commentators

The draft Direct Tax Code Bill, 2009 (DTC or Code) was released for public comments by the Government of India (Government) on 12 August 2009. The stated objective of the DTC is to establish an economically efficient, effective and equitable direct tax system which will facilitate voluntary compliance and reduce the scope for disputes and minimize litigation. Full Article

In a twist to the Satyam fraud case, a global IT research firm has revealed details which may point to a collusion between Price Waterhouse Coopers and Satyam Computers. The report, by Gartner, indicates that PwC was in a strategic partnership with Satyam till last year, even as its Indian arm was auditing the firm headed [...] Full Article

ADVANCE RULING DETAILS Decided by:. THE AUTHORITY FOR ADVANCE RULINGS (INCOME-TAX) NEW DELHI, In The case of: Rural Electrification Corpn. Ltd., In re , Appeal No. : AAR NO. 759 OF 2007, Ruling Given on: MARCH 31, 2009 SUMMARY OF ADVANCE RULING Merely because the objective of the provision will be better served, it is [...] Full Article

The Central Board of Direct Taxes (CBDT) expanded the scope of professional services to cover sportspersons, umpires and referees, making them liable for a higher tax deduction at source (TDS) at the rate of 10% against 1-2%. Full Article