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tax authorities

Latest Articles


Avoid gifts in cash to stay outside taxman’s radar

Income Tax : Under the latest provisions, any sum of money received without consideration (in excess of Rs 50,000), by an individual or Hindu U...

October 13, 2020 3010 Views 0 comment Print

If Advocates only allowed to Practice in Taxation, all IT Officials must be Graduates in Law

Income Tax : Hitherto, the Lawyers/Advocates are attached to civil courts and are practicing Law before the Judges in Courts of Law by presenti...

December 3, 2014 23764 Views 23 comments Print

Transfer Pricing Management fees : Are you following the best practices? Part I

Income Tax : One of the most widely contested issues by Indian tax authorities during a transfer pricing audit is the amount paid for intra-gro...

December 8, 2009 12896 Views 2 comments Print

CESTAT decision – Service Tax on Management Consultant’s Services (MCS)

Service Tax : M/s. Nirulas Corner House Pvt. Ltd. („the Appellants?) were engaged in the food and confectionary business. They had entered int...

December 6, 2009 585 Views 0 comment Print

Assessee’s rights against delay

Excise Duty : A tax assessee has to deal with the problem of delay almost every time it interacts with the tax authorities. This delay is someti...

November 17, 2009 591 Views 0 comment Print


Latest News


Rollout of Point of Taxation rules likely to be pushed to next financial year

Service Tax : The Point of Taxation rules, which will allow tax authorities to link the payment of service tax to provision of service, raising ...

November 23, 2010 471 Views 0 comment Print

Fraudsters siphoned off About Rs 4 crore from Income Tax Department as I-T refunds

Income Tax : About Rs 4 crore has been siphoned off the I-T system by some unidentified fraudsters with the help of bogus PAN cards, e-returns ...

January 20, 2010 594 Views 0 comment Print

Income tax department, Mumbai unearthed recorded concealment of Rs. 1,315 crore

Income Tax : The investigation wing of the income tax (I-T) department in Mumbai has unearthed a record Rs1,315 crore in undisclosed income in ...

January 11, 2010 1422 Views 0 comment Print

Budget 2010-11 may tax undistributed dividend of foreign corporations

Income Tax : The forthcoming budget may contain provisions for taxing the undistributed dividend of foreign corporations that are controlled or...

January 6, 2010 822 Views 0 comment Print

Budget 2010 may have anti-avoidance provisions to check evasion of tax

Income Tax : The forthcoming Union budget may have an anti-avoidance provision, which can effectively check convoluted transactions devised exc...

December 31, 2009 1032 Views 0 comment Print


Latest Judiciary


CESTAT decision – Service Tax on Management Consultant’s Services (MCS)

Service Tax : M/s. Nirulas Corner House Pvt. Ltd. („the Appellants?) were engaged in the food and confectionary business. They had entered int...

December 6, 2009 585 Views 0 comment Print

Merely because an addition is made to the income declared by the assessee, penalty u/s. 271(1)(c) cannot be imposed

Income Tax : In Dharmendra Textile Processors' case (supra), Their Lordships have held that that penalty under section 271(1)(c) provides reme...

April 28, 2009 2379 Views 0 comment Print

In the case of remittances by banking channel the onus on the assessee U/s. 69 stands discharged, and therefore, section 5(2)(b) does not apply

Income Tax : The assessee, who is a non-resident, brought money into India through banking channel and the manner in which this money was utili...

April 2, 2009 1449 Views 0 comment Print


Latest Notifications


New Rules and Procedure for Appointment of AAR Chairman and Vice-Chairman

Corporate Law : G.S.R. 100(E) (1) These rules may be called the Authority for Advance Rulings (Procedure for Appointment as Chairman and Vice-Chai...

January 21, 2016 1487 Views 0 comment Print

MVAT circular on Issuing of Tax Clearance Certificates

Goods and Services Tax : In view of this situation, it is necessary that the procedure for the issuing of such certificates should be standardized. Such ce...

January 5, 2010 26986 Views 3 comments Print

Know Your Customer (KYC) Guidelines – Accounts of Proprietary Concern

Fema / RBI : In partial modification of paragraph 3 (ii) thereof, it is advised that apart from the documents mentioned therein, any certificat...

December 23, 2009 480 Views 0 comment Print

Circular on Validity of Form ‘I’ under Central Sales Tax Act

Goods and Services Tax : Considering the genuine difficulty faced by the Trade in this respect, the instructions contained in Trade Circular No.8T of 2005 ...

June 20, 2009 48348 Views 1 comment Print

Furnishing of copies of challans/returns to the Sales Tax Authorities.

Goods and Services Tax : Trade Cir. No. 5 T of 2008 A Trade Circular No. 1T of 2008 dt. 25.1.2008 had been issued explaining the procedure for issuance of ...

February 28, 2008 1586 Views 0 comment Print


Cash seizures by tax authorities during searches almost doubled in financial year 2008-09

December 24, 2009 786 Views 0 comment Print

Cash seizures by tax authorities during searches on evaders nearly doubled to Rs 400 crore in 2008-09 fiscal, while the size of total assets impounded grew by half to Rs 625 crore, says an official report. The department conducted searches on 429 groups, mostly real estate companies, across the country during 2008-09.

Know Your Customer (KYC) Guidelines – Accounts of Proprietary Concern

December 23, 2009 480 Views 0 comment Print

In partial modification of paragraph 3 (ii) thereof, it is advised that apart from the documents mentioned therein, any certificate / registration document issued by Sales Tax / Service Tax / Professional Tax authorities may also be considered for verification of the proof of name, address and activity of the Proprietary concern.

Transfer Pricing Management fees : Are you following the best practices? Part I

December 8, 2009 12896 Views 2 comments Print

One of the most widely contested issues by Indian tax authorities during a transfer pricing audit is the amount paid for intra-group services to group companies often referred to as management or intra-group fees/charges. In fact, compensation for intra-group services has been one of the important transfer pricing challenges globally for taxpayer and authorities alike.

CESTAT decision – Service Tax on Management Consultant’s Services (MCS)

December 6, 2009 585 Views 0 comment Print

M/s. Nirulas Corner House Pvt. Ltd. („the Appellants?) were engaged in the food and confectionary business. They had entered into an agreement with M/s. Sagar to permit them to run restaurants in the name of “Nirulas” as per the specified plans with regard to the location of the restaurant, area, interiors and other details. As per the terms of the agreement, it is the Appellants who decide the items that are to be sold by the restaurant, the method of preparation of the items, the quality and the prices of the items. The Appellants have even placed their employees in the restaurants to supervise the operations.

Commissioners associated with transfer pricing orders will not be part of the alternate dispute resolution panel

December 1, 2009 765 Views 0 comment Print

To ensure impartiality in adjudication of transfer pricing disputes, the Central Board of Direct Taxes (CBDT) has decided that commissioners associated with transfer pricing orders will not be part of the alternate dispute resolution panel. This panel is being set up by CBDT to resolve disputes arising from transfer pricing assessments.

Dispute resolution panels will allow MNCs to sort out their tax disputes in faster and cost effective manner

November 24, 2009 792 Views 0 comment Print

Multinational companies can now look forward to expeditiously settling their tax disputes in India. The Central Board of Direct Taxes on Monday announced the new rules for creation of special dispute resolution panels (DRP) that will allow foreign taxpayers to sort out their tax disputes in a faster and cost effective manner.

CBEC slapped Rs. 1200 crore penalty notice on EPFO for evading service tax

November 21, 2009 774 Views 0 comment Print

It’s not clear if dipping tax collections have anything to do with it, but the country’s largest retirement fund just got a shocker from the revenue authorities. The Central Board of Excise & Customs has slapped a penalty notice on the Employees’ Provident Fund Organisation (EPFO) for evading service tax, arguing that it provides employers fund management services. Fund management falls under the definition of banking & financial services, which are taxable.

Assessee’s rights against delay

November 17, 2009 591 Views 0 comment Print

A tax assessee has to deal with the problem of delay almost every time it interacts with the tax authorities. This delay is sometimes due to the system of tax administration, which imposes unnecessary and unreasonable restrictions in the name of checking evasion of taxes. Sometime it is arbitrary whim of the tax administrator, employed to harass an assessee.

Income Tax department will send notice to companies who paid lesser advance tax

November 16, 2009 369 Views 0 comment Print

Based on the analysis, the field formations have been asked to send demand notices to companies before December 15, the deadline for the third instalment of advance tax payment. “Most companies have posted better-than- expected second quarter results. So we felt some of them may have paid lesser tax in the first two instalments, which we are now checking up,” a senior finance ministry official explained.

SC admitted petition on applicability of service tax on selling of mutual fund products

September 24, 2009 375 Views 0 comment Print

The Supreme Court has admitted a petition which has raised an important question: Is selling mutual fund products a taxable service?  The apex court headed by Justice S H Kapadia admitted an appeal filed by Commissioner of Service Tax stating that sale of mutual funds (MFs) amounted to service for the purpose of levy of […]

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