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Jun 7, 2010

TaxGuru.in : Legal & Tax Updates 08.06.2010

TaxGuru.in : Legal & Tax Updates (in this message: 12 new items)

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Download Latest Form 16, 16A, 27D, 24G and other forms related to TDS in Excel Format along with related notification and Circular

Posted: 07 Jun 2010 08:35 PM PDT


Recently Income Tax department issued one after one circular making amendment in provisions related to TDS. Department has made so many amendments that we even lost the counts of amendments made in TDS laws during the last few months, Department has...

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Summary/Analysis of recent CBDT amendment of rules relating to TDS/TCS

Posted: 07 Jun 2010 08:30 PM PDT


The Central Board of Direct Taxes (CBDT) had recently notified Rules 30, 31, 31A, 31AA, 37A, 37CA and 37D (Rules) pertaining to tax deducted/collected at source (TDS/TCS) in February 2010. The above notification validated the procedural compliances...

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Amendments to the Payment of Gratuity Act- An overview of accounting implications

Posted: 07 Jun 2010 08:20 PM PDT


In India, the Payment of Gratuity Act, 1972 (Act) requires entities with ten or more employees to pay gratuity benefit to their employees at the time of termination of employment. The act also provides that if an entity is covered under the act...

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Despite TDS u/s 195, payer is liable as "agent" u/s 163: ITAT Mumbai

Posted: 07 Jun 2010 08:15 PM PDT


The assessee purchased shares of an Indian company from Alcan Inc, Canada. Alcan filed an application u/s 197(1) for issue of a TDS certificate on the basis that the capital gains was Rs. 317.71 crores and tax at 10% was chargeable. The AO issued a...

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To constitute fixed place permanent establishment three criterias needs to be satisfied

Posted: 07 Jun 2010 08:10 PM PDT


Mumbai Ruling: In order to constitute a fixed place permanent establishment (PE), three criteria have to be satisfied viz. (a) the physical criterion (existence of physical location) (b) subjective criterion (right to use that place) and (c)...

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Rule 6(2) and Rule 6(3) of the CENVAT Credit Rules, 2004 are not attracted when an assessee is engaged in providing 'taxable output services' and 'trading activity'

Posted: 07 Jun 2010 08:05 PM PDT


The CESTAT (Ahmedabad Bench) in case of Orion Appliances Ltd. v. CST, Ahmedabad. [Arising out of Appeal No. ST/120/09 and order dated 07-05-2010J has observed that Rule 6(2) and Rule 6(3) of the CENVAT Credit Rules, 2004 are not attracted in case...

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Vodafone moved Bombay High Court challenging 12,000 crore tax liability imposed by Income Tax department

Posted: 07 Jun 2010 05:39 PM PDT


Vodafone moved Bombay High Court on 07th June 2010, challenging the income tax (I-T) department's right to levy a tax on its $11.1-billion deal in 2007 to acquire Cayman Island-based Hutchison International's stake in Hutchison Essar.

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Inquiries mount after PwC 'failed to notice' mistakes

Posted: 07 Jun 2010 05:33 PM PDT


PricewaterhouseCoopers is facing an inquiry by accounting regulators into its failure to notice that JP Morgan was paying up to £16 billion of clients' money into the wrong bank accounts. Last week the Financial Services Authority fined the...

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Finance Ministry Constitutes Technical Advisory Group for Unique Projects

Posted: 07 Jun 2010 05:27 PM PDT


Ministry of Finance has constituted the Technical Advisory Group for Unique Projects (TAGUP). This Committee has been constituted in pursuance of the Finance Minister's Budget Speech 2010-11 wherein he proposed to set up a Technology Advisory Group...

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Tata Teleservices claimed special auditor found nothing wrong in its books of account

Posted: 07 Jun 2010 05:24 PM PDT


"We are delighted with the special auditors' validation that all payments and dues, including license fees and spectrum charges have been paid by TTSL, as per the license conditions and the applicable ruling of the telecom tribunal TDSAT," the...

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ICAI Building Committees of Regional Councils and Branches

Posted: 07 Jun 2010 05:21 PM PDT


This has reference to Circular no. No. Council Affairs/M-626/2010 dated 29th March, 2010 communicating that the Building Committees constituted in the past in Branch, Regional & central levels be dissolved and accordingly all such Committees...

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Important Issues Pertaining To NCLT after The Judgment Of Supreme Court?

Posted: 07 Jun 2010 09:32 AM PDT


I am very happy to see the judgment of the Supreme Court on National Company Law Tribunal. I have read the judgment of Justice Jayasimha Babu of Madras High Court regarding the constitution of National Company Law Tribunal and Appellate Tribunal in...

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With Regards, 
CA Sandeep Kanoi 
Website: http://www.taxguru.in/ 
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1 comment:

  1. SIR,

    I AM APPEARING IN THE FINAL YEAR EXAM OF LLM THROUGH DISTANCE EDUCATION FROM THE GLOBAL OPEN UNIVERSITY, NAGALAND, IN JUNE 2010, AND GET MY RESULT IN THE MONTH OF OCT.2010.

    I want to enrolled for PHD in LAW, from any Indian university,

    I AM ELIGIBLE FOR TAKING ADMISSION IN PHD IN LAW OR NOT ?

    please guide me ..

    Regards..



    --
    Thanks & Regards,

    Ashish Kamthania,
    (Tax Consultant & Advocate)
    Income Tax, Commercial Tax & VAT,
    23, Tilak Colony,
    Rampur - U.P.
    244901 INDIA
    Mobile :
    09258010105.

    ReplyDelete

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