Centre
Posted Date : 02-Oct-2012 , 08:47:18 am | Posted By CASANSAAR
The Centre said that the guidelines for implementation of General Anti Avoidance Rules (GAAR) will be finalised by the Income Tax department by the end of this month. Talking to reporters in New Delhi today the Finance Minister P Chidambaram said GAAR rules will be first vetted by the Law Ministry. ...
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Income Tax |
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CAG not 'munimji', it's a constitutional authority: SC
Posted Date : 01-Oct-2012 , 08:11:37 pm | Posted By CASANSAAR
Observing that the "CAG is not a munim (accountant)" the Supreme Court on Monday dismissed a plea challenging the Comptroller and Auditor General's power to conduct performance audit of controversial allocation of coal blocks by the UPA government. A bench of justices R M Lodha and A R dave said the...
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Income Tax |
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0 | Hits : 789
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Rs 3,561 cr integrated development plan approved for Ludhiana
Posted Date : 01-Oct-2012 , 08:33:52 am | Posted By CASANSAAR
The Punjab government on Sunday approved “Mission Ludhiana” — a Rs 3,651-crore integrated development plan for the industrial city and its adjoining areas.
In a meeting here on Saturday, Deputy Chief Minister Sukhbir Singh Badal also tied up the financial resources for the...
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General |
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Levy of Service Tax on Railway Passengers Travelling in AC Classes/First Class from tomorrow i.e. 1st October 2012
Posted Date : 30-Sep-2012 , 08:17:40 pm | Posted By CASANSAAR
Levy of Service Tax on Railway Passengers Travelling in AC Classes/First Class from tomorrow i.e. 1st October 2012 No Service Tax to be Levied on Tickets Issued Prior to 1st October 2012 In Case of Cancellation of Tickets Issued on or after 1st October 2012, the Applicable Amount Inc...
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Service Tax |
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0 | Hits : 932
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e-Filing Helpline Numbers.
Posted Date : 29-Sep-2012 , 09:47:14 pm | Posted By CASANSAAR
For any query relating to e-filing of Income Tax Return, please call 18001801961 or 08026500025.
For any query regarding status of e-filed return and ITR-V please call 18004252229....
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Income Tax |
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0 | Hits : 968
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'eBay International
Posted Date : 29-Sep-2012 , 06:29:12 pm | Posted By CASANSAAR
eBay International AG, a Swiss tax resident, need not fork out any income-tax on the profits earned from its two India-specific Web sites.
This ruling of the Mumbai Income Tax Appellate Tribunal is a significant one in the context of e-commerce transactions, say tax experts.
The Tr...
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Income Tax |
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0 | Hits : 808
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Opening of special return receipt counters on 29th and 30th September, 2012.
Posted Date : 29-Sep-2012 , 06:16:01 pm | Posted By CASANSAAR
CBDT has decided that the Income-tax Offices all over India shall make special arrangements by opening receipt counters on 29th and 30th September, 2012 for the convenience of taxpayers.
Click here for CBDT Order...
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Income Tax |
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0 | Hits : 820
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Justice Altamas Kabir to be sworn in as Chief Justice of India today
Posted Date : 29-Sep-2012 , 11:14:02 am | Posted By CASANSAAR
Justice Altamas Kabir, the senior-most judge of the Supreme Court will be sworn in as the next Chief Justice of India today. Justice Kabir, 64, who will succeed Justice Sarosh Homi Kapadia, will serve a tenure of nine months till July next year.
The new appointee has delivered several...
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General |
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Due date of filing of e-forms 23AC (Non-XBRL) or 23ACA (Non-XBRL) as per new schedule VI is now further extended
Posted Date : 29-Sep-2012 , 11:05:15 am | Posted By CASANSAAR
General Circular No.30/2012, Dated: – 28th September, 2012
The Ministry has issued general circulars No. 21/2012 dated 28/09/12 and No. 28/2012 dated 03/09/12 extending time for filing e-form 23AC (Non-XBRL) and 23ACA (Non-XBRL) up to 15/10/12 or within 30 days from the date o...
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Corporate Law |
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0 | Hits : 2099
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Kelkar panel suggests comprehensive review of 'Direct Taxes Code' Bill
Posted Date : 29-Sep-2012 , 09:00:48 am | Posted By CASANSAAR
The government appointed panel to suggest a roadmap for fiscal consolidation has recommended a comprehensive review of the Direct Taxes Code Bill and bringing in more services in the tax net.The Kelkar Committee also recommended amendment to the law to make quoting PAN or the UID...
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Income Tax |
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0 | Hits : 895
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Plea to extend date for I-T return filing
Posted Date : 29-Sep-2012 , 08:54:52 am | Posted By CASANSAAR
All India Federation of Tax Petitioners (AIFTP) has urged the Central Board of Direct Taxes for extension of income tax return filing date this year. It pointed out that the due date on September 30 is a Sunday.
AIFTP said CBDT should issue a clarification as it did in 1992. The half-yearl...
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Income Tax |
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0 | Hits : 1542
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No service tax on railway tickets booked before Oct 1
Posted Date : 29-Sep-2012 , 08:52:25 am | Posted By CASANSAAR
Passengers who have booked AC train tickets before October 1 will not have to pay service tax imposed by the finance ministry, the railways clarified on Friday.
Also, in case of cancellation of tickets booked on or after October 1, the refundable amount will include service tax.
After a public out...
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Category :
Service Tax |
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0 | Hits : 848
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ICAI Invites Applications from Highly Competent Candidates for the Positions of SECRETARY, TECHNICAL DIRECTOR and DIRECTOR (TAXATION)
Posted Date : 28-Sep-2012 , 03:44:32 pm | Posted By CASANSAAR
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA(Premier professional body set up by an Act of Parliament)ICAI Bhavan, Indraprastha Marg, Post Box No. 7100, New Delhi 110 002. ICAI invites applications from highly competent candidates for the positions of
SECRETARY,TECHNICAL DIRECTORand&n...
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Income Tax |
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0 | Hits : 1052
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Sahara agrees to refund Rs 24,000 crore to investors in 3 months
Posted Date : 28-Sep-2012 , 03:34:10 pm | Posted By CASANSAAR
Sahara Group on Friday assured the Supreme Court that its two companies which had raised Rs 24,000 crore through Optionally Fully Convertible Debentures (OFCDs) from their investors will refund the amount within three months.
“We will refund the amount. There is no question of going b...
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General |
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Finance Minister P Chidambaram to review Income Tax department's appeal-filing mechanism soon
Posted Date : 28-Sep-2012 , 08:18:57 am | Posted By CASANSAAR
Finance Minister P Chidambaram is likely to review the entire appeal-filing mechanism of the Income Tax department in view of concerns expressed by the Supreme Court recently over delays in revenue cases. The Minister may review the mechanism in the middle of next ...
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Category :
Income Tax |
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0 | Hits : 721
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RBI extends interest rate ceiling on export credit to six months
Posted Date : 28-Sep-2012 , 08:14:49 am | Posted By CASANSAAR
The Reserve Bank today extended the interest rate ceiling on export credit with overseas banks to six months. "It has been decided that the interest rate ceiling on lines of credit with overseas banks will continue to be six months Libor/Euro Libor/Euribor plus 250...
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RBI |
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0 | Hits : 833
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Same name, Birthday get 2 Men same PAN number
Posted Date : 28-Sep-2012 , 08:11:39 am | Posted By CASANSAAR
PAN numbers are supposed to be like fingerprints. No two people can have the same one.
Well, the Income Tax department seems have made an exception.
The I-T department issued the same Permanent Account Number (PAN) to two different persons with the same name. The aggr...
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Income Tax |
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0 | Hits : 1302
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Service tax refund may pose a problem to rail passengers
Posted Date : 28-Sep-2012 , 08:08:32 am | Posted By CASANSAAR
The notification, levying service tax on high-end railway passenger fares, cargo and auxiliary services from October 1 just might leave passengers in the lurch in case they prefer to cancel their tickets as it would not be the job of the railways to refund the levied tax.
The service tax on...
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Category :
Service Tax |
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0 | Hits : 966
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Income Tax department defends retrospective tax in McLeod case
Posted Date : 28-Sep-2012 , 08:07:32 am | Posted By CASANSAAR
The Income Tax department has sought the dismissal of a plea filed by tea producer McLeod Russelagainst state's powers to tax transactions retrospectively.The department maintains that the state has powers to tax with retrospective effect and the amendments introduced in the Finance B...
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Category :
Income Tax |
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0 | Hits : 683
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Sandeep Patil replaces K Srikkanth as chief BCCI selector, Mohinder Amarnath dropped
Posted Date : 27-Sep-2012 , 04:37:43 pm | Posted By CASANSAAR
Former Indian cricketer Sandeep Patil was on Thursday appointed the Chairman of the national selection committee, whileMohinder Amarnath was sacked after serving just one year in the panel.
The 56-year-old Patil's appointment to the hot seat, replacing Kris Srikkanth, came as a ...
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General |
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0 | Hits : 831
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Invitation to act as Checker for Chartered Accountants Examinations
Posted Date : 27-Sep-2012 , 08:22:05 am | Posted By CASANSAAR
Examination Department of the Institute would like to avail the services ofthe members of the Institute (upto 15 years of Experience) to act as Checker fortotaling etc. of marks awarded by examiner, other details are as under:
The Examination Department of the Institute avails the services ...
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ICAI |
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0 | Hits : 1895
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Service tax on AC and first class rail fares from Oct.1
Posted Date : 27-Sep-2012 , 08:06:11 am | Posted By CASANSAAR
Service tax will be levied on high-end passenger classes, freight and auxiliary services rendered at railway stations from October 1.
The decision was taken on Wednesday at a meeting between Railway Minister C.P. Joshi and Finance Minister P. Chidambaram.
Fares of air-conditioned c...
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Service Tax |
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0 | Hits : 932
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Vodafone not ready to settle tax dispute at Rs 8,000 crore
Posted Date : 27-Sep-2012 , 08:01:43 am | Posted By CASANSAAR
British telecom company Vodafone never said that it was ready to resolve its tax dispute with theIndian government if the interest and penalty on the tax liability is waived, a person close to the company said."Vodafone has never expressed a willingness to settle the t...
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Category :
Income Tax |
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0 | Hits : 813
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Tax residency certificate now mandatory for foreign investors
Posted Date : 26-Sep-2012 , 09:54:40 pm | Posted By CASANSAAR
India has made it mandatory for all foreigners to furnish a tax residency certificate of their home country to claim benefits under the double taxation avoidance agreement. This will make the process of claiming tax credit easier for foreigners by removing the arbitrariness in the earlier regim...
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Category :
Income Tax |
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0 | Hits : 848
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Sebi moves SC against Sahara Group
Posted Date : 26-Sep-2012 , 09:37:46 pm | Posted By CASANSAAR
Market regulator Sebi on Tuesday approached the Supreme Court accusing the Sahara Group of not complying with its order to furnish documents about its two companies which were directed to refund around Rs 24,000 crore to their investors.Sebi filed an application alleging that the...
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SEBI |
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0 | Hits : 819
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RBI allows NRIs to pick up shares, debentures at face value
Posted Date : 26-Sep-2012 , 09:35:36 pm | Posted By CASANSAAR
The Reserve Bank of India today said non-residents, including NRIs, can make investment in an Indian company at the face value of shares or debentures subject to compliance with FDI scheme."It has been decided that in cases where non-residents (including NRIs) make investment in an Indian company in...
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RBI |
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0 | Hits : 872
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Sebi notifies MF reforms; changes to be effective from Oct.
Posted Date : 26-Sep-2012 , 09:27:02 pm | Posted By CASANSAAR
Market regulator Sebi today notified wide-ranging reforms for mutual fund sector, which would provide incentives to fund houses for expanding to small cities but might result in additional costs for investors.
The changes, which would come into effect from next month, would require fund houses to m...
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SEBI |
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MCA 21 Second Cycle to Benefit all the Companies and LLPS Registered in India . Dr. M.Veerappa Moily
Posted Date : 26-Sep-2012 , 09:24:09 pm | Posted By CASANSAAR
The MCA21 is considered as one of the most successful mission mode project (MMP) having implemented many innovations viz. internet payments, credit card payment, electronic issuance of stamp paper (e-stamp), use of adobe e-forms, end-to-end electronic work flow and digital signature (DSC) based elec...
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Category :
Corporate Law |
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0 | Hits : 892
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Yahoo! names Ken Goldman as Chief Financial Officer
Posted Date : 26-Sep-2012 , 03:33:26 pm | Posted By CASANSAAR
Yahoo! today said Ken Goldman will join the company as chief financial officer (CFO) with effect from October 22, as recently appointed chief Marissa Mayer tries to turn around the Internet company.
In this role, he will be responsible for the company's global finance functions, including f...
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Category :
International Business |
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0 | Hits : 781
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ED attaches Emaar MGF
Posted Date : 26-Sep-2012 , 08:19:19 am | Posted By CASANSAAR
Enforcement Directorate has attached properties owned by Emaar MGF, the builder of Commonwealth Games Village in Delhi and several projects in Hyderabad, for alleged violation of Prevention of Money Laundering Act.
The attachment concerns the company's properties in Kalkaj...
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Category :
Finance |
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