"01 June 2012" Archive

Various Amendments in Maharashtra Value Added Tax Rules, 2005

Notification No.VAT-1512/CR-61/Taxation-1 (01/06/2012)

(c) assessing authority means any authority competent to assess or audit or exercise or perform all or any of the powers and functions conferred on, or assigned, under this Act or as the case may be, has been delegated by the Commissioner and within whose jurisdiction the place of business or, as the case may be, the principal place of bu...

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Can do little to arrest rupee fall – RBI

The Reserve Bank of India (RBI) has said that it could do little to arrest the fall of rupee if the decline was caused by fundamental weakness of the economy or due to global factors. Speaking to reporters in Mumbai on Friday, RBI Deputy Governor KC Chakrabarty said in such a case, RBI could only take more calibrated steps in the forex ma...

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Notification No. 18/2012-Service Tax, Dated: 01.06.2012

Notification No. 18/2012-Service Tax (01/06/2012)

Notification No. 18/2012-Service Tax The following sections will become ineffective from 1st day of June, 2012 1. Section 65 – Definition of Taxable Service 2. Section 65A – Classification of Taxable service 3. Section 66 -Charge of Section Tax 4. Section 66A – Charge of Service Tax on Services received from outside India...

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Budget 2012-Amendments in Service Tax – W.E.F. 28/05/2012

Please note that Hon'ble President has given her assent to the Finance Bill, 2012 and got enacted as Finance Act(No 23 of 2012) on May 28,2012. We have summarized various statutory provisions have been made applicable w.e.f. 28-05-2012....

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Article on inserting of explanation 6 in sec 9 (1) (vi) proposed in Finance bill 2012

Explanation 6.—For the removal of doubts, it is hereby clarified that the expression ‘process’ includes and shall be deemed to have always included transmission by satellite (including up-linking, amplification, conversion for down-linking of any signal), cable, optic fibre or by any other similar technology, whether or not such pro...

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Induction of upgraded LLP e-Governance in MCA21 and non-availability of LLP services for 10 days from 1st June, 2012

In Our Continued Endeavor To Enhance The Services To Stakeholders, MCA Announces Launch Of Upgraded LLP Registry From 11th June 2012. Stakeholders- Will Now Have Facility Of Online Payment From All Banks Through NEFT Or Use Internet Banking From Six Designated Banks Of MCA21, In Addition To Credit Card Payment....

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CBI Arrests DGM of SEBI & Middleman in Bribery Case

It was alleged in the complaint that the complainant, a proprietor of a firm based in Ahmedabad & engaged in share trading, was barred from trading by Securities Exchange Board of India(SEBI) in September, 2011 for market manipulation using Global Depository Receipts (GDR) issues. Subsequently, investigation was initiated by the SEBI agai...

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Engagement of Standing Counsels to Represent Income Tax Department before Madras HC & Other Judicial Forums

CBDT’s Instruction No.3/2012 (11/04/2012)

Vide this Office advertisement dated 05/05/2012; applications were invited from Advocates for empanelment as Senior and Junior Standing Counsels to represent the Income Tax Department before the Hon’ble Madras High Court and other judicial forums. The last date for submission of the application was given in the advertisement as 18/05/20...

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Inauguration Of Pratyaksh Kar Bhawan, Civic Centre Delhi

The Income Tax Office, Civic Centre, Delhi known as Pratyaksh Kar Bhawan is inaugurated by Hon’ble Union Finance Minister Sh. Pranab Mukherjee on 30th of May 2012 at 11:15 AM. The occasion is also graced by Sh. Namo Narain Meena, Minister of state (Expenditure, Banking & Insurance), Ms Meera Aggarwal, Mayor, North Delhi Municipal Corpor...

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ICAI President’s Message – June 2012

Economists across the globe have extended countless explanations for the recurring trend of economic meltdown, now a part of business cycle. Uneven sharing of profit, i.e. less return of profit money to lower and middle level workers, has also been cited as one of the reasons. Generally it is seen that industries give back less money and,...

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