Income deemed to accrue or arise in India to non residents: Budget 2010 Posted: 20 Mar 2010 10:41 AM PDT The question / dispute has been arising that where the Non-resident has rendered services from outside India whether the source of income shall be considered to be lying in India for the purpose of Section – 9. This dispute was settled by Hon'ble... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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Union budget 2010 and impact on real estate industry Posted: 20 Mar 2010 10:24 AM PDT Interest subvention on housing loans: A scheme was introduced by the Finance Minister in Union Budget of 2009-10, wherein an interest subvention of 1% was available on housing loans of upto INR1 million, provided the cost of house does not exceed... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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Budget 2010 and its Impact on Information technology (IT) industry Posted: 20 Mar 2010 09:32 AM PDT Budget 2010 proves to be a mixed bag for the IT industry. From a Technology Policy stand-point, the resolve of the Government in setting up a 'Technology Advisory Group', to look into various technological and systemic issues for effective tax... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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Employees' contributions to Social Security Schemes paid before the due date of filing return of Income is allowable Posted: 20 Mar 2010 08:33 AM PDT Income tax - Sec 36(1)(va), 43B - Assessee deposits employer's contribution as well as employees' contribution to PF and ESI after due date - AO disallows and CIT(A) agrees with him - Assessee files application u/s 154 for rectification of mistake... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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Applicability of relevant Corporate Laws for the CA Final (Old & New Course) – May 2010 Examinations Posted: 20 Mar 2010 07:59 AM PDT Applicability of relevant Corporate Laws for the CA Final (Old & New Course) - May 2010 Examinations [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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Tax rate applicable for A.Y. 2011-12 on Income, Dividend, Wealth, MAT, STT, Capital Gain and Presumptive Income Posted: 20 Mar 2010 06:04 AM PDT (a) In the case of a resident woman below the age of 65 years, the basic exemption limit is INR 190,000. (b) In the case of a resident individual of the age of 65 years or above, the basic exemption limit is INR 240,000 (c) Surcharge is not... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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No capital gains on conversion of partnership into private limited company irrespective of subsequent change in the shareholding :AAR Posted: 20 Mar 2010 04:30 AM PDT No capital gains are accrued or arisen at the time of conversion of partnership into a private limited company under Part IX of the Companies Act, irrespective of subsequent change in the shareholding of such company [Umicore Finance Luxembourg (AAR... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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Taxability of Non-resident on services rendered in India on purchase- AAR Posted: 20 Mar 2010 02:00 AM PDT This Article summarizes a recent ruling of the Authority for Advance Rulings (A.A.R. No. 825 OF 2009) in the case of Aramco Overseas Company B.V. (Applicant) on the issue of taxation of procurement support services rendered by the Indian liaison... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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How to make the arbitration mechanism truly effective? Posted: 20 Mar 2010 01:36 AM PDT With a very laudable objective of speedy disposal of cases, Alternative Dispute Resolution Mechanism (ADR) is mooted. Among the modes of Alternative Dispute Resolution Mechanism, Arbitration is most discussed issue always as many agreements or... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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Speculative loss of earlier years can be set off against profit earned on delivery-based share trading or deemed speculative business profit Posted: 19 Mar 2010 10:53 PM PDT CIT vs. Lokmat Newspapers (Bombay High Court) (Income Tax Appeal No 3005 of 2009). Speculative loss incurred in earlier years by a company can be set off against profit earned on delivery-based share trading transactions. The HC held that since the... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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Payment made in pursuance of Cost Contribution Agreement by various entities of a Group in the R & D activities carried out centrally would not be liable to tax in India: AAR Posted: 19 Mar 2010 10:33 PM PDT ABB Limited (applicant), an Indian company, has various business divisions such as power products and systems, automation systems, process automation and robotics systems. The appellant is a part of the ABB Group, which is a leader in power and... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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Custom duty circular on Rebate under Rule 18 on clearances made to SEZs Posted: 19 Mar 2010 09:23 PM PDT rebate under Rule 18 is admissible when the supplies are made from DTA to SEZ. The Circular also lays down the procedure and the documentation for effecting supply of goods from DTA to SEZ, by modifying the procedure for normal export. Clearance of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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Liquidity Adjustment Facility – Repo And Reverse Repo Rates increased by 0.25 percent Posted: 19 Mar 2010 09:07 PM PDT As a part of the calibrated exit strategy initiated in the Second Quarter Review in October 2009 and carried forward in the Third Quarter Review in January 2010, the Reserve Bank of India has decided to raise the repo rate under the Liquidity... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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