Banking and financial services companies the led corporate pack as advance tax payments for July –September grew by about 14 per cent, tax department sources said. Mortgage finance major HDFC paid about Rs. 400 crore as advance tax for the quarter, w
Central Board of Trustees (CBT) on Wednesday recommended a one percentage point hike in the interest rate on employee’s provident fund (EPF) to 9.5 per cent. This would make EPF the most lucrative risk-free tax savings option.The announcement came af
Notification No. 70/2010 Feedback/Comments may be sent to Chief Commissioner (TAR) within two weeks at adc_tar@yahoo.com. Hard copy of the same may follow. PREFACE The arrears of revenue have been piling up over the years due to which it has been felt necessary to compile a ‘Hand Book’ of all legal provisions , including instructions, […]
“Scandals and scams are known even when they are being planned and executed. If audit draws attention to them forthwith in a well-published manner, such scandals can be halted mid-stride. Post-mortems are good but they can be conducted only when a pa
September 13, 2010 The Council at its 296th meeting held on 29th, 30th June, and 1st July, 2010, while considering an issue raised by CA. Sanjay Kumar Agarwal under Item No.2, “Matters of General Interest to the Profession”, decided to constitute a Group under the convenorship of CA. Nilesh Vikamsey, to examine the matter of […]
Circular No. MRD/DP/ 31 /2010, dated 15-9-2010 – At least 50% of other than promoter holdings as per clause 35 of Listing Agreement are in dematerialized mode before shifting the trading in the securities of the company from TFTS to normal Rolling Settlement. For this purpose, the listed companies shall obtain a certificate from its Registrar and Transfer Agent (RTA) and submit the same to the stock exchange/s. However, if an issuer-company does not have a separate RTA, it may obtain a certificate in this regard from a practicing company Secretary/Chartered Accountant and submit the same to the stock exchange/s.
Your kind attention is invited to the Notification No.102/2007-Customs dated 14th September 2007 whereby exemption from Special CVD of 4% leviable under sub-section (5) of Section 3 of the Customs tariff Act, 1975 has been provided subject to the fulfillment of
S. O… (E) – In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Cus (N. T.), dated, the 3rd August 2001, namely: – In the said notification, for the Tabl
G.S.R. 762 (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification
Capital gains-Scope of section 50C-Extension of section 50C to purchaser-Section 50C creates a legal fiction for taxing capital gains in the hands of the seller and it cannot be extended for taxing the difference between apparent consideration and valuation done by Stamp Valuation Authorities as undisclosed investment under section 69. This fiction cannot be extended any further and, therefore, cannot be invoked by AO to tax the difference in the hands of the purchaser.
