"October, 2010" Archive - Page 29

Save tax up to Rs. 6000- Invest in Long Term Infrastructure Bond

Infrastructure Development Finance Company (IDFC), an integrated infrastructure finance company, has launched infrastructure bonds, giving a tax deduction of up to Rs 20,000 under Section 80CCF. The tax deduction will be above Rs 1,00,000 under Secti...

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Posted Under: Income Tax |

Centre unlikely to propose fresh constitutional amendments to facilitate the goods and services tax

The Centre is unlikely to propose a fresh set of constitutional amendments to facilitate the goods and services tax, or GST, having already bent backwards enough to accommodate concerns of the states....

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Posted Under: Income Tax |

India Norway agrees to exchange information on potential cases of tax evasion

India and Norway are all set to expand the scope of their double taxation avoidance agreement (DTAA) to facilitate greater information exchange on potential cases of tax evasion. After changes to the Indo-Swiss tax treaty this would be the second suc...

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Posted Under: Income Tax |

NSDL releases new Return Preparation Utility (RPU version 2.2) for FY 2010-11

NSDL has released new RPU 2.2 for e-TDS/TCS return preparation as well as correction statements. The key feature of new RPU 2.2 are as follows. Preparation of quarterly e-TDS/TCS statements (regular and correction) pertaining to FY 2010-11...

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Posted Under: Income Tax |

Dow Jones Climbed 11000 Mark

Congratulations to the speculators of the Wall Street. They made the US stock market to climb 11000 mark, filled the pockets of the Wall Street through the stimulus packages and the CEO of the companies made their bad assets recovered from the tax sa...

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Posted Under: Income Tax |

Commissioner of Income Tax versus Denso India Pvt. Ltd (Delhi High Court)

The Commissioner of Income Tax Vs Denso India Pvt. Ltd. (Delhi High Court)

ITAT was justified in law in holding that the amount of Rs. 63,46,000 paid by the assessee for acquiring technical know-how was allowable as revenue expenditure? The Tribunal was justified in its opinion that the payment made in question was allowable as revenue expenditure and not as capital expenditure allowable for deprecation under Se...

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Service Tax Second Amendment Rules 2010

Notification No. 50/2010-Service Tax 08/10/2010

Service Tax Second Amendment Rules 2010 – Exempts persons marketing the lottery tickets other than the distributors or selling agents appointed or authorised by the lottery organising State. NOTIFICATION NO 50/2010-Service Tax, Dated : October 8, 2010 In exercise of the powers conferred by section 93 of the Finance Act, 1994 (32 of ...

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Exemption from taxable service of marketing of lottery u/s 94 of Finance Act, 1994

Notification No. 49/2010-Service Tax 08/10/2010

NOTIFICATION NO 49/2010-Service Tax, Dated: October 8, 2010 In exercise of the powers conferred by sub-sections (1) and (2) of section 94 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the said Act) , the Central Government hereby makes the following rules further to amend the Service Tax Rules, 1994, namely […]...

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Classification of “CD ROM” containing images or drawings and designs of engineering goods

L.M.L. Ltd. Vs. Commissioner of Customs (Supreme Court of India)

It is further important to note the observation of the Hon'ble Supreme Court on the distinction between software, being a set of instructions allowing physical hardware to perform instructions and Data, which is information that does not perform any...

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Draft Listing Agreement for Securitized Debt Instruments

Securities and Exchange Board of India (SEBI) had notified the Regulations for Public Offer and Listing of Securitized Debt Instruments on May 26, 2008. The Regulations, inter alia, specified initial disclosure requirements for offer documents for pu...

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Posted Under: Income Tax | ,

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