"21 May 2011" Archive

Income Tax – Charges for data processing not ‘royalty’

Standard Chartered Bank Vs. The Dy. Director of Income Tax (ITAT Mumbai)

Recently ITAT Mumbai in the case of Standard Chartered Bank (Taxpayer) (ITA No. 3827/ MUM/ 2006) on the issue whether data processing charges paid by the Taxpayer would constitute 'royalty' under the Indian Tax Laws (ITL) and the India - Singapore Tax Treaty (Tax Treaty) held that the payments were made for use of a facility and not any p...

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Validity of sale deed executed by de facto guardian on behalf of minor without permission of court

Rangammal Vs Kuppuswami & Anr. (Supreme Court of India)

This appeal by special leave has been filed by the appellant Tmt. Rangammal against the order dated 11.07.2002 passed by the learned single Judge of the High Court of Judicature at Madras in Second Appeal No. 703/1992 by which the appeal was dismissed by practically a summary order although the substantial question of law which was formul...

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Download online ICSI Admit Cards June 2011 Session

ICSI Admit Cards June 2011 Session - The Institute of Company Secretaries of India . Click on the link below and enter your Registration Number to download your online Admit card for June 2011 Session...

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Posted Under: Income Tax |

Center approves 42K annual plan of maharashtra

Maharashtra's Rs.42,000 crore annual plan - an increase of over Rs.4,084 crore over last year's Rs.37,916 crore - for 2011-12 has been approved by the central government, an official said Friday. The plan was finalised at a meeting between Chief Minster Prithviraj Chavan and Planning Commission Deputy Chairman Montek Singh Ahulwalia in N...

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Posted Under: Income Tax |

Dr. Moily Addresses Round Table in St. Petersburg on ‘Legal Security of Business Transactions, Investments and Financial Instruments-New Challenges of the Global Crisis’

Impact Of Global Financial Crisis On India, Incidents Of Financial Crisis, Creation Of Cibil, Tax Re-Forms, Need To Regulate Foreign Investment , International Investments Treaties Vis-À-Vis India, The Commercial Division Of High Courts Bill, 2009, Introduction Of The Regulation Of Factor (Assignment Of Receivables) Bill, 2011, Amendment...

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Posted Under: Income Tax |

ITR-4- ITR-4S Download Free Online Software for A.Y. 2011-12

Income Tax department on 20.05.2011 releases official downloadable Online Income Tax Return Preparation / Filing Software- ITR-4 and ITR 4-5 Applicable for Assessment year 2011-12 / Financial Year 2010-11. Income Tax Department has already released software in repsct of IT -1, ITr-2 and ITR-3. Download ITR 4 and ITR-4S Excel Utility fo...

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Posted Under: Income Tax |

Form 16 & 16A for FY 2010-11 / A.Y. 2011-12

Download Form 16A and form 16 (Salary Certificate as applicable for A.Y. 2011-12 F.Y. 2010-11) and onwards in Excel Format alongwith Annexures for Government and non Government Employers. ...

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Posted Under: Income Tax |

Maharashtra Vat On Fabric – Fresh Confusion Part – II – VAT @ 4% / 5% is Chargeable On Fabric w.e.f. 1st April 2010- Know How?

While the intentions of the State Government are clear as to non levy of VAT on Fabric, but due to some misdrafting of the rules and notifications, the general public is put under severe confusion as to whether a specific levy is applicable to it or not. In the case of Fabric, the same is the situation. After all amendments, the position...

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Posted Under: Income Tax | ,

Circular on interpretation of the term ‘used outside India’ under Export of Services Rules for the period upto 27 February 2010

The Central Board of Excise and Customs ('CBEC') has issued a clarification vide Circular No 141/10/2011 - TRU dated 13 May 2011 ('Present Circular') with regard interpretation of the term used outside India under the Export of Services Rules, 2005 ('Export Rules') for the period upto 27 February 2010. Under the Service tax legislation f...

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Posted Under: Income Tax |

CBDT permits issue of TDS certificate for non-salary (Form 16A) income with digital signature

CBDT has recently vide Circular No. 3/2011 [F.No. 275/34/2011-IT(B)] (Circular) dated 13 May 2011 permitted issue of certificate for tax deducted at source (TDS certificate) with digital signature for TDS from income other than salary income (non-salary TDS) in Form 16A. The extant rules provide an option to persons withholding tax (ded...

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Posted Under: Income Tax | ,