Who is a Non-Resident Indian [NRI]? A. Non- Resident Indian [NRI] means a ‘person resident outside India’ who is a citizen of India or is a ‘person of Indian origin’.
Board deserves thanks from taxpayers for advance intimation & invitation for suggestions in respect of Point of Taxation rules that would be made applicable for charge of service tax. These Rules can provide useful inputs in the process of drafting of Time & Place of Supply of Service Rules that would be required to be framed under proposed GST regime.
Direct Tax Code (DTC) Bill introduced in Lok Sabha on Monday, August 30,2010 by Finance Minister Mr. Pranab Mukherjee, Will now be applicable from April 1, 2012 instead of earlier proposed date April 1,2011. This bill comparatively offers lower benefits as compared to the original bill. Download DTC Bill 2010 Highlights of DTC are as […]
Primer on Public company limited by shares, Private Company limited by shares, Unlimited company, Government company, Mutual benefit company, Company limited by guarantee, section 25 company, Registration of Partnership and co-operatives as companies A. What is a public company limited by shares? In terms of section 3(1)(iv) of the Companies Act, 1956 a public company […]
Sr. No. Nature of Payment Rates of TDS where deductee is a resident Remarks The present rates Proposed rates under the Code 1. Salary paid to employees Rates as per the slabs and rates prescribed by the Finance Act Average rate of tax on salary paid during the financial year
CA FINAL OLD COURSE MAY 2010 SUGGESTED ANSWERS – ISSUED BY ICAI. CA FINAL NEW COURSE MAY 2010 SUGGESTED ANSWERS – ISSUED BY ICAI
The ministry of corporate affairs, or MCA, has all but dismissed the findings of a panel set up by the Institute of Chartered Accountants of India (ICAI) because it contains little that will help in regulating the profession and ensuring that frauds such as the one at Satyam Computer Services Ltd don’t happen again.
The concept of Limited Liability Partnership (LLP) in India is viewed as an alternative corporate business vehicle that provides the benefits of limited liability and also allows its members the flexibility of organizing their internal structure as a partnership based on a mutually arrived agreement. The revised Bill received the assent of the President of India on 7, January 2009.
Taxes are a major source of revenue for any country to fund the government expenditure and welfare of the society. In fact, they have been called the building block of civilization . In due course of time taxes started being levied on income, wealth ,sale of goods , provision of services etc. mainly to pay for increasingly more expensive defense efforts and for a modern welfare state. The emphasis is shifting progressively to voluntary compliance of tax laws.
On 17th August, 2010, news on acquisition of the shareholding of Cairn Energy (`CEL’) in Carin India Limited (`CIL’) (BSE and NSE listed) by Vedanta Resources Plc (`VEDANTA’) at Rs. 405/-($8.66) per share became public. Closing price of each shares of CIL on the NSE on 14th August, 2010 was Rs.355/-. Vedanta will have to incur $ 9.6 billion (Rs 44,928 Crore) for acquiring CIL. Deal between the parties was concluded in London.
