The MCA XBRL Validation Tool (for costing taxonomy) has been developed and is currently under testing. The tool is likely to be released on 24th November, 2012. Filing of the Cost Audit Report and Compliance report on the MCA portal shall be enabled thereafter.

British telecom giant Vodafone has decided against making a provision in its balance sheet for the over Rs 11,000 tax claim made by Indian authorities for its 2007 deal to acquire stake in Hutchison-Essar.

Information received from the Government of France has been analysed and investigations into the information have been undertaken by the different jurisdictional authorities under the Income-tax Act, 1961. Investigations in the matter are under progress including with the foreign tax authorities to obtain more information with regard to the reported account holders.

Central Board of Direct Taxes has said it does not have any information about names and addresses of Indians who have reportedly stashed money in Swiss banks.  The CBDT, a part of Department of Revenue in the Finance Ministry, said this when the matter came before the CIC where Information Commissioner Rajiv Mathur was hearing [...]

To avoid inconvenience and delay, Service Tax assessees are requested not to wait till the last date for filing their ST3 returns. So far only about 6,000 returns are being filed per day in ACES in the new ST 3 format for the period April to June, 2012, out of about 16 lakh registered assessees. [...]

Due to unavoidable circumstances, the Final Examination in Paper 8 – Indirect Tax Laws, and the Post Qualification Course(s) Examination(s) in Management Accountancy, Corporate Management, Tax Management, and Insurance and Risk Management, scheduled to be held on Sunday, the 18th November, 2012 in the Examination Centre(s) in Mumbai/Navi Mumbai [Zone I to Zone XI], Thane, and Panvel stand postponed.

  A new Website for e-filing of returns and forms has been launched by the Income-tax Department. On the new Website, a new feature has been introduced for tax professionals (presently this feature is available only for Chartered Accountants) for online filing of various forms. To assist tax professionals in filing the statutory forms various [...]

ABCAUS Task Reminder is excel based Task Reminder that can help you remind your important schedules. These schedules can be your professional meetings, seminars, appearances or even your personal affairs like Bill payments, Medical checkup etc.

The External Commercial Borrowing (ECB) Policy is reviewed periodically by the Government in consultation with RBI keeping in view the evolving macro economic situation, external sector assessment, needs of the corporate sector and sectoral requirements.

Desiring to amend the Convention between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of the Republic of India for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital gains signed at New Delhi on 25 January 1993 (hereinafter referred to as the Convention),