"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, CMA,

ICAI- Tax Suite software contains the Income Tax, TDS, Audit Reports, Project Report/ CMA, Form Manager, AIR (Annual Information Return), Service Tax and Document Management and will help the Practitioners & CA Firms in systematic operation of correspondence and documentation through ready to use templates, retrieval of documents and mult...

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Posted Under: Income Tax |