Did Satyam Computer Services’ promoter B Ramalinga Raju make a calculated move in owning up to a Rs 7,800 crore fraud to lessen the degree of punishment? With media reports speculating that Raju may have had benami accounts, land holdings and so on, senior government sources told Outlook Business that the suspicion from day one […]
THE Ministry of Corporate Affairs has ordered an inspection of the accounts of Satyam Computer Services Ltd. under Section 209A of the Companies Act that brings in its ambit the subsidiaries too. The Ministry has also ordered serious frauds investigation under Section 235 of the Act.
November: Ram Gopal Verma was sighted inside Taj Hotel, Mumbai. January: Ram Gopal Verma was sighted in Satyam Computers Hyderabad.
It’s time to do your tax-saving investments with March 31 just a month-and-a-half away. Given the volatility in the market, investors are taking a cautious approach towards equity-linked savings schemes, say financial advisors. In these uncertain times there are some options available in the fixed-returns space such as tax-saver fixed deposits, LIC Jeevan Aastha and […]
The audit firms appointed to restate the account books of scam-tainted Satyam Computer Services will not investigate the role of PWC in the Rs 70-billion (Rs 7,000-crore/$1.43-billion) revenue fraud at the IT bellwether, a board member said Thursday. ‘The job of the two foreign audit firms – KPMG and Deloitte Touche Tohmatsu – is to restate the books of accounts and not to carry out an investigation into the affairs of Satyam Computer or its statute
Are you a cab operator??? Are you aware that there is service tax liability on Rent-A-cab service? In this article we have made an attempt to provide a brief of this entry.
What is a SIM Card? A SIM card is a portable memory chip used in some models of cellular telephones. Features of SIM Card SIM holds personal identity information, cell phone number, phone book, text messages and other data. It can be thought of as a mini hard disk that automatically activates the phone into […]
If there is cash credit, creditworthiness of the creditor, genuineness of the entry, identity of the creditor, the source of money, etc. is required to be considered under section 68 of Income-tax Act.
11. Section 244A has been inserted on the statute by the Direct Tax Laws (Amendment) Act, 1989 we f. 1st day of April 1989 and it has been inserted in lieu of Section 214 243 and 244. Sub-section (1) of Section 244A provides for granting of refund by the Revenue to the assessee in the cases where payment of advance tax and TDS exceeds the tax liability In the present case, there is no dispute so as for the entitlement of assessee to get refund, but the controversy is regarding the period which is to be excluded as per provisions of Section 244A (2).
20. We have heard both the parties and have carefully gone through the orders of the authorities below. Explanation 2 below sub section (2) of section 80IB provides that where in the case of an industrial undertaking, any machinery or plant or any part thereof previously used for any purpose is transferred to a new business and the total value of the machinery or plant or part so transferred does not exceed 20 per cent of the total value of the machinery or plant used in the business, then for the purpose of clause (ii) of sub-section 2 of section 80IB,
