In a move to facilitate the students, the Board of Studies has compiled the comments of the examiners on all the subjects of the Final (Old) Course and Final (New) Course examinations held in May, 2010. The group-wise general comments of the examiners on the performance of the students have been summarised, which are followed by the question-wise specific comments on the mistakes committed by the students in different subjects.
The High Court held that Section 65(105)(zzzze) does not relate to goods as such as it imposes service tax on services provided or to be provided in relation to information technology software. The same can be brought under Entry 97 of List 1 of Schedule VII which relates to the residuary powers of the Parliament to make laws. Thus, the Parliament has the legislative competence to make laws relating to it.
Inter and Final Result of June 2010 under Syllabus 2008 will be declared on 31.08.2010. For Result check http://www.exam.icwai.org/result/default.asp
Padma Bhushan awardee and octogenarian Madhusudan Dhaky invested his lifetime savings into buying a flat. Little did he realise that the flat he bought was an illegal one. He is not alone to be duped, many property buyers fall prey to glib talks of unscrupulous real estate developers and agents. Ahmedabad Municipal Corporation (AMC) authorities, however, insist that the victims had bought homes without properly investigating the genuineness of the house-ownership documents.
The revenue department has contested the petition filed by PVR Pictures in the Delhi High Court against the government’s decision to levy service tax on copyright services such as sale of music rights, sale of direct-to-home satellite TV rights, and screening in cinemas. In a counter affidavit filed in the court, the department has said that temporary transfer of rights to copy in a limited manner will be chargeable to service tax.
When American Senator Charles Schumer described Indian software firms as `chop shops’, few imagined that the taxman back home could add salt to the slur. Indeed, Indian income-tax authorities are beginning to claim tax on the money that software firms make by sending their boys to work with companies in the US, Europe and other markets—a business that is known as onshore software development, or simply ‘body shopping’.
The Supreme Court has asked the Central Board of Direct Taxes (CBDT) and other tax authorities to get the help of technical experts while deciding income tax liability of cellular service providers. The order came after a batch of appeals by income tax authorities against the ruling of the tribunal favouring Bharti Cellular Ltd and other service providers.
The Income Tax Settlement Commission, even after commencing the proceedings, is empowered to examine the authenticity of such full and true disclosure of the unaccounted return of the assessees, said the apex court dismissing the plea of real estate major Ajmera Housing Corporation and others.
The competition watchdog CCI has proposed setting up of state-level commissions to safeguard interests of small businesses and spread its reach to different parts of the country. The proposal forms part of the recommendations submitted to the Corporate Affairs Ministry on the National Competition Policy (NCP) by the Competition Commission of India (CCI).
The government will provide an additional incentive of Rs.1,050 crore to labour- intensive sectors like handicrafts, handlooms and leather goods, whose exports have been badly hit by the downturn in the US and Europe, Commerce and Industry Minister Anand Sharma said on Monday. “In order to give immediate relief, a bonus incentive is being provided to sectors whose exports are still not doing well,” Sharma said, announcing the annual supplement to the foreign trade policy.
