FAQ on General principles Governing HUF Posted: 10 Mar 2010 07:53 PM PST Hindu Undivided Family ("HUF") which is same as joint Hindu family is a body consisting of persons lineally descendant from a common ancestor, including their wives and unmarried daughters, who are staying together jointly; joint in food, estate and... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]
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S&P CNX Nifty – Frequently Asked Questions Posted: 10 Mar 2010 07:47 PM PST 1. What are the essentials of a stock market index ? 2. What do the ups and downs of an index mean? 3. What is the basic idea of an index? 4. What kind of averaging is done? 5. What is the portfolio interpretation of index movements? 6.... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]
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Income tax provisions related to Transfer pricing and arms length price Posted: 10 Mar 2010 07:35 PM PST The Finance Act, 2001 substituted section 92 with a new section and introduced new sections 92A to 92F in the Income-tax Act, relating to computation of income from an international transaction in order to facilitate the computation of reasonable,... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]
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Existing taxation provision of Long term capital gains may continue in DTC Posted: 10 Mar 2010 07:24 PM PST The government is likely to maintain the distinction between short term and long-term capital gains to encourage long-term savings, as it deliberates the draft direct taxes code. The finance minister said in his Budget speech that the new direct... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]
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Tax planning to be done once Exempt Gratuity Limit Increase to 10 Lakh Posted: 10 Mar 2010 07:20 PM PST With the government raising the gratuity limit, it makes sense to negotiate for a higher basic salary to ensure a better payout. The Union cabinet's decision to raise the tax-free gratuity limit from Rs 3.5 lakh to Rs 10 lakh is likely to become a... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]
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Convergence with International Financial Reporting Standards Posted: 10 Mar 2010 06:48 PM PST The Government has informed Lok Sabha that the Government has adopted the approach of convergence of Accounting Standards issued under the Companies Act, 1956 with the International Financial Reporting Standards (IFRS), keeping in view the... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]
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No proposal for any upper cap on the number of independent directors: Union Government Posted: 10 Mar 2010 06:35 PM PST The Companies Bill, 2009 has not proposed any upper cap on the number of independent directors, but, sub-clause (3) of clause 132 of the Companies Bill, 2009 provides that at least one-third of total directors shall be independent directors to be... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]
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The number of pending cases in CBI decline Posted: 10 Mar 2010 06:32 PM PST The main reasons for the pendency are, time taken in collection and scrutiny of voluminous documents, examination of large number of witnesses, scientific and forensic examination of exhibits, obtaining expert advice and shortage of officers at the... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]
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20 IITS to be set up during 11th Plan to overcome manpower shortage Posted: 10 Mar 2010 06:08 PM PST Although, the proposal is for setting up all twenty IIITs in Public Private Partnership (PPP) mode, since industry participation may not be forthcoming in some States like in the North East, it is proposed that IIITs in the North East may be set up... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]
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Vigilance cases against 54 all India Service Officers in 2009 Posted: 10 Mar 2010 06:05 PM PST The CVC does not issue sanction for prosecution. However, the Commission advised sanction for prosecution in the year 2008 and 2009 in 107 and 131 cases respectively. In pursuance of the Commission's advice, the Competent Authorities have imposed... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]
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Verification Status of PEII, IPCE/ATE, PCE, Final & Final (New Course) for November Examinations Posted: 10 Mar 2010 06:00 PM PST # Roll Numbers of candidates where no change in marks found click here All these candidates has been intimated by post. Roll Numbers of candidates where change in marks found but there is no change in result or exemption in applied papers found... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]
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Leviability of cess on tractors under Tractor Cess Rules, 1992 Posted: 10 Mar 2010 05:44 PM PST It has been brought to the notice of the Board that Hon'ble High Court of Himachal Pradesh in the case of Indo Farm Tractors & Motors Ltd. V/s UOI [2008(222) ELT184 (HP)], has held that Automobile Cess Rules are not applicable for imposition of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]
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Export warehousing –Extension of facility at Gautam Budh Nagar in the state of Utter Pradesh and Nagpur in the state of Maharashtra Posted: 10 Mar 2010 05:41 PM PST The matter has been examined. Board is of the view that extension of the facility of export warehousing to Gautam Budh Nagar district in the state of Uttar Pradesh and Nagpur district in the state of Maharashtra would facilitate the trade and... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]
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CBEC instruction on Powers of Commissioner (Appeals) to remand cases Posted: 10 Mar 2010 05:19 PM PST Section 35A(3) of the Central Excise Act, 1944 / Section 128A(3) of the Customs Act, 1962 as it existed before 11.5.2001 provided that Commissioner (Appeals) shall, after making such further enquiry as may be necessary, pass such order, as he thinks... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]
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Rajasthan State Budget for the Year 2010-11: An Overview Posted: 10 Mar 2010 05:13 PM PST The Chief Minister (Finance Minister) presented the State Budget for the Year 2010-11 on Tuesday 09th March 2010 in the State assembly for the second time in his second tenure. There was not much for the trade and industry in the budget except some... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]
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ICAI advocates flexibility in depreciation rates for companies Posted: 10 Mar 2010 05:04 PM PST The CA institute favours a regime where depreciation rates for company law purposes are based on the useful life of an asset. The depreciation rates should also be indicative and not prescriptive as is the case now, Mr Amarjit Chopra, President of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]
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Get Income Tax Refund for A.Y. 2008-09, even if TDS not matching Posted: 10 Mar 2010 04:46 PM PST In all the returns filed in ITR-1 and ITR-2 for the A. Y. 2008-09, where the aggregate TDS claim does not exceed Rs four lakh and where the refund computed does not exceed Rs.25,000; the TDS claim of the tax payer concerned should be accepted at the... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]
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Corrigendum to Notification No 17-2010 Service Tax Posted: 10 Mar 2010 04:43 PM PST In the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 17/2010-Service Tax, dated the 27th February, 2010 published in the Gazette of India, Extraordinary, Part II, Section [More...] 3, Sub-section... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]
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For ICWAI students June 2010 will be Last attempt under old Syllabus Posted: 10 Mar 2010 04:36 PM PST The last examinations under SYLLABUS 2002 would be held in June 2010. From December 2010 term onwards, examinations shall be held only under the REVISED SYLLABUS, 2008 [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]
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ICAI planning to open coaching classes for CA students Posted: 10 Mar 2010 04:34 PM PST The Institute of Chartered Accountants of India (ICAI), in a bid to save time and money of students pursuing the Chartered Accountancy programme as they complete their course is planning to provide them with coaching classes taught by the faculty... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]
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Budget 2010-11- Levying tax on Medical Services – The Case of Delivering a Deformed Baby Posted: 10 Mar 2010 08:21 AM PST Health services undertaken by hospitals or medical establishments for the employees of business organizations and health services provided under health insurance schemes offered by insurance companies. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]
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