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Execution of erection, installation and commissioning of power lines from one point to another point – Prima facie service tax is leviable only from 16.6.2005

January 23, 2011 633 Views 0 comment Print

We have carefully considered the submissions from both the sides and, prima facie, we hold that the liability to tax shall arise only from 16.6.2005 consequent upon amendment enlarging the scope of the impugned services. The decision relied upon by the learned Consultant is in support of the case of the applicant. In view of the above, we hold that the applicant has made out a case for waiver of pre-deposit of dues as per impugned order. Accordingly we waive pre-deposit of balance amount of dues as per impugned order and stay recovery thereof till disposal of the appeal.

Forthcoming changes in eTDS Filing

January 23, 2011 411 Views 0 comment Print

In a meeting with Software Vendors on Jan 21, 1011, NSDL has outlined the following changes in eTDS Statement filing for the Fourth Quarter filing Mandatory Mobile Number It will be mandatory for responsible person to provide mobile number. Howev

Housing prices may fall by up to 20 per cent in Mumbai and Delhi-NCR in next 6-8 months

January 23, 2011 300 Views 0 comment Print

Housing prices could fall by up to 20 per cent in Mumbai and Delhi-NCR sooner than expected if RBI raises key rates in its upcoming monetary policy review, says a report by property consultant Jones Lang LaSalle. “An increase in lending rates is al

High food inflation effect- 'RBI may raise policy rates by up to 50 basis points'

January 23, 2011 366 Views 0 comment Print

High food inflation is most likely to weigh on the Reserve Bank, which is widely expected to raise key policy rates by at least 25 basis points in its monetary review due on Tuesday, top bankers said. “Conventional wisdom says that there should be a

Wholly-owned subsidiaries (WOS) will raise tax liability of foreign banks

January 23, 2011 477 Views 0 comment Print

Tax liabilities of foreign banks will rise marginally if the Reserve Bank makes it mandatory for them to conduct their operations in the country through wholly-owned subsidiaries (WOS) rather than a branch model, experts said today. “Although the W

DGFT's new cotton export license policy for transparency

January 23, 2011 490 Views 0 comment Print

The Director General of Foreign Trade (DGFT) has not included ‘prior experience’ as a pre-condition for people seeking cotton export permit to keep the licensing policy simple and transparent. “When we invited applications we asked who wanted to ex

Unique Code Nos to CAs check fraudulent practices

January 23, 2011 588 Views 0 comment Print

The Institute of Chartered Accountants of India will introduce unique code numbers (UCD) from next month for Chartered Accountants (CAs)to help them check increasing incidents of fraudulent practices, including forged attestations, ICAI President Ama

Black money – Liechtenstein rejects help to India

January 23, 2011 525 Views 0 comment Print

Liechtenstein has declined help in India’s quest for suspected black money trail to the small but rich European country bordering Switzerland, citing absence of a bilateral treaty for such information exchange. The Indian government is facing intens

Sachin Tendulkar is Coke's 'Happiness Ambassador'

January 23, 2011 447 Views 0 comment Print

Master Blaster Sachin Tendulkar will now endorse the softdrinks giant Coca Cola after the company today announced signing the master blaster as its ‘Happiness Ambassador’. We are extremely pleased to have Sachin on board as the Company’s ‘Happines

IT department’s website vulnerable to malicious attacks- NTRO

January 23, 2011 546 Views 0 comment Print

The National Technical Research Organisation (NTRO) has warned that individual Income Tax records can be accessed in an unauthorised manner by outsiders via cyber attacks. Through a letter dated January 17, the NTRO alerted the Central Board of Direc

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