Direct Taxes Code Bill, 2009, could soon set the tone for all our future wealth-creation decisions. If enacted, the bill will not only change the amount of tax you pay, but also transform how you invest, borrow and spend your money. While most tax breaks may be taken away, the process of filing taxes will be simpler.
In order to provide prompt services to the expanding base of members and students, the ICAI is launching its e-Sahaayataa service on June 1, 2010. The e-Sahaayataa shall act as the only e-channel for the entire base of members and students of the Institute and other stakeholders of the profession at large wherein all their queries/complaints/grievances pertaining to the day to day working shall be catered to and be resolved by ICAI within 3 – 7days from the date of entering such query/complaint/grievance.
If you are looking for complete business solution provider, then end your search by participating in Special Placement Programme organized by Committee for Members in Industry (CMII) of The Institute of Chartered Accountants of India, wherein you would have access to a vast database of experienced Chartered Accountants and also fresh Chartered Accountants.
Notification No. 64/2010-Customs, New Delhi, dated the 14th May, 2010. G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India,
Only in the cases where the assessment order is erroneous and prejudicial to the interests of the revenue and not prejudicial to the interest of the assessee can be reopened under section 263 and the assessee is not eligible to claim any new benefit in the assessment proceedings pursuant to section 263.
People with more than Rs 10 lakh annual income may not get the tax relief originally proposed in the Direct Taxes Code, as the Finance Ministry is for tweaking slabs across the board to offset concessions elsewhere.
The Exchange has joined hands with several agencies like the government, trade bodies and educational institutions to drive financial literacy for financial inclusion and encourage incorporation of global best practices in the industry.
Notification No. 33/2010-Income Tax S.O. 1056(E).- In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income tax Rules, 1962, namely:-
In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Cus (N. T.), dated, the 3rd August 2001, namely: –
Where the assessee is not able to substantiate his claim of expenditure with any evidence, penalty is leviable under section 271(1)(c)
