"23 March 2010" Archive

Notification No.19/2010-Service Tax dated 23rd March,2010

Notification No. 19/2010-Service Tax 23/03/2010

Amendments in the notification of the Government of India, Ministry of Finance, Department of Revenue, No. 19/2007-Service Tax, published vide number G.S.R. 354(E), dated the 12th May, 2007...

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Notification No.18 /2010-Service Tax dated 23rd March, 2010

Notification No. 18/2010-Service Tax 23/03/2010

In the said notification, in the TABLE, against the entries relating to Sl.No. 17 in column (3), after the words Mumbai Service Tax, the words, Service Tax Mumbai-I, Service Tax Mumbai-II shall be inserted....

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Increase in amount of weighted deduction for scientific research: Budget 2010

Under the provisions of section 35, a person carrying on business or profession, is entitled to the deduction of the expenditure (revenue as well as capital) incurred by it on scientific research. In specified cases, the weighted deduction is given to the person incurring the expenditure. For providing further impetus to the activities of...

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Posted Under: Service Tax |

Filing of returns by Research Association and associations carrying out statistical research: Budget 2010

Extensive provisions have been made in the Finance Bill, 2010, for expanding the scope of benefits given to the research so as to embrace non-scientific research (social science) and statistical research. Parity has been provided for the social science and statistical research with scientific research....

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Posted Under: Service Tax |

ICAI seek more legal power to initiate stringent disciplinary measures against erring auditors/CAs on fast track basis

Institute of Chartered Accountants of India (ICAI), the statutory body regulating chartered accountants in India, has now demanded amendment of some section of the law, which guides them. The whole idea is to seek more legal power to initiate stringent disciplinary measures against erring auditors/CAs on a fast track basis, G Ramaswamy, t...

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Posted Under: Service Tax | ,

India-Mauritius treaty benefits cannot be denied on the ground that assessee is a subsidiary of a USA Corp

E. Trade Mauritius Ltd. (Authority for Advance Rulings)

The applicant, a resident of Mauritius, was a subsidiary of a USA company. It received capital contribution and loans from the USA parent which were used to purchase shares in ILFS, an Indian company. On sale of the shares, the applicant earned capital gains which were chargeable to tax under the Act....

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Automation of Central Excise and Service Tax (ACES)

Central Board of Excise and Customs has introduced "Automation of Central Excise and Service Tax” (ACES) to improve tax-payer services. ACES is a centralized web based application which enables the assesses to electronically interface with the department. It aims to reduce paperwork, manual interface, transaction costs and increase acco...

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Posted Under: Service Tax |

Empanelment of Schools/ Educational Institutions for holding Chartered Accountants Examinations

The ICAI requires additional Schools/ Educational Institutions with good infrastructure and facilities in addition to the existing Examination Centres to hold Chartered Accountants Examinations. Interested parties may see the terms & conditions on our website: www.icai.org. The existing Schools/ Educational Institutions which are already ...

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Posted Under: Service Tax |

Announcement for Attention of members-Bank Audits for FY ended 31.03.2010

Bank Audits for the FY ended 31.03.2010:-The bank audit season is around the corner. Banking being an industry typical in terms of its geographical and customer spread, volume of transactions as well as the types of products and services offered coupled with the time constraints for completing the audits, the members face a number of issu...

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Posted Under: Service Tax |

Online Empanelment as concurrent auditor with Dena Bank from 25/03/2010 to 15/04/2010

We have pleasure in informing you that Dena Bank has invited online applications for empanelment for Concurrent Audit assignment for the year 2010 - 11. The registration for the same will be open on our there website www.denabank.com from 25.03.10 to 15.04.10....

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Posted Under: Service Tax |

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