The Institute of Chartered Accountants of India (ICAI) has asked the government to defer the implementation of Goods and Services Tax (GST) from April 1, 2010 by an year to allow for a smoother transition to the new indirect tax framework.
counting of votes, without giving effect to the Order dated 30th December, 2009 issued by the undersigned as Returning Officer during the counting process pertaining to the 21st Council from Central India Regional Constituency shall be held at 11.00 A.M. on 18th January, 2010 in the premises of the Institute at ICAI Bhawan, Indraprastha Marg, New Delhi – 110 002.
The I-T department has asked tax payers not to give out personal details like PAN card number and information about their credit cards on the internet in the wake of mushrooming fake e-mails hitting users’ inboxes. Viewing with concern the spurt in fictitious and unauthorised e-mails landing in personal internet addresses of many people, the department is adding a word of ‘caution’ at the end of each mail sent by them.
Those trying to evade the taxman may find that showing a lower income has just got tougher. The Bombay high court on Thursday, in a significant ruling, held that the income-tax department can rely on any relatable document when it comes to a block assessment. A bench headed by Justice D Y Chandrachud essentially made it easier for the tax officials to add or join other monies into the `income’ bracket based on surveys or search and seizures
The auditor for Bharti Airtel has asked for more time from the department of telecommunications (DoT) to finalise the special report sought by the government on the company, as they have yet to fully get the needed information. Contractor, Nayak & Kishnadwada, the chosen audit agency, has told DoT in a letter that Bharti has started providing some of the pending information, which is being verified.
The Delhi High Court today dismissed an application by ITC Ltd for grant of an injunction against the use of a device mark by Philip Morris in relation to its Marlboro brand of cigarettes in India. The trademark action filed by ITC was based on the registration and use of its wellknown W-namaste logo
Nutritionist Dr Sarita Davare, recently caught in the tax net (the income tax department recovered Rs 7.5 crore from her), is the city’s best kept secret. We spent the best part of the day trying to get a picture of the lady, but failed. However, the recent IT raid on her brings the spotlight on big bucks that the fitness industry rides on.
Pursuant to the Orders dated 13th January, 2010 of the Hon’ble High Court of Judicature for Rajasthan at Jaipur in the matters of T. Karthikeyan, Returning Officer and Secretary -vs- Prakash Sharma and Ors.[DB Special Appeal (Writ No. 35/2010)] and T. Karthikeyan, Returning Officer and Secretary, -vs- Ganesh Sharma and Ors.
A revised Agreement and Protocol between India and Finland for Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income (DTAA) was signed by Sh. S.S.N.Moorthy, Chairman, CBDT on behalf of Government of India and Ms Terhi Hakala, the Ambassador of Finland to India, on behalf of Government of Finland, here today.
With a view to rationalising the present arrangements relating to foreign portfolio investments by Foreign Institutional Investors (FIIs)/ Non Resident Indians (NRIs) and other foreign investments like Foreign Venture Capital Investor (FVCI) and Private Equity entities etc., the Government has decided to set up a working group to look at various types of foreign flows, which are taking advantage of arbitrage across the respective stand-alone regulations and generate recommendations to Government.
