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Oct 16, 2009

UPDATES FROM TAX GURU (in this message: 8 new items)



New Tax Code – Favouring the Millionaires and Bullying the Others

Posted: 16 Oct 2009 06:24 AM PDT


DIRECT TAX CODE BILL, 2009 was unveiled by our Hon. Finance Minister on 12th August 2009 and has been placed in the public domain for an analytical study and critical review of all its clauses. It seeks to consolidate and amend all the Laws relating...

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New direct tax code for salaried persons

Posted: 16 Oct 2009 03:25 AM PDT


In the previous chapter we studied the impact of proposed tax rates and concluded it is more in favour of the rich and not for middle income group. A similar view has also been expressed by group of Senior Income Tax Officials in which they have...

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New Direct Tax code and the investors

Posted: 16 Oct 2009 01:04 AM PDT


Investment may be grouped under realty (house property), investment in bank deposits, Post office Small Saving Schemes, investment in Mutual Funds, investment in direct equity and debt securities, gold or bullion. The incomes from speculative nature...

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New Tax Code and Corporate Taxation

Posted: 16 Oct 2009 12:52 AM PDT


The new code attempts to change the methodology of taxation of business profits from the existing model where the taxable income is equal to business profits with specified adjustments even though this model does not provide for items of receipts...

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Revised procedure for acceptance of address proof alongwith PAN application

Posted: 16 Oct 2009 12:28 AM PDT


While accepting "Application for allotment of PAN (Form 49A)" if both the addresses (residence and office) are mentioned in the application form and office address has been selected as communication address, then POA has to be collected for...

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How to file return in ACES- Part-I

Posted: 15 Oct 2009 11:49 PM PDT


The word automation has its own pros n cons. Anyone have some different imagination of this word. What, why, how, to whom and so many doubt come to their mind. All of sudden this word is on everyone's tongue. Automation…, Automation…, Automation…,...

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No Change in schedule of Chartered Accountants Examinations, November, 2009

Posted: 15 Oct 2009 10:32 PM PDT


Many queries from students/public about change in the schedule of Chartered Accountants Examinations, November, 2009 are being received. It is hereby clarified for information of all the Chartered Accountants Students, their parents and general...

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ICAI annoucement regarding service tax for November, 2009 Examinations

Posted: 15 Oct 2009 10:25 PM PDT


In addition to the Notifications and Circulars given in the Appendix to the RTPs for November, 2009, students may note that rate of service tax has been reduced from 12% to 10% with effect from 24.02.2009 vide Notification No. 8/2009-S.T. dated...

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