| Watch union Budget 2010-11 live on Internet from your computer Posted: 25 Feb 2010 08:00 PM PST NDTV and CNN IBN are the two leading news channels of India. People who are away from India or don't have access to these channels on their TVs can view budget online on these channels for free. The official sites of NDTV and CNN IBN hosted the live... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| ITAT order in Nokia tax evasion case, Challenged by department in HC Posted: 25 Feb 2010 07:27 PM PST In its petition, the income tax department said the ITAT has wrongly deleted the penalty imposed by it on Nokia India for allegedly wrongly declaring its income. The government on Wednesday approached the Delhi high court challenging an order of the... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Budget may empower high court to condone delay in filing appeals by Income tax department Posted: 25 Feb 2010 07:21 PM PST Rewriting the law to clearly empower high courts to condone a delay in filing tax appeals or applications has been recommended by the Central Board of Direct Taxes (CBDT); it wants this to apply with retrospective effect, too. The amendment,... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Amendment in LLP law likely to allow registration of large size consultancy firms in India Posted: 25 Feb 2010 07:16 PM PST The government is set to introduce Bills to amend existing laws governing chartered accountants, cost accountants and company secretaries in the current Budget session, a senior government official said. The proposed amendments will allow... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Budget may have some good news for taxpayers Posted: 25 Feb 2010 06:33 PM PST Increase in basic exemption limit:- Sources familiar with the developments said the finance minister may increase the basic exemption limit for individuals from Rs 1,60,000 to Rs 1,80,000-Rs 200,000. There could be an increase in the exemption... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| What we can expect from budget and what we should not? Posted: 25 Feb 2010 06:27 PM PST Fiscal prudence: Corrective measures to repair India's balance sheet seem imminent. The fiscal position stands stressed with a 16-year high deficit of 6.8% of GDP. With Central Statistical Organisation advance estimates hinting at a GDP growth of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| CBDT reinstated TDS rules and forms existed prior to April 1, 2009 Posted: 25 Feb 2010 06:14 PM PST The Central Board of Direct Taxes (CBDT) has reinstated the tax deduction at source (TDS) rules/ forms that were earlier discontinued with effect from April 1, 2009. This latest move, which would come into effect retrospectively from April 1, 2009,... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Highlights of Economic Survey 2009-10 Posted: 25 Feb 2010 05:57 PM PST Economy posted a remarkable recovery expected to grow at 7.2 per cent in 2009-10 against 6.7 per cent in 2008-09. Survey hopes the Indian GDP can be expected to grow around 8.5+/- 0.25 per cent, with a full recovery, breaching the 9 per cent mark in... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Deduction under section 80-I allowable without setting off loss of other units: Delhi High Court Posted: 25 Feb 2010 05:48 PM PST The assessee had two units, namely, a steering unit and an axle unit, both of which were eligible u/s 80-I. While one unit was making profits, the other was incurring losses. The AO and CIT (A) took the view that deduction u/s 80-I on the profits of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Special Economic Zones approved in States Posted: 25 Feb 2010 05:29 PM PST In addition to the Seven Central Government SEZs and 12 State/ Private Sector SEZs set up prior to the enactment of SEZ Act, 2005, formal approval have been accorded to 571 proposals out of which 348 SEZs have been notified. A total of 105 SEZs are... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Summary of Economic Survey 2009-10 Posted: 25 Feb 2010 05:16 PM PST The Economic Survey presented to Parliament on 25.02.2010 says that the economy has bounced back from the global economic slowdown and is on its way to the growth path of 9 per cent. The CSO estimate of 7.2 per cent GDP growth for 2009-10 reflects... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Expectations from Budget 2010-2011 Posted: 25 Feb 2010 01:13 AM PST On February 26' 2010, the Finance Minister Mr. Pranab Mukherjee will present the Union Budget in the Parliament. Everyone is awaiting the announcement of Budget to see that their interest has been taken care of. There is a lot of speculation about... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Proceedings Relating To Appeals & Revisions under the I. T. Act, 1961 Posted: 24 Feb 2010 11:07 PM PST Right of Appeal is a creature of Statute. A person has no inherent right of appeal and hence, it cannot come under the category of fundamental rights. An appeal is a continuation of assessment proceedings. Assessment proceedings complete when appeal... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Summary of points to be discussed on Disallowance u/s. 14A read with. Rule 8D & Discussion on Daga Capital Judgment of Mumbai ITAT Posted: 24 Feb 2010 10:20 PM PST Section 14A and Daga Capital can not put assessee in worse position. In other words section 14A disallowance under Rule 8D can not exceed original disallowance made at the time of assessment. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] |
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