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Sep 11, 2009

UPDATES FROM TAX GURU 12.09.2009 (Deduction U/s 80E)


Deduction under section 80E for Interest on education Loan taken for self and relatives

Have you taken an education loan to support higher studies of yourself or of your spouse, Children or for the student of whom you are legal guardian and you are not aware of the tax benefits that you are entitled to. Then here is a guide that will...

ICWAI urges government for more regulatory powers

Shri Salman Khurshid, Minister for Corporate Affairs, has expressed confidence that under the present scenario, the Cost and Management Accounting professionals can play a major role in government initiative to control the inflation and make...

Rescission of Notification No. 28/2009 – Service Tax, dated 31-8-2009

Notification No. 36/2009-Service Tax, dated 9-9-2009 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 Central Government, on being satisfied...

Income Tax (IT) raid at HDIL , admitted tax evasion of more than 300 crore

The Income Tax (I-T) department has raided 12 Housing Development and Infrastructure (HDIL) premises, reports CNBC-TV18 quoting sources. The raided premises include residences of two HDIL directors. HDIL's shares dropped 3.85% on the Bombay Stock...

SEBI appointed committee recommended limiting the period for participation by QIBs in the IPO to 2 or 3 days

THE Securities and Exchange Board of India (Sebi)-appointed primary market advisory committee (PMAC), which met on Thursday, has recommended limiting the period for participation by qualified institutional buyers (QIBs) in the subscription process...

Stock Exchange card is not an intangible asset eligible for depreciation U/s. 32 (1) of the Income Tax Act 1961

In A judgment that could have a bearing on the tax outgo of many stock brokers, the Bombay High Court on Friday ruled that depreciation cannot be claimed on stock exchange membership cards, while calculating tax liabilities. The I-T Department's...

With Regards, 
CA Sandeep Kanoi 

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