tax practitioners

Whether Rule 55 of Income Tax Rules, 1962 is really ill-drafted?

Income Tax - The present Rule 55 of the Income Tax Rules, 1962, contain a condition that the Applicant has been practicing before the Income Tax Authorities for not less than one year on the date of application, which has been originally a suffix to the Clause (vii) in a metamorphose form. This has been creating the main hurdle being encountered by th...

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Certificate of Registration as 'Income Tax Practitioner' not mandatory to Represent I. T. Assessees

Income Tax - WHO CAN REPRESENT FOR & ON BEHALF OF INCOME TAX ASSESSEES? As per Section 288(2) of Income Tax Act, 1961 there are Eight (8) Categories of Persons eligible to act as Authorized Representatives for & on behalf of the Income Tax Payers/Assessees, as listed below: 1) The Relative or Employee of the Assessee/Tax Payer [vide […]...

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If Advocates only allowed to Practice in Taxation, all IT Officials must be Graduates in Law

Income Tax - Hitherto, the Lawyers/Advocates are attached to civil courts and are practicing Law before the Judges in Courts of Law by presenting, representing or pleading on behalf of their clients/cases. Henceforth, if Lawyers & Advocates (Graduates in Laws) are alone entitled to practice even in Taxation Field (Income Tax, Service Tax, Custom & C...

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High-pitched assessments u/s. 147/143(3) of the Income-tax Act – Some remedies

Income Tax - After the judgment of the Supreme Court in the case of ACIT vs. Rajesh Jhaveri Stock Brokers (P) Ltd. delivered on 23-5-2007 and reported at (2007) 291 ITR 500 (SC), a large number of actions are being initiated u/s. 147/148 of the Income-tax Act, 1961 (‘the Act’ for short) and often high-pitched Income tax assessments are being made ...

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Due date of Form 704 in respect of the year 2007-08

Income Tax - After e-enrolment is made by a registered dealer, the ‘Acknowledgment’ will be made available on the website. The signed copy of the Acknowledgment is required to be furnished in the Department only once. After furnishing such copy, there is no need to furnish the signed acknowledgment of e-return which at present is required to be fu...

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Advocates cant audit, only CAs/cost accountants can

Income Tax - The Supreme Court today said that only chartered or cost accountants will be eligible to audit and certify sales tax returns in bid to prevent evasion. The decision would affect the lawyers specialising in Sales Tax laws and former Sales Tax officers who work as sales tax practitioners....

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Delhi High Court decision regarding applicability of service tax on rent

Home Solution Retail India Ltd Vs UOI & ORS (Delhi High Court) - The Delhi High Court held that the renting of immovable property is not a service, and accordingly, the levy of service tax on the activity of renting is “ultra vires.” The decision may have significant accounting implications on the entities. The judgment delivered by the Division Bench of the ...

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MVAT: Extension of due date for Submission of Audit Report for year 2007-08 with conditions

VAT/ AMD-1008/IB/ ADM-06 - (23/01/2009) - No. VAT/ AMD-1008/IB/ ADM-06 Mumbai Dt: 23rd January, 2009 Trade Cir. 3 T of 2009 Sub : Submission of Audit Report for year 2007-08. Ref. : 1. Government Notification No. VAT-1508/C.R. -69/ Taxation-1 dated 10th November, 2008. 2. Trade Circular 39 T of 2008 No. VAT/ AMD-1008/IB/ ADM-06 dated 15th N...

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Recent Posts in "tax practitioners"

Whether Rule 55 of Income Tax Rules, 1962 is really ill-drafted?

The present Rule 55 of the Income Tax Rules, 1962, contain a condition that the Applicant has been practicing before the Income Tax Authorities for not less than one year on the date of application, which has been originally a suffix to the Clause (vii) in a metamorphose form. This has been creating the main hurdle being encountered by th...

Read More

Certificate of Registration as 'Income Tax Practitioner' not mandatory to Represent I. T. Assessees

WHO CAN REPRESENT FOR & ON BEHALF OF INCOME TAX ASSESSEES? As per Section 288(2) of Income Tax Act, 1961 there are Eight (8) Categories of Persons eligible to act as Authorized Representatives for & on behalf of the Income Tax Payers/Assessees, as listed below: 1) The Relative or Employee of the Assessee/Tax Payer [vide […]...

Read More

If Advocates only allowed to Practice in Taxation, all IT Officials must be Graduates in Law

Hitherto, the Lawyers/Advocates are attached to civil courts and are practicing Law before the Judges in Courts of Law by presenting, representing or pleading on behalf of their clients/cases. Henceforth, if Lawyers & Advocates (Graduates in Laws) are alone entitled to practice even in Taxation Field (Income Tax, Service Tax, Custom & C...

Read More

High-pitched assessments u/s. 147/143(3) of the Income-tax Act – Some remedies

After the judgment of the Supreme Court in the case of ACIT vs. Rajesh Jhaveri Stock Brokers (P) Ltd. delivered on 23-5-2007 and reported at (2007) 291 ITR 500 (SC), a large number of actions are being initiated u/s. 147/148 of the Income-tax Act, 1961 (‘the Act’ for short) and often high-pitched Income tax assessments are being made ...

Read More

Delhi High Court decision regarding applicability of service tax on rent

Home Solution Retail India Ltd Vs UOI & ORS (Delhi High Court)

The Delhi High Court held that the renting of immovable property is not a service, and accordingly, the levy of service tax on the activity of renting is “ultra vires.” The decision may have significant accounting implications on the entities. The judgment delivered by the Division Bench of the Delhi High Court...

Read More

MVAT: Extension of due date for Submission of Audit Report for year 2007-08 with conditions

VAT/ AMD-1008/IB/ ADM-06 (23/01/2009)

No. VAT/ AMD-1008/IB/ ADM-06 Mumbai Dt: 23rd January, 2009 Trade Cir. 3 T of 2009 Sub : Submission of Audit Report for year 2007-08. Ref. : 1. Government Notification No. VAT-1508/C.R. -69/ Taxation-1 dated 10th November, 2008. 2. Trade Circular 39 T of 2008 No. VAT/ AMD-1008/IB/ ADM-06 dated 15th November, 2008. 3. Trade Circular [&helli...

Read More

Due date of Form 704 in respect of the year 2007-08

After e-enrolment is made by a registered dealer, the ‘Acknowledgment’ will be made available on the website. The signed copy of the Acknowledgment is required to be furnished in the Department only once. After furnishing such copy, there is no need to furnish the signed acknowledgment of e-return which at present is required to be fu...

Read More

Advocates cant audit, only CAs/cost accountants can

The Supreme Court today said that only chartered or cost accountants will be eligible to audit and certify sales tax returns in bid to prevent evasion. The decision would affect the lawyers specialising in Sales Tax laws and former Sales Tax officers who work as sales tax practitioners....

Read More

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