| Madhu Koda associate deposited 640 crore cash in one branch of Mumbai bank Posted: 12 Nov 2009 05:10 PM PST This seems to be the biggest slip by an Indian financial institution which is supposed to maintain heightened vigilance on suspicious and high-value cash transactions. At least Rs 640 crore was deposited in cash by one of the alleged front companies... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Procedure to form/incorporate Limited Liability Partnership firm in India Posted: 12 Nov 2009 05:03 PM PST Register yourself on the website of Ministry of Corporate Affairs, developed for LLP services, i.e. www.llp.gov.in. This website may also be accessed through the website of the ministry www.mca.gov.in. On the home page of the URL www.llp.gov.in... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Information Systems Audit (ISA) Course Assessment Test will be held on 19th December, 2009 Posted: 12 Nov 2009 04:49 PM PST No.13-CA(EXAM)/ISA/J/2009: - In pursuance of Rule 7 of Schedule 'F' to Regulation 204 of the Chartered Accountants Regulations, 1988 (as amended vide Notification No. 1-CA(7)/59/2001 dated 28th September 2001), the Council of the Institute of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Brand Name for Packing Industry: – All is well that ends well Posted: 12 Nov 2009 08:38 AM PST SSI Exemption is granted subject to fulfillment of certain conditions which are prescribed in Notification no. 8/2003. One of the conditions prescribed is that the SSI exemption will not be applicable to specified goods bearing a brand name or trade... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Validity of re-opening when no concealment of income and department applied higher tax rate of tax for framing re-assessment Posted: 12 Nov 2009 02:46 AM PST In assessment years 1995-96 and 1996-97, the only identical reason recorded by the Assessing Officer for reopening the assessment, with variation in the amounts involved, is that the interest income under section 244 A has escaped assessment and to... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Interest earned on margin money kept for providing bank guarantee is not exempt Posted: 12 Nov 2009 02:40 AM PST Merely because the interest income is earned by the assessee on account of contractual obligation and the same has been accepted in the regular assessment u/s 143(3) of the Income-tax Act, 1961 does not mean that interest income is not taxable under... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Only simple interest on refund of TDS/Advance tax if refund is paid along with interest within the prescribed time period Posted: 12 Nov 2009 01:46 AM PST When we examine the facts of the present case, we feel that the aforesaid judgment of the Supreme Court would not come to the aid of the assessee and permit the assessee to claim interest on interest in the given situation. As far as the appeals at... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Deductibility of TDS on demurrage charges payable to a foreign shipping company Posted: 12 Nov 2009 01:26 AM PST Section 172 of the Act 1961 is carefully considered by us. Chapter XV titles as "LIABILITY IN SPECIAL CASES". We have no concern with sections, starting from Section 159, till Section 171 from this Chapter XV. Section 172 comes under sub-title... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Construction activity is not manufacturing u/s. 35D of the Income Tax Act, 1961 Posted: 12 Nov 2009 01:23 AM PST Those undertakings would qualify as `industrial undertakings' which are involved in `manufacturing activity'; the activity of construction can, by no stretch of imagination, be treated as manufacturing activity as it does not amount to manufacture... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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