The Finance Ministry has extended service tax exemption to five more export promotion councils (EPCs). With this move, the total number of EPCs that could avail themselves of service tax exemption has gone up to 27 across the country. Budget 2009-10 had provided exemption on the service tax leviable under “club or association services” for 22 […]
New version of Form 15, 1INV, 21, 23, 23AA, 23C, 24, 25B, 25C, 3, 32, 35A, 37, 39, 4C, CAR, DDB, 24AB, 23AAC, 65, 63, DD-C, 23AAA, Form I- Application for appointment of sole selling agent, Form of annual return of a foreign company having a share capital, 24A, Investor complaint form, 22B, 36, 4, […]
A Mumbai-based social worker has threatened to press charges against the I-T department for placing ads in various newspapers, which allegedly disrespect the national flag. According to Sundeep Sharma , the advertisement, which urges people to pay advance tax, shows a child saluting the national flag with his left hand .
THE new direct tax code, launched with much fanfare by finance minister Pranab Mukherjee and his predecessor P Chidambaram recently, is up against a bureaucratic wall with the Indian Revenue Service (IRS) brigade complaining that it will reduce this elite service into a mere tax collection machinery.
It may now become compulsory for all big and medium manufacturing companies to get their cost accounts audited, if an expert group’s recommendation on the same is accepted by the government.
The government will arm income-tax officials with details about assets of individuals whose tax payments are pending, a move aimed at meeting the Rs 13,153-crore target for arrears collection this fiscal.
September, 07th 2009 , The President of the Institute has constituted a Committee on Electoral Reforms, comprising of the following members, to suggest electoral reforms, based on the experience gained in the elections held under the Chartered Accountants Regulations initially and the Chartered Accountants (Election to the Council) Rules, 2006 subsequently, suggestions made but could not […]
The interest paid on delayed compensation to land owners by companies or entities engaged in the creation of Special Economic Zones, industrial parks and infrastructure developments,and payments by electricity distribution companies to transmission line owners,will now attract tax . The Central Board of Direct Taxes has also issued instructions to take all returns filed by […]
The Income Tax gazetted officers and employees under the umbrella of Joint Council of Action have threatened to strike work on September 9, to protest delay in implementation of a 11-point charter of demands, pending with the Central Board of Direct Taxes. The demands include a share of the Rs 196 crore (Rs 1.96 billion) incentive […]
Corporate Affairs Minister Salman Khurshid has said he would exert pressure on the Institute of Chartered Accountants of India for a final report on the multi-crore Satyam fraud, although the accounting regulator said it has submitted one in July. “I don’t know why it (ICAI report) is not coming. I am not able to understand […]
