By the end of this fiscal, income tax payers will be able to get all their problems relating to filing of returns and obtaining of refunds, among others, addressed at nine more help centres. The Income Tax Department has decided to set up help centres at 12 cities, including Kolkata, Coimbatore and Surat, to address the problems of tax payers. At present, help centres exist at three places in the country.
The Centre has not closed the window for issuing warrants and partly-paid shares to non-residents even as the recently announced consolidated FDI policy framework excluded these instruments from the definition of “capital”, a senior Government official said.
The government has decided to allow Indian companies to freely enter into share-swap deals with foreign firms to facilitate cross-border mergers and acquisitions, provided such deals are consistent with the country’s policy on foreign direct investment (FDI).
In view of the forthcoming Commonwealth Games, Delhi – 2010, and in order to encourage growth of budget accommodation of the Approved / Licensed Guest Houses in the NCT of Delhi, the Ministry of Tourism has introduced a “Interest Subsidy Scheme for the Upgradation of Guest Houses” in the NCT of Delhi.
As you are aware, the Institute of Chartered Accountants of India (ICAI) was established on 1st July, 1949 for regulating the profession of Chartered Accountants in India. The Chartered Accountants Act, 1949 provides for the framework/scheme of regulation of the profession. The manner (including the procedure) in which such a regulation should be operational had been dealt with in the Chartered Accountants Regulations framed under the said Act.
Due to paucity of accommodation in some Zones opted by the candidates in the cities of Cheenai, Indore, Kolkata, Mumbai and Thane some of the candidates have been allotted examination Centres in other Zones of the said cities where the accommodation is available. In view of this, it is not possible to accede to the requests of the candidates for transfer to an examination centre in a particular Zone of the City opted by them.
The Central Bureau of Investigation (CBI), which hopes to complete the probe into the 2G Spectrum case within a year, has roped in the Comptroller and Auditor General (CAG) to help ascertain the alleged financial irregularities in distribution of new licenses and spectra in 2008 at prices fixed in 2001.
The Income Tax (I-T) department, which is investigating the origin of funds invested in Indian Premier League (IPL) teams, has run into a road block as most of the team owners have refused to part with their funding details. The I-T department’s problems stem from the fact that most of the IPL team owners, though of Indian origin, are citizens of other countries.
In a setback to telecom service provider Vodafone, the Income Tax Department on Monday said it has the jurisdiction to tax the $11.1-billion Vodafone- Hutchison Essar deal of February 2007. “We have jurisdiction over taxing Vodafone. Jurisdiction order has been issued … We will send the tax demand to them within few days,” Central Board of Direct Taxes (CBDT) chairman S S N Moorthy told media.
The Delhi High Court on Tuesday asked telecom companies to submit their account books to the Comptroller and Auditor General of India (CAG). CAG had been asked by the Centre to check under-reporting of revenue for calculating the licence fee. A division bench comprising Justices Sanjay Kishan Kaul and Valmiki Mehta directed telcos to provide details of their revenue sharing to CAG.
