Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on December 3, 2010, Government has approved 08 Proposals of Foreign Direct Investment amounting to Rs. 883.166 crore approximately.
INSTRUCTION NO. 8/2010 [F.NO. 275/73/2009-IT(B)] DATED 8-12-2010 In the present system of processing of e-TDS returns, the returns are processed online and mismatch report showing defaults on various accounts is generated. Based on this mismatch report, the assessing officers issue show-cause notices to the deductors and take follow up actions. 2. It has come to the notice of the […]
The first India Corporate Week was celebrated last December on the theme “Corporate Sector and Inclusive Growth”. I note with satisfaction that the Ministry of Corporate Affairs has taken many important initiatives in the year that has since gone by
Centralized Processing Center (CPC), Bangalore has begun processing of returns for AY 2010-11. Till 10/12/2010 it has processed over 15 lakh e-filed returns of AY 2010-11 in ITRs 1, 2, 3, 4 and issued refunds in over 1.6 lakh cases
The Finance Ministry has begun its maiden investigation into over 100 offshore “financial structuring deals” undertaken by Indian business entities in foreign tax havens to allegedly evade the taxman’s net.
It’s payback time. The department of telecom (DoT) will issue on Monday its first set of show cause notices to companies that were ineligible to receive 2G licences/spectrum in 2008, as well as to those that failed to meet their basic rollout obligat
The government’s official auditor, Comptroller and Auditor General (CAG), has mooted lower corporate taxes to stop many non-resident firms from misusing the Double Taxation Avoidance Agreements (DTAAs) on account of higher levies in India.
Having scrutinised more than 380 merger and acquisition deals from 2007-08, the Income Tax department is expected to soon slap entities concerned with notices for tax totalling several crores of rupees.
In a significant development, Department of Revenue has issued draft Authorized Economic Operator (AEO) Scheme for stakeholders engaged in international trade. Views/ comments of trade and industry are sought on the AEO Scheme by 15 December 2010
Mumbai Income Tax authorities expect to collect Rs 2,500 crore on accounts of the ongoing Vodafone case. The collection would help the department achieve its tax collection target for this fiscal, a department press release said here today. Mumbai zone has been given a target of over Rs 1,50,000 crore for FY 11.
