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House rent allowance (HRA) is received by the salaried class. A deduction is permissible under Section 10(13A) of the Income Tax Act, in accordance with Rule 2A of the Income Tax Rules. You can claim exemption on your HRA under the Income Tax Act if you stay in a rented house and get a HRA from your employer. Full Article

Result of the Assessment Test held on Sunday 28th November, 2010 for the Certificate Course on International Taxation organised by the Committee on International Taxation of ICAI in Hyderabad, New Delhi, Mumbai, Chennai, Kolkata-(14-01-2011). Assesment Test Result Hyderabad (Batch 4) Full Article

Notification No. 88/2010-Customs (N.T.), New Delhi, dated the 11th October, 2010. S.O.          (E). – In exercise of the powers conferred by sub-section (1) of section 4 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby appoints the Additional Commissioner of Customs or Joint Commissioner, Inland Container Depot, Tughlakabad [...] Full Article

Notification No.70 / 2010-Customs (N.T.) the Commissioner of Customs (Export), New Customs House, Mumbai, for the purposes of adjudicating the matters relating to Show Cause Notice issued to M/s. Frost International Limited, 402, Kalpana Plaza, 24/147B, Birhana Road, Kanpur and others, vide F.No. DRI/GRU/INV-01/09-10.Pt.II dated 25th May, 2010 by the Additional Director General, Directorate of Revenue Intelligence, Ahmedabad Zonal Unit, Ahmedabad. Full Article

The government has appointed former I-T officials or officials from the Indian Revenue Service as income-tax ombudsmen. These officers are independent of the jurisdiction of the income-tax department and hence, operate as an independent arbiter. Full Article

The Institute of Chartered Accountants of India (ICAI), working under the aegis of the Ministry of Corporate Affairs, organizes campus placement programme for the benefit of newly qualified Chartered Accountants twice every year. The first phase of the programme is going on these days at 5 cities namely Bangalore, Chennai, Kolkata, Mumbai and New Delhi. It will continue till 10th March, 2010. Full Article

When AO, who is both an adjudicator as well as an investigator, is acting in a quasi judicial capacity, it is his perception which counts and not that of CIT sitting in revisionary proceedings. It is not an error on the part of the AO not to conduct any inquiry into the accounts the way CIT wants it in exercise of his power under section 263. Full Article

n this decision, vide order dated 15.9.2008, the Hon'ble Apex Court had held that even a decision of Apex Court or Jurisdictional High Court rendered subsequent to the Tribunal decision can render the said Tribunal decision liable of rectification of mistake apparent from record. In view of the aforesaid discussion and precedent, we are inclined to dismiss this appeal by the Revenue on account of tax effect, when on similar facts Hon'ble Jurisdictional High Court has dis.. Full Article