Shantilal M. Jain vs. ACIT (ITAT Mumbai)-Though it is the case of the revenue that due to volume, magnitude, frequency, continuity, regularity, the ratio between purchase and sale clearly indicate that income on account of purchase and sale of shares should be treated as income from business and not as income from STCG, the AO has, from AY 2003-04 to 2008-09 (except for the impugned year 2006-07), consistently accepted the income as being STCG. In these circumstances, the Rule of consistency as propounded by the Bombay High Court in Gopal Purohit 228 CTR 582 (Bom) is squarely applicable and the income has to be treated as STCG.
Declaration For Proposed Tax Saving Investment and Expenditures For F.Y. 2011-12. Form for sending particulars of Income under section 192(2B) for the year ending 31st March 2012. Format of letter asking staff to submit proof of Investment made and deduction they are eligible alongwith details of income other then salary.
Articleship Leave Calculator with Form 119 for CA students. This calculator will help students of IPCC, PCC and PE II to know the Leave they are eligible and excess or shortage of Leave taken.
Download Easy TDS Chart for Financial Year 2010-11 / Assessment year 2011-12
This would help you to easily calculate the current Sigma Level of your Process. Sigma Level from DPMO. Sigma Level from Quality Yield (Yield = 1 – % defective). Sigma Level for DPM for Non Centered Process – Assumes 1.5 sigma shift (Normal Distribution)
The Income Tax (I-T) department has got disclosures of Rs 30 crore from two companies. IT officials initiated search and survey operation with around 200 officials on four city-based groups on Wednesday. While three of the groups have real estate as their core business, the fourth group is popular city-based jeweller and has huge investments in realty business. The department has also seized Rs 60 lakh from the two groups each of which have declared Rs 15 crore unaccounted income.
The government will notify the new rules for corporate mergers and acquisitions on May 5, following which it will be mandatory for companies to seek the Competition Commission”s approval for high voltage deals, Chairman Dhanendra Kumar said today. By May 3-4, the rules will be finalised and by May 5, we will notify the same. And by June 1, the provisions relating to mergers and acquisition approvals would come into effect, Kumar told reporters on the sidelines of an AMCHAM event here.
Amid concerns over high inflation and the possibility of hike in key policy rates , Reserve Bank governor D Subbarao today called on Finance Minister Pranab Mukherjee to discuss the state of economy ahead of the apex bank’s monetary policy next week. “As a standard practice I had come to review the macro economic situation with Finance Minister and senior officers ahead of the policy review ,” Subbarao told reporters after meeting Mukherjee.
If the Cadre wants that CBDT hereafter adheres to the DOPT / UPSC calendar to have the advance promotions panel ready before the close of the year, it is necessary that each one of us immediately submits his Self Appraisal in the new format APAR, the Reporting Officer reports quickly & sends it to the Reviewing Officer, the Reviewing Officer reviews it promptly & submits it to the CCIT (CCA) of his region.
Vide Order No. 72 of 2011 dated 29.04.2011, the CBDT has transferred / posted additional/ Joint Commissioners of Income-tax. Vide Order No. 53/2011 dated 30.03.2011 CBDT has promoted its officers to the grade of Joint Commissioners of Income-tax on ad hoc basis. In continuation of Order No. 53/2011 dated 30.03.2011 CBDT has ordered following Transfer/posting of officer untill further orders vide Order No. 73 of 2011 dated 29.04.2011,
