The dispute over taxing the money spent by actors on their followers came up before the Madras high court that was hearing an appeal by the income tax (I-T) department against a tribunal order that went in favour of Tamil actor Vijayakant. The actor
India will soon enter into an era where investors can indulge in stock trading via their mobile phones from any where in the world, irrespective of what they may be doing at that particular moment. You can visualize a situation where you are watching
Under the Income Tax Law (ITL), tax incentives linked to the profits of the relevant business (profit-linked incentives) are available for a specified number of years. Direct Taxes Code (DTC) 2010 proposes to withdraw or substitute these profit-linke
Direct Tax Code (DTC) 2010 consolidates the withholding tax provisions as well as the procedural law dealing with reporting of income (including branch profits), net wealth and dividends distributed. To ensure compliance with the reporting requirements under DTC 2010, certain amendments have been proposed to the penal provisions, as also provisions relating to prosecution. This article summarizes the key amendments to the procedural law, including amendments to the assessment procedures, tax withholding provisions, penalty and prosecution.
The Institute of Cost and Works Accountants of India (ICWAI) and the Institute of Professional Accountants and Auditors of Russia (IPAR) have signed a Memorandum of Understanding in Moscow in the presence of Shri R. Bandyopadhyay, Secretary, Ministry
The Reserve Bank of India has, today, placed on its website “A Profile of Banks 2009-10”. The publication, “A Profile of Banks 2009-10”,the sixth volume in the series, provides a bank-wise and bank group-wise information on important performance in
Today, in the present scenario also, the poor exporter is still facing enormous difficulty in getting refund orders as stated in the lines above. There is no radical change has taken place even after the change of total scheme by the Government. The refund claims are the Right of the exporters but the department is rejecting these claims on various grounds which are of trivial importance.
The Central Board of Direct Taxes (CBDT) had recently amended the Rules relating to the manner of furnishing the return of income for companies for Assessment Year 2010-11 and onwards. Under the revised Rules, all companies (including foreign compani
The Institute of Chartered Accountants of India (ICAI), which is one of the Institutes functioning under the aegis of the Ministry of Corporate Affairs, will be organizing a one- day Round Table Conference on the theme ‘Commerce & Accountancy Educati
The draft Direct Taxes Code along with a Discussion Paper was released on 12 August 2009 for public comments to simplify direct tax legislation in India. Subsequently, comments were solicited from the public and examined by the Government. A Revised Discussion Paper was issued to respond to the major concerns and comments of stakeholders were released on 15 June 2010.
