"28 June 2010" Archive

Exchange of expensive gifts and jewellery items during wedding marriage ceremonies liable to taxmen scrutiny

Exchange of expensive gifts and jewellery items during wedding marriage ceremonies are liable to taxmen scrutiny, said a city court. It also said that immovable assets as gifts would require mandatory authentic registration....

Posted Under: Income Tax |

Quick review by government needed in respect of Income Tax Concession to SEZ

The special economic zone (SEZ) scheme seems to be in trouble. The revised draft of the Direct Taxes Code does not envisage continuation of the income-tax concessions for units that may be set up after the end of the current financial year....

Posted Under: Income Tax |

Gems, Jewellery industry bodies oppose proposed Direct Taxes Code

The national body for jewellery trade the All India Gems & Jewellery Trade Federation (GJF) and apex industry body Gems and Jewellery Industry (GJI) have opposed the proposed Direct Taxes Code. Both the industry bodies have also made representations to the Finance Ministry to seek modifications in the DTC....

Posted Under: Income Tax |

ICSI Enters Memorandum of Understanding With CBEC

A Certified Facilitation Centre (CFC) is a facility, other than the physical front offices or Facilitation Centres of CBEC, which may be set-up and operated by a practicing Company Secretary (PCS) to whom a certificate is issued under the ACES project, where the assessees of Central Excise and Service Tax can avail the facility to file th...

Posted Under: Income Tax |

IRS official suspended for leaking Income Tax papers

Mumbai: An income tax (I-T) raid on a high-profile businessman, reportedly tipped off by a family member, has resulted in the suspension of an additional commissioner. Indian Revenue Service (IRS) officer Shantam Bose was suspended last month after confidential IT documents were found at the residence of Dev Ahuja, promoter of Centurion B...

Posted Under: Income Tax |

Will Every Act of Mis-Management Give A Right to Seek Relief U/s. 397/398 of Companies Act, 1956?

It is true that the Board of directors in a Company is supposed to act in the best interest of the Company as they are answerable to the Share-holders and submits a report in the Annual General Body Meeting (AGM). In every Company, normally, the majority in the Board consists of the representatives of the majority shareholders though it i...

Posted Under: Income Tax |

Notification No. 38/2010-Service Tax dated 28th June, 2010

Notification No. 38/2010-Service Tax 28/06/2010

exempts the taxable service of commercial or industrial construction referred to in sub-clause (zzq) of clause 105 of section 65 of the Finance Act, when provided wholly within the port or other port, for construction, repair, alteration and renovation of wharves, quays, docks, stages, jetties, piers and railways, from the whole of servic...

Notification No. 37/2010-Service Tax, Dated-28th June, 2010

Notification No. 37/2010-Service Tax 28/06/2010

Notification No. 37/2010-Service Tax Service provided by airports authority or any other person in any airport in respect of the export of said goods....

Regarding exemption to certain taxable services-Notification No. 36/2010 – Service Tax

Notification No. 36/2010 - Service Tax 28/06/2010

Notification No. 36/2010 - Service Tax exempts the taxable services specified in clause (A) of section 76 of the Finance Act, 2010 (14 of 2010) other than services referred to in clause (zzc) and (zzzz) of sub-section (105) of section 65 of the Finance Act from so much of the service tax leviable thereon under section 66 of the Finance Ac...

Amendment in the circular No.01/2010-Cus. dated 11.1.2010-Circular No. 14 /2010-Custom

Circular No. 14/2010-Custom Duty 28/06/2010

The date mentioned in para 2(a) of the above circular may be read as 31.03.2011 instead of 31.12.2011. There is no change in other conditions of the circular.These instructions may be brought to the notice of the trade / exporters by issuing suitable Trade / Public Notices. Suitable Standing orders/instructions may be issued for the gui...

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