"November, 2008" Archive

Government Plans Interest Sops To Ease Home Loans

The proposal will also include providing loans at below market rates to real estate developers. But the loan disbursed under this will come with a number of conditions like an upper ceiling on selling price of flats and individual homes.The government is considering a proposal to make home loans cheaper for consumers through interest subs...

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Posted Under: Finance |

SEZ applications to go online

The Department of Commerce has completed most of the procedures related to setting up special economic zones online to streamline various operations regarding these industrial enclaves.These steps will not only help the developers of the tax-free zones apply through a website but will enable them to track the status of their applications ...

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Posted Under: Finance |

Subodh Kumar Bhargava Vs Commissioner of Income Tax (Delhi High Court)

Subodh Kumar Bhargava Vs Commissioner of Income-Tax (Delhi High Court)

The tribunal was not right in law in its interpretation of the provisions of Section 275(1)(c) and was wrong in holding that the penalty order passed on 17.02.2004 under Section 271B was within the period of limitation prescribed under the Act....

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Notification No. G.S.R. 824(E), dated 28/11/2008

Notification No. G.S.R. 824(E). (28/11/2008)

– In exercise of the powers conferred by sub-section (1) of section 642 read with section 610B of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following rules to amend the Companies (Central Government's) General Rules and Forms, 1956, namely....

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Notification No. 106/2008-Income Tax Dated 28/11/2008

Notification No. 106/2008-Income Tax (28/11/2008)

Notification No. 106-Income Tax In exercise of the powers conferred by clause (iii) of sub section (4) of section 80-IA of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendments to the Industrial Park Scheme, 2008, namely :— In the Industrial Park Scheme, 2008, in FORM IPS - I,—...

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Revenue, having accepted the order of the Tribunal in the first round, cannot raise those objections in the second round

Commissioner of Income Tax-II Vs Mantec Consultants (P) Ltd (Delhi High Court)

Although, no claim under Section 10A had been made before the Assessing Officer, the respondent/assessee had made such a claim before the Commissioner of Income-tax (Appeals). The assessee was fully justified in raising the claim under Section 10A of the said Act...

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Notification for Amendment in Notification for Medical Device

Notification No. VAT.1508/CR- 5/Taxation- 1 (27/11/2008)

No. VAT.1508/CR- 5/Taxation- 1 - In exercise of the powers conferred by sub-entry (8) of Entry 107 of schedule C appended to the Maharashtra Value Added Tax Act, 2002 [Mah IX of 2005], the Government of Maharashtra hereby amends the Government Notification, Finance Department, No.VAT-1505/ CR-233/Taxation- 1, dated the 23rd November, 2005...

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Notification about composition Scheme for Drug Retailers

Notification No. VAT.1507/CR- 55/Taxation- 1 (27/11/2008)

In exercise of the powers conferred by sub-section (1) of section 42 of the Maharashtra Value Added Tax Act 2002 [Mah IX of 2005] the Government of Maharashtra hereby amends the Government Notification, Finance Department, No. VAT-1505/CR- 105/Taxation 1 dated the 1st June 2005 as follows namely....

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In Times of Crisis, CAs In Demand Like Never Before

THE financial meltdown is expected to bring new opportunities for chartered accountants as companies will seek better control over their finances. So, if BSchools are a worried lot and preferences are fast changing from finance to consulting, the CAs are in demand like never before. Also, as per the ICAI top brass, while the financial sec...

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Posted Under: Finance |

MCA Forms under Goes – Varies Changes – Pl Note

Following forms going to be revised with effect from 6th Dec. 08:- new version of Form 1AA, 1AD, 2, 3, 5, 8, 10, 15, 17, 19, 20, 20A, 21,22B, 23, 23AA, 23AAA, 23AAB, 23AAC, 23B, 23C, 24, 24A, 24AB, 24B, 25A,25B, 25C, 35A, 36, 37, 39, 44, 49, 52, 61, 62, 63, 64, 65, CAR, DD-B,DD-C, Form PT-II, Form I & Form II will be available on the Port...

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Posted Under: Finance |

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