Applying the arm’s length principle to review transfer prices set in transactions between associated enterprises often requires a comparison to be made between these prices and the prices set in similar transactions between independent enterprises in similar circumstances.
Offshore tax evasion remains a serious problem for countries and jurisdictions worldwide, with vast amounts of funds deposited abroad and sheltered from taxation when taxpayers fail to comply with obligations in their home countries.
EMPANELMENT OF STOCK AUDITORS / VALUERS GUIDELINES State Bank of India invites application for Stock Auditors / Valuers, those having their place of business in the State of Delhi, Uttarakhand, Rajasthan and the following districts of Uttar Pradesh and Haryana may send their offers: AGRA, ALIGARH, ETAH, FIROZABAD, HATHRAS, MAINPURI, MATHURA, BAGHPAT, BULANDSHAHR, GAUATAM BUDH […]
Service Tax officials have arrested Myron John Remedios, managing director of Rare Hospitality and Services Pvt Ltd, on the charge of collecting service tax to the tune of Rs 4.5 crore and not remitting the same to the department. The Managing Director of the company was allegedly involved in the day to day operations of […]
A declaration to be furnished by the firm that credit facilities availed by the firm or the partners or firms in which they are partners or directors including any facility availed by a third party for which the firm or its partners are guarantors are not turned or are existing as nonperforming assets as per the prudential norms of RBI.
The Central Board of Excise and Customs (CBEC) has denied the report that the Customs, Excise Duty and Service Tax refunds/drawbacks are being held-up by the Department. This was mentioned in a certain section of media attributing to a statement by President, Federation of India Export Organisations (FIEO) to the effect that Customs, Excise Duty […]
Finance Bill 2014 got the assent of President on 04th March 2014 and become THE FINANCE ACT, 2014 (NO. 11 OF 2014). The bill was already approved by the both the house of Parliament i.e. Lok Sabha and Rajya Sabha. Download Finance Bill 2014 as approved by the President
FIVE YEARS RIGOROUS IMPRISONMENT WITH FINE OF RS.50,000/- TO THEN DEPUTY DIRECTOR OF INCOME TAX IN A BRIBERY CASE OF RS.EIGHT LAKHS The Special Judge, CBI Cases, Saket, New Delhi has sentenced Shri Satish Kumar, then Additional Director (Investigation), Income Tax, Meerut in a bribery case of Rs.Eight Lakhs and sentenced him to undergo five […]
Government has approved payment of 8.75 per cent rate of interest on PF deposits in 2013-14 for over five crore subscribers of retirement fund body EPFO. The Finance Ministry has given its concurrence to the Employees’ Provident Fund Organisation’s (EPFO) trustees’ decision to provide 8.75 per cent rate of interest to its members for the […]
ANNOUNCEMENT ON INCREASE IN MINIMUM AMOUNT OF STIPEND PAYABLE TO STUDENTS DURING TRAINING The Council of the Institute at its 220th meeting held on 20.12.2013 has revised and fixed separately the minimum amount of stipend payable to Executive Pass students and Professional Pass students as under:
