"01 February 2011" Archive

Summary of Provisions Relating To Refunds under Punjab Vat Act 2005

Refund under Punjab VAT Act 2005 may arise due to many reasons. VAT Refund usually arises to the exporters or the person doing penultimate export i.e. sales against H forms, due to the fact that the export of goods outside India is considered as zero rated sales i.e. not liable for any vat liability and the tax paid on purchase of goods w...

Download Income Tax Form 3CB (Tax Audit Report) in Excel Format

Audit report under section 44AB of the Income-tax Act, 1961, in the case of a person referred to in clause (b) of sub-rule (1) of rule 6G Downloads Income Tax Form 3CB in Excel...

Download Income Tax Form 3CA in excel format

Audit Report under section 44AB of the Income-Tax Act, 1961, in the case where the accounts of the business of a person have been audited under any other law. Downloads Download Income Tax Form 3CA in Excel...

Tax credit for tax withheld cannot be denied to the payee upon subsequent refund of the TDS to the deductor

Lucent Technologies Grl Llc Vs DCIT (ITAT Mumbai)

It is pertinent to note that the Central Board of Direct Taxes had issued Circular No. 7/2007 dated 23 July 2007 which provides the procedure and circumstances for refund of tax deducted at source under section 195 of the Act to the tax deductor. How...

Acquisition and Transfer of Immovable Property in India by a Person Resident outside India- FAQs

Acquiring immovable property in India by persons resident outside India is regulated in terms of Section 6(3) (i) of the Foreign Exchange Management Act (FEMA), 1999 as well as by the regulations contained in Notification issued by RBI viz Notificati...

B/F losses for making adjustment to book Profit U/s. 115JB means losses on last day of immediately preceding year

CIT Vs. Sumi Motherson Innovative Engineering Ltd. (Delhi High Court)

For the purposes of section 115JB of the Act, the term gloss brought forward' can only mean losses on the last day of the immediately preceding year and no other meaning can be given to it. In the case of CIT v. Sumi Motherson Innovative Engineerin...

CPT On-line examination in year 2011- ICAI not declared any date due to technical issues

It is hereby informed that the Institute is currently in the process of addressing certain technical issues for fulfilling the long felt need of students for augmenting the number of seats/venues for conducting CPT On-line examination. As soon the ...

D K Mittal appointed Corporate Affairs Secretary

D K Mittal, a 1977 batch IAS officer of UP cadre, has been appointed as the Secretary of the Ministry of Corporate Affairs today. Mittal will replace R Bandyopadhyay who retired today. At present, Mittal is the Additional Secretary in the Departmen...

Hyper-technicalities give bad name to judiciary

An order of the consumer commission can be executed by a civil court and hyper-technicalities should not stand in the way, the Supreme Court stated last week in the judgment, HKK Bail vs Cyma Exports (P) Ltd. In this case, a person filed a complaint ...

Govt constitutes Panel to explore self disclosure of income

The government has constituted a group of experts to suggest measures to encourage tax evaders to disclose their unaccounted income voluntarily.The finance ministry's move comes at a time when the country is debating a crackdown on black money.The la...

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