India may have to wait till at least next year for information from Switzerland on possible black money trail to Swiss banks, as a treaty for the same might come into force only by the end of 2011. The treaty needs to be ratified by various authori
On the back foot over black money, the UPA has turned to its chief trouble-shooter Pranab Mukherjee to explain the government’s plan for retrieving billions of dollars stashed in Swiss banks and other European tax havens. “The government has noth
In its order, the Court, while dismissing the writ petitions filed by Indian Rare Earths Ltd, Manavalakurichi, Kanyakumari District, a Government of India undertaking, challenging, inter alia, the common order dated September 23, 2005 of the Regional
Based on a complaint lodged by a Raipur-based Transport Contractor, a case was registered against Manager (House Keeping), Food Corporation of India, Raipur (CG) U/s 7 of Prevention of Corruption Act, 1988. It was alleged in the complaint that the ac
The Central Bureau of Investigation has filed a charge sheet against the then Branch Manager, Union Bank of India, Avenue Road Branch, Bangalore (Accused-1); Manager (Technical), Union Bank of India, Nodal regional Office, Bangalore (Accused-2); Mana
A chartered accountant (CA) and her three accomplices were arrested by the MIDC police after they applied for loans against the same house from two banks. Anita Chaudhary, Anil Shelar, Shrisheila Sandimantri and Suresh Joshi have been booked on charg
Speaking on the sidelines of an international taxation conference here on Monday, Chopra said, “There were promoter shareholders, executive directors and directors, and the auditors were the last rung. On the other side, there were independent direct
Out of the 16 numbers on a typical credit card, the set of first 6 digits is known as the issuer identifier number (read this for details), and the last digit is known as the “check digit” which is generated in such a way as to satisfy a certain cond
It is to be noted here that the claim made by the assessee under section 158-A will not however preclude the Assessing Officer from making an order disposing of the relevant case without awaiting the final decision on the question of law in other case. When the decision on the question of law becomes final, it shall be applied to the relevant case and the Assessing Officer and the appellate authority shall amend the order earlier passed, if necessary in view of the final decision on the question of law in the other case.
The above decision stipulates that levying of interest for default in payment of advance tax was inescapable. Accordingly, provisions of section 234B/234C are applicable also to companies which are required to pay tax on book profits.
