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Archive: 19 April 2011

Posts in 19 April 2011

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6717 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Finmin favours re-negotiation of tax treaty with Mauritius

April 19, 2011 979 Views 0 comment Print

The Finance Ministry favours re-negotiation of the tax treaty with Mauritius so that India could have access to banking details, besides tax-related information. With a view to prevent generation of black money and stop re-routing of funds through Mauritius, the Finance Ministry has recently asked the Ministry of External Affairs to tighten the Double Taxation Avoidance Agreement (DTAA) between the two countries.

Frequently Asked Questions on ICSI-USE MOU

April 19, 2011 982 Views 0 comment Print

What is United Stock Exchange of India? United Stock Exchange of India Limited (USE) is India’s newest stock exchange and has been promoted by 21 Indian public sector banks, private banks and corporate houses. USE is the trading platform for Currency Futures now.

PIL filed in SC challenging inclusion of five civil society members in Lokpal Bill committee

April 19, 2011 916 Views 0 comment Print

Advocate M L Sharma and others have moved the court contending that inclusion of five civil society members in the committee, which also has five ministers, is constitutionally flawed as a parliamentary committee must comprise only members of parliament and no one else.

All Income Tax refunds to be issued by 30th April – CBDT

April 19, 2011 582 Views 0 comment Print

After having made 8.23 lakh refunds already in the first half of this month, the Income Tax Department today said it will settle all the pending claims in April itself. Refunds of Rs 78,000 crore to about 85 lakh assesses were made in 2010-11.

Payment to US companies for ‘developing tooling’ and ‘validating new process for manufacture’ of wheels is taxable as fees for included services

April 19, 2011 649 Views 0 comment Print

Recently, the Chennai bench of the Income-tax Appellate Tribunal in the case of Wheels India Ltd. v. ACIT I.T.A No. 1793/Mds/2006 (Chennai) held that payment made to US companies for ‘developing tooling’ and ‘validating new process for manufacture’ of wheels for commercial vehicle was ‘fees for included services’ as per Article 122 of the India-USA tax treaty.

SC – Right to property is a constitutional right

April 19, 2011 708 Views 0 comment Print

The Supreme Court today said the right to property is a constitutional right and government cannot deprive a person of his land in an arbitary manner. A bench of justices G S Singhvi and A K Ganguly said in a judgement that courts should view with “suspicion” the action of the government in acquiring land for private parties in the name of urgency.

SEBI – Renewal of recognition to Ludhiana Stock Exchange

April 19, 2011 553 Views 0 comment Print

NOTIFICATION NO. LAD-NRO/GN/2011-12/02/12648, DATED 19-4-2011 – Section 4 of the Securities Contracts (Regulation) Act, 1956 – Recognized Stock Exchanges – Grant of recognition to stock exchanges – Renewal of recognition to Ludhiana Stock Exchange Ltd.

Income from share transactions of the partners cannot be assessed as those of the firm acting as broker of Partners

April 19, 2011 723 Views 0 comment Print

Pannalal Kejriwal Vs CIT (Calcutta High Court)- Whether in the facts of the present case the transactions relating to the shares of ITC Ltd. and Tata Tea Ltd. on behalf of the two partners where the assessee-firm apparently acted as broker could be said to be the transaction on behalf of the assessee-firm itself and the profit of the two partners can be added to the income of the assessee-firm.

Indian firms make profit of Rs 6 lakh per employee

April 19, 2011 1761 Views 0 comment Print

Indian companies pay a salary of Rs 4.8 lakh to each of their employee on an average, but earn a profit of Rs 6 lakh per employee in return, says a new survey. According to a study by Pricewaterhouse Coopers (PwC) — Measuring Human Capital – Driving Business Results — organisations in India pay an average remuneration of Rs 4.8 lakh and earn Rs 6 lakh of profit per employee, which makes the human capital return ratio on investment to 1.79 for organisations in the country.

ICWAI Revision Test Papers(RTP) for June 2011 Exams

April 19, 2011 4534 Views 0 comment Print

Download ICWAI Revision Test Papers(RTP) for JUNE 2011 EXAMS. Links of ICWAI RTPs : Group 1- Download. Group 2- Download. Group 3- Download. Group 4- Download.

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