When the first draft of the Direct Taxes Code (DTC) was released in August 2009, the provision dealing with Minimum Alternate Tax (MAT) was one of the most discussed and deliberated provision. It proposed to levy tax on the gross value of assets. There were certain drawbacks and limitations which were pointed out to the government, as a result of which, the government decided to reinstate the earlier regime of levying MAT on book profits. However, after reading the proposed MAT provision in conjunction with the entire code, one is left wondering whether it will turn out to be a boon or a bane to taxpayers in India.
The Finance Ministry is believed to have agreed to modify its notification for exempting from tax the entire 9.5 per cent interest on provident fund deposits for 2010-11, and will soon announce the good news for EPFO’s six crore depositors.
# Booked: Challan / transfer voucher detail in the statement matches with corresponding details received from banks / PAO. # Match Pending: Corresponding challan details not received from the bank. # Match Failed (Challan): TAN and/or amount relating to a challan in the statement do not match with the corresponding details received from banks. # Match Failed (Transfer Voucher): Amount relating to a transfer voucher does not match with corresponding details received from PAO.
Sub: Extension of Common Proficiency Course (CPC) registration date till 4th October, 2010. In view of the closure of banks on account of half yearly closing on 30th September, 2010, last date for registration to Common Proficiency Course (CPC) is extended upto 4th October, 2010 for being eligible to appear in the Common Proficiency Test […]
As per the Chartered Accountants Regulations, 1988 a candidate shall be registered for the Common Proficiency Test (CPT) if he has passed class 10th examination conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto. Further, no candidate shall be admitted to the Common Proficiency Test (CPT) unless he is registered with the Board of Studies of the Institute and has appeared in the senior secondary examination (10+2) conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto and has complied with such requirements as may be specified by the Council from time to time.
The three judges – two Hindus and a Muslim – of the Lucknow bench of the Allahabad High Court who Thursday authored the long-awaited verdict on the Babri Masjid-Ramjanmabhoomi dispute:
