Sponsored
    Follow Us:

Archive: 19 August 2010

Posts in 19 August 2010

Receipt number to be quoted in Form 16/ 16A

August 19, 2010 3363 Views 0 comment Print

Receipt number to be quoted in Form 16/16A will be generated by TIN. Receipt number will be generated for the quarterly TDS/TCS statements pertaining to FY 2010-11 and onwards uploaded to TIN. Receipt number generated will be of eight digits (alphabets) and will be applicable only for statements pertaining to FY 2010-11 and onwards.

The Birth of New Private Banks

August 19, 2010 390 Views 0 comment Print

After Bank of Rajasthan – ICICI Bank merger, while more old banks may fall prey to such inorganic growth hunger of banks wanting to become bigger in short run, another major development going to be in the banking space is the entry of new private sector players in the banking arena.

FAQs Relating to Work Related Visas Issued by India

August 19, 2010 573 Views 0 comment Print

The Ministry of Home Affairs has recently issued another set of FAQs in relation to the type of visa to be issued to Foreign Nationals in relation to their work related visits. Such FAQs are in continuation of the earlier clarifications issued by it in October 2009 and subsequent Foreign National Worker Quota Guidelines (“FNWQ”) issued by Ministry of Labour and Employment and Training (“MLET”) in January 2010 and related press note released in May 2010.

Satyam Founder B Ramalinga Raju gets bail

August 19, 2010 552 Views 0 comment Print

Even as the Andhra Pradesh high court granted bail to B Ramalinga Raju, the prime accused in the Satyam Computers multi-billion-rupee scam, on Wednesday, citing his ill health as one of the reasons, doctors at the Nizam’s Institute of Medical Sciences in Hyderabad said that there was a significant improvement in his Hepatitis B condition.

A brief on Amendment in Foreign Trade (Development and Regulation) Act, 1992

August 19, 2010 7381 Views 0 comment Print

The Foreign Trade (Development and Regulation) Amendment Bill, 2010, (Sill’) has been passed by Rajya Sabha on 9 August 2010. The Bill seeks to amend the Foreign Trade (Development and Regulation) Act, 1992 (‘the Act’) which empowers the government to regulate trade in goods.

Urban land utilised for construction of a building with approval of prescribed authority is not subject to Wealth-tax under definition of "asset"

August 19, 2010 609 Views 0 comment Print

Once the non-productive asset like urban land is converted into a productive asset like a building which qualifies for exemption, then the assessee can start availing exemption even during the period of conversion of such non-productive asset to productive asset.

Warehouse is taxable Asset under section 2(ea)(i) of Wealth-tax Act

August 19, 2010 3012 Views 0 comment Print

We have also carefully examined the decision of Salvinder Singh 109 ITD 241 decided by respected co-ordinate bench wherein, the provisions of section 2(ea) of Wealth-tax Act were discussed and have noted that in that case the assessee had more than one commercial establishments or complexes at different places, so the assessee has owned more than one properly which was undisputedly in the nature of commercial establishments or complexes. Therefore, after ascertaining the very nature of the property as a commercial establishment the same was held as covered under the exception of

Government orders inspection of Koda-related front companies

August 19, 2010 639 Views 0 comment Print

The government has ordered inspection of account books of two companies allegedly linked to former Jharkhand chief minister Madhu Koda, who is already under the scanner of Income Tax and Enforcement Directorate in an illegal money laundering case.

GST Council not to Disturb or Alter Primacy of Legislature in the area of Taxation: FM

August 19, 2010 580 Views 0 comment Print

The Union Finance Minister Shri Pranab Mukherjee had a meeting with the Empowered Committee of State Finance Ministers to finalize the draft Constitutional Amendments on Goods and Services Tax, here today. Addressing the meeting, the Finance Minister emphasized that the primacy of the Legislature in the area of taxation is supreme and inalienable and that the proposed draft on GST did not seek to disturb or alter this in any manner.

FIPB approval proves Nexus of Hutch-Vodafone Deal with India

August 19, 2010 657 Views 0 comment Print

The Income-Tax department on Tuesday told the division bench of the Bombay High Court, hearing the Vodafone tax case, that approval from the Foreign Investment Promotion Board (FIPB) was critical to the $11-billion acquisition of Indian company Hutch Essar by Vodafone. FIPB is a nodal government agency that monitors foreign direct investments into the country.

Sponsored
Sponsored
Search Post by Date
October 2024
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
28293031