As you are aware, the Government in this year has brought one time amnesty scheme in service tax, namely, Service Tax Voluntary Compliance Encouragement Scheme, (STVCES) 2013, which will enable many assessees to pay tax without interest and penalty. The Institute is always instrumental in facilitating the Government in policy making and implementation thereof with the help […]
The policy decision is a close one. Current inflation is too high. However, given the wide bands of uncertainty surrounding the short term path of inflation from its high current levels, and given the weak state of the economy, the inadvisability of overly reactive policy action, as well as the long lags with which monetary policy works, there is merit in waiting for more data to reduce uncertainty.
1. Pending Service Tax refunds/rebates for export of services – Issue: The prescribed procedure demands documents from other departments, particularly matching of FIRCs with export invoices by banks, on which the taxpayer does not have control.
The Central Bureau of Investigation has arrested a Joint Commissioner of Income Tax (IRS:2003 Batch), Bhubaneswar and an Income Tax Officer, Ward-1, Dhenkanal (Odisha) in a bribery case of Rs.Five Lakh.
Republic of India and Republic of Macedonia signed the new Agreement for the avoidance Of Double Taxation and the prevention of fiscal evasion (DTAA) with respect to taxes on income . The Salient features of this agreement are as under:
The Council in its meeting held on November 22, 2013 unanimously decided to approach Central Government seeking the following amendments to the Company Secretaries Act, 1980 on priority: a. While the name of the Institute remains ICSI, its members may be named as governance professionals;
ITD granted registrations/approvals/notifications to the 799 Trusts without verifying necessary documents such as copy of the Trust Deed, proper clauses in the Trust Deed, audited accounts etc. ITD granted registrations/approvals/notifications to 73 Trusts having no PAN which is in contravention of the provisions of Act.
The Reserve Bank of India today released on its website a Discussion Paper on ‘Early Recognition of Financial Distress, Prompt Steps for Resolution and Fair Recovery for Lenders: Framework for Revitalising Distressed Assets in the Economy’.
The Central Bureau of Investigation has arrested Sunil Kumar, Preventive Officer working in the office of Deputy Commissioner of Customs, SEEPZ-SEZ, Andheri (East), Mumbai for demanding & accepting a bribe of Rs.25,000/- from the Complainant.
Buy goods from a trusted seller who files return and thereby pays due tax collected from you. Mere 2B statement filing by selling dealer not sufficient – selling dealer needs to back it up with return.
