| Scrutiny assessment under the Income Tax Act 1961 Posted: 07 Mar 2010 07:40 PM PST The Scrutiny Assessments under Income Tax Act 1961 are made u/s 143(3). For many years now many of the returns of the assesses are accepted as they are being filed by the assesses and intimation is sent u/s 143(1) and only fewer cases are selected... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Income Tax Act : A few words Posted: 07 Mar 2010 07:19 PM PST Income Tax Act is a comprehensive as well as a complex enactment of fiscal Statutes of the country. With the passage of time it has undergone various changes keeping in view the socio economic needs of the society and the broader objective of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| All you need to know about tax planning for financial year 2009-10 or Assessment Year 2010-11 Posted: 07 Mar 2010 08:24 AM PST As the financial year draws to a close, we all start feeling the heat and realise that yes, now we have to invest in order to save tax. Whilst investing with tax saving and tax planning in mind is the key, these investments must be part of a larger... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Amount eligible for tax holiday is specific to each undertaking of the Taxpayer: Chennai Special Bench Posted: 07 Mar 2010 07:18 AM PST whether the losses of an undertaking of the Taxpayer which is not eligible for tax holiday (Non-eligible Undertaking), are required to be set off against the profits of another undertaking of the Taxpayer which is eligible for tax holiday (Eligible... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Fees received on assignment of contractual rights not taxable: Authority of Advance Ruling Posted: 07 Mar 2010 07:03 AM PST The AAR held that the fee received by US Co from the Applicant is in the nature of business profits of US Co and the same is not taxable in India in the absence of US Co constituting a permanent establishment (PE) in India under the India-US tax... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Supreme Court rules write off of debt is sufficient for claiming bad debts Posted: 07 Mar 2010 06:43 AM PST In a recent ruling Supreme Court in the case of TRF Ltd. on the issue of whether a taxpayer, while claiming deduction of bad debts in its return of income, is required to establish that the debts have, in fact, become irrecoverable. The SC held that... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Budget 2010: Direct and Indirect Tax Proposals for Oil and gas Sector Posted: 07 Mar 2010 06:24 AM PST Last year's budget had introduced an investment linked tax incentive for specified business including the business of laying and operating a cross country natural gas or crude or petroleum oil pipeline network for distribution, including storage... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Major Highlights of Karnataka State Budget 2010 -11 Posted: 07 Mar 2010 05:55 AM PST VAT exemption on paddy, rice, wheat, pulses and products of rice and wheat extended for one more year from 1.4.2010. Tax on Masala Powder Mixtures, Macaroni, Sports Trophies, Shields and Medals, all kinds of scrap, Electric generators of less... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| New Chinese Weapon: Currency Posted: 07 Mar 2010 02:08 AM PST China has been the prime leader of 2009 in economic recovery competition. The stimulus package has helped china to have a GDP growth rte of 10% beyond the forecast of any economist across the world. China apart from stimulus package the undervalued... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Inflation Shadow is Part of Higher GDP Posted: 06 Mar 2010 11:18 PM PST We have been hearing after the budget that increase in the limits of tax slab followed with some other measures which will result to increase the flow of funds on the street will spook inflation. It has now become caller tune of Indian economy.... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| CA Placement : Top Salary zooms to 70 lakh Posted: 06 Mar 2010 11:07 PM PST Creating a record in its placement history, the Institute of Chartered Accountants of India (ICAI) has placed three of its candidates at a record salary of close to Rs 70 lakh with Singapore-based Olam International. This is the highest ever salary... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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