| If the sum not chargeable to tax in India, then tax not required to be withheld under Section 195 of the Act while making the remittance outside India Posted: 19 Feb 2010 08:06 PM PST AAR Ruling: The amount received on account of assignment of rights, title, interest, obligations and duties in connection with the supply of products is not taxable in India in the absence of a Permanent Establishment and therefore, tax is not... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Advance ruling on taxability of salary of Indian working abroad Posted: 19 Feb 2010 07:46 PM PST An individual who resides in India for a period of less than 182 days during the previous year and is residing outside India for the purpose of employment, then irrespective of the fact of his presence in India for the period of 365 days or more... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Review of the Economy – 2009-10 Highlights Posted: 19 Feb 2010 07:36 PM PST Dr. C. Rangarajan, Chairman, Economic Advisory Council to the Prime Minister released the document 'Review of the Economy-2009-10' at a Press Conference in New Delhi today. Following are the highlights of the document: Strong rebound in the second... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Maharashtra State Level Urban Co-op Banks & Credit Societies: Change in Empanelment and allotment procedure Posted: 19 Feb 2010 07:19 PM PST The Commissioner Co-operation has issued circular dated 27th January, 2010 and all of sudden changed the procedure for allotment of State Level Urban Co-operative Banks and Credit Co-operative Societies. This circular has also expanded the scope... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Big four's promotions event may come under ICAI scanner Posted: 19 Feb 2010 07:10 PM PST Big four watch out. The audit profession regulator, the Institute of Chartered Accountants of India (ICAI), plans to delve into some of the surrogate advertising practices of international firms with presence in India. In particular, awards given by... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Clarification regarding valuation of free samples of the products covered under MRP based assessment Posted: 19 Feb 2010 06:39 PM PST Attention of field formations is invited to Board's circular No. 813/10/2005-CX dated 25.4.2005 issued from F.No. 6/39/2000- CX1 wherein it was clarified that in the case of free samples, the value should be determined under Rule 4 of the Central... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Excise duty Notification No. 04/2010-Central Excise (N.T.) Posted: 19 Feb 2010 06:36 PM PST In the Central Excise Rules, 2002 (hereinafter referred to as the said rules), in rule 8, in sub-rule (1), in third proviso, for the words "duty of fifty lakhs rupees or more, other than the amount of duty paid by utilization of CENVAT credit, in... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Order Appointing Common Adjudicating Authority in the case of Max Enterprises Posted: 19 Feb 2010 06:27 PM PST In exercise of the powers conferred under the Notification No. 37/2003-Customs (N.T.) dated 3rd June, 2003 issued under sub-section (1) of section 4 of the Customs Act, 1962 (52 of 1962), the Board hereby assigns the Show Cause Notice F.No.... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Customs Notification Appointing Common Adjudicating Authority in the case of Larsen and Tubro Limited and others Posted: 19 Feb 2010 06:23 PM PST In exercise of the powers conferred by sub-section (1) of section 4 and sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby appoints the Commissioner of Central Excise, Mumbai IV to act... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Customs Notification Appointing Common Adjudicating Authority in the case of M/s. Hazel Mercantile Private Limited and M/s Veritas Exports Posted: 19 Feb 2010 06:20 PM PST adjudicating the matters relating to Show Cause Notice pertaining to M/s. Hazel Mercantile Private Limited and M/s Veritas Exports (a division of Sanman Trade Impex), issued by the Special Intelligence and Investigation Branch (Export), New Custom... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Customs Notification Appointing Common Adjudicating Authority in the case of Tristar Airconditioning (P) Limited Posted: 19 Feb 2010 06:14 PM PST In exercise of the powers conferred by sub-section (1) of section 4 and sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby appoints the Commissioner of Customs, The Mall, Amritsar to... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| CUSTOMS Notification No 13/2010 (NT), Appoints Common Adjudicating Authority Posted: 19 Feb 2010 06:10 PM PST In exercise of the powers conferred by sub-section (1) of section 4 and sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby appoints the Commissioner of Customs (Import), Sahar Air Cargo... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| CUSTOMS Notification No 12/2010 (NT), Appoints Common Adjudicating Authority Posted: 19 Feb 2010 06:07 PM PST In exercise of the powers conferred by sub-section (1) of section 4 and sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby appoints the Commissioner of Customs (Adjudication), Mumbai to... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Payment of Interest on Savings Bank Account on Daily Product Basis: RBI notification Posted: 19 Feb 2010 05:58 PM PST Please refer to our circular DBOD. No. Dir. BC.128/13.03.00/2008-09 dated April 24, 2009 advising banks that in view of the present satisfactory level of computerisation in commercial bank branches, it is proposed that payment of interest on savings... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| RBI notification on Interest Rates on Export Credit in Foreign Currency Posted: 19 Feb 2010 05:53 PM PST It has been decided, in consultation with the Government of India, to reduce the ceiling rate on export credit in foreign currency by banks to LIBOR plus 200 basis points from the present ceiling rate of LIBOR plus 350 basis points with immediate... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| RBI notification on Setting up of Cash Processing Centres – Recommendation of HLG Posted: 19 Feb 2010 05:44 PM PST Since banks may find it difficult to install/maintain machines at all their branches dealing with notes of high denomination, it has been decided to accept the Group's recommendations with respect to CPC and encourage the banks to set up state of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Tax havens hit exchequer, harm national security: India Posted: 19 Feb 2010 05:36 PM PST "The opaque system of exchange of information in these tax havens and their non-compliant behaviour are matter of concern not only for revenue base but also linked to financing of activities which are detrimental to the national security interests,"... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Five Insurance policies everyone must have Posted: 19 Feb 2010 05:28 PM PST Protecting your most important assets is an important step in creating a solid personal financial plan. The right insurance policies will go a long way toward helping you safeguard your earning power and your possessions. In this article, we'll show... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Delhi HC given provisional permission to US based CFA institute to conduct exams in India Posted: 19 Feb 2010 05:22 PM PST The Delhi High Court has given 'provisional permission' to the US-based Chartered Financial Analyst (CFA) Institute to register candidates for its exam slated to be held in India this June. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| CBI investigating role of banks in multi-crore foreign exchange losses to customers on derivative products sold by the banks Posted: 19 Feb 2010 05:10 PM PST Following an Orissa High Court order, the CBI has started investigation into the role of banks in multi-crore foreign exchange losses suffered by customers, who bought derivative products sold by the banks. Sources said while CBI has already... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| EPFO subscribers likely to get 8.5 per cent interest on their provident fund (PF) deposits for 2010-11 Posted: 19 Feb 2010 05:02 PM PST For the sixth year in a row, the EPFO subscribers are likely to get 8.5 per cent interest on their provident fund (PF) deposits for 2010-11. The Employees' Provident Fund Organisation (EPFO) with a subscriber base of over 4.7 crore has been... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Wipro not looking to file complain against CA employee who siphoned off around $4 million Posted: 19 Feb 2010 04:54 PM PST Wipro, the information technology to soaps conglomerate, says it is unlikely, at least for now, to file a formal complaint against the employee who recently siphoned off around $4 million (around Rs 18 crore) from the company's bank account by... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| MNCs wants Introduction of the concept of advance pricing arrangements (APAs) in budget 2010-11 Posted: 19 Feb 2010 04:48 PM PST Introduction of the concept of advance pricing arrangements (APAs) in the tax statute is regularly been in the Budget wish-list of multinational enterprises since 2001, when the transfer pricing legislation was enacted, APAs are essentially an... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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