The above limitations have increased due to mandatory Digitally signing of ITR-6. To overcome this issue, CCA, through the request from ITD, has introduced a new filed in DSC issuing. In this, DSC can have PAN encoded in itself, so that it can help ITR filing.
The Delhi income tax (I-T) department is facing criticism for its administrative inefficiency by failing to produce 95.4 per cent of records asked by the Comptroller and Auditor General of India (CAG) for its performance audit for financial year 2009-10. This is the highest failure rate of I-T department in providing records to the CAG. Delhi is followed by Punjab (53.4 per cent), Orissa (50.9 per cent), Uttarakhand (47.7 per cent), Maharashtra (46.3 per cent) and Gujarat (39.9 per cent).
TO AVOID LAST MINUTE RUSH AND SYSTEM CONGESTION IN MCA21 DUE TO HEAVY FILING IN LAST 10 DAYS OF THE MONTHS OF OCTOBER AND NOVEMBER 2010, IT IS REQUESTED THAT FILING OF ANNUAL RETURN AND BALANCE SHEET MAY BE DONE IN THE FOLLOWING ORDER:-
The Bombay High Court, on Tuesday, refused to direct the state government to recover entertainment tax on Indian Premier League matches played in the state during its last season. It also observed that central and state ministers should stay away from sporting bodies like the Board of Control for Cricket in India (BCCI).
Giving a clean chit to Sharad Pawar, the Bombay High Court on Tuesday said there was “nothing on record” to show that the Union Minister influenced the Maharashtra government’s decision to exempt Indian Premier League matches from entertainment tax.
The government may soon allow foreigners to set up limited liability partnerships in sectors where 100% foreign investment is allowed, taking a decisive step after much flip-flop over funding guidelines for this form of business organisation, favoured globally for its flexibility.
An outsourcing contract to Infosys, India’s second-largest software company, has resulted in an unexpected reprieve for those with income to hide from the taxman. Irked by the contract, under which Infosys is processing tax returns filed online, and rattled by the prospect of more outsourcing, officials of the investigation wing of the income-tax department, the arm of the tax administration that conducts raids, have refused to step out of their offices for at least a month.
The much awaited new indirect tax regime Goods and Service Tax (GST) is unlikely to be implemented from the scheduled date of April 1, 2011, a top government official said on Tuesday. “In all probability it (the introduction of GST) will miss the deadline,” Revenue Secretary Sunil Mitra said.
The much awaited Direct Taxes Code Bill is likely to be introduced in the ongoing monsoon session of Parliament itself, the Revenue Secretary, Mr Sunil Mitra, has indicated. “We do expect the DTC to be introduced in Parliament in this session. This is what the Finance Minister has promised in public forum and we intend to do our best to make it happen,” Mr Mitra told reporters on the sidelines of a CII event here.
The Union corporate affairs ministry said it had no problem with global mining major Vedanta Resources’ acquisition of Cairn India if the deal got shareholder approval from both sides. Responding to a media query on the sidelines of a conference here today, minister Salman Khurshid said his people had no role if the deals get shareholder nod. “If shareholders have a problem, they can approach the High Court, Company Law Board or the ministry,” he said.
