"02 September 2011" Archive - Page 2

Preference Share Redemption not taxable as deemed dividend & amounts to ‘transfer’

Parle Biscuits Pvt. Ltd. Vs ACIT (ITAT Mumbai)

Parle Biscuits Pvt. Ltd. Vs ACIT (ITAT Mumbai)- It is held that redemption of preference shares amounts to 'transfer' of a capital asset under the Income-tax Act and any loss on redemption thereon would thus be allowable as a capital loss. ...

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E-filing of Service tax returns compulsory w.e.f. 1st October 2011

As per the Notification, with effect from 1 October 2011, it is mandatory for all the taxpayer, (irrespective of their Service tax liability in the preceding year) to file the Service tax returns electronically. Accordingly, all returns filed on or after 1 October 2011 will be required to be filed electronically. These will not only cover...

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Posted Under: Income Tax |

Regarding Self-Assessment in Customs

Circular No. 39/2011-Custom Duty (02/09/2011)

Vide Finance Act, 2011, ‘Self-Assessment’ has been introduced under the Customs Act. Under ‘self-assessment’, responsibility of filing correct declaration lies with the importer or exporter. The declaration filed by the importer or exporter may be verified by the proper officer when so interdicted by the Risk Management systems ...

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Free Software for Income Tax, TDS, Audit Reports, Project Report/ CMA, Form Manager, AIR, Service Tax

The Committee for Capacity Building of CA Firms and Small & Medium Practitioners, has launched the ICAI- Tax Suite on 1st July, 2011 by Hon’ble CA. K. Rahman Khan, Deputy Chairman of Rajya Sabha, Parliament of India. ICAI-Tax Suite software has been uploaded in the Committee website www.icai.org.in, so that members can easily download, ...

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Posted Under: Income Tax |