intimation

In continuation of its efforts for trade facilitation, CBEC has rolled out a new centralized, web-based and workflow-based software application called Automation of Central Excise and Service Tax (ACES) in all 104 commissionerates of Central Excise, Service Tax and Large Tax Payer Units (LTUs) as on 23 December, 2009. ACES is a Mission Mode Project (MMP) of the Government of India under the national e-governance plan and it aims at improving tax-payer services, transpare.. Full Article

As would be evident from the pleadings and submissions made on behalf of the respective arties, the main question which we are called upon to consider is whether in the absence of publication of the Rules and Bye-laws of the Bombay Stock Exchange, which had been framed prior to its recognition in 1956 under the 1956 Act, its activities could be said to be without authority. Full Article

The Institute compiles data of firms as on 1st January every year based on the particulars as provided by the firms duly confirmed/updated/modified. The exercise for compilation of the data of the firms as on 1st January, 2010 is being undertaken. Full Article

With effect from 1-6-1999, section 143(1) does not contain any provision for any adjustment to the returned income shown by the assessee in the return of income, and no room is left for any intimation to the assessee except making arithmetical calculation of tax or interest strictly on the basis of returned income; therefore, the power of rectification u/s 154 should be limited to the scope and power of making intimation u/s 143(1), and as such the power of rectification.. Full Article

The word automation has its own pros n cons. Anyone have some different imagination of this word. What, why, how, to whom and so many doubt come to their mind. All of sudden this word is on everyone’s tongue. Automation…, Automation…, Automation…, after all what is this! Nobody was disposed to the automation of filing of return will be mandatory for everyone. Full Article

SUMMARY OF CASE LAW Section 143, read with sections 234A to 234C, of the Income-tax Act, 1961, and articles 12 and 7 of the DTAA between India and USA – Assessment – General – Assessment years 2002-03 and 2003-04 – Whether return of income filed by an assessee, for purpose of section 143(1), would include [...] Full Article

The interesting question raised in this petition is, where a company deducts tax at source (TDS) from the salary payable to an employee, but fails to deposit the said amount into the Government treasury, whether, the revenue can recover the TDS amount with interest from the employee concerned in spite of the express bar contained in section 205 of the Income Tax Act, 1961. Full Article