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5 year Jail Term to then ACIT Rajiv Kumar in Bribery Case

January 1, 2013 4002 Views 0 comment Print

The Special Judge for CBI Cases, Mumbai has convicted Shri Rajiv Kumar, then Assistant Commissioner of Income Tax, Mumbai and sentenced him to undergo five years Rigorous Imprisonment with fine of Rs.30,000/- in a bribery case.

ICAI President’s Message – January 2013

December 30, 2012 1513 Views 0 comment Print

Suggestions on Draft Rule 11UA of Income-tax Rules, 1962 Accepted: I am happy to inform you that our suggestions have found favour with the Government, which we had submitted in response to the CBDT’s request on the draft Rule 11UA for determination of fair market value for the purpose of Section 56(2)(viib) of Income-tax Act, 1961.

Documents Required for service Tax Audit

December 30, 2012 19532 Views 0 comment Print

Require Document for Audit 1. Annexure I Questionnaire. 2. Annexure II List of addtional documents. 3. Annexure III FDSS. 4. Annexure IV Reconciliation. 5. Annexure V Cenvat Account Rule 9

CBI arrest Income Tax officer asking for Bribe to facilitate Refund

December 29, 2012 3522 Views 0 comment Print

The Central Bureau of Investigation has arrested an Income Tax Inspector and an Archivist -in-Charge of National Archives of India in separate cases of bribery. A case was registered against an Inspector of Income Tax (Circle-III), Gaya for demanding a bribe of Rs.15,000/-from the Complainant.

Income Tax Calculator for Govt Employees for FY 2011-2012 / 2012-13

December 29, 2012 32946 Views 0 comment Print

Download Automatic Income Tax Calculator for Central & State Government Employees for the Financial Year 2011-2012 / 2012-13 and Assessment year 2012-2013/ 2013-2014.

Year End Review of measures taken by CBDT & CBEC

December 28, 2012 1973 Views 0 comment Print

24X7 Customs Clearance , Mandatory E-payment of Customs duty, E-helpline, Measures to Check Tax Evasion , Measures to Check Black , money, E-Filing of Returns, Centralised Processing Centre (CPC) , Payment of Direct Taxes Through ATMs , Online Tax Help , Communication Strategy for school children

Renaming of the Integrated Professional Competence Examination (IPCE)

December 27, 2012 1622 Views 0 comment Print

In terms of Notification NO XCA(7)/145/2012 dated 1st August 2012, Integrated Professional Competence Examination(IPCE), stands renamed as Intermediate (IPC) Examination and would be known accordingly, with effect from May 2013 examination onwards.

ICAI extends CPE hours Compliance Date to 31st January, 2013

December 25, 2012 1367 Views 0 comment Print

Extension of last date for complying with the CPE hours requirement for the calendar year 2012 – from 31st December, 2012 to 31st January, 2013

Taxability of IIFCL Tax Free Bonds – Issue opening on 26 Dec 2012

December 24, 2012 11254 Views 0 comment Print

India Infrastructure Finance Company Limited Issue Period: 26 Dec 2012 to 11 Jan 2013 Key Benefits: Credit Ratings: AAA by CARE, AAA (Stable) by ICRA and BRICKWORK Interest on these Bonds is Tax-Free, no TDS is applicable, Wealth Tax is not levied No lock in period and no upper limit on investment amount Issue Size: […]

5 Year jail term to ACIT in Bribery Case

December 24, 2012 2403 Views 0 comment Print

The Special Judge for CBI case, Mumbai has convicted Sh. Rajiv Kumar the then Assistant Commissioner, Income Tax Circle 27 (1) Piramal Chambers Lal Baugh, Mumbai in a bribery case and sentenced him to undergo five years rigorous imprisonment with fine of Rs. 30,000/-.

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