The government is formulating a comprehensive land acquisition bill that will address concerns about process of acquiring land for purposes such as setting up SEZs and compensation to be paid. Replying to supplementaries during Question Hour, Minister of State for Agriculture K V Thomas said a group of ministers (GoM) was considering a bill to reform land acquisition law.
With an aim at faster clearance of trademark cases in the country, the government has sought public comments on amending the relevant rules to make them more significant and user friendly. “The Comptroller General of Patent, Design and Trade Marks (CGPDTM) intends to make a proposal for amendment of the Trade Mark Rules,” the CGPDTM said in a communication.
Customs department today charged Sterlite Industries with evasion of duty to the tune of several crores in export of copper waste. This is the second time in the last one month that Sterlite, the country’s largest non ferrous and mining company, has been accused of duty evasion.
“Too many cooks spoil the broth” perhaps this would have been in the thoughts of Group on Implementation of GST while analyzing the organizational structure for GST. This group is a committee constituted by the Government that has been framed to analyze all the aspects which will be affected by implementation of GST. On 12.07.2010, the Group has given their report. In this article, we are discussing the administrative changes proposed by the Group under GST regime.
I am very happy to read the judgment of Hon’ble Apex Court dated 13th August, 2010, in CONTEMPT PETITION (CRL.) NO.9 OF 2009 in CONTEMPT PETITION (CRL.) NO.15 OF 1997 between Indirect Tax Practitioners Association and R.K.Jain.
On July 24, 2010, the Finance Minister released Citizen’s Charter — a declaration of Income-Tax Department’s commitment to taxpayers. In this Charter, one of the commitments is to make compliance easy. In this background, one of the members of the CBDT has issued a D.O. letter dated June 18, 2010 to all Chief Commissioners of Income Tax, concerning giving credit for tax deducted at source (TDS). At present, a large number of lower- and middle-income taxpayers face the problem of their refunds being withheld.
Even as America’s new Border Security Act raises hackles in India, government officials said the country will renew efforts to push for exemption of social security tax paid by top tech firms including TCS, Infosys and Wipro in the US. India’s $50-billion software outsourcing industry pays around $1 billion every year towards social security taxes to the US government, according to Nasscom.
The former President of the Institute of Chartered Accountants of India (ICAI), Mr T.N. Manoharan, has sought the need for equitable treatment of tax payers and revenue authorities in the Direct Taxes Code (DTC). In his discussion paper on ‘DTC’ at the national conference on Direct Taxes and Allied Laws, organised by the Direct Taxes Committee of the ICAI, Mr Manoharan said the certain provisions in DTC are tilted in favour of revenue.
Taxpayers may get relief in terms of tax rates in the proposed Direct Taxes Code, which is likely to replace the 50-year-old Income Tax Act from the next fiscal, a key official indicated today. “We are in the process of reducing the rate of tax and DTC will be a good example in that direction,” Central Board of Direct Taxes (CBDT) Chairman S S N Moorthy said at an Assocham tax conference.
Candidates who have tried to submit the online Examination Application for the forthcoming for Chartered Accountants Examinations, November 2010 and whose online payment through Credit Card / Debit Card / Netbanking has been effected but online PDF Format could not be generated, are advised to purchase a physical application form, complete the details required and send the same along with the physical proof for the online payment (which has not been reversed):
