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Archive: January, 2011

Posts in January, 2011

New President and Vice-President of ICSI for 2011

January 20, 2011 606 Views 0 comment Print

New President and Vice-President of ICSI for 2011 CS Mr Anil Murarka FCS-3150 CS Mr Nesar Ahmad FCS-3360

Govt tells SC it can probe only 18 accounts out of Information received from LGT bank of 26 Accounts

January 20, 2011 474 Views 0 comment Print

Germany gave information about 26 accounts held by Indians in LGT Bank, but tax evasion proceedings could be initiated against only 18 resident citizens, the Centre informed the SC on Wednesday. The Centre handed a sealed report containing the name

360 cr found in raids on IAS couple

January 20, 2011 970 Views 0 comment Print

Owns 25 Flats, Over 10Kg Gold, 400 Acres Of Land Besides Other Investments In ‘bimaru’ Madhya Pradesh, bank lockers of bureaucrats and government officials are bursting with cash and gold. An IAS couple here owns 25 flats and 400 acres of land besi

Citibank fraud -Income Tax department summons duped HNIs

January 20, 2011 636 Views 0 comment Print

The Income Tax department has summoned some high-networth individuals (HNIs), who were allegedly duped in Rs 400 crore fraud at Citibank, to obtain details of their investments and tax payments. Sources familiar with the development said the departme

Govt may soon announce Voluntary Disclosure of Income Scheme (VDIS)

January 20, 2011 831 Views 0 comment Print

To crack down on black money, the revenue department is contemplating a scheme to unearth such funds. The options under consideration include a tax amnesty scheme to get back ill-gotten wealth parked overseas.While I-T officials said that a scheme to

TDS Credit Right of Payee- The Refund Made To the Tax Deductor, Even If Wrongful, Has No Adverse Impact on the Rights of the Assessee

January 20, 2011 1009 Views 0 comment Print

Learned CIT(A) erred in not directing the AO to unconditionally grant full tax credit to the appellant f or the taxes deducted at source by Reliance Infocomm Limited of Rs 24,41,58,046 and, consequently, grant refund of the said amount as the entire addition made by the AO was deleted by the CIT(A). – learned CIT(A) erred in not directing the AO to unconditionally grant credit, and, consequently, refund for a sum of Rs. 21,26,74,006, being the TDS deducted by the payer, in respect of which the original TDS certificates were submitted by your appellant with the AO during the course of assessment proceedings.

MVAT Notification for Mandatory e-payment for Six Monthly returns w.e.f. 31.03.2011

January 20, 2011 628 Views 0 comment Print

NOTIFICATION FINANCE DEPARTMENT Mantralaya, Mumbai 400 032 dated the 20th December, 2010 (M.G.G. Extraordinary No. 175, Part IV-B, at Page No, 2, dated the 20th December, 2010) Maharashtra Value Added Tax Rules, 2005 No. VAT.1510/CR.165/Taxation-l- In pursuance of the powers conferred by clause (a) of rule 45A of the Maharashtra Value Added Tax Rules ,2005 […]

MVAT Notification for Amendment in Rule 54

January 20, 2011 2956 Views 0 comment Print

NOTIFICATION FINANCE DEPARTMENT Mantralaya, Mumbai 400 032, dated the 20th December 2010 (M.G.G. Extraordinary No, 176, Part 1V-B, at Page No. 3, dated the 20th December, 2010) Maharashtra Value Added Tax Act, 2002 No.VAT.1510/CR.109-A/Taxation-l.-Whereas, the Government of Maharashtra is satisfied that circumstances exist which render it necessary to take immediate action further to amend, the […]

Brief on Guidelines for mutual fund investments made through Third party and Cheque from other banks

January 20, 2011 2740 Views 0 comment Print

A cheque issued by and signed by any other person other than the first holder of the investment is a third-party cheque. When a payment is made from a bank account that is not held by the beneficiary investor, that is, the first Holder or the sole Ho

Satyam auditors asked to appear before Sebi on Feb 5

January 20, 2011 405 Views 0 comment Print

Market regulator Sebi today refused to stay proceedings against Price Waterhouse (PW) partners S Gopalakrishan and Srinivas Talluri for their alleged involvement in the Satyam fraud case and asked them to appear before it on February 5.

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