Dated 14th September, 2011 made it mandatory From 1st October for all Central Excise assessees, [except those availing the exemption under Notification Nos. 49/2003-CE and 50/2003-Central Excise, both dated 10th June 2003 (Uttarakhand and Himachal exemptions)] to file monthly returns electronically. This applies to hundred percent EOUs also. Rule 12 and Rule 17 of the Central Excise Rules, 2002 are amended.
Notification No. 51/2011 – Income Tax [F.NO. 203/71/2010/ITA-II], DATED 14-9-2011 It is hereby notified for general information that the organization Mangalore University, Mangalore has been approved by the Central Government for the purpose of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), from Assessment year 2011-12 and onwards in the category of ‘University’, partly engaged in research activities subject to the following conditions:—
How many times can I furnish a correction TDS/TCS statement? A correction TDS/TCS statement can be furnished multiple times to incorporate changes in the regular TDS/TCS statement whereas a regular TDS/TCS statement will be accepted at the TIN central system only once. What are the important points to be kept in mind while preparing correction statement more than once on the same regular statement?
After I prepare my e-TDS/TCS return, is there any way I can check/verify whether it conforms to the prescribed data structure (file format)? Yes, after you have prepared your e-TDS/TCS return you can check/verify the same by using the File Validation Utility (FVU). This utility is freely downloadable from the NSDL-TIN website.
The manner of computing total income has been changed in the budget for the current year by allowing deduction under section 80C. However, the present Form No. 24Q shows a column for rebate under section 88, 88B, 88C and 88D. How should Form No. 24Q be filled up in absence of a column for section 80C?
Where can I file my TDS/TCS return? You can file your TDS/TCS return at any of the TIN-FCs managed by NSDL. TIN-FCs are set-up at specified locations across the country. Details are given in the NSDL-TIN website. These can also be furnished directly at NSDL-TIN web-site.
How do I file my quarterly e-TDS/TCS return, if I don’t have PANs of all deductees? You can file your e-TDS/TCS return for the deductees who have valid PANs and subsequently file correction return for remaining deductees whose PANs were not available with you while furnishing regular return.
Shri Shibu Soren Vs. ACIT and 4 others (ITAT Delhi)- If there is any undisclosed income and there is a search, addition of such undisclosed income is to be made in block.It is observed by the Honourable Jurisdictional High Court in this case that where the department is aware of the existence of an asset, then the department may be fully justified in issuing notice u/s 148 if the department feels that there is any undisclosed income.
Dresser Rand India Pvt. Ltd. Vs ACIT (ITAT Mumbai)- The integral tests for a Cost Contribution Arrangement to be considered at arm’s length are: that the services were availed, the costs have been allocated in a reasonable and an impartial manner and there is documentation to demonstrate the receipt of services.
The Central Bureau of Investigation has arrested a Superintendent working in the Service Tax Commissionerate, Bangalore for demanding and accepting a bribe of Rs.15,000/- from the complainant.A case was registered against Superintendent, Service Tax Commissionerate, Bangalore U/s 7 of Prevention of Corruption Act, 1988 for demanding a bribe of Rs.15,000/- from the complainant for accepting the NIL report filed by him.
