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Archive: 26 June 2010

Posts in 26 June 2010

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7167 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Guideline to Income Tax Dept on Form 26AS

June 26, 2010 1562 Views 0 comment Print

D.O. No. FTS-799468/2010- MEMBER (R) You may be aware that the Tax Credit Statement (in Form 26AS) in respect of each PAN holder is being compiled by the Income Tax Department on real time basis. Such statements are available for online view to the PAN holder, to enable him/her to take timely corrective steps in case of missing gaps. It is thus considered desirable to increase the awareness about the same among all sections of society.

Service Tax on Builder-Amendments effective from 1st July 2010

June 26, 2010 21625 Views 0 comment Print

The following major changes have been made for real estate builders post the Finance Act 2010, which are made applicable from 1.7.2010. It may be noted that the said amendments would be effective only from this date onwards. The following are these amendments:

Income Tax department will soon launch Internet-based grievance redressal system for taxpayers

June 26, 2010 800 Views 0 comment Print

The Income Tax department will soon launch an Internet-based grievance redressal system for taxpayers to lodge their complaints with taxman. The new online facility will also enable taxpayers to register their complaints and put applications to the I-T Ombudsman present in 12 cities across the country including Mumbai and Delhi, the two topmost tax paying regions respectively.

Service Tax on Construction of Residential & Commercial Premises – FAQ

June 26, 2010 67815 Views 0 comment Print

What changes have been effected by the Finance Bill, 2010 with respect to construction of commercial / industrial premises and residential complexes?Following changes have been carried out by the Finance Bill, 2010.

Government sought amendments in its treaty with Mauritius, offered cash compensation for revenue loss on account of changes

June 26, 2010 273 Views 0 comment Print

In a bid to plug the tax loophole foreign investors use by routing their money to India through Mauritius, the government has sought amendments in its bilateral treaty with the island nation and offered cash compensation for revenue loss on account of the changes.

STT may not be scrapped under the DTC Regime

June 26, 2010 402 Views 0 comment Print

The securities transaction tax (STT) is here to stay even under the proposed new regime for direct taxes slated to come into force from April 1 next year. But the rate of STT now hinges on the firming up of a revised taxation regime for capital gains and the flow of funds to the capital market, a senior Finance Ministry official said.

Andhra high court grants bail to auditors in Satyam case

June 26, 2010 231 Views 0 comment Print

Price Waterhouse auditor S. Gopalakrishnan and Satyam’s former internal audit head V.S. Prabhakar Gupta are accused of conniving with B. Ramalinga Raju, the software company’s founder, in the Rs7,136 crore fraud that came to light in January 2008.

Applicability of Service tax on Railway freight deferred to 1st Jan 2011

June 26, 2010 285 Views 0 comment Print

In what is seen as a bid to prevent further inflation spiral in the economy, the Finance Ministry has once again deferred the implementation of service tax levy on transport of goods by rail. The levy will now come into effect from January 1 next year.

Service Tax applicable on 8 new services to come into effect from July 1 2010

June 26, 2010 3172 Views 0 comment Print

The Finance Ministry has specified July 1 as the date from which service tax levy would be applicable on the eight new services brought under the tax net in Budget 2010-11. The eight new services include services of promoting, marketing or organising of games of chance, including lottery, health services undertaken by hospitals for employees of business organisation and health services provided under health insurance schemes offered by insurance schemes, services provided for maintenance of medical records of employees of a business entity and promoting a ‘brand’ of goods, services, events and business entity etc.

Income tax department will monitor earnings from carbon credits

June 26, 2010 318 Views 0 comment Print

Corporate earnings from trading in certified emission reduction or carbon credits has caught the eyes of income-tax department. Tax authorities plan to closely look at companies found active in carbon trading after finding non-payment of taxes on such earnings.

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