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Jun 20, 2009

UPDATES FROM TAX GURU 21.06.2009

UPDATES FROM TAX GURU



Frequently Asked Question on fringe benefit tax (FBT) PART- 4


76. Whether expenditure incurred on prizes/rewards to employees for achievements is liable to FBT? Any expenditure incurred on prizes/rewards to employees for achievements would fall within the scope...


Frequently Asked Question on fringe benefit tax (FBT) PART- 3


51. Whether expenditure incurred during in-house employee training would be considered as conference expense and liable to FBT? The FBT is not envisaged for levy on the expenditure incurred for the...


Frequently Asked Question on fringe benefit tax (FBT) PART- 2


32. Whether gross expenses or net expenses (i.e. net of recovery) are to be considered for the purposes of FBT? For example, part of the expenses on various items like travel, may be recovered from....


Frequently Asked Question on fringe benefit tax (FBT) PART- 1


The Central Board of Direct Taxes has issued a list of frequently asked questions with answers on Fringe Benefit Tax, clarifying some issues raised by the trade and industry at different fora after...


The Maharashtra Tax Laws (Levy, Amendment and Validation) Bill, 2009 passed in 2009 Mahrashtra Government Budget


L.A.BILL No.XIV of 2009 A BILL Further to amend certain tax laws in operation in the State of Maharashtra WHEREAS it is expedient further to amend certain tax laws in operation in the State of...


Circular on Validity of Form 'I' under Central Sales Tax Act issued by Sales Tax Department


TRADE CIRCULAR No.VAT/2008/ Noti/27/Adm- 6/ Mumbai,Dt. 20.06.09 (Trade Cir.No.- 19 T of 2009) Sub: Form 'I' under Central Sales Tax Act. Ref:  Clarification on Trade Circular No.8T of 2005 dt.....


Deloitte may be the new statutory auditor of Satyam


The Satyam scam had its auditors PWC red in the face. Raju had cooked the books for many years and did the auditors fail or were partners in the crime, is for the investigative agencies to find...


Government Notified rules related to Delisting of listed shares


Government Notifies Delisting Rules The Securities Laws (Amendment) Act enacted in 2005, incorporated section 21(A) in the Securities Contract Regulation Act (SCRA) to allow delisting of...


Ex- President, Ex- Senior Vice-President, Ex-Vice-President and Members cannot practice before ITAT


Ministry of Law & Justice, Department of legal Affairs, New Delhi Notification Dated : 3rd June 2009 GSR 889 (E). In exercise of the powers conferred by the Proviso to section 309 of the...

With Regards, 
CA Sandeep Kanoi 
Website: http://www.taxguru.in/ 
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UPDATES FROM TAXGURU