| PCE & top two rank holders for PE-II held in June-2009 
The Institute of Chartered Accountants of India (ICAI) today announced the results of Professional Competence Exam (PCE) and Professional Education Examination (PE-II) held in June-2009. The results were made online in the morning for the exams... |
| ICAI election – 2009 – Availability of List of Voters 
In pursuance of sub-rules (3) and (5) of rule 6 of the Chartered Accountants (Election to the Council) Rules, 2006 specified under the Chartered Accountants Act, 1949 read with regulation 134 of the Chartered Accountants Regulations, 1988, it is... |
| MRTP Act repealed and is replaced by the Competition Act, 2002, with effect from September 1, 2009 
The Ministry of Corporate Affairs, Government of India has issued a Notification dated 28th August 2009, whereby the most controversial the Monopolies and Restrictive Trade Practices Act, 1969 ("the MRTP Act") stands repealed and is replaced by the... |
| Circular on Powers of adjudication of the officers of Customs 
Government of India, Ministry of Finance, Department of Revenue, Central Board of Excise & Customs, North Block, New Delhi Circular No. 23/2009-Customs, Dated : 1st September, 2009 Sir / Madam, I am directed to invite your attention to the... |
| Dos and Don'ts for printing and submitting of ITR-V (Acknowledgment) to ITD-CPC Bangalore 
1. Please use Ink Jet /Laser printer to print the ITR-V Form. 2. The ITR-V Form should be printed only in black ink. 3. Do not use any other ink option to print ITR V. 4. Use of Dot Matrix printer should be avoided. 5. Ensure that print out is clear... |
Penalty paid in the normal course of business is allowed in calculation of tax liabilities 
The Income-Tax Appellate Tribunal (ITAT) has held that any expenditure, which is viewed as an offence or is prohibited by law, but is of a commercial nature incurred in the normal course of business, can be treated as an outgo at the time of... |
| CBDT introduced software to provide automatic alerts for scrutiny assessment 
The Central Board of Direct Taxes (CBDT) has introduced a new software programme, called '360 degree profiling', which would provide automatic alerts for scrutiny assessment of an individual or a company to the income tax department, based on its... |
| DEPB and Duty Drawback are not eligible for deduction u/s 80-IB 
Decided by: Supreme Court of India, In The case of: M/s Liberty India versus Commissioner of Income Tax, Appeal No.: Civil Appeal No. of 2009 (arising out of S.L.P.(C) No. 5827/07), Decided on: August 31, 2009 SUMMARY OF CASE LAW The assessee... |
| Amendment in the notification No. 1/2006- Service Tax, dated the 1st March, 2006 – Transport of goods in containers by rail 
New Delhi, the 1st September, 2009- Notification No. 34/2009-Service Tax In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, on being satisfied that it is necessary in... |
| Notification on Exempt Services in relation to transport of goods by rail 
Finance ministry has rolled back the proposal to impose a 10.3% service tax on goods transported by the railways. Budget 2009-10 had proposed a 10% service tax on goods carried by the railways, 'in order to provide a level-playing field in the goods... |
| Exempt Services in relation to the manufacture of pharmaceutical products, medicines, perfumery, cosmetics or toilet preparations containing alcohol Posted: 02 Sep 2009 06:31 PM PDT 
New Delhi, the 1st September, 2009. Notification No. 32/2009-Service Tax G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act), the... |
| Notification on Exempt Services in relation to sale or purchase of securities listed on a registered stock exchange by a sub-broker 
The government on Wednesday( 02.09.2009 ) exempted business auxiliary services provided by sub-brokers to stock brokers, or by anybody to someone engaged in manufacturing of excisable items like pharmaceuticals, medicines and perfumes from paying... |
| ICAI presidents message to CA community on the XBRL, IFRS, Direct Tax Code, Satyam, Companies Bill, 2009 etc 
Dear CA Pariwar, The enthusiasm of our members and students throughout the country in celebrating our Diamond Jubilee Year has indeed been overwhelming and I would also like to take this opportunity to extend my heartfelt gratitude to all our... |
| Modifications in the e-TDS/TCS data structure and new File Validation Utility applicable from October 1, 2009 
The data structure of quarterly e-TDS / TCS statements has been modified by the Income Tax Department to incorporate certain additional fields and validations to further improve the data quality. New data structure (File format changes highlighted)... |
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