The basic charter of Ministry of Corporate Affairs is to promote the growth of the Indian corporate sector through enlightened regulation. To enable formulation of enlightened regulations that provide a framework for the corporate sector and its stak
Latest and fully updated TDS Rates / TDS Chart for A.Y. 2011-12 / Financial Year 2010-11 with all the amendments till the date of publication of this article is given below. In Budget 2010 TDS rates has not been changed but cut off amount has been pr
A list of such product groups showing the percentage decline in exports during 2009-10 as compared to 2008-09 is enclosed. All RAs are requested to re-fix the annual average export obligation for EPCG Authorizations for the year 2009-10 accordingly.
An unnecessary complication has been created by the interpretation made of section 40 (a) (i) of the Income Tax Act read with section 195 of the Act by both the appellant and the respondents. First of all, a proper meaning has to be ascribed to the expression “chargeable” under the provisions of this Act. Section 195(1) says that, if any interest is paid by a person to a foreign company, which interest is chargeable under the provisions of this Act tax should be deducted at source.
It is submitted that destination charges or ground handling charges were collected by MSIL for storage and warehousing service in relation to the clearance of goods. The service formed an integral part of service relating to clearance of goods and the charges were towards storage and warehousing.
The income tax department has ordered a special audit of the accounts of Commonwealth Organising Committee after detecting multiple violations of procedures. A detailed analysis of books of accounts was required to ascertain the extent of non-compliance by the committee, a tax department official told to media.
The income tax (I-T) department is still waiting for members of Adarsh Cooperative Housing Society to submit details of the investment they have made in flats in the 31-storeyed tower. The department had issued notices to the Colaba housing society’s members asking six questions related to their flats, the investment made in them and other details such as tax returns filed and Permanent Account Numbers (PAN).
An Enforcement Directorate raid on a sister concern connected with the Commonwealth Games scam is not a ground to terminate a contract, a division bench of the Delhi high court has declared. The Apparel Export Promotion Council had invited tenders and offered the contract for the February 2011 textile fair to an events management company, Meroform (India) Ltd. Later there was a telecast in private channels that its sister company was raided in scam investigation. Citing this telecast, the council declined to give the contract to the events management company, though large amounts were spent by it. It moved the high court challenging the termination of the contract. The court stated that the council’s decision was illegal. However, it did not grant any monetary relief to the affected company and pointed out that the remedy lay in the civil court.
No.F. 5(54)/Policy-II/VAT/Amendment/2010/ 1790-1800 -WHEREAS the Commissioner, Value Added Tax, Dept. of Trade & Taxes, Govt. of the National Capital Territory of Delhi, being of the opinion that it is expedient in the interest of general public, so to do in exercise of the powers conferred by section 103 of the Delhi Value Added Tax Act, 2004, (Delhi Act 3 of 2005), amended Act, 2009 (Delhi Act 01 of 2010) hereby, makes the following amendments in the Sixth Schedule of the Act, namely:-
Election to the 11th Council of the ICSI held on 10th & 11th December, 2010 – Notification regarding declaration of result
