicates collected, penalty u/s 271(1)(c) is warranted in such a case
- Delhi court sentences businessman to six months in jail in cheque bouncing case
- CSR contribution to be based on net Profit; Loss making companies not required to earmark specific funding for CSR activities
- RBI releases Its Monthly RBI Bulletin for August 2011
- Discretion to customers for selection between RTGS and NEFT
- Parliament permits government to mint coins of Rs 1,000 denomination
- Simplification of Passport issuance system
- SFIO investigates 33 cases in last 3 years and Competition Appellate Tribuanl (CAT) receives 36 appeals against decisions of CCI
- Govt to Disinvest 10% paid up equity of National Buildings Construction Corporation Limited
- Sikkim HC upheld conviction of EX- Chief Minister of Sikkim
- RTI -Students have right to inspect Answersheets – SC
- Delhi HC extends stay on non-basmati rice export
- CBDT order 141 of 2011- AD VI – Promotion, Posting and transfer of CCIT / DGIT
- Production Costs of Petro-Products – Petroleum Minister clarifies
- Custom Duty Notification Regarding reports of illegal imports of pesticides by some traders
- Final list of defaulters for failure to export of cotton in terms of Policy Circular No. 09 dated 29.12.2010 and Trade Notice No.01 dated 10.1.2011
- Launching of ICAI-ROC – A MCA-21 Compliance software for Practitioners & CA Firms
- RBI Master Circular on Use of Hindi in banks
- Service Tax – Taxability of expenditure in foreign currency in the case of M/s. ONGC Videsh Ltd
- Finance Minister asks Officers of Indian Cost Accounts Service to Perform the Proactive Role to help the Government to Use Its Resources in Most Optimal and Efficient Manner
- Growth rate of Software Industry considerably less than the annual average growth rate of the last five years
- SEBI imposes Penalty for shortcollection/non-collection of margins from clients in Equity and Currency Derivatives segments
- Conditions and modalities for registration of contracts of cotton yarn with DGFT- relaxation of -5% by weight in export of cotton yarn
- Amendment in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 85/2006-Customs, dated the 29th August, 2006
- Seeks to impose provisional anti-dumping duty on Opal Glassware, originating in, or exported from, People’s Republic of China and UAE
- RBI releases Report of the Committee to Review Facilities for Individuals under FEMA, 1999
- RBI Releases Draft Guidelines on Internal Risk Based (IRB) Approach for Calculating Credit Risk Capital Charge
- Press Release on ICSI Power Breakfast on ‘Corporate Governance & Integrity’
- Tax arrear increases to Rs. 3.90 lakh crore in financial Year 2010-11
- India to Partner with Africa for Buying Minerals and Providing Technology for Mining & Exploration- PTA by December 2011 – Anand Sharma
- Foreign Contribution (Regulation) Act, 2010 and foreign Contribution (Regulation) Rules 2011 comes into effect from 01.05.2011
- No Transfer pricing adjustment is necessary when period and basis of computation of royalty is different from comparable transactions
- Deduction u/s 10A allowable where HR Services were provided in the process of providing customized electronic data was exported to USA
- Gross NPAs of Public Sector Banks Stood at Rs.71,047 Crore as on 31st March,2011
- Qualified Foreign Investors (QFIS) Allowed to Access Mutual Funds’ Equity Schemes and Debt Schemes in the Infrastructure Sector
- Switch over to base rate from PLR system
- Ombudsman for Legal Sector
- Stock Broker’s services – Levy of service tax on delayed payment charges collected by service provider in respect of Stock Broker’s services
- D Subbarao gets 2-year extension as RBI Governor
- Income Tax department tracked down over 50 high-value defaulters
- Tonnage tax scheme in respect of a qualifying ship cannot be denied merely because it is used for transportation of cargo between Indian ports which are connected by rail / road
- Amendment in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 92/2007-Customs, dated the 3rd August, 2007
- DGFT – Regarding Notification no 64 dated 4th August 2011 for import of rough marble blocks for the year 2011-12
- Reverse Repo Window under Liquidity Adjustment Facility and Marginal Standing Facility – Change of Timing
- 10th All India Elocution Competition – 2011
- How to track your Income tax Refund online
- Income arising from activities which are only incidental to the business of developing, operating and maintaining infrastructure facility will not qualify for deduction under s. 80IA
- Compounding of offence is impermissible after the filing of the complaint, or where the person has already been convicted by a competent court
- Whether when the assessee is engaged in the travel business, income can be said to have accrued only after the customer boards for the cruise and departs or immediately after the ticket is booked?
- For the Purpose of sub-section 14(c) of s. 80-IB term ‘begins to manufacture or produce articles or things’ means the manufacture or production for the purpose of commerce and not for the purpose of testing
- Presence of a profit motive cannot lead to a conclusion that the transaction has been entered into as an adventure in the nature of trade ; Profit on Sale of TDR held as Capital Gain
- SEBI – Foreign investors who meet KYC requirement may invest in equity and debt schemes of Mutual Funds
- Investment in the units of Domestic Mutual funds
- Fm confident of Applicability of Direct Tax Code from 1st April 2012
- Companies Bill 2011 under finalization and will enable shareholders to file ‘class action suits’ in case of fraud
- Govt taking action against companies misusing IPO money
- Foreign Companies – 3112 companies incorporated outside India are having place of business in India but none in Bihar
- No proposal to close the inoperative Employees Provident Fund accounts
- 126102 Trade mark Disputes are under opposition and pending and 8183 files are missing
- FM – Our Economy can Address Concern Out of Recent Delevements in USA & Eurozone
- Recommendations of Supreme Court about Tribunals
- ICAI issues clarification on filling of Roll Number in IPCE and CA Final Examination Form
- CA Final November 2011 Examination Application Form – Clarification on error
- RBI Statement on Recent Global Developments
- Taxability in respect of International Private Leased Circuit (IPCL) charges and amendment in the definition of Telegraph Authority u/s 65 (111) of the Finance Act, 1994
- Opening of ‘Small Bank Account’ – NREGA job card and letters issued by the UIDAI can be treated ac KYC documents
- Trade Restrictions by WTO
- US Employment…….. Dow Jones Bubble
- When assessee mistakenly offers to tax interest income and also pays tax on such income, assessee should make rectification and /or waiver petition
- When the assessee does not get exclusive right over the technical knowhow and the trade mark, the royalty paid is revenue expenditure
- Benefit of s 43B(a) cannot be denied to the assessee on the ground that the excise duty was paid in advance in accordance with the mercantile system of accounting
- Activity of converting boulders into grit/stone chips/powder amounts to production and the assessee is entitled to a deduction under s 80-IB
- Income Tax Department to share PAN database with NATGRID
- FM – Confident to Achieve Appreciable Growth Despite Negative Sentiments Across the World;
- No Tax On Supply Profits Despite Permanent Establishment in India – AAR
- e-Filing for AY 10-11 – Quick Statistics (as on 31st July 2011)
- Government considering proposal to extend EPF to all companies with over 10 employees
- Opening of multi-brand retail to foreign investment moved one more step
- Substitution of term Micro and Small Enterprises in place of SSI in the documents
- Seeks to levy anti-dumping duty on imports of Sodium Formaldehyde Sulphoxylate (SFS) originating in, or exported from, China PR for a further period of five years pursuant to the final findings of Sunset review investigations conducted by the Directorate General of Anti-dumping and Allied duties
- If there is no failure to disclose fully and truly all material facts necessary for the purpose of the assessment, then the reopening of the assessment beyond four years from the end of the relevant assessment year is unsustainable
- Interest paid by the assessee, on account of an investment in its sister concern from borrowed funds for the acquisition of shares in a subsidiary company in order to have control over that company, is eligible for a deduction under s 36(1)(iii)
- Expenditure incurred on the total reconditioning and overhauling of the machinery, which had outlived its utility, by replacing many vital parts in order to make the same functional cannot be treated as current repairs
- When the assessee is already granted exemption u/s 10(23C)(vi), the fresh application of exemption cannot be rejected
- Opportunity of being heard is required to be given to the director of the private limited company before initiation of recovery proceedings pursuant to the issuance of a notice under s 179(1)
- When assessee fails to rebut the addition made by the AO in respect of undisclosed income found during the search and also chooses not to file appeal against the huge quantum addition, penalty is warranted in such circumstances
- Expenditure incurred in foreign exchange is to be reduced from the total turnover while computing the deduction under s 10A
- Tax cannot be levied on an amount wrongly paid to a person because of a mistake made by the payer – ITAT Mumbai
- Bombay HC upholds Service Tax on Renting of Immovable property
- MCA introduces Company Law Settlement Scheme, 2011 for default in filing of Annual Return, balance Sheet, P/L a/c, Compliance Certificate
- Income tax Department detect and deletes 11.69 lakh Multiple PAN Card
- Income Tax Department takes Several Punitive and Deterrent Steps to Unearth Unaccounted Money And Curb Tax Evasion
- Whether Iron and Steel structures manufactured and used captively in the factory for installation of the Sugar manufacturing plant by the assessee can be classified as capital goods under Rule 57Q of the Central Excise Rules, 1944?
- Service tax is payable on Sale of SIM cards, no sales tax – even if Sales tax is wrongly paid, Service Tax is payable – Supreme Court
- Electricity tariff is leviable at Commercial rates on Residential premises used by advocates for Commercial Activities
- CBDT Committee examining Amendment required in Law to Prevent Black Money
- 16 Imported Luxury Cars Seized between April,2011 to July 2011 for evasion of duty of Rs.4.87 crores
- RBI’s Monetary Policy Stance Aims to Maintain an interest Rate Environment that Moderates Inflation and Anchors Inflationary Expectation
- Whether when assessee files loss return, Revenue’s appeal is not sustainable on the ground of tax effect being Nil or lower than the monetary limit fixed by the Board ?
- Depreciation to be allowed on assets even if cost fully allowed as application of income under section 11
- While invoking the provisions of s 40A(2), the reasonableness of expenditure for the purposes of business has to be judged from the point of view of a businessman and not that of the revenue and after considering the nature of the business
- dditional Director of Income Tax (Investigation) is duly authorised to issue warrants of search in view of the retrospective amendment of s 132(1)
- Deduction under s 36(1)(vii) is allowable if the amount was advanced in the ordinary course of business and the debt was written off as irrevocable in the books of accounts
- Collecting jewellery of 906.900 grams by a woman in a married life of 25-30 years could not be treated as excessive
- Whether issue of notice u/s 143(2) is mandatory for assessment u/s 153A?
- Renting of Mobile Towers liable to VAT, not service tax
- Online transmission of DES (Advance Authorization), EPCG and DEPB at Air Cargo Complex, Cochin location w.e.f. 08.08.2011
- Standing Committee on Commerce Invites Suggestions of Public on ‘Performance of Plantation Sector – Tea and Coffee Industry’
- SEBI – Informal Guidance sought by you in terms of SEBI (Informal Guidance) Scheme, 1999
- An inadequate enquiry on the part of the AO would not, by itself, give occasion to the Commissioner to pass orders under s 263 merely because he has a different opinion on the matter
- Transfer Pricing – Comparable transaction prices obtained from customs authorities can be used for Arm’s Length Pricing
- AO to record satisfaction regarding existence of undisclosed income before proceeding u/s. 153C of the Act
- Assessee is entitled to deduction 43B based on the tax audit report even though no supporting evidence for payment was produced before the AO
- Regarding Prohibition on Carrying rice in baggage by air passengers travelling to USA
- GMR challanges AAR ruling imposing service tax on MRO activities rendered within the SEZ in HC
- Corporate Identity Number (CIN) is mandatory for all types of companies registered in India
- Video Conferencing mandatory in Annual General Meetings (AGMs) of listed companies from financial year 2012-2013 and onwards
- No proposal to get the statutory auditors appointed by a Regulatory Authority in respect of listed companies
- India Have 156K dormant companies out of which maharashtra has 35K, Delhi Second with 28K
- Competition Law – CCI (Form and Time of Preparation of Annual Report) Amendment Rules, 2011 – Amendment in Schedule
- Vodafone – Overseas transactions between two foreign companies cannot be taxed in India under present Income Tax Act
- CBEC – Institution of an annual award for officers and trade to encourage knowledge acquisition and capacity building
- ICAI issues Know Your Client (KYC) norms for members in Practice
- ICWAI – President Message August, 2011
- Company Secretaries can also verify Company Information in Winding up Cases
- Investor can now file their complain on MCAs website
- ICAI put on hold its notice dated 23.06.2011 related to Period of validity of Registration in CA Course
- Supreme Court- Proviso to s. 14A bars reassessment but not original assessment on the basis of the retrospective amendment
- States FMs panel on GST to meet on Aug 19
- Sebi clears single-window clearance for prior approvals
- HDFC Bank starts income tax payment facility through ATMs
- EOI – Empanelment of External Experts for assistance in IS Audit Function
- SEBI – Processing of Investor Complaints in SEBI Complaints Redress System (SCORES)
- DGFT – ICD Merripalem, Guntur District, (AP) included under para 4.19 of HBP v.1 for availing export promotion benefits
- Availability of DEPB benefit on export of Cotton made on or after 01.10.2010
- DGFT – Restoration of DEPB benefit on export of ‘Cotton yarn including Melange Yarn’
- DGFT – Quota of Skimmed and Whole Milk Powder under Tariff Rate Quota Scheme, amendment thereof – PUBLIC NOTICE NO.66 (RE-2010)/2009-2014
- Import policy of Worked monumental or building stone (except slate) and articles thereof, other than goods of heading 6801; mosaic cubes and the like, of natural stone (including slate), whether or not on a backing; artificially coloured granules, chippings and powder, of natural stone (including slate)
- RBI – Reconstitution of the Technical Advisory Committee on Monetary Policy
- DGFT – Policy for issue of import licenses of Rough Marble Blocks for the Financial year 2011-12
- DGFT – Export of Cotton [ITC (HS) Code 5201 and 5203] – obtaining of Registration Certificate – Notification No. 63 (RE-2010)/2009-2014
- DGFT – Re-import of perishable edible / food products for export again – Policy Circular No.35
- CBI arrests G.M. BCCL, Dhanbad, Jharkhand for offering bribe of Rs.5 lakh to an officer of CBI
- RBI – Policy Guidelines for issuance and operation of Prepaid Payment Instruments in India
- RBI – Security Issues and Risk mitigation measures related to Card Not Present (CNP) transactions
- CBI registers two cases relating to alleged irregularities in the funds allotted to the National Rural Health Mission
- PT Circular 12T of 2011 on Relief in Profession Tax to Mathadi Mandal, Mathadi kamgar etc in Maharashtra
- IRDA circular on Asset-Liability management and Stress testing for Non Life insurance and Reinsurance Companies
- IRDA circular on Asset-Liability management and Stress testing for Life insurance Companies
- Discrepancy shown in the tax audit report in respect of stock, which is duly explained by the assessee cannot be declared as unexplained investment
- If a deduction under s 80-IA has been taken, a deduction under s 80HHC is not admissible
- Interest income received by the co-operative bank from advance rent is eligible for a deduction under s 80P(2)(a)(i)
- Whether mere sale of development rights would equate to activities of developer and builder eligible for deduction u/s. 80-IB
- Transfer pricing – Internal comparability to be given preference over external comparables
- Maharashtra VAT – Additional Instructions for Filling Annexures to Form 704
- CBDT Chairman Releases Dos and Don’ts Manual 2011 for departmental use
- RBI seeks Public Comments on Report on Customer Service of Banks
- Lifting Ban on Export of Non-Basmati Rice
- Incentives for Textile Sectors; Proposal for Scheme for Integrated Textile Parks
- Govt to end gas Subsidy for people with annual income of Rs 6 lakh
- SC to hear Vodafone’s Rs 11000 crore tax dispute tomorrow
- Minister of State for Finance Releases Nabard-Giz RFIP Synthesis Report on Study of Remittance needs and Opportunities in India
- Empanelment with ALLAHABAD BANK for Concurrent/ Revenue Auditor, Last Date – 13th August,2011
- Performance of SEZ in last three years
- Message from the ICSI President July, 2011
- CBI registers four new cases regarding manipulation in AIIMS Entrance Exams
- Income earned by a non-resident by providing offshore service vessels on time charter basis is covered under Section 44BB
- Loss from a 10A unit is to be adjusted against taxable profit of other units after allowing deduction under section 10A in respect of such eligible unit
- Custom Duty – Amends Notification No.16/2011-Customs(N.T) dated the 1st March, 2011
- Inflation, Interest and Impact
- Comments invited from trade and industry for ‘On-Site Post Clearance Audit at the Premises of Importers and Exporters Regulations, 2011′
- DGFT – Export of Cotton [ITC (HS) Code 5201 & 5203], amendment in nature of restriction
- No penalty can be levied under s 271(1)(c) when there was only the CBDT Circular on the taxation of ESOP shares and where the assessee offered certain income in a particular year and paid taxes bona fidely and the AO taxed the same in another year
- FEMA – Exim Bank’s Line of Credit of USD 4 million to the Government of the Co-operative Republic of Guyana
- Comprehensive Guidelines on Derivatives – Modifications
- SEBI- Stock exchanges to send details of transactions to the investors through SMS and E-mail alerts
- Custom Duty- Seeks to notify the Customs Tariff (Determination of Origin of Goods under the Comprehensive Economic Partnership Agreement between the Republic of India and Japan) Rules, 2011
- In the absence of any cogent evidence to show that the transaction was not genuine, the amounts received by an intermediary cannot be assessed in the hands of the assessee
- CPT (Paper- Pencil Mode) will be held on Sunday, 18th December, 2011
- Whether the Tribunal was justified in deleting the unexplained investment on the fact that there was no difference in the cost of construction declared by the Assessee and that worked out by the DVO
- Reopening of the assessment is unsustainable if no reason exists to believe that the income chargeable to tax has escaped assessment
- Cases Pending in High Courts and Supreme Court on 30.06.2011
- CBI registers a case against the then Chief Postmaster General, Maharashtra and Goa for possession of Disproportionate Assests
- PF contributions need to be deducted for training period of Junior Officers/Junior Accounts Officers and other similarly placed employees
- Balance in PF account can not be disclosed under RTI
- MCA issues Master Circular on Prosecution of Directors
- Corrigendum to General Circular No. 54/2011
- Benefits of lower tax rates of 10 per cent as per proviso to section 112(1) is not available where shares of listed company are sold in off-market mode
- Entitlement of number of trainees by Company Secretary in Practice
- Highlights of Economic Outlook 2011-12
- India’s Foreign Trade – June, 2011
- FM says fundamentals of the economy are strong
- M.C. Joshi Takes Over as Chairman, CBDT
- Naved Masood takes over as new Secretary, Ministry of Corporate Affairs
- IRDA issues Exposure Draft on Pension Products
- SEBI- Indicative portfolio or yield in close ended debt oriented mutual fund
- CBI arrests a field officer of State Bank of India in a bribery case
- Misuse of Banking Channels – Issue and Payment of Demand Drafts for Rs. 50,000/- and above
- Amends notification no.06/2006-CE dated 01.03.2006 vide Notification No. 38 /2011 –Central Excise,
- Regarding exemption to specific goods when imported into India from Japan – Notification No. 69/2011-Customs
- Amends Notification No. 46/2011-Customs, dated the 1st June, 2011 vide Notification No. 68/2011-Customs
- Deduction of Tax at Lower Rate on Salary
- TDS on Salary Paid in Foreign Currency
- Adjustment for Excess or Shortfall of Deduction of TDS on salary
- Names of income tax defaulters would be made public- Pranab Mukherjee
- Supreme Court asks ICAI to proceed against Satyam auditor after October 3
- India japan CEPA comes into force Commerce Secretary calls it a Major Step for a larger East Asian Partnership
- IRDA circular on Fund Approval Procedure and NAV Guidelines
- EPF – Mere filing of appeal without obtaining any relief from the Appellate authority shall not preclude or prohibit the authorities to proceed further in the matter for recovery of the amount
- SEBI asks Promoters to disclose initial Shareholding and thereafter considerable changes in it
- Sibal to convert 1.5 lakh Post Offices into banks
- Former Additional Commissioner of Income Tax gets four years RI
- Sebi askes stock exchanges to penalise brokers transferring trades from one trading account to another after terming them as ‘punching’ errors
- PMO Explains ‘At Arms Length’
- Maharastra Profession Tax – Mandatory e-return for PTRC Monthly filers
- MVAT- Addition of new Banks as Govt. Treasury – Can Receive MVAT Payment
- CIT, Bangalore Vs M/s Maxim India Integrated (Karnataka High Court) (Dated – July 26, 2011)
- Penalty should not be imposed for if Assessee Paid service tax along with interest and late fee deposited before issue of Show Cause Notice
- GOvernment investigating details of assets and payments received by Indian citizens in several countries
- Transfer Pricing – Pygmies Not Comparable With Giants
- CBI books Air India former GM in Rs 1.4 Cr fraud case
- Comments, views and suggestions solicited on draft ‘Customs (Provisional Duty Assessment) Amendment Regulations, 2011’ latest by 13th August, 2011
- XBRL statement can be filed up to 30.11.2011 without any additional fee and can be certified by CA, CS, CWA
- MCA releases XBRL Validation Tool
- Govt. releases draft of National Land Acquisition and Rehabilitation and Resettlement Bill, 2011
- Initiatives Taken by The Institute of Chartered Accountants of India (ICAI)
- Ministry of Corporate Affairs Releases Draft of ‘National Competition Policy for India’ for comments
- ICAI hosted Multipurpose Empanelment Form (MEF) 2011-12, Last Date for Application is 27th August, 2011
- SEBI Board meeting – Proposed New Takeover Code
- ICAI President’s Message – August 2011
- Regarding Making E-payment of Customs duty mandatory -Circular No. 33/2011-Customs
- ICAI asks govt. to amend Income Tax Act
- May 2011 PCE and IPCC Examination Results likely on 8th August, 2011
- ICAI decides to waive off the cost of application form (i. e, Rs 500/-) in respect of candidates who fill in their Examination forms online
- Stay on operation of Trade Notice No. 13 dated 27.07.2011 for export of non-Basmati rice
- Transfer Pricing – whether the Tribunal was justified in entertaining the additional ground for exclusion of comparable
- When deductions claimed by the assessee are debatable, rectification order u/s 154 cannot be passed
- When assessee has made surrenders in the previous years, then AO can not make addition by treating the cash deposited in banks as undisclosed
- Derivative transaction entered prior to notification defining Recognised Exchanges is also eligible to be treated as non speculative transaction
- Rectification of an order does not mean deletion of the order originally passed and its substitution by a new order
- Blending of different types of tea comes within the purview of the word ‘processed’ within the meaning of s 80HHC(3)(a) of the Act
- Reasons are required to be recorded by the AO on valid material and an assessment cannot be reopened on mere assumptions
- For the levy of FBT, the application of s 115WC(2)(b) cannot be restricted only to the business relating to civil construction and it will cover the business activity of the assessee carried on
- Depreciation on pre-operative expenses allocated to fixed assets is allowable under s 32 since expenses were incurred for setting up of fixed assets during the trial run
- Only profit on the sale of the licence should be chargeable to tax under s 28(iiia) and not the profit which may come in the future on the sale of the licence
- Lokpal Bill government’s top priority,will be introduced in Lok Sabha by 3rd August 2011
- Income arising to foreign company by way of fees for technical services – Notified foreign company – EADS Deutschland GmbH, Germany notified u/s 10(6C) of The Income Tax Act
- Sebi approves uniform customer identification process for investors in different segments
- CBI arrests a DGM of NBCC in a bribery case
- Amends Notification No. 36/2001 – Customs (N.T.), dated, the 3rd August, 2001 vide Notification No. 54/2011 – Customs (N. T.)
- Announcements – Amendment in Council General Guidelines , 2008
- MVAT – Extention of Due Date for Payment of PTEC for 2011-2012
- ICAI Announces Definition of Relative in Chapter-IV of the Council General Guidelines, 2008
- Custom Duty – Provisions of Finance Act, 2011 (8 of 2011) will come in force from 1st day of August, 2011
- SEBI – Allocation of Government debt long term limits to FIIs – Circular No. CIR/IMD/FIIC/11/2011
- Amends Central Excise (Third Amendment )Rules, 2002 vide Notification No 19 /2011-Central Excise (N.T.)
- Excise Duty – Provisions of Finance Act, 2011 (8 of 2011) will come in force from 1st day of August, 2011
- Regarding anti- dumping duty on certain Rubber Chemicals originating in, or exported from, certain countries- Notification No.67 /2011-Customs
- Regarding DPC for promotion to the grade of Chief Commissioner of Income Tax (CCIT) in the CBDT, Department of Revenue
- MVAT- Mandetory e-return for PTRC holders from 01.08.2011
- Thin Capitalization Rules – ‘Debt to Equity to Tax can no longer be tossed’
- Blocking of DIN consequent to non-filing of Statement of Affairs (SOA)
- Draft Circular on Providing Gifts to shareholders during Annual General Meeting (AGM) of the Company – Comments Invited
- Foreign travel expenditure of the spouse of the Managing Director, pursuant to the board resolution, is allowable as business expenditure
- Bonus shares eligible for benefit u/s 115F of the Act if if original shares acquired in foreign currency – ITAT Mumbai
- Unabsorbed depreciation for and up to AY 1996–1997 could be carried forward and set-off against income chargeable under any head of income in any subsequent year
- Canvassing agent not business connection , Non-Resident, even with ‘business connection’, can be taxed only in respect of business operations carried out in India
- It is impermissible in a review petition for an assessee to re-argue and re-agitate the issues/questions which have been already considered and decided by the High Court
- ICAI – Campus Placement Programme for newly qualified Chartered Accountants, August-September, 2011
- Genuineness of transaction, being essentially a question of fact, cannot be lawfully raised for the first time before the Tribunal
- Section 35(1)(ii) of the Income-tax Act, 1961 – Scientific research expenditure – Approved social science or statistical research associations/institutions – Central Manufacturing Technology Institute, Bangalore
- Download Free E-Book on ‘The Process of E-filing of Income Tax Returns’
- Failure to issue a notice under s 143(2) does not render reassessment unsustainable when the assessment is in response to a notice under s 148
- CBDT Panel to curb black money to meet tomorrow
- In the absence of any satisfactory explanation for the late filing of the AIR , penalty can be imposed under s 271FA
- Chairman CBDT inaugurates special camp at Pragati Maidan, Hall No 12 and 12A
- Cabinet approves the Lokpal Bill, 2011
- CBDT Chairman – Tax collection targets for 2011-12 will be achieved
- India EU Reach an Understanding on Issue of Seizure of Indian Generic Drugs in Transit
- ICAI – Result of IRM on 8th August, 2011 held in May, 2011
- FEMA – FEM (Foreign Currency Accounts by a Person Resident in India) (Amendment) Regulations, 2011
- RBI – Relaxation to Trade and Industry in the State of Jammu and Kashmir extended up to March 31, 2012
- Rate of exchange of conversion of each of the foreign currency with effect from 1st August, 2011
- DGFT – Allocation of quantities of non-Basmati rice for export in terms of Notification No. 60 dated 19.07.2011
- Notice u/s. 148 of the Income Tax Act,1961 Invalid If Delivered Late To Post Office
- ITAT criticises AO for harassing the assessee by wrongly levying penalty
- Jurisdictional CIT should not be part of DRP to avoid Bias- Uttarakhand High Court
- Counterfeit notes – Banks to Lodge FIR if they detects 5 or more notes in a single transaction
- Income Tax Returns – Special counters for Delhiites
- Section 35AC, read with Explanation (B) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Subhag Mahila Utkarsh Trust, Gujarat etc.
- FSDC asks Government to strengthen interaction with rating agencies
- Custom – Cess not payable on on export of Lac/shellac
- Exposure Draft of Taxonomy for Non-Banking Financial Companies (NBFCs)
- RBI’s Master Circular dated 1-7-2011 on Branch Authorisation
- RBI’s Master Circulars dated 1-7-2011 on Prudential Guidelines on Capital Adequacy and Market Discipline- New Capital Adequacy Framework (NCAF)
- Regarding anti dumping duty on Poly Vinyl Chloride Paste Resin, originating in, or exported from, People’s Republic of China, Japan, Republic of Korea, Malaysia, Russia, Taiwan and Thailand – Notification No.66 /2011-Customs
- RBI’s Master Circular dated 1-7-2011 on Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances
- CBI arrests two Superintendents of Central Excise in a bribery case
- India Signs an Agreement and Protocol for Avoidance of Double Taxation and Prevention of Fiscal Evasion (DTAA) with Lithunia
- Procedure for Obtaining Online Approval of Central Government Under Section 297 of the Companies Act, 1956 Simpified
- Anand Sharma Restores DEPB Benefits for Cotton and Cotton Yarn
- RBI Gives Strong Signal to further Moderate Inflation and Check Inflationary Expectations by making 50 basis Points Increase in Policy repo rate
- Scrutiny inspection and investigation in all winding up cases
- Pro-active action in case of winding up petitions – GENERAL CIRCULAR NO. 54/2011
- Guidelines for RDs/ROCs in the matter of scheme of arrangement / amalgamation under section 391-394
- Ministries gear up for Parliament Session beginning on 1st August
- Club or association service- Exemption to services provided by an association of dyeing units in relation to specified project
- Loans to go costlier as RBI hikes key rates again, 11th time since Jan 2010
- First Quarter Review of Monetary Policy 2011-12 – Press Statement by Dr. D. Subbarao, Governor
- Exemption from requirement of furnishing return of income for A.Y. 2011-12 where income does not exceed Rs. 5 lakhs – Assessee has option to avail said exemption
- CBDTs Tax Collection Strategy for FY 2011-12
- MCA Simplifies procedure for obtaining online approval of Central Government u/s 297 of the Companies Act, 1956.
- ROC simplifies Simplified procedure for rectification of register of charges under section 141 of the Companies Act, 1956
- MCA simplifies procedure for obtaining confirmation of shifting of registered office from one state to another state u/s. 17 of the Companies Act, 1956
- Online incorporation of companies within 24 hours
- India to be 2nd Largest Steel Producer by 2013 – Shri Beni Prasad Verma
- India- UK Reaffirms their Commitment to Strengthen their Economic and Financial Relations
- Amends Notification No. 3/2006-Central Excise dated the 1st March,2006 thereby exempting food preparations including food preparations containing meat, falling under chapters 16 or 19 (except chapter heading 1905) which are prepared or served in a hotel from Central excise duty
- Amends Notification No. 23/2011-Central Excise dated the 24th March, 2011 thereby exempting food preparations including food preparations containing meat, falling under chapters 16 or 19 (except chapter heading 1905) which are prepared or served in a hotel from Central excise duty
- Exim Bank’s Line of Credit to the Indo – Zambia Bank Limited – A.P.(DIR Series) Circular No.06
- Exim Bank’s Line of Credit of USD 20 million to the Government of the Kingdom of Swaziland -A.P. (DIR Series) Circular No. 05
- Liquidity Adjustment Facility – Repo and Reverse Repo and Marginal Standing Facility Rates – Circular No. FMD.MOAG. No.61/01.01.01/2011-12
- Standing Liquidity Facilities for Banks and Primary Dealers – Circular No. REF.No.MPD.BC. 347/05.02.001/2011-12
- Utilising Certified Facilitation Centers (CFCs) Service for XBRL Filing Of Financial Statements From 2010-11 Onwards
- First Quarter Review of Monetary Policy 2011-12
- RBI’s Master Circular dated 1-7-2011 on Prudential Norms on Capital Adequacy – Basel I Framework
- RBI instructed banks to issues only signed Cheque Return Memos
- Exim Bank’s Line of Credit of USD 20 million to the Government of the Republic of Mozambique – A.P. (DIR SERIES) CIRCULAR NO. 4, DATED 25-07-2011
- Newly Elected President and Vice President of ICWAI
- Procedure for verification of answer books of CA Final, PCE, IPCE/ATE-Units, Examinations-May 2011 and CPT-June 2011
- Cost Accounting Standard Board invites comments on Exposure Draft – Generally Accepted Cost Accounting Principles (GACAP)
- LLPs in Revival Mode
- Empanelment Form for Observers for the CA Exam to be held in Nov-2011 and the Common Proficiency Test to be held in Dec, 2011
- DIN must to form LLP
- 15 services likely to be exempted from service tax- No Death Tax and No Service Tax on Funeral
- Amendment to Article 243 D of the Constitution of India for enhancing reservation for women in Panchayats
- P. Chidambaram Releases Book on ‘Disaster Management in India’
- ICAI – Non-Applicability of Point of Taxation (POT) Rules, 2011 and Consequential Amendments for November 2011 Examinations
- CAG’s Audit Advisory Board (AAB) Constituted
- Amendment in the Customs Act, 1962 to validate Show Cause Notices issued for demand of Customs duty
- Enactment of a new legislation in place of Benami Transactions (Prohibition) Act, 1988 – Introduction of the Benami Transactions (Prohibition ) Bill, 2011
- November 2011 CA Final, PCC, and IPCC Exams- ICAI delares details (Dates, Centers, Exam Fees , Last Date Etc.)
- Frequently asked Questions About Nuclear Power
- Inclusion in /exclusion from the Second Schedule to the RBI Act, 1934 – RRBs
- RBI’s Master Circular dated 1-7-2011 on Housing Finance
- ICAI – Advertisement for the Post of Technical Director
- Revised FAQs relating to implementation of new CAP-II (MI5-III)
- RBI’s Master Circular, dated 1-7-2011 on Rupee/Foreign Currency Export Credit & Customer Service to Exporters
- Schedule of XBRL Programme to be Organised By ICSI and Its Regional Councils and Chapters
- RBI’s Master Circular dated 1-7-2011 on Know Your Customer (KYC) norms/Anti-Money Laundering (AML) standards/Combating of Financing of Terrorism (CFT)/Obligation of banks under PMLA, 2002
- RBI’s Master Circular dated 1-7-2011 on Branch Licensing – Regional Rural Banks (RRBs)
- MCA issues List of Companies, Directors and Company Secretaries who defaulted in filing of annual accounts and return for any financial year from 2006-07 to 2009-10
- RBI’s Master Circular, dated 1-7-2011 on Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR)
- BAS – Service tax on Computer Embroidery work
- Company Law – Payment of fees to CAs in cases where funds are not permitted from Common Pool Fund
- Income Tax – Guidelines for Prior Permission under Section 281 to create a charge on the assets of Business
- ITD starts displaying information of TDS defaults on Website
- RBI’s Master Circular dated 1-7-2011 on Classification and Reporting of Frauds
- RBI’s Master Circular dated 1-7-2011 on Disclosure in Financial Statements – Notes to Accounts
- RBI’s Master Circular dated 1-7-2011 on Frauds – Classification and Reporting
- Amends Notification No. 6/2006-Central Excise, dated the 1st March, 2006 vide Notification No. 35/2011-Central Excise
- FEMA – Rupee Trade – Hedging facilities for non-resident entities
- Amends Notification No. 21/2002- Customs, dated the 1st March, 2002 vide Notification No. 65/2011-Customs
- Regarding In exercise of the powers conferred by sub-rule (1) of rule 3 of the Customs Tariff (Identification, Assessment And Collection Of Countervailing Duty On Subsidized Articles And For Determination Of Injury) Rules, 1995, and in supersession of Notification of the Government of India, in the Ministry of Finance, Department of Revenue, No. 3/95-Customs (N.T.) dated 1st January, 1995
- RBI’s Master Circular dated 1-7-2011 on Interest Rates on Advances
- RBI’s Master Circular dated 1-7-2011 on Customer Service in Banks
- RBI’s Master Circular dated 1-7-2011 on Prudential norms for classification, valuation and operation of investment portfolio by banks
- Use of Trade Mark after termination of relationship is illegal
- Jalandhar Improvement Trust Versus Vinod Kumar (SC)
- Name Availability Guidelines, 2011 and revised e-form 1A shall be implemented with effect from 24th July, 2011
- MSK Projects (I) (JV) Ltd.Versus State of Rajasthan & Anr (Supreme Court)
- Section 35AC, read with Explanation (B) thereto, of the Income-tax Act, 1961 – Eligible -projects or schemes, expenditure on – Notified eligible projects or schemes – Srinivasan Services Trust, Chennai – Corrigendum to Notification No. S.O. 1390(E), dated 14-6-2011
- Regarding Classification of Palm Stearin – Circular No.31/ 2011-Customs
- Public Provident Fund (PPF) – Investment Limit, Income tax benefit
- Maintenance of separate books of account for STP units is not a prerequisite to avail deduction under section 10A
- CUP method not suitable to benchmark royalty payment in the absence of comparable uncontrolled transactions
- Pass Percentage and Analysis of Results of CA Final Examination held in May, 2011 and CPT(Paper Pencil Mode) held on June 19, 2011, CA Final Toppers
- CBI raids 7 Customs officials of Trivandrum Airport
- An assessee cannot be said to be a defaulter in payment of advance tax if he had no liability to pay any advance tax under s 208 on any of the due dates for payment of the advance tax
- DGFT – Validity of extension for export of 6,50,000 tons of wheat products upto 31.03.2012.
- ITAT Pune -Domestic segment cannot be regarded as a comparable for the export segment
- DGFT – Government allows export of non-basmati rice at USD 400 per tn MEP
- Delhi Vat department detects Tax evasion in sale of diamonds worth Rs 5,150 cr
- Activity of ONGC for providing its staff on deputation to DGHC for a remuneration in the form of reimbursement from DGHC, is chargeable to service tax under ‘Manpower Recruitment or Supply Agency’s Service’
- Amends Notification No. 64/95-Central Excise, dated the 16th March, 1995 – Vide Notification No. 34/2011-Central Excise
- Amends Notification No. 39/96-Customs, dated the 23rd July, 1996 – Vide Notification No. 64/2011-Customs
- Amends Notification No.21/2002-Customs, dated the 1st March, 2002 vide Notification No. 63/2011-Customs
- Amends Notification No. 41/2007-Customs, dated the 19th March, 2007 Vide Notification No. 62/2011-Customs
- Interest Rates on Rupee Deposits held in Domestic, Ordinary Non-Resident (NRO) and Non-Resident (External) (NRE) Accounts – RBI’s Master Circular dated 1-7-2011,
- RBI’s Master Circular dated 1-7-2011 on Loans and Advances – Statutory and Other Restrictions
- Where assessee paid tax by way of TDS in respect of interest paid to a bank which never accrued to said bank, such tax paid was to be refunded to assessee
- Loss making companies cannot be rejected as comparables simplicitor on ground of losses but can be excluded on other comparability aspects
- Arm’s length price in case of interest on extended credit period granted to an Associated Enterprise shall be determined on the basis of USD LIBOR and not on any other currency denominated loan rate
- EPFO to seek legal view on nationwide implementation of HC order not allowing splitting of wages for calculation of PF
- Discussion Paper – FDI Policy-Rationale and Relevance of CAPS
- Penalty U/s. 271 (1)(c) can not be imposed merely for non allowance of deduction claimed by the Assessee
- Unless there is positive act on part of creditor in current year providing benefit to assessee by way of remission, outstanding credit liability cannot be held to have been remitted in favour of assessee
- India Fully Committed to Combat Money Laundering and Financing of Terrorism – FM
- Development fee is chargeable to service tax under the ‘airport service’
- Refund of 4 Per cent CVD (SAD)-Extension of time upto 15th September, 2011 for using re-credited 4 Per Cent CVD (SAD) amount in DEPB.
- Amendment to the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 20/2006-Central Excise (N.T), dated the 30th September, 2006
- Format of Form E.R.1 / E.R. 3 for monthly / Quarterly return for production and removal of goods and other relevant particulars and CENVAT credit
- Regarding Export warehousing –Extension of facility at Tijara Tehsil of Alwar District in the state of Rajasthan
- Regarding Prosecution of Directors – General Circular No.47/2011
- Waiver of approval of Central Government for payment of remuneration to professional managerial person by companies having no profits or inadequate profits
- Shri R.S. Gujral appointed Finance Secretary
- 31 Proposals of FDI Amounting to Rs. 3844.70 Crore Approved
- Result of the ISA Assessment Test held on 18th June, 2011 declared
- RBI’s Master Circular dated 1-7-2011 on Para-banking Activities
- RBI’s Master Circular, dated 1-7-2011 on Lending to Micro, Small & Medium Enterprises (MSME) Sector
- RBI’s Master Circular dated 1-7-2011 on Bank Finance to Non-Banking Financial Companies (NBFCs)
- RBI’s Master Circular, dated 1-7-2011 on Export Credit Refinance Facility – Circular No. MPD. NO. 345/07.01.279/2011-12, Dated 01-07-2011
- Clarification on Point of taxation Rules in respect of ‘Completion of service’
- Canada Tax Court Explains Tax Avoidance and General Anti Avoidance Rule (GAAR)
- Despite Tax Avoidance, 100 Per cent Depreciation on Sale and Lease Back Allowable – Delhi High Court
- Transferred Officers not Relieved – CBEC viewed non-compliance of its orders very seriously
- Dr. M.Virappa Moily gives away ICWAI 8th National Awards for excellence in Cost Management 2010
- Copyright Board Reconstituted
- Amendment in Schedule XIII of the Companies Act 1956 regarding approval of Central Government for a subsidiary of a listed company
- FAQ on Exemption from filing of Income-tax Return for Salaried having total income not exceeding Rs. 5,00,000
- RBI’s Master Circular, dated 1-7-2011 on Credit Card Operations of banks
- Regarding continuation of anti-dumping duty on 1,1,1,2 – tetrafluoroethane or 134a
- Regarding Handling of Cargo in Customs Areas Regulations, 2009
- SEBI CIR/MRD/DP/ 10 /2011 -Establishment of Connectivity with both depositories NSDL and CDSL – Companies eligible for shifting from Trade for Trade Settlement (TFTS) to normal Rolling Settlement
- CBI raids Paramount Group office, residence of airline MD in connection with non-repayment of a large amount of bank loans
- New Companies Bill to come up in monsoon session – Corporate Affairs Minister
- Supreme Court Recalls its Directions to MoD in Pushpavanti Case
- Hasan Ali Khan stashed $800 million in banks in countries like U.S., Switzerland and Singapore
- Import of Sensitive Items During April-March 2011
- Determining the characterisation of an entity before the selection of most appropriate method is critical
- When a payment is compensatory in nature and not related to any deposit/debt/loan, then such a payment is out of ambits of provisions of section 194A
- Payment made for online banner advertisement on the portal of a foreign company not taxable as royalty
- As a goodwill gesture govt allows duty-free import of vegetable, fruits from Dhaka
- Govt plan to cover more services under service tax net
- 300 Political Parties not Filed IT Return, EC asks CBDT to issue notices
- Black money – Indians had deposits of about $2.5 billion in swiss banks
- Notification Amending Form No. 1A vide Notification Dated 14th July 2011
- Activity of ‘assembling’ amounts to manufacturing for relief u/s 80IB, employment of temporary workers enough to claim relief
- Lease rentals earned by a developer of Software Technology Park should be treated as business income
- Essential to prove involvement in physical activities of erection and commissioning of power project to be taxed under special provisions
- India Enters into Social Security Agreement with the French Republic
- Supply of spares used in prospecting for, or extraction or production of mineral oils in turnkey contract – whether eligible for presumptive taxation
- Payment made under non-compete agreement is capital expenditure and not result into acquisition of any intangible asset and could not be eligible for depreciation allowance and could not be claimed as deferred revenue expenditure
- Transfer of a ‘specific sale contract with a client’ is covered under the expression ‘right to manufacture, produce or process any article or thing’ under Section 55(2)(a) of the Income-tax Act, 1961 and hence taxable as capital gains
- Assessee not entitled to waiver of interest under s 234B and 234C on account of the non-adjustment of seized cash by the department against the tax liability
- Cooperative bank entitled to claim exemption u/s. 80P(2)(a)(i) in respect of income derived out of investments made from the voluntary reserves
- RBI’s Master Circular dated 1-7-2011 on instructions relating to deposits held in FCNR(B) Accounts
- RBI’s Master Circular, dated 1-7-2011 on Exposure Norms
- RBI’s Master Circular dated 1-7-2011 on SHG-Bank Linkage Programme
- RBI’s Master Circular dated 1-7-2011 on Collection of Direct Taxes- OLTAS
- Companies showing abnormal number of shareholders in e-Form 20B as per MCA data
- If the company has undertaken certain activities as mentioned in its original objects, then it is sufficient to conclude that the business has commenced and that the expenditure incurred by the assessee is allowable
- Mere non-filing of an appeal against the additions made by the AO and voluntary surrender of any amount to buy peace of mind alone cannot constitute sufficient grounds for the imposition of a concealment penalty
- Merely because assessee has not claimed refund in return form itself, it cannot be said that assessee not entitled to refund
- Discount offered by cellular companies to distributors on SIM cards and recharge coupons is in the nature of ‘commission’ on which tax is required to be withheld
- Grounds raising new questions which are essentially questions of fact cannot be permitted to be raised before high court and the Revenue in terms of sub-section 4 of Section 260A
- If assessee show that there was reasonable cause for taking money in cash, and amount did not also represent unaccounted money either of assessee or of persons from whom they were taken, normally it is sufficient to hold that penalty under section 271D is not justified
- Technical proprietary information and pre-qualification rights obtained by assessee cannot be treated as goodwill and assessee is entitled to depreciation on these two items of intangible assets
- MVAT – VAT Cir – 11T of 2011 – Non Applicablity of Notification No. CST-2002/CR-30/Taxation-2, dated 1st May 2002 u/s 8(5) of Central Sales Tax Act, 1956 -in respect of Motor Vehicle
- Central Board of Trustees of EPFO Appoints 4 Fund Managers
- 150 years of Income Tax in India – President and FM’s Speech, Download e-Brochure on Journey of Income Tax across three Centuries
- Minimum Export Price of Onions – Notification No 59 (RE – 2010)/2009-2014
- RBI- Branch Authorization Policy – Opening of branches in unbanked rural centres
- Regularization of Liaison / Branch Offices of foreign entities established during the pre-FEMA period
- Amends Notification No. 36/2001 – Customs (N.T.), dated, the 3rd August, 2001 vide Notification No. 47/2011-CUSTOMS (N. T.)
- Non-Receipt of ICAI Journal-Helpline
- Government’s Thrust on Upgrading and Induction of New Technology in the Services Rendered by it Department – FM
- Symbol Encoded in Unicode Standard and National Standard ISCII
- Anand Sharma to Recommend Duty Draw Back Relief on Cotton Yarn Exports
- Colourable Device and Gains Taxable In USA Parent’s Hands , Sale of shares of foreign company taxable if object is to acquire the Indian assets
- ICSI issues Guidelines for Peer Review of Attestation Services by Practising Company Secretaries
- ICAI extends Common Proficiency Course (CPC) Registration Date to 5th October, 2011 foe Exam to be held in December, 2011
- ICSI extends last date for payment of Annual Membership Fee for 2011-12 to 31st August, 2011
- ICAI announces Date for CA Final, PCC, IPCC exams to be held in Nov 2011
- Transfers and Postings Of Deputy / Assistant Commissioners of Income-tax vide CBDT Order No 122 of 2011 dated 15.7.2011
- Govt to implement Scheme of Assistance for Prevention of Alcoholism and Substance (Drugs) Abuse
- India to Host 14th Annual Meeting of Asia/Pacific Group on Money Laundering at Kochi From 18th to 22nd July, 2011
- 3 New Judges Appointed in the Bombay High Court
- Committee recommends tax incentives to revamp Export Oriented Unit (EOU) scheme
- SC directs Sahara to approach SAT against SEBI order directing to return the money collected from investors for an OFCD scheme
- Competition Appellate Tribunal (Procedure) Regulations, 2011 – NOTIFICATION F. NO. 9/22/2010-CS, DATED 15-07-2011
- Empanelment with UCO Bank for Concurrent Audit for CAs – Last Date 31.07.2011
- DGFT – Extension of period for document submission, scrutiny and issue of registration certificate for export of cotton [ITC (HS) Code 5201 or 5203]
- Exempts specified goods from customs duty for sale in Kalaichar and Balat border haats at Indo-Bangladesh border- Notification No. 60/2011-Customs
- NBFCs – RBI’s Master Circular, dated 1-7-2011 on Miscellaneous Non-Banking Companies (Reserve Bank) Directions, 1977
- RBI’s Master Circular dated, 1-7-2011 on Fair Practices Code
- RBI’s Master Circular dated 1-7-2011 on Corporate Governance
- RBI’s Master Circular dated 1-7-2011 on Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007
- Hero Group paid Rs 811 crore as capital gains tax – CBDT
- SC asks CBDT and CBEC to draft uniform policy on appeals in lost cases
- Despite Less than 30 day Holding, Share Gain is Short Term Capital Gain (STCG) and not Business Profit
- Government Together With RBI to Take all Appropriate Steps to Reduce Inflation to a Comfortable Level – FM
- It’s Time to File Your Tax Returns Now
- Draft Public Companies (Terms of Issue of debenture and of raising of loans with option to convert such debentures or loans in to shares) Rules, 2011
- Company Law – S. 397/398 -CLB Granting Injunctions Preventing AGMs ETC.?
- Bank bound to inform consumer before blocking credit card
- The AO is bound to furnish the reasons for the issuance of the notice under s 148 within a reasonable time so that the assessee can file objections to the issuance of the notice
- Recording of satisfaction by the AO is sine qua non before the issuance of notice under s 153C
- Tax sops withdrawal from SEZs to impact exports – Assocham
- Transfers and Postings of Commissioners / Directors of Income-tax – Order No 119 of 2011
- Amends Notification No.21/2002-Customs, dated the 1st March, 2002 vide Notification No. 59/2011-Customs
- SARFAESI – Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines and Directions, 2003
- SARFAESI – Notification on Change in or Take Over of the Management of the Business of the Borrower by Securitisation Companies and Reconstruction Companies (Reserve Bank)
- SARFAESI – RBI’s Master Circular dated 1-7-2011 on Directions/instructions issued to the Securitisation Companies/Reconstruction Companies
- Income-tax authorities – Jurisdiction of – Amendment in Notification No. S.O. 732(E), dated 31-7-2001 vide NOTIFICATION NO. 38/2011 – INCOME TAX
- NBFCs – Miscellaneous Non-Banking Companies (Reserve Bank) Directions, 1977
- Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007
- RBI’s Master Circular dated 1-7-2011 on Opening of Branch-Subsidiary-Joint Venture-Representative office or Undertaking Investment Abroad by NBFCs
- RBI’s Master Circular dated 1-7-2011 on Mortgage Guarantee Companies Investment (Reserve Bank) Directions, 2008
- NBFCs – RBI’s Master Circular dated 1-7-2011 on Exemptions from the provisions of RBI Act, 1934
- NBFCs – RBI’s Master Circular dated 1-7-2011 on Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998
- NBFCs : RBI’s Master Circular dated 1-7-2011 on ‘Know Your Customer’ (KYC) Guidelines
- NBFCs – RBI’s Master Circular dated 1-7-2011 on Mortgage Guarantee Companies Prudential Norms (Reserve Bank) Directions, 2008
- NBFCs – RBI’s Master Circular dated 1-7-2011 on Miscellaneous Instructions to NBFC-ND-SI
- SARFAESI – The Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines and Directions, 2003
- Whether, merely because Mumbai office is also involved in the business, the Hyderabad Unit cannot claim Sec 80IB benefits for manufacture of jewellery through various karigars spread across various locations?
- If a business liability is definite, the deduction should be allowed, although the liability may be quantified and discharged at a future date
- No addition can be made under s 28(iv) in the absence of any business or profession relationships.
- Commission received by a foreign company for assistance in arranging cargo transportation taxable in India on account of ‘business connection’
- Transfer pricing – Operating profit of different STP units rendering identical services to related parties should not be considered on a stand-alone basis for computing ALP
- Invocation of s 263 unjustified where Commissioner intended to substitute his own view in place of that of the Assessing Officer without pointing out as to how the action of the Assessing Officer is erroneous in law or on facts
- Transfer Pricing – As other income of the assessee is excluded from the net profit, the other income of comparable companies should also be excluded from their net profit and the full data of the comparables should also be provided to the assessee
- Expression ‘contractor’ does not include within its fold a subcontractor carrying out any work in pursuance of a subcontract with a sub subcontractor in AY 2006–2007
- Service tax is leviable on Flying Training School & Aircraft Maintenance Engineering Institutes
- CBDT allows Mahindra Satyam to file revised returns
- Terms of Reference of The Task Force on Direct Transfer of Subsidies Extended
- CBI arrests an Inspector of Central Excise in a bribery case
- Salman Khursheed Assumes Charge as Law & Justice Minister
- Result of CA final and CPT are likely to be declared on Tuesday,the 19th July, 2011
- ICAI Conclave with Trade Officials of Foreign Missions/Embassies
- Result of the ISA Assessment Test held on 18th June, 2011 is likely to be declared tentatively on 19th July, 2011
- Moily Says Corporate governance, new companies act top priorities
- Modification of SIONs A-2913 and A-263 under Chemical & Allied Products Group
- Think twice before choosing Lump sum payment of tax in Works contracts under PVAT Act
- RBI’s Master Circular dated 1-7-2011 on Non-Banking Financial Companies Auditor’s Report (Reserve Bank) Directions, 2008
- RBI’s Master Circular dated 1-7-2011 on Allied activities – entry into insurance business, issue of credit card and marketing and distribution of certain products
- RBI’s Master Circular dated 1-7-2011 on Guidelines for Issue of Commercial Paper
- RBI’s Master Circular dated 1-7-2011 on Future approach towards monitoring of frauds in NBFCs
- RBI’s Master Circular dated 1-7-2011 on Guidelines for Issue of Certificates of Deposit
- RBI’s Master Circular dated 1-7-2011 on Non-Banking Financial (Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007
- RBI’s Master Circular dated 1-7-2011 on Returns to be submitted by NBFCs
- RBI’S Master Circular dated 1-7-2011 on Regulatory Framework for Core Investment Companies (CICs)
- RBI’s Master Circular dated 1-7-2011 on Mortgage Guarantee Company (Reserve Bank) Guidelines, 2008
- RBI’s Master Circular dated 1-7-2011 on Miscellaneous Instructions to All Non-Banking Financial Companies
- RBI’s Master Circular dated 1-7-2011 on Nomination facility in Relief / Savings Bonds
- RBI’s Master Circular dated 1-7-2011 on Appointment & delisting of Brokers and Payment of Brokerage on Relief/Savings Bonds
- RBI – Lending to Priority Sector –Reporting Data on Priority Sector Advances
- SARFAESI – RBI’s Master Circular dated 1-7-2011 on Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines and Directions, 2003
- Retail Electronic Payment Systems –NEFT / NECS / RECS / ECS – Levy of Processing Charges- Collection & Settlement of Inter-bank Charges
- Insurance – Servicing of Health Insurance Schemes offered by Bodies other than Insurance Companies – Draft Circular
- Insurance – Submission of Business Information related to Policies, premium, claims and Offices of General Insurance Companies
- Disclosure of undisclosed income in a revised return as a matter of purchasing peace would not render the penalty imposed under s 271(1)(c) unsustainable in absence of a satisfactory explanation with regard to its non-disclosure in the original return
- Assessee liable to deduct TDS under s 194C at 2 per cent on payment made for hiring the studio and utilising the dubbing facilities, which included service through the studio staff
- Carry forward of unabsorbed depreciation, as per s 32(2), is automatic and the assessee not required to fulfil any condition so as to be entitled to obtain such carry forward
- Amount of brought business loss and unabsorbed depreciation is not required to be first set-off before computing the deduction allowable under s 80HHC for the purpose of computing book profits, matter remitted to make calculation under s 80HHC
- Provisions of s 79 are not applicable to company originally registered as a private company and then became a public company by virtue of the provisions of s 3(iv)(c) of the Companies Act in which public are substantially interested within the meaning of s 2(18) of the Income tax Act, 1961
- Deduction under Section 80-IA(4) available even to contractor who merely develops but does not operate & maintain the infrastructure facility
- If the prosecution proves its case on basis of evidence and the same is also supported by the implied admission of the accused, the conviction of the accused under s 276C(1), 277 and 278 is not liable to be interfered with on the ground that the return did not bear his signature and was not filed by him
- Govt planning to relax exit norms for not-for-profit companies
- Digital Signature Certificate made mandatory w.e.f 1st July 2011 for Firms and Individuals whose accounts are required to be audited u/s 44AB
- Companies (Central Government’s) General Rules & Forms (Amendment) Rules,2011
- Find status of assessee based on PAN
- Circulation of Audited Accounts for the Year ended 2010-11 and Report of the Council
- Guidelines for Declaring Financial Institution as Public Financial Institutions Under Section 4a of The Companies Act,1956
- Accounting regulator ICAI to submit suggestions on black money by August end
- SC Decision on Limitation of Companies Act in case of oppression and mismanagement
- Clarification regarding admission of Limited Liability Partnerships as members of Stock Exchanges
- Govt allows exports of one million tonnes of basmati rice
- Provisions Governing Buy-back of Shares / Securities under the Companies Act, 1956
- Chnages in Cabinet Ministers and Ministers of State
- ICSI – Suggestions for Election Reforms and Amendment in CS Regulations
- ICSI – How to Become Life Member of CSBF
- Nabard Should Focus on Promoting Integrated Rural Development and Securing Sustainable Rural Prosperity – FM
- Manager of UCO Bank and seven others sentenced in a corruption case
- SARFAESI – RBI’s Master Circular dated 1-7-2011 on Change in or Take Over of the Management of the Business of the Borrower by Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines, 2010
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Bhagwan Manaweer Viklang Sahayata Samiti, Rajasthan – Amendment in Notification No. S.O.739(E),dated 10-9-1999
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Paragon Charitable Trust, Mumbai
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Adhiparasakthi Charitable, Medical, Educational and Cultural Trust, Tamilnadu
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Jain Social Federation’s Anandrishiji Hospital & Medical Research Centre, Maharashtra
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Bharat Sevashram Sangha, Kolkata
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Anand Isher Educational Charitable Trust, Punjab
- PPPAC Approves PPP Projects Worth Rs. 9773.85 Crores
- FEMA – RBI’s Master Circular dated 1-7-2011 on Foreign Investment in India
- FEMA – RBI’s Master Circular dated 1-7-2011 on Money Transfer Service Scheme
- Regarding Collection of Anti-dumping duty beyond the validity period- Circular No. 28/2011-Customs
- Regarding definitive anti dumping duty on STPP originating in, or exported from, People’s Republic of China- Notification No.58 /2011-Customs
- Amends Notification No.148/1994-Customs, dated the 13th July, 1994 vide
- Income Tax Dept looks into Videocon-Datacom deal tax implications
- RBI fines 48 banks for violation of KYC, AML norms in six months
- IT Commissioner, CA held for accepting bribe
- MVAT – Amendment to VAT Notification dated 5-11-2009 – Refund to Diplomatic Authorities
- 80,000 companies in Northern India are ‘defaulters’ – MCA
- Now e-ticketing through SMS
- First MCA-ICSI Web Seminar On XBRL On 11th July, 2011
- Review of Entry Requirements for Chartered Accountancy Courses
- SEBI (Bankers to an issue) (Amendment) Regulations, 2011
- SEBI (Underwriters) (Amendment) Regulations, 2011
- SEBI (Credit Rating Agencies) (Amendment) Regulations, 2011
- SEBI (Debenture Trustees) (Amendment) Regulations, 2011
- SEBI (Registrars to an Issue and Share Transfer Agents) (Amendment) Regulations, 2011
- SEBI (Merchant Bankers) (Amendment) Regulations, 2011
- SEBI (Depositories and Participants (Amendment) Regulations, 2011
- Best Judgment Assessment – A Critical Analysis
- Recent Initiatives taken by the Ministry of Corporate Affairs
- CBI arrests an Income Tax Officer and a Chartered Accountant in a bribery case
- Income Tax refunds pull down net direct tax collections by 17%
- CBDT order on Mahindra Satyam won’t take effect for 2 weeks
- Public Notifications / Decisions Issued by DGFT for the Month of June 2011
- Public Comments and Stakeholders’ Views Invited on the Draft Micro Finance Institutions (Development & Regulation) Bill, 2011
- Finance Minister Urges Public Sector Banks (PSBs) and Financial Institutions (FIs) to Achieve their Targets and Meet Social Commitments
- ROC – Name Availability Guidelines, 2011
- Integration of Director’s Identification Number (DIN) issued under Companies Act, 1956 with Designated Partnership Identification Number (DPIN) issued under Limited Liability Partnership (LLP) Act, 2008
- Filing of Balance Sheet and Profit and Loss Account in eXtensible Business Reporting Language (XBRL) mode
- Transfer Pricing – Disallowance of costs on ground that associated enterprises also benefited not permissible
- Export Grows 45.7% in the First Quarter at US $ 79 Billion – Commerce Secretary
- New guideline to strengthen and enable the Indian corporate sector to evolve into a global leader in responsible business- Murli Deora
- Allotment of Coal Blocks in Recent Past – a Clarification
- Form 7 and 10 for application for DIN and Intimation of Changes in Forming LLP
- Finance Minister Releases New Series of Coins in the Denomination of 50 Paise and Rupees 1,2,5 And 10
- E-Ticket on Mobile Phone now Possible through new Web Portal Facilitating Travel by Merely Displaying SMS Without Ticket Printout
- ICWAI – President’s Message July 2011
- 2G Scam – CBI’s stand on Anil Ambani questioned
- New website for micro, small and medium enterprises – NSIC
- Seeks to withdraw anti-dumping duty on imports of Hydrofluoric Acid originating in, or exported from, China PR – Notification No. 57 /2011-Customs
- VAT Notification for Reduction in tax rates of Diesel and PDS Kerosene
- Amends Notification No. 62/1994-Customs (N. T.) dated the 21st November, 1994 – Notification No. 46/2011-CUSTOMS (N. T.)
- RBI’s Master Circular dated 1-7-2011 on Memorandum of Instructions governing money changing activities
- Amends Notification No. 62/1994-Customs (N. T.) dated the 21st November, 1994 vide Notification No. 45/2011 – Customs (N.T.)
- RBI’s Master Circular dated 1-7-2011 on Risk Management and Inter-Bank Dealings
- RBI’S Master Circular dated 1-7-2011 on Direct Investment by Residents in Joint Venture (JV)/Wholly Owned Subsidiary (WOS) Abroad
- RBI’s Master Circular dated 1-7-2011 on export of goods and services
- RBI’s Master Circular dated 1-7-2011 on External Commercial Borrowings and Trade Credits
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Geetanjali University Trust, Rajasthan – Amendment in Notification No. S.O.2370 (E), dated 3-10-2008
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Shri Vedmata Gayatri Trust, Haridwar
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Srinivasan Services Trust, Chennai – Amendment in Notification No. S.O.267(E),dated 23-3-2000
- ERP Software expenditure allowable as revenue expenditure – Bombay HC
- E-filing of Income Tax return in respect of companies under liquidation
- Assigns the function of proper officer to DRI, Preventive Commissionerates, DGCEI and Central excise officers for the purposes of Section 17 and 28 of the Customs Act, 1962
- Amendment of the Inter-State Migrant Workmen (Regulation of Employment and Conditions of Service) Act, 1979
- Company Law – HC dismisses Petition filed under section 397 and 398 of the Companies Act 1956 as Cause of action no longer survives
- Gross direct tax collections in first quarter of 2011-12 up by 23.91 percent
- Transactions in Government Securities –Extension of DvP III facility to Gilt Account Holders
- The Micro Finance Institutions(Development and Regulation) Bill, 2011
- Infrastructure Lending and Financial Inclusion high on Agenda
- Invitation of Expression of Interest (EOI) for developing XBRL Taxonomies
- RBI’S Master Circular dated 1-7-2011 on Compounding of Contraventions under FEMA, 1999
- FEMA – RBI’s Master Circular dated 1-7-2011 on import of goods and services
- FEMA – RBI’s Master Circular dated 1-7-2011 on Non-Resident Ordinary rupee (NRO) account
- Foreign Contribution (Regulation) Act, 2010 not to apply to all bodies constituted or established by or under a Central Act or a State Act requiring to have their accounts compulsorily audited by the Comptroller and Auditor General of India
- Policy Guidelines for expansion of FM Radio Broadcasting services through private agencies (Phase-Ill)
- RBI’S Master Circular dated 1-7-2011 on Memorandum of Instructions for Opening and Maintenance of Rupee/Foreign Currency Vostro Accounts of Non-resident Exchange Houses
- RBI’s Master Circular dated 1-7-2011 on acquisition and transfer of immovable property in India by NRIs/PIOs/foreign nationals of non-Indian origin
- RBI’s Master Circular dated 1-7-2011 on establishment of liaison/branch/project offices in India by foreign entities
- Master Circular on Remittance Facilities for Non-Resident Indians/Persons of Indian Origin/Foreign Nationals
- FEMA – RBI’s Master Circular dated 1-7-2011 on Miscellaneous Remittances from India – Facilities for Residents
- Amendment/modification of SION, J-373 – DGFT Public Notice No. 63/(RE-2010)/2009-2014
- MODIFICATION OF SION C-1058 under Engineering Product Group – Public Notice No. 62/(RE-2010)2009-2014
- Insurance – Reporting Formats under clause 3.2 of Master Circular 2010 on AML/CFT guidelines
- Insurance – Prevention of Money Laundering (Maintenance of Records of the Nature and Value of Transactions, the Procedure and Manner of Maintaining and Time for Furnishing Information and Verification and Maintenance of Records of the Identity of the Clients of the Banking Companies, Financial Institutions and Intermediaries) Third Amendment Rules, 2010
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Gandhigram Trust, Tamilnadu -Amendment in Notification No. S.O.1295(E),dated 4-6-2008
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – National Association for the Blind, Mumbai – Amendment in Notification No. S.O.1111(E),dated 8-8-2005
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Dr. M.L. Dhawale Memorial Trust, Mumbai
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Pratham Delhi Education Initiative, New Delhi
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Disha Charitable Trust, Gujarat
- RBI Master Circular on Wilful Defaulters
- No disallowance under s 40(a)(ia) can be made for the non-deduction of tax under s 194C in absence of a continuous contract, oral or written
- If the main intention is to exploit the immovable property by way of complex commercial activities, in that event, it must be held as business income
- Frequently Asked Questions (FAQs) on Fast Track Exit Mode
- Taxmen Now Eye Jewellery Purchases
- Small Scale Unit (SSI) and Clubbing of Turnover
- Constitution of Senior and Junior Standing Counsels for handling Indirect Tax Cases before HC
- Extension of terminal date of basic custom duty exemption on raw sugar and white/refined sugar
- Master Circular – Lending To Priority Sector
- CBI registers a case against the then Additional Central Provident Fund Commissioner and eight officers of EPFO
- RBI Releases Draft Guidelines on Equity Investments by scheduled commercial banks in subsidiaries and other companies
- FM Says Major Challenge in Short Term is Inflation and Government Takes Various Steps to Contain it
- Limited Liability Partnership Rules, 2009 (Amendment) Rules, 2011
- Companies Director Identification Number (Third Amendment) Rules, 2011
- Spice Communications – HC rejects Application filed under rule 6 and 9 of the Companies Rule, 1959
- VAT department of Government of Delhi confiscate 56 trucks for evading taxes
- Govt extends duty-free sugar import deadline till August 31
- Allocation of quantities of cotton for export in terms of Public Notice No.55 dated 17.06.2011
- CIBIL launches Credit Information Reports for companies
- Petition filed u/s 433(a)/439 of Comp. Act,1956 dismissed for unjustified ground for Voluntary Winding
- RBI Master Circular- Resource Raising Norms for Financial Institutions
- RBI Master Circular – Guidelines For Relief Measures By Banks In Areas Affected By Natural Calamities
- RBI Master Circular – Guarantees and Co-acceptances
- RBI Master Circular on Inspection and Audit Systems in Primary (Urban) Co-operative Banks
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Friends of the Tribal Society, Kolkatta
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – SEWA-Rural (Society for Education, Welfare and Action-rural), Bharuch – Amendment in Notification No S.O.228(E),dated 4-6-2008
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Mother Foundation Charitable Trust, Navi Mumbai
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Ramakrishna Vivekananda Mission, West Bengal
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Mahila Mandal Barmer Agor, Rajasthan
- ection 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Reaching Hand, Bangalore
- All about service tax provisions Related to Lvey, Registration, Payment, Valuation , Penalty, Return and Recovery of taxes
- Govt to come out with negative list of service tax soon
- Assistant Commissioner of Income Tax sentenced to undergo three years imprisonment with a fine of Rs.1.50 Lacs in a bribery case
- Empanelment with Chhattisgarh Rural Road Development Agency of CA Firms for Internal & External Audit
- ICAI sets up expert group on black money to assist govt
- Sales Tax department raids 37 firms in Mumbai – Claims to unearthed hawala transactions worth around Rs 6,500 crore
- Supreme Court appoints Special Investigation Team (SIT) headed by ex-Apex Court judge to probe black money issue
- Appellate Authority (Procedure) Rules 2011
- De Nora India Limited Versus Union Of India And Ors- Petition was allowed as per clause 6(III) and the order set aside
- A.O. can include transactions which he treats as fictitious in block Assessment instead of regular Assessment despite the fact that same were reflected in the return
- Post offices to offer core banking solution by next year
- Applicability of Circular No. 845/03/2006-CX dated 1.02.2007 on textile products falling under Chapter 55 – regarding
- Car expenses incurred for the personal use of directors of the company in accordance with the terms and conditions of service were allowable as business expenditure
- Statistics in the World of RBI – Duvvuri Subbarao
- DTAA Does Not Protect Tax Evaders – SC strongly disapproved the stand taken by the Government that the names of the tax evaders was a ‘secret’ and could not be revealed under India-Germany DTAA
- Public Comments and Stakeholders’ Views Invited on the Report Submitted by Committee to Review Implementation of Informal Sector Pension
- Investment by banks in liquid/short term debt schemes of mutual funds
- Order passed under section 263 becomes ‘infructuous’ if effect order not passed in reasonable time
- Government of India and World Bank Sign US$200 million Agreement to Strengthen Local Government System in Kerala
- Interim Report of the task Force on Direct Transfer of Subsidies on LPG, Petroleum and Kerosene Submitted to Finance Minister
- Service tax evasion up three-times to Rs 1651 cr in FY12 so far
- Modification of Client Codes of Non-institutional Trades Executed on Stock Exchanges (All Segments) – SEBI CIR/DNPD/6/2011. Dated- July 05, 2011
- Continuation of DEPB scheme for three months beyond 30.06.2011 i.e. upto 30.09.2011–Reg
- ICAI – roup on Notification of Benefits of Registered OCI u/s 7B(1) of Citizenship Act, 1955
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Prayas Social Welfare Society, Faridabad
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – The Purkal Development Society, Uttarakhand
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Vidyaniketan Sanskritik, Samajik, Shikshanik, Bahuuddeshiya Sevabhavi Sanstha, Maharashtra
- ICAI to conduct special exam for IPCE student whose Answer book was reported to be missing
- Notifies Customs Tariff (Determination of Origin of Goods Under the Preferential Trade Agreement Between the Governments of the Republic of India and Malaysia) Rules, 2011
- Import of hazardous waste under Hazardous Waste (Management, Handling and Transboundary) Rules, 2008
- Related to exemption of duty on import of Naphtha imported by M/s Haldia Petrochemicals Limited(HPL), for use in the manufacture of specified polymers
- Provides tariff concession to specified goods imported from Malaysia under India-Malaysia CECA – Notification No. 53/2011-Customs
- Redemption of Foreign Currency Convertible Bonds (FCCBs) – A.P. (DIR Series) Circular No.01
- RBI penalises Citibank N.A. for contravention of various guidelines and instructions relating to Know Your Bank (KYC)/Anti Money Laundering (AML) issued by RBI
- HC dismissed the appeal with cost on the question of Forzid Registered of Trade Mark
- RoC probing affairs of Speak Asia, to submit report by July 10
- All Party Resolution on Lokpal Bill and Statement by Shri P. Chidambaram at GoM Briefing on Lokpal Bill
- Committee Constituted to Review Role, Functioning and Structure of CEIB Submits its Report to Finance Minister
- FDI Equity Inflows Touches US $ 4.664 Billion for Month of May 2011, Second highest FDI Equity Inflow Received in any Month for the Last Eleven Financial Years
- No decision on lowering GDP projection yet – FM
- Heat on tax havens – FDI from Mauritius, Cyprus drops
- EOI for hiring KM partner for MCA 21
- Repayment of 11.50 % loan, 2011 on August 5, 2011 and Repayment of Government of India Floating Rate Bonds, 2011 on August 8, 2011
- Shri G. Padmanabhan takes charge as New ED at RBI and Shri Harun Rashid Khan assumes charge as RBI Deputy Governor
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Swa-Roopwardhinee, Maharashtra
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Iskcon Food Relief Foundation, Mumbai – Amendment in Notification No. S.O.708(E), dated 25-5-2005
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – CANSUPPORT,New Delhi
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – National Centre for Adolescents by Urivi Vikram Charitable Trust, New Delhi
- ICAI Convocation (I) – 2011
- Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – SOSVA Training & Promotion Institute, Pune
- All about service tax on Restaurant Service
- Service Tax on Hotel, Inn, Club and Guest House Service
- ICAI accounting format for parties to ensure transparency
- Decision on FDI in multi-brand retail likely in July
- Govt streamlines FDI proposals’ filing for approval
- Mutual funds may face Sebi fury over casual voting
- Major PSU banks may raise lending rates soon
- Facebook may launch Skype-powered video chat
- Assessee entitled to deduction u/s 10A on conversion of existing DTA unit into STP unit
- Exemption under section 54F and purchase of share of husband in plot
- Payment for use of disk space is not royalty
- If defects in Form 15H are curable then AO to provide opportunity to the Assessee before making any disallowance for non deduction of TDS
- Whether in the case of Government securities, interest accrues on day to day basis or only on the coupon dates?
- Pre-operative expenses and registration fee paid to SEBI are allowable as intangible asset and assessee can claim depreciation on the same
- Whether when the title of the assessee on the impugned land is not clear, income arising from transfer of such land is to be treated as capital gain or income from other sources?
- For making additions, FIR is contemporaneous evidence and the contents of the same cannot be ignored in the light of self-serving documents
- Where no proof of gifts received on surrender of tenancy rights penalty imposable u/s. 271(1)(c)
- Top Law Colleges in India – Can the legal profession in India embrace all this young talent?
- The assessee entitled to exemption under s 54F on investment of net consideration from transfer of depreciable asset under Capital Gains Deposit Account Scheme
- Retrospective or prospective applicability of a provision cannot be decided simply on the basis of the view taken by CBDT ignoring the plain statutory language
- No Tax on on transfer of shares of Indian subsidiary to Singapore subsidiary without consideration on account of reorganisation by American company
- Once the refund becomes due, the interest is payable as per the provisions of section 244A of the Income Tax Act, 1961
- Mere making of a claim, which is not sustainable in law, by itself, will not amount to furnishing inaccurate particulars
- Differences between IFRS AND Ind AS
- Amends Notification No. 36/2001 – Customs (N.T.), dated, the 3rd August, 2001 -
- Chartered Accountant gets 7-yr RI for forging I-T returns
- Indian Bank Request for Proposal for Information Systems Audit of Core Banking / Net Banking / Mobile Banking / ATM / Data Centre / D R Site / Networking Infrastructure and Other Integrated systems
- No disallowance can be made u/s. 14A if assessee has no tax-free income
- Ambiguous tax treaties could hit FDI inflows – Ruia
- FAQs on Companies (Cost Audit Report) Rules, 2011
- FAQs on Companies (Cost Accounting Records) Rules, 2011
- Vodafone pays over USD 400 mn more to buy Essar’s 33 per cent stake
- Have powers to go into 2G, profit-sharing in petroleum – CAG
- Housing prices fall by up to 15 Per cent in Jan-Mar 2011
- BSE hopes to kickstart SME exchange Sept onwards
- Sales tax official suspended for taking bribe
- TCS has not received any tax scrutiny notice – Ratan Tata
- Company Law – Amendment in Notification No S.O. 1329(E) dated 8th May,1978 and last amended by S.O. 143(E) dated 14.1.2009
- Special Examination for Members of Institutions with whom ICAI had entered into MRA/MOU
- Firm or individual/HUF covered under section 44AB are mandatorily required to file ITR-5 or ITR-4 electronically using digital signature
- Things People should know about Employees Provident Fund
- 63rd foundation day of the Institute of Chartered Accountants of India (ICAI)
- RBI issues Master Circulars as amended up to 30th June 2011
- Challenges for Next Generation Banking
- RBI – Sectoral Deployment of Bank Credit – May 2011
- The monetary limit provided by Board Circular dated 27 March 2000 applies even to old references which are still pending and are undecided
- Validity of charge created against the property by mortgaging the property in favour of financial institutions by the borrower Assessee during pendency of any of the proceedings under the Income-tax Act, 1961
- Payment for advisory services and opinions for improvement of existing facilities in the hotels for meeting international standards would not fall within ambit of ‘fees for included services’ under India USA Treaty
- Instructions Regarding issues relating to Customs clearance at International Airports in India
- Prescribes simplified form for quarterly return of excisable goods cleared @ 1% Excise duty
- Carve Outs provided in Ind AS
- Cost Audit Order dated 30th June 2011 in modification of Order dated 3rd May 2011
- India’s Foreign Trade – May, 2011
- Liberalise FDI policy in financial services sector – US
- New Law for the Rights of Persons with Disabilities
- Report fraud cases of Rs 1 cr and above to CBI – RBI to banks
- Conditions and modalities for registration of contracts of cotton waste including yarn waste and garneted stock [ITC(HS) Code 5202] with DGFT
- Clarification regarding import of Fuel under Advance Authorisation / DFIA Scheme
- Exemption for export of cotton waste including yarn waste and garneted stock [ITC (HS) Code 5202] from the quantity restriction on export of cotton during Cotton Season, 2010-11
- RBI asks banks to rotate staff to check loan fraud
- DGFT- Trade in Border Haats across the border at Meghalaya between Bangladesh and India
- RBI allows issuing equities against capital good imports
- Establishment of Connectivity with both depositories NSDL and CDSL – SEBI CIR/MRD/DP/09 /2011
- Centralised system to identify tax defaults to be set up soon
- CBDT plans 11 more directorates for tax exemption cases
- PAN mandatory for any purchase of jewellery worth Rs five lakh or more
- SEBI – Review of Internet Based Trading (IBT) and Securities trading using Wireless Technology (STWT)
- Rs 1 lakh cr investment subsidies for electronics
- India-Malaysia free trade agreement (FTA) to be effective from July 1
- Allow 49 per cent FDI in multi-brand retail – Consumer Affairs Minister
- Efficacy of Concurrent Audit – CAs to verify the authenticity of property valuation certificate, legal certificate, guarantee/line of credit or any other third party certification
- RBI extends time limit for buyback of Foreign Currency Convertible Bonds (FCCBs)
- UIDAI issues One Crore Aadhaar Numbers in just nine months since the launch
- Proposed guidelines for conversion of section 25 company to an ordinary company
- Proposed Procedure to strike off name u/s 560 of the Companies Act, 1956 of section 25 Companies
- RBI allows issue of shares under FDI scheme under the Government route
- Members of Canadian Institute of Chartered Accountants intending to become ICAI members can apply after 25th July 2011
- All about India’s External Debt as at the end of March 2011
- Petrol, diesel prices hiked again marginally
- When additions not made in respect of ground for which reassessment is resorted to, no other additions can be made in the course of such reassessment proceedings
- Section 197A(1A) merely requires a declaration to be filed by the payee of the interest, and once it is filed the payer not liable to deduct TDS therefrom under s 194A and no disallowance can be made under s 40(a)(ia)
- Merely because assessee failed to prove the gift in the manner required by the department, it is not possible to conclude that assessee concealed her income
- Marketing and reservation charges are not Royalty or FIS and they are in the nature of business income and since the assessee does not have a PE in India, the same are not taxable in India
- PM rules out inclusion of higher judiciary in anti-corruption ombudsman
- Interest u/s. 234B and u/s. 234C can be computed only up to the date of regular assessment and not up to the date on which rectification order under section 154 came to be passed
- Assessee entitled to claim refund on basis of return in case where AO dropped proceedings under s 147/148 after filing of return
- Excise duty element cannot be added to value of unsold sugar lying in stock on last day of accounting year under section 145A
- Assessee, who merely acted as dealer in sale of Microsoft products, not liable to deduct tax
- FB to launch Facebook Credits for Indian users from July 1
- Salient Features of New all India Time Table ‘Trains at a Glance’ – New Time Table Comes into Effect from 1st July 2011
- DGFT – Defaulters for failure to export of cotton in terms of Policy Circular No.09 dated 29.12.2010 and Trade Notice No.01dated 10.1.2011
- RBI – Fabricated Certificate of Registration – M/s Forex Achievements
- DGFT – Procedure relating to export of pharmaceuticals and drugs
- DGFT- Deferment in the date of effect for implementation of bar-coding on export consignment of pharmaceuticals and drugs for tracing and tracking purpose
- DGFT- Authorising EIC for issuing Certificate of Origin under India-Malaysia Comprehensive Economic Cooperation Agreement (IMCECA)
- Companies (Amendment) Regulations, 2011 regarding six Regional Directors
- AIR Related scrutiny assessments should be limited to info in AIR
- Gifts From HUF Exempt u/s 56(2)(v) as HUF is a Gorup of relatives – ITAT Rajkot
- Madras HC stays Registration of Lawyers For Service Tax
- Land acquired in exchange of land owned by father of assessee-How to determine cost of acquisition
- Assessee entitled to depreciation on assets which were in its possession and it cannot be denied merely on the ground that the registration formalities were pending
- If assessee accepts loan to meet certain business contingencies no penalty could be imposed under s 271D for violation of s 269SS
- 2G scam – IT department quizzes A Raja’s relatives
- Over 120 central govt officials under CVC scanner
- Maharashtra govt reduces Vat on diesel, kerosene
- $2.6 bn tax on deal with Hutchison unfair – Vodafone CFO
- India negotiating changes in DTAA with Mauritius – Pranab Mukherjee
- ICAI President’s Message – July 2011
- S. 194C(2) No TDS on freight paid to lorry owners who merely placed the vehicles at assessee disposal & never involved themselves in work to be carried out by assessee for FCI
- Expenses incurred on recruitment and training of employees can not be held capital merely because assessee may earn benefits of enduring nature
- When the issue of siphoning off of funds is settled by the CIT(A), review proceedings u/s 263 cannot be initiated
- FBT is payable even in the absence of any taxable income
- When assessee submits the relevant details in respect of share application money such as PAN Number, confirmation and the bank particulars it can be said that the assessee has discharged its burden
- While exercising his power under sec. 263 of the Act, CIT is not permitted to substitute his own view about the computation of income in place of the income assessed by the A.O.
- Provisions of s. 80IB(10) of the Act not subscribed that assessee was required to begin the construction work after obtaining approval from local authorities
- Tender for CPC (TDS) for processing of TDS statements
- RBI – Credit Mobilisation Targets under the Swarnajayanti Gram Swarozgar Yojana (SGSY) for the year 2011-12
- SEBI – Shareholding of promoter/promoter group to be in dematerialized mode
- FEMA – Discussion Paper on FDI Policy-Rationale and Relevance of CAPS
- Issue of Certificates by Digital Signature – General Circular No. 39/2011
- Insurance – Portability of Health Insurance – Policyholders have to wait
- DRP is required to pass proper and speaking order under s 144C after giving proper consideration to the submissions made on behalf of the assessee
- CIC Asks SBBJ to direct its branches to the Reasons for Turning Down Applications Made Under Pradhan Mantri Rozgar Yojana (PMRY)
- Overseas Direct Investment- Liberalisation/ Rationalisation – A.P. (DIR Series) Circular No. 73
- Authority for Advance Rulings (Central Excise, Customs and Service Tax) Procedure Amendment Regulations, 2011 – Amendment in regulation 2
- Custom – Rate of exchange of conversion of each of the foreign currency with effect from 1st July, 2011
- Preliminary transcript of the Q & A session between the PM and Newspaper Editors and PM’s opening remarks at the interaction with newspaper editors
- Constitution Of New DRP At Delhi
- Discussions Underway to Build Consensus on Further Liberalisation of the FDI Policy in Retail and Defence Sector – FM
- Service Tax – Amends the Point of Taxation Rules, 2011
- GST rates to be between 16-20 Percent – CBEC
- Sahara moves SC against SEBI order for refund to investors
- EPFO – Forwarding of Landmark Judgment delivered by the Hon’ble Division Bench of Madhya Pradesh High Court on the issue of considerable components of Basic Wages
- EPFO – Transfer of funds to the PF trusts subsequent to grant of exemption u/s 17- reg
- How to get registered as a Mutual Fund – SEBI
- Lucky ones to forget Tax filings
- Taxing aviation won’t pay, experts warn govt
- Warning against Chinese ‘weight reduction’ tea in Qatar
- FM urges Chief Ministers to Reduce Levies on Diesel, Kerosene and Domestic LPG
- If the undisclosed income returned is not accepted by the AO and any addition is made to the income so returned, then the assessee will not be entitled to immunity from penalty on the tax payable on the undisclosed income
- Customs Notification issued adding Philippines as A Country Covered under India and ASEAN PTA
- Setting up of Independent Accident Investigation Committee
- Whether disallowance can be made u/s 14A for the interest on borrowed fund even if it is explained that the funds utilised for investments are not borrowed funds?
- EPFO to appoint fund managers by July-end
- Govt modifies norms for filling board-level vacancies in PSUs
- Eight Indian-origin person named among 40 young leaders of the global telecom industry
- Sebi to reopen its probe into multi-crore IPO scam of 2003-2006
- Even if assessee makes a wrong claim of deduction but the same was allowed by the AO, assessment can be reopned only if any failure to make full disclosure is attributed to the assessee
- When a charitable Trust has already claimed deduction for acquisition of capital assets as application of money, the further claim of depreciation on the same assets not allowable
- Assessee entitled to benefit of section 11 even if certain grant is received from Government for specific purpose but purpose not stated expressly to set up a corpus fund
- Mallikarjun Kharge, Assures Transparency in the Management of EPFO Corpus
- ICSI- Campus Placement at SIRO on 30th June 2011
- Notification related to Crude,Diesel, petrol and petroleum product – Notification No.52/2011-Customs
- Notification related to Diesel and cinematographic film – Notification No. 33/2011-Central Excise
- CBI arrests an absconding accused in a forgery and cheating case
- Now file Income tax returns from your mobile phone
- Penalty cannot be levied u/s 271(1)(c) for mere making of a claim of the expenditure which is not sustainable
- Claim of interest simpliciter not appeallable order before the CIT(A) under section 246A
- SEBI Informal Guidance holds Call / Put Option in private agreement amongst shareholders as invalid
- ITAT Mumbai – For ‘Equipment Royalty’ u/s 9(1)(vi), control of equipment by payer essential
- UIDAI – Aadhaar No is now valid ID proof for LPG gas connection
- Clarification on Ensuring Corporate Governance and Proper Compliance of Provisions of the Companies Act, 1956 and Rules made there Under
- Commission received by foreign company for assistance in arranging cargo transportation was taxable in India on account of ‘business connection’
- Draft Rules for mandatory dematerialisation of share certificate by Public Companies
- Govt hikes Diesel Price by Rs 3 per liter / kerosene Rs 2/lt, LPG Rs 50 per cylinder
- Mere possession of drugs by doctor not an offence
- Govt to come out with market-friendly stamp duty norms shortly
- CCI penalises NSE for abusing dominant market position
- Make public RBI advisory note issued to ICICI – CIC
- India Signs Protocol Amending DTAA with Singapore; to help in Effective Exchange of Information in Tax Matters
- DBRS Upgrades India’s Ratings for the First Time to Stable Outlook
- RBI to Issue Regulations for Setting-up of Infrastructure DEBT funds (IDFs) on Company Route
- SEBI pardons Pyramid director in accounts manipulation case
- 2G scam – CBI may get documents from Mauritius by next week
- Visa fee hike – India asks US to exempt professionals from social security tax
- Over half of India’s workforce self-employed – NSSO survey
- 2G Scam – CBI to seek clarification from UB Group, India Cements
- BABA Ramdev’s letter to PM – Response of Government of India
- Government to Provide Trainning to Advocates under Rajiv Gandhi Adhivakta Prashikshan Yojna
- Govt approves proposal providing medical insurance benefits to Domestic helps
- Constitution of Committee on National Competition Policy and related matters
- Notification Exempting Individual having Income less then 5 lakh from furnishing Income Tax Return
- Salaried Taxpayers with total Income up to Rs. 5 lakh Exempted from filing Income Tax Return for Assessment Year 2011-12
- Cost Inflation Index for FY 2011-12 / AY 2012-13
- Soon you will be able to Check your balance in EPF account online
- Payment of commission in lieu of dividend is Tax Avoidance
- Service tax Payable on billing basis from July 1 2011
- Long Procedural Delay in Filing Dept Appeals cannot be condoned – SC
- Difference between agreed price for purchase of property and price registered in sale deed taxable
- Two chartered accountants held in fraud case
- No excise duty on school uniforms, towels – CBEC
- MVAT – Budget 2011-12 – Filing of Returns by dealers dealing in liquor
- Refund money raised via OFCDs with 15% interest – SEBI to Sahara
- Extension of date for registration for Integrated Professional Competence Course (IPCC)
- Exclusion of certain topics in the CA Final Examination to be held in November, 2011 and thereafter
- India and the Global Financial Crisis What Have We Learnt?
- Home Ministry orders probe into ex-CJI Balakrishnan’s assets
- Special Drive to clear pendency of e-forms filed with ROC prior to implementation of revised Regulation 17 of the Companies Regulation, 1956
- Discussion on India´s Progress in the Financial Action Task Force Plenary in Mexico
- Beg to Differ-Delhi HC Judgment u/s 138 of Negotiable Instrument Act
- India Inc raises $2 bn in April through ECBs, FCCBs
- Custom Duty – Seeks to extend DEPB scheme upto 30th September, 2011 thereby amending Notification No.97/2009-Customs, dated 11th September, 2009
- Regarding imposition of definitive anti-dumping duty on import of sewing machine needles from China PR – Notification No. 50/2011-Customs
- A Committee constituted to examine ways to strengthen laws to curb generation of black-money in India, its illegal transfer abroad and its recovery
- IRDA – Exposure Draft on IRDA (Issue of Capital and Disclosure Requirements for Life Insurance Companies) Regulations, 2011
- Period of Validation of Registration in Chartered Accountancy Course
- Direction by Regional Director to professional for proper verification of information furnished by the Company
- Adjustment can not be made in the book profit u/s 115JB for the items which are not mentioned specifically in the explanation to section 115JB
- Proceedings u/s 263 by CIT not valid, if initiated on the basis of points decided by AO by following the decision of the ITAT and HC in the case of the assessee itself
- Even prior to assessment year 2008-09, when rule 8D was not applicable, the AO had to enforce the provisions of sub-section (1) of section 14A
- CA’s certificate in place of original tax challan not sufficient to prove that payment was deposited
- CIT vs. Gopal Purohit – SC dismisses Special Leave Petition against the judgment of Bombay High Court
- I-T dept asked to start prompt action against tax evaders
- Sahay to meet PM tomorrow for tax reduction in tourism sector
- Sebi likely to make mandatory for MF industry to disclose AUM
- Gov invites stakeholders’ view to revise the deemed export policy
- UAE has no plans to allow 100 pc foreign ownership
- GST regime unlikely from April 2012 states oppose draft Bill
- Section 2 of the Foreign Contribution (Regulation) Act, 2010 – Foreign source – Specified international organization which is not to be treated as foreign source u/s 2(1)(j)(ii)
- Even if offshore supply not taxable, software embedded in offshore supply can be taxable
- Payment of interest in respect of PPF accounts of HUF
- No excise duty on school uniforms, uniforms for private security guards, companies, hotels, airlines etc and made-ups such as linens, towels etc bearing the name or logo of a hotel, restaurant or airlines but not any brand name
- Seeks to amend Notification No.107/2008-Customs, dated the 6th October, 2008 so as to enhance the extent of Margin of Preference in respect of specified goods imported from Least Developed Countries of South Asian Free Trade Agreement (SAFTA)
- Custom Duty – Regarding timely intimation to Board and correspondence with other Ministries / Departments on policy matters
- Regarding Issue of Custom House Agent License – Reference from field formations – Circular No.25/2011-Customs
- Requirement of import permit / registration with / from CIB & RC for import of substances listed in the schedule 3 of the Insecticide Act, 1968, for non-insecticidal use under Insecticides Act, 1968
- RBI to put the data on Overseas Direct Investment in the public domain
- Quote updated e-mail ID and contact details including mobile no. in your Quarterly TDS/TCS statement
- Govt exempts CBI from RTI
- Online filing of Income tax returns in India jumps 80 per cent in F.Y. 2010-11
- DTAA re-negotiation with Mauritius to resume by Aug-Govt
- Andhra Pradesh Compulsory Gratuity Insurance Rules, 2011 makes Gratuity Insurance compulsory
- Whether the Explanation to section 73 can be applied to sections 70, 71 and 72 and in determining the gross total income
- Duration of fraud prior to detection in Asia is an average of five years – KPMG
- Employers to have compulsory insurance for foreign workers
- Clarification on Circular No. 33/2011 dated 01.06.2011 with regard to compliance of provisions of the Companies Act, 1956 and Rules made there under
- Identify Steps Necessary for Introduction of Accrual Accounting – Finance Minister
- Foreign Direct Investment (FDI) up by 43 per cent in April to USD 3.12 billion
- New policy may give impetus to manufacturing sector’
- RBI – Smt. Shyamala Gopinath lays down office as Deputy Governor
- DGFT – Modification of SION C-390 and C-1538 under Engineering Products Group – Public Notice No.57/ (RE-2010)/2009-2014
- DGFT – Amendment of Standard Input Output Norms at SI. No. C-773 – Public Notice No.56/ (RE-2010)/2009-2014
- Appointment of Common Adjudicating Authority – Notification No. 39/2011-Customs (N.T.)
- Insurance – Right to Information Act, 2005
- ICAI Convocation (I) – 2011- For newly enrolled Members admitted during the period September, 2010 to March 2011
- ICAI- 2nd Batch of Master in Business Finance Certificate Course (MBFCC)
- Kerala High Court grants interim stay on recovery of service tax on Restaurant and short term accommodation service
- If substantial question of law arises for consideration, appeal under section 260A is maintainable
- Expenses incurred on cultivation for adequate and steady supply of medicinal plant are allowable even if no agricultural activities done by assessee directly
- Whether profits earned during the period of sickness and available for setting off under normal provisions of Income Tax are to be excluded from the ambit of book profit of non-sick years?
- Whether capital gain arising out of the sale of land and building is liable to be included for computation of book profits under Section 115J?
- Whether the activities of telecasting and broadcasting of TV and Radio programmes can also be said to be for advancement of general public utility, and thus qualify for registration as a charitable company?
- Transfer Pricing – Even Loss/High-Profit Companies Can Be Compared
- New CAG norms for govt accounting to be unveiled on Tuesday
- Denial of Interest on service tax refund specious – Bombay high court
- Direct tax collections crosses Rs one trillion in Q1
- FM to Address State Finance Ministers on Reforms in Financial Reporting
- SEBI – Periodical Report – Grant of prior approval to Credit Rating Agencies
- SEBI – Periodical Report – Grant of prior approval to Depository Participants
- SEBI – Periodical Report- Grant of prior approval to Bankers to an Issue
- SEBI – Periodical Report- Grant of prior approval to Debenture Trustees
- Shri P. Vijaya Bhaskar and Shri B. Mahapatra take charge as New EDs at RBI
- RBI – Challenges and Opportunities in a Trillion Dollar Economy
- No income tax on amount received to meet the cost of Annual medical check-ups
- I-T Dept begins countrywide investigation of charitable and religious trusts, who violated tax exemption rules
- Foreign assets kept with Swiss banks came down by about Rs 5,00,000 crore
- FDI in retail – States permission must to open stores
- DGFT – Cotton exporters to face penal action if fail to ship in time
- PSU banks should be made to bid for surplus funds with the state-owned firms- DPE
- Govt may allow foreign individuals to invest USD 10 bn in Mutual Funds
- If assessee opts not to claim exemption under s 10A(8) in one year, it cannot be denied exemption in future provided it fulfils all the conditions of s 10A
- Expenditure incurred by assessee for obtaining CNG connection to facilitate process of manufacturing is revenue in nature even when payment was made as capital contribution
- In group cases also, each single case must be taken up individually to decide the monetary limits for filing appeal before High Court
- Service tax – Benefit of reduced penalty of 25% applicable only in cases where the tax amount is increased by the Commissioner (Appeals)
- Assessee entitled to deduction u/s 80IB(10) for residential cum commercial building approved by the local authority before insertion of clause (d) in s. 80-IB(10) w.e.f. 1st April, 2005 which is prospective and not retrospective
- Section 115O(5) do not restrict the allowability of the claim u/s 80M
- GST- Way Forward
- Assessee not entitled to benefit of s 220(7), wherein the income which arisen in Russia but not been brought in India and remitted to third country despite there been no restriction on remittance to India
- Where the amount was advanced due to the business exigencies as per agreement executed between the parties, it cannot be considered as deemed dividend
- Whether disallowance is warranted for the freight and cartage expenses incurred in cash without rejecting the books of account only on the basis of surmises and presumptions?
- Whether quantum of deduction under section 80IA is directly proportional to the profits of the undertaking and hence it has nothing to do with investment made in plant and machinery?
- Assessee entering into separate agreements for supply of materials, erection and for civil work portion, etc.-No tax deducted on payment made for supply of materials-Applicability of section 194C
- Section 10(6C) of the Income-tax Act, 1961 – Fees for technical services to foreign companies – Notified foreign company – Rolls Royce Defense Services Inc.
- Poultry Sheds used for the business of hatching constitutes ‘Plant’ for the purpose of depreciation under section 32
- Partners liable to prosecuted u/s. 278B if there are specific averments in complaint that they were responsible for every act or act of omission and commission of the firm at the time when offence was committed
- MCA issues Clarification on Dispute Between SEBI and Sahara Group
- Taxpayer’s functional profile and place in the value chain can be a key determinant of the parameters of economic analysis
- Inactivity for a limited period does not mean that business ceased to exist. Accordingly, expenditure is allowable even though no business income is earned during such period
- Repatriating foreign nationals permitted to retain India bank account
- NBFCs – Non-Banking Financial Companies (Opening of Branch/Subsidiary/Joint Venture/Representative Office or Undertaking Investment Abroad by NBFCs) Directions, 2011
- DGFT – DEPB Scheme will continue to be operative till 30th September, 2011
- Conditions and modalities for registration of contracts for additional quantity of 10 lakh bales(1,70,000 MTs ) of cotton with DGFT
- Access to information on Swiss accounts made easier by Swiss Parliament
- When AO has accepted higher agricultural income in the previous AY, it cannot reject the income declared on basis of general information collected from Chief Agriculture Officer and without confronting on the same with the assessee
- Allowability of expenditure incurred on higher education abroad of grandson of firm’s partners working there as an apprentice
- Where amount received in advance for a service which is to be performed in subsequent year, the advance could not be taken as income in the year of receipt
- Whether Trust entitled to exemption u/s 11 and 12 for amount received as corpus fund as it is not a taxable amount though deposited with sister concern in violation of section 11(5)
- An order passed under sub-section (6) or (7) of s 206C is appealable under s 246 (now s 246A) of the Income-tax Act
- Recording of satisfaction necessary for CIT before rejection of assessee’s application for waiver of Interest and Penalty
- Regarding Writing off of arrears of Central Excise duty and Customs duty – Constitution of Committees to advise the authority for writing off of arrear
- Aim to Achieve GDP Growth of 9 to 9.5% during 12th Five Year Plan Period; Asks Banks to Bring Down NPA to Previous Level – FM
- Tight monetary policy may impact growth: Pranab
- Section 641 of the Companies Act, 1956 – Schedules forms and rules – Power to alter Schedules – Amendment in Schedule XIII – Approval of Government in case of listed company where not required
- RBI releases DRG Study on ‘Productivity, Efficiency and Competitiveness of the Indian Manufacturing Sector’
- SEBI Circular – Shareholding of promoter / promoter group to be in dematerialized mode
- SEBI – Periodical report- Grant of prior approval to registrars to an issue and share transfer agents
- SEBI – Periodical report- Grant of prior approval to merchant bankers
- CBI arrests a private person for accepting bribe of Rs. Seven Lakhs
- SEBI Periodical report on Grant of prior approval to underwriters
- CBI arrests a Divisional Engineer of Railways for accepting bribe of Rs. 50,000/-
- Interest on Post Office savings account taxable from current fiscal
- Where the amount is given to the sister concern by the assessee interest-free out of own funds and for business purposes, no disallowance can be made for interest expenses u/s 40A(2)(a)
- Period of limitation for the purpose of CIT order u/s 263 in respect of an issue which is not the subject matter of reassessment proceedings will commence from the date of the original order and not from the date of the reassessment order
- If assessee fails to include modvat credit in closing stock value, AO not right in making additions on this ground U/s. 145A
- Assessee not entitled to deduction u/s 10A on the foreign exchange fluctuation gain which is derived on external commercial borrowings and not from the export activity of the assessee
- Accrued Interest Income from NPA Account can not be taxed – Delhi HC
- Merge CBDT and CBEC?
- Income Tax Department to provide details of tax returns of political parties under the RTI Act
- Advocates can practise in all courts
- SEBI circular relaxes norms on changing names by Listed Companies
- SEBI – Modification to Investor Protection Fund (IPF)/ Customer Protection Fund (CPF) Guidelines
- Section 4A of the Companies Act, 1956 – Public financial institutions – Notified Institutions – Notification No. S.O.1355(E), DATED 10-06-2011
- Speech by Chairman-CBEC on Annual Conference of Chief Commissioners and Directors General, 2011
- Home, auto loans to become costlier as RBI hikes key rates as RBI raises interest rates for the tenth time in 15 months
- RBI by Raising Repo Rate by 25 Basis Points Seeks to Maintain an Interest Rate Environment That Moderates Inflation – FM
- FM Releases Handbook on Disinvestment Through Public Offerings
- RBI increases Repo, Reverse Repo and Marginal Standing Facility Rates
- Exim Bank’s Line of Credit to the Government of the Federal Democratic Republic of Ethiopia – A.P. (DIR Series) Circular No. 72
- Standing Liquidity Facilities for Banks and Primary Dealers – REF.No.MPD.BC.344 /07.01.279/2010-11
- Mid-Quarter Monetary Policy Review- June 2011
- Satyam Computers – CBI reduces number of witnesses
- CWG scam – Income Tax department searches 17 premises of 2 contractors
- RBI Macroprudential Policies – Indian Experience
- Mumbai I-T dept eyes 18% jump in collection to Rs 185000 cr
- J&K I-T revenue collection up 27% at Rs 1197cr in FY11
- SEBI Circular on Standardisation of Rating Symbols and Definitions
- Govt starts anti-dumping probe against digital plate imports from Japan and China
- Labour Standards Should not be used for Protectionist Trade
- Regarding continuation of anti dumping duty, up to and inclusive of the 14th June, 2012, on ‘Metronidazole’, originating in, or exported from the China PR imposed vide Notification No. 61/2006-Customs dated 15th June 2006
- IFRS – Proposed revenue model to be re-exposed
- Rising interest rates and high cost of funds could hurt the profitability of the banking sector – RBI
- Sebi asks rating agencies to adopt standard symbols and definitions devised by it
- MCA to probe shareholding, management and auditors of 12 listed companies
- Govt seeks public views online on blackmoney issue
- OECD Appreciates India’s Efforts In Handling Issues Relating to Tax Evasion and Blackmoney
- Amends Notification No. 36/2001 – Customs (N.T.), dated, the 3rd August, 2001 vide Notification No. 38/2011 – Customs (N. T.)
- Recent SEBI directive on IDR dents MNCs plans of India listing
- Transport of goods by rail service – Abatement provisions – Amendment in Notification No. 9/2010-ST, dated 27-2-2010 – Exemption extended till 1-1-2012
- Exemption to Transport of goods by rail service for specified commodities extended till 1-1-2012- Amendment in Notification No.8/2010-ST, dated 27-2-2010
- RBI releases monthly data on India’s trade in services for the first time for the month of April 2011
- Tariff Value of Edible Oils, Brass Scrap and Poppy Seeds Notified – Notification No.38/2011-Customs (N.T.) dated June 15, 2011
- Regarding revision in quantum of anti dumping duty on Pentaerythritol originating in, or exported from China PR and Sweden – Notification No. 47/2011 – Customs
- Exemption to Transport of goods by rail service extended till 1-1-2012- Amendment in Notification No. 7/2010-ST, dated 27-2-2010
- Relieving / joining of officers in the grade of Addl/Joint Commissioner transferred during AGT-2011
- SEBI – Reporting of Offshore Derivative Instruments(ODIs)/ Participatory Notes (PNs) activity – Circular No. CIR/IMD/FII&C/7/2011
- Companies (Accounting Standards) (Amendment) Rules, 2011 – Notified Ind AS – Notification No. G.S.R. 179(E), DATED 03-03-2011
- Indian Government Accounting Standards (IGAS) 1 – Guarantees given by Governments – Disclosure Requirements
- Corrigendum – Seeks to supersede Notification No.153/2009-Customs, dated 31.12.2009 and to provide duty concessions to Philippines and other ASEAN countries in view of ASEAN- India FTA (AIFTA)
- RBI permission must for NBFCs to open subsidiaries abroad
- RBI admits its monetary policy actions may pull down growth
- Funding current account deficit may be a challenge – RBI
- Bonanza for loss making MTNL, gets Rs 177 cr income tax refund
- RBI may hike key policy rates by 25 bps tomorrow
- S Jaipal Reddy today met Prime Minister Manmohan Singh to push for an early decision on raising diesel and domestic LPG prices
- Summary of Guidelines for Fast Track Exit mode for defunct companies under section 560 of the Companies Act, 1956
- New Rules for Passing of the Resolution through Postal Ballot
- CBI registers a case against an Additional Commissioner of Income Tax for possession of disproportionate assets Rs.4.56 Crore (approx)
- Companies (Amendment) Regulations, 2011 in respect of Appointment of Regional Director
- Earnings from bribe may be made criminal offence under Income Tax Act
- ROC – Information to stakeholders for cleaning the pending work
- Inflation rises to 9.06 per cent in May
- FIEO demands extension of DEPB till GST launch
- Grant Thornton suggests Rationalisation of different taxes to promote affordable housing
- Review of the Deemed Export Policy – inviting comments from Members of Trade – Trade Notice No. 10
- RBI – Financial Stability Report June 2011
- Exim Bank’s Line of Credit of USD 36.56 million to the Government of the United Republic of Tanzania
- RBI – Directions for submission of system audit reports from CISA qualified Auditor
- Opening of Branch/Subsidiary/Joint Venture/Representative Office or Undertaking Investment Abroad by NBFCs – Circular No. DNBS (PD) CC.No. 222/03.10.001/2010-11
- Seizure of red sanders wood weighing 6360 Kg. valued at Rs. 63.60 lakh by DRI officers of Siliguri under Kolkata Zonal Unit
- Consultative Meeting of IT Vendors and Accounting Consultancy Firms on XBRL
- MCA proposes mandatory demat of Shares, Debentures and other deposit receipts of Unlisted Public Companies
- Mere allegation that no-claim certificates have been obtained under financial duress and coercion, does not lead to an arbitrable dispute – SC
- Whether section 94 is attracted and penalty is justified when assessee sets off the loss on sale of its mutual fund units against profit on short term investments but does not claim the loss as a deduction
- AO can assume jurisdiction u/s 147 if it has reason to believe that income has escaped assessment
- Interest income earned by joint venture FDRs prior to 1 April 2008 exempt under Section 10(23FB) of the Income Tax Act, 1961
- If AO has examined the issue of loss arising out of fluctuation in foreign exchange, then reassessment cannot be initiated
- While deciding a case ITAT can rely on a case which has not not been cited at the time of hearing
- Registration as Public Trust not necessary for registration u/s 12A – ITAT Mumbai
- I-T dept proposes political parties assessment under charity law instead of under special clause
- Income tax evassion need not declared criminal offence, says expert
- Govt extends DEPB scheme for three more months till September 2011
- Commerce Minister urges SAARC members to Lower Tariff of Sensitive items
- ICAI – CA aspirants need not clear CPT, Removing extra 15 mnts
- ICWAI – Management Accountant Journal for the Month of June 2011
- FM inaugurate International Seminar for Adopting tax System and International tax Rules to the New Global Environment
- FM calls for reversal of illicit outflows of funds from Developing Countries to tax havens
- Govt have enough tools to deal with tax havens not sharing info – Finance Minister
- MLAs Also to Issue Income Certificate for ‘Izzat’ Scheme of Railway Travel W.E.F. 1.7.2011
- India to seize foreigners’ illegal funds
- India, OECD to discuss tax reforms today
- International Labour Conference on Report of ILO Director General-Equality at WORK – the Continuing Challenge
- Department of Posts decides to revamp mail operations in line with the international best practices
- Distinction Between A Public Limited Company And a Private Limited Company
- Empanelment of Chartered Accountants for concurrent Audit of branches of Punjab National Bank (PNB) in Area II and III – Last Date 30th June 2011
- Interest up to Rs 3500 in Post Office Savings Exempted from Income Tax
- Pune ITAT – Portfolio management (PMS) fees deductible in computing capital gains ; Shares PMS transaction gains are Short Term Capital Gain and not business profits
- RBI Changes/ Liberalize / Rationalize Regulations related to overseas direct investment by Indian parties (A.P. (DIR Series) Circular No. 69)
- In works contract between contractor and sub-contractors only one is liable to pay tax
- Govt to declare tax offences criminal if the source of income is illegal
- Penalty paid by a registered broker is not a fine for any infringement of law and hence allowable- ITAT Mumbai
- Even if there is no evidence to the effect that the borrowed forex loan was utilised for the purpose of business, the loss arising out of foreign exchange fluctuation can be allowed based on past history
- A person who has completed ten years as a Member of Tribunal is ineligible to be re-appointed as Member even if he has not attained 65 years of age – SC
- Once the Transfer Pricing Officer accepted arm’s length price of royalty payments, the Assessing Officer could not examine the reasonableness of the said expenditure for disallowance
- Transfer of intangible assets with right to carry on business is taxable as capital gains and not as business income
- Expression ‘liable to tax’ used in the India-UAE tax treaty does not necessarily imply that person should actually be liable to tax in UAE
- ICAI to question SBI on excess provisions in March quarter
- RBI best positioned to maintain financial stability but needs autonomy- Subbarao
- Innovative mobile payment system required-ASSOCHAM
- Company Law Provisions Requiring attention of Statutory Auditors
- High interest rates hurting growth of economy, RBI needs to fix problem- Basu
- Real Estate Regulation Bill, 2011 to protect home buyers from fly-by-night developers soon
- Mines Amendment Bill, 2011- Committee invites Suggestion
- Small industry body wants DEPB scheme extended
- 73,000 villages to have banking facility by 2012- FM
- Narayana Murthy backs Anna Hazare; says bring PM, judiciary under Lokpal
- How to file Financial Statements / Annual Returns with ROC in XBRL Form?
- Company Law – Video conference mandatory for AGM from next fiscal
- IT department to seek public comments on black money recovery
- NSDL Return Preparation Utility (RPU) version 2.5 for preparing quarterly regular and correction TDS/TCS statement (using only consolidated TDS/TCS file) released June 10, 2011
- SBI breaches RBI norms on Reliance Industries exposure for third straight year
- 12 Cases of Wrong E-Filing Detected -MCA Directs Inquiry against professionals
- Share transactions declared by assessee cannot be doubted merely on ground that shares were of lesser known companies and their value cannot appreciate to the level claimed by the assessee
- ITAT imposes costs for ‘recovery harassment’ on Assessing Officer
- Export Grows 56.9 per cent at US Dollar 25.9 Billion in May 2011- Commerce Secretary
- Income Tax Law does not mandate the AO to suo moto supply the reasons for reopening / reassessment to the assessee
- Whether AO can deny exemption u/s 80IB(10) without commenting on assessee’s claim
- Unsafe to convict on doubtful statements – SC
- Seizure of 06.050 kgs of Ketamine Hydrochloride valued at Rs.60 lakhs by Air Intelligence Unit, Cochin International Airport
- Govt notifies Collection of Statistics Rules, 2011
- CoS gives nod for revision of Base Year of All India Index of Industrial Production
- RBI Governor pitches for greater autonomy for RBI to deal with inflation
- MCA organises Lok Adalat for companies for the first time in Chandigarh
- HC can decline to exercise jurisdiction if previously on similar matters he approached some other HC
- CBI registers a case against certain officers of MTNL; unknown officials of a pvt. company and others for alleged irregularities in awarding work of broadcast network for CWG-2010
- ICWAI Request for comments on Exposure Draft of Guidance Manual for Audit Quality.
- RBI releases June Issue of Its RBI Bulletin
- RBI – Non-implementation of Senior Citizens Savings Scheme- 2004(SCSS) by certain banks on deposit by Army Personnel
- Prudential Guidelines on Restructuring of Advances by Banks – Circular No. DBOD.BP.BC.No.99 /21.04.132/2010-11, Dated Jun 10, 2011
- Know your Provident Fund (PF) account details online from 1st July
- Scrap sale charges and job work/labour charges not to be excluded for the purpose of giving effect to deduction under Section 80IB of the Income Tax Act
- How to create/change/update your Facebook URL
- No addition could be made in re-assessment if no additions in respect of the grounds on which the proceedings u/s 147 were initiated had been made by the A.O
- Allowability of liability of interest on damage in breach of export only when it gets crystallized into a certain liability
- CBDT Circular specifying monetary limits for filing appeals applies to pending appeals
- Mere fact that Assessee getting some works done on job basis from sister concern would not deprive the assessee of its entity to be an EOU manufacturing unit
- A mere omission or negligence would not constitute a deliberate act of suppressio veri or suggestio falsi for imposition of penalty
- Clarification Regarding Participation by Shareholders or Directors in Meetings Under the Companies Act, 1956 Through Electronic Mode
- No Review of a Judgment, If Appeal Already Decided
- Income Tax department raids 14 premises, surveys six for suspected tax evasion
- SBI Interest Rate for Income Tax, Gold & Silver Rates on April 1, 2011
- MCA lacks authority to probe Speak Asia flaws
- Orissa textile traders protest VAT levy
- Over 5 crore people expected to pay tax in Financial Year 2012
- Panel recommends MIS term to be reduced to five years from the current six-years
- RBI- Retail Electronic Payment Systems – NEFT / NECS / RECS / ECS – Levy of Processing Charges
- Remittance of assets by foreign nationals- Opening of NRO Accounts – A.P. (DIR Series) Circular No. 70
- Regulators should interact more frequently – Ministry of Corporate Affairs
- Section 10(23AAA) of the Income-tax Act, 1961 – Exemptions – Income received by any person on behalf of fund established for welfare of employees or their dependents – Notified purposes/conditions for establishment of fund
- Banking – Report of the Committee on Comprehensive Review of National Small Savings Fund
- Insurance – Levy of Penalty under section 105B of the Insurance Act, 1938
- Cabinet approves plan to extend medical facilities to beedi workers under RSB Yojana
- Cabinet gives nod for lowering of age for pension under Old Age Scheme
- DGFT – Quantity restriction of 65 lakh bales on export of cotton during Cotton Season, 2010-11, Notification No.57 (RE-2010)/2009-14
- Empanelment of CAs with Official Liquidator Delhi
- SEBI circular on Pre-funded instruments / Electronic fund transfers
- Instructions regarding Monitoring of fresh Fruit and Vegetable Import from Europe for E.Colli bacterial contamination
- Ministry of Environment and Forest (MoEF) notifies e-waste management rules
- Difficult to recover Income Tax from Hasan Ali
- Bank FD still attractive than proposed rates of small savings
- SEBI plans to induct four new executive directors
- Reliance Securities settles Sebi probe for Rs 25 lakh
- 2G Scam – Raja threatened staff to favour Swan, Unitech over Tata group – CBI
- Need to amend Prevention of Corruption Act – SC
- Tata, Idea among 10 companies under 2G probe – ED tells JPC
- Internet Society Celebrate World IPV6 Day
- Recommendation for increasing annual deposit limit in PPF to Rs. 100000 from existing Rs. 70000
- Reassessment proceedings u/s.147 read with 148 of the Act cannot be initiated merely based on the audit report
- Income Tax office held guilty of violating ‘human rights’ for continuing search and Seizure process without any break or interval at odd hours
- DIN-1 and DIN-4 to be digitally signed by Practicing CA/CS/CWAs – w.e.f. 12.06.2011
- Filing of Balance Sheet and Profit and Loss Account in eXtensible Business Reporting Language (XBRL) mode – General Circular 37/2011
- Not to give effect to notificataion taxing representation services by CS, CWA ,CA – Delhi HC
- Govt sets up panel on black money to suggest ways to trace tax defaulters
- Finance ministry bringing intelligence and criminal investigation units of the Income Tax department under one umbrella
- FM Urges CBEC Officers to Make Sustained and Strategic Efforts to Achieve Revenue Targets for Current Fiscal Year
- French Finance Minister, Chiristine Lagarde calls Pranab Mukherjee for support in IMF
- Extra efforts would be required to achieve tax targets – FM
- ICSI National Award for Excellence in Corporate Governance, 2011
- Insurance – Report of the Committee on Bancassurance
- Insurance – IRDA (Scheme of Amalgamation and Transfer of General Insurance Business) Regulations, 2011
- CBDT Sets-up a Committee to Examine And Suggest Ways to Recover Income Tax Demand
- CBI arrests Joint Director of CIB and RC under Ministry of Agriculture in a bribery case
- Minimum Export Price of Onions – Notification No. 56 (RE–2010)/2009-2014
- Seizure of Fake Indian Currency Notes (FICN) having face value of Rs.1.54 Crores by DRI
- High net-worth individuals wants more self-control over their investment habits,
- Discussions on to further liberalise FDI in Multi Brand Retail – Pranab Mukherjee
- Home Minister, Shri P. Chidambaram’s Statement on Events Concerning Ramdev’s Protest
- India going through ‘transparency revolution’ – Antony
- ICAI convocation for Members admitted during the period September, 2010 to February, 2011
- Govt committee suggests Increase in PPF limit, Saving Interest rate, Withdrawal of KVP
- The Proviso to section 113 imposing surcharge on block assessments is retrospective in operation
- 6.58 crore PF scam – CBI withdraws cases against 18 accused
- Vijaya Bank – On Line Registration for Empanelment of Concurrent Auditors
- FM to Inaugurate Annual Conference of Chief Commissioners and Directors General of Customs, Central Excise and Service Tax
- MCA invites comments on Companies (Dematerialization of Certificates) Rules, 2011 by 30th June, 2011
- MCA Guidelines for Fast Track Exit mode for defunct companies under section 560 of the Companies Act, 1956
- Clarification regarding participation by shareholders or Directors in meetings under the Companies Act,1956 through Electronic mode
- Green Initiatives by India Inc
- If noting incriminating found in the course of search relating to any of the A.Y., the assessments for such years could not be disturbed
- Unabsorbed depreciation set off in earlier years could not be reduced from profits for computing deduction u/s. 80-IA
- Black Money – No need for more committees as these are only to stall action
- FM meets Institutional Investors; Confident of Reducing Fiscal Deficit
- Expenditure in the nature of reimbursement cannot fall within the purview of fees for technical services
- Professional Opportunities – Khadi and Village Industries Commission for audit Services
- RBI cautions public against fictitious offers of being beneficiary of funds such as those from winning lotteries
- CWA – President Communique June, 2011
- IRDA (Scheme of Amalgamation and Transfer of General Insurance Business) Regulations, 2011
- Non-financial Reporting – What, Why and How – Indian Perspective
- Committee on black money likely to hold 1st meet on June 9
- RBI wants more banks to launch services on mobile
- India-Netherlands ink agreement on Corporate Governance and Corporate Social Responsibility
- 16 FDI Proposals Worth Rs. 923.55 Crore Approved
- DGFT – Export of River Sand to Maldives under Bi-lateral Trade Agreement
- DGFT – Export of Stone Aggregate to Maldives under Bi-lateral Trade Agreement between Government of India and Government of the Republic of Maldives
- DGFT – Exemption for export of wheat flour to Maldives for the years 2011-12, 2012-13 and 2013-14
- Registration of companies in 24 hours from first week of July
- Excise Duty- Regarding centralised registration facility for recorded smart card manufacturers
- Promotional expenses incurred by cosmetic company on Testers, and merchant display which were supplied free of cost to the retailers are revenue in nature
- Reopening U/s. 147 invalid If Reason reasons recorded have not escaped assessment
- Service Tax on Air Travel – IATA put India on Wall of Shame
- Interest to be paid on those PPF (HUF) accounts, which had attained maturity after 13-5-2005 but closed by subscribers before 7-12-2010
- List of Cost Accounting Records Rules which have been superseded by the MCA vide Notification dated June 3, 2011
- MCA’s instruction on settlement of prosecutions cases
- Net direct tax collection down 48 percent in April-May while Gross collection up by 37 per cent
- Allowability of Interest on refundable tax after giving effect to the order of Settlement Commission and order under Section 132(5) of the Income Tax Act
- Allowability of Commisssion paid to Direct Selling Agents (DSA)
- Year of commencement of operation relevant to find out as to whether the entitled to deduction under Section 80IB or not
- HC referred the matter back to the Tribunal in respect of addition to the income of the Assessee of income earned through dummy company
- Delhi HC order on scope of police seizure powers under Section 64 of the Copyright Act
- Mumbai, Delhi may produce next Microsoft or Google
- Ashok Chawla to be next CCI Chairman
- Taking suomoto cognizance SC issues notice to government on eviction of Baba Ramdev
- Industry chambers Assocham, Ficci and MCX-SX favours listing of stock exchanges
- ICAI Accounting Research Foundation invites application from candidates for its project on Sustainability Reporting and Government Accounting Reforms
- RBI monitoring economy, liquidity mid-quarterly policy review
- Excise Duty on Articles of Jewellery- History, Contradictions, Confusions & Clarifications
- When the mandatory provision not followed leading to evasion of tax by way of excess relief granted to the assessee, the remedy open to the officer is to revise the assessment by invoking powers under Section 147
- Assessee would not get benefit of exemption if duty had not been paid on inputs
- Jurisdiction of HC over a case whose cause of action arose from an order delivered by an appellate authority which is situated in the territorial jurisdiction of the Court
- Allowability of Foreign Tour expenses of wife of Managing Director
- Health Services no more taxable
- Gutkha pouch manufacturer given bail in excise evasion case
- Sebi wants stock exchanges to go through ‘stress test’
- Investment bankers to reveal client names to manage PSU disinvestment
- Income Tax department probing fund transfer through ATMs along Indo-Nepal border
- SC – Builder entitled to escalation cost for delay caused by Government
- Contract revenues/costs in foreign currency
- Derivative trading income of FIIs taxable as capital gains, and not as ‘speculative’ income
- Participation by shareholders in the general meeting through Audio Visual Electronic Communication Facility
- Participation by Directors in meeting of Board / committee of Directors through Audio Visual Electronic Communication Facility
- IT – American Institute of Indian Studies, New Delhi notified as an approved organization under section 35(1)(iii) – NOTIFICATION NO. 31/2011
- A relation between the business of a non-resident and activity carried on in India would result in a ‘business connection’ for the purpose of deemed accrual of income in India as well as for considering the resident as the agent of the non-resident
- Merely because assessee permitted to establish new industrial undertaking for manufacture of computer software as 100% EOU under STP scheme not sufficient to claim exemption u/s. 10B
- DPE against Finance Ministry ‘diktat’ on PSUs disinvestment
- Good news – Govt to give 8 per cent interest on PPFs closed between May 2005 and Dec 2010
- Section 90 of the Income-tax Act, 1961 – Double Taxation Agreement – Agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion with Mozambique
- Companies (Cost Accounting Records) Rules, 2011
- SEZ – Setting up of a sector specific SEZ by Infoparks Kerala – Notification No. S.O. 1064(E), DATED 16-05-2011
- Insurance – IRDA’s guidance note on Economic Capital for Non-Life Industry
- Re-assessment of lease classification can be done only on Actual exercises of purchase option
- SEBI imposes Rs 14 cr penalty on two IPO scam financiers
- Black Money – Action Taken by Government on Demands Raised by Baba Ramdev
- No great ambiguity in international tax laws – IT official
- Indian Postal Dept. mobile money transfer service
- Message by ICSI President – June, 2011
- Consumer Affairs Minister for Strict Action against Misleading Advertisements
- Capitalization of borrowing cost on prepayments made to acquire an asset
- Discounting charges made for bills of exchange are not interest – Delhi HC
- Summary of New Draft Rules for Preferential Allotment/ Private Placement in unlisted public companies
- Fema – RBI liberalises and rationalises Overseas Direct Investment Regulations
- Existence of actual cross border transaction and motive to shift profits or evade taxes not necessary pre conditions for Transfer pricing provisions to apply
- Taxpayer not eligible to claim short stay exemption under the DTAA as the salary was paid directly by the Indian subsidiary
- Govt to dedicate National Legal E-Library to nation on 15 August 2011
- India among top four wealth creators in world – Study
- New pension policy – PFRDA to retain 50 per cent cap on equity investment
- Secretary, Financial Services Launches Integrated Grievance Management System (IGMS); asks Insurance Companies to Focus on Increasing Insurance Literacy
- SEZ – Views of the Industry sought by MCI on its proposal to relax conditions for Project & Employment Visa for SEZ
- The Companies (Cost Audit Report) Rules, 2011
- Companies Director Identification Number (Second Amendment) Rules, 2011
- Seeks to supersede Notification No.153/2009-Customs, dated 31.12.2009 and to provide duty concessions to Philippines and other ASEAN countries in view of ASEAN- India FTA (AIFTA)
- SEBI – Redemption of Indian Depository Receipts (IDRs) into Underlying Equity Shares
- Seeks to amend notification no. 96/2008-Customs, dated 13.08.2008 so as to include ‘Islamic republic of Afghanistan’ as one of the beneficiaries to DFTP scheme
- Clarification about requirement of ‘Declaration of Intent’ on Free Shipping Bills for claiming Chapter 3 scheme benefits
- Exemption for export of 10,000 MTs of organic sugar – Notification No 52 (RE–2010)/2009-2014
- Export of Organic Pulses – Notification No 51 (RE–2010)/2009-2014
- Exemption for export of 10,000 MTs of organic edible oils – Notification No 50 (RE–2010)/2009-2014
- Amendment of para3.11.8 of HBP Vol I( 2009-14) – Public Notice No. 53(RE-2010)/ 2009-14
- Amendment in the Hand Book of Procedures, Vol.1; specifically in the ANF 3B – Public Notice No. 52 (RE2010)/2009-14
- MODIFICATION OF SION C-593 under Engineering Product Group – Public Notice No. 51 /(RE-2010)2009-2014
- RBI circular on Financing of Self Help Groups (SHGs) and Joint Liability Groups (JLGs) by Primary (Urban) Co-operative Banks (UCBs)
- SEBI – Periodical Report – Grant of prior approval to members of stock exchanges/sub-brokers
- SEBI – Processing of investor complaints against listed companies in SEBI Complaints Redress System (SCORES)
- Slowdown in housing loan uptake due to interest rate hike – National Housing Bank
- Delhi HC – Professional’s heart surgery expense not deductible u/s 31 or 37(1) of the IT Act
- Post section 43(5) amendment derivatives losses have to be treated as non-speculation business losses for the purposes of set-off
- IT department to seek details of Hasan Ali Khan’s Swiss Bank accounts
- RBI panel calls for secure systems to check credit card frauds
- Income Tax Department to pay Rs six lakh to road mishap victim
- CCI Mandated to Make Markets Function for the Consumer and to Ensure Fair and Healthy Competition in the Indian Economy- Dhanendra Kumar