| Download ITR-4- Online Return Filing Excel Utility for A.Y. 2010-11 Posted: 08 Jun 2010 08:08 PM PDT ITR-4:This form is applicable, both, to Individuals and HUFs who carry out any business or professional activity in addition to having sources of income applicable to ITR-3.Income Tax department on Wednesday releases the online return filing... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Tax benefits from under construction flat Posted: 08 Jun 2010 08:07 PM PDT If you avail of a home loan for buying an under-construction apartment, the tax law provides for a deferred deduction on interest payable during the pre-construction period. The total amount can be availed of as deduction in equal installments over... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Post Amendment all you want to know about taxability of gratuity payment Posted: 08 Jun 2010 08:06 PM PDT Meaning of Gratuity :-Gratuity refers to the emoluments received by an employee from his employer in gratitude for the services rendered. Such sum can be paid on retirement, resignation, superannuation, death or disablement. Under the Gratuity Act,... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Mumbai ITAT rules offshore services taxable in India Posted: 08 Jun 2010 08:02 PM PDT In a recent ruling Mumbai Income Tax Appellate Tribunal in the case of Ashapura Minichem Ltd. (ITAT) [[2010] 5 taxmann 57 (Mum.-ITAT)] on the issue of taxability of payments made by the Taxpayer for services rendered outside India, under the... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Maintenance of stock by customer does not constitute a PE of the foreign enterprise in India Posted: 08 Jun 2010 08:01 PM PDT under the India UK Tax Treaty (UK Treaty) reaffirmed some general principles relating to PE, the Tribunal further ruled that the Taxpayer does not have a PE under the basic rule or the agency rule. The Tribunal remanded the matter to the first... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Govt proposes windfall tax on iron ore miners Posted: 08 Jun 2010 08:00 PM PDT On the heels of Australia announcing 40 per cent tax on bumper profits of miners, India said it proposes a similar windfall tax on iron ore. "We have already moved the Finance Ministry...we are for it (windfall tax). We have sent the letter," Mines... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Transfer Pricing: If foreign AE pays more tax, motive to shift profit unlikely: ITAT Mumbai Posted: 08 Jun 2010 07:59 PM PDT DCIT vs. Indo American Jewellery (ITAT Mumbai) :- Assessee's TP study cannot be rejected lightly, "comparables" have to be comparable on all parameters, no incentive to shift profits offshore if tax rates there are higher. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Nilkeni will head IT committee which will recommend measures for effective tax administration and financial governance system Posted: 08 Jun 2010 07:39 PM PDT Former Infosys co-chair Nandan Nilekani will head a committee that will recommend to the finance ministry on how best to tap information technology for an effective tax administration and financial governance system. Called the technical advisory... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Australia invited Indian companies to explain super profit tax to Indian firms Posted: 08 Jun 2010 07:31 PM PDT Australia has invited Indian companies that are scouting for mines here to join a consultation process to explain its proposed controversial "super profit'' tax on domestic mining companies. "Well, we currently are on a consultation process with the... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| IRDA not cleared any new ULIP plan in last two months due to war with SEBI Posted: 08 Jun 2010 07:22 PM PDT The Insurance Regulatory and Development Authority (Irda) has not cleared any unit-linked insurance plans (Ulips) for nearly two months, following the recent changes to the norms and the regulatory tussle over the investment-cum-insurance products. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Goods and Services Tax (GST) regime to be tabled in the coming monsoon session of Parliament Posted: 08 Jun 2010 07:15 PM PDT Empowered Committee of State Finance Ministers Chairman Asim Dasgupta today said the panel expected the constitutional amendment Bill to facilitate roll out of the Goods and Services Tax (GST) regime to be tabled in the coming monsoon session of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Companies want 25 percent public Shareholding Norms to be put on hold Posted: 08 Jun 2010 07:05 PM PDT The government's decision to enforce a minimum 25% public holding in all listed companies should be put on hold for another three months, said Hari S Bhartia, president of Confederation of Indian Industry (CII). He said there are a lot of grey areas... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Exposure Draft on Guidelines on Distance Marketing and Sale Process Verification of Insurance Products Posted: 08 Jun 2010 06:53 PM PDT The Authority proposes to come out with the Guidelines on Distance Marketing and Sale of Insurance Products to streamline the manner of sale of insurance products and to address some of the issues which are specific to protection of interests of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| HC adjourns hearing on Vodafone appeal till July 8 Posted: 08 Jun 2010 06:44 PM PDT The Bombay High Court today adjourned to July 8, the hearing on an appeal filed by Vodafone International in a dispute over tax liability. The court also stayed the ruling passed by the I-T department on May 31. The dispute is over the tax liability... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Central Excise Notification No. 27/2010, dated 04/06/2010- Amends Notification No.64/95-Central Excise, dated the 16th March, 1995 Posted: 08 Jun 2010 06:31 PM PDT the goods are used in the manufacture of Ballistic grade aramid fabric required for the manufacture of bullet proof jackets for supply to the armed forces of the Union under the Ministry of Defence or the Police Forces of the States or the Union-... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Custom Notification 66/2010 – Customs, dated 01-06-2010 – Amends Notification No.39/96-Customs, dated the 23rd July, 1996 Posted: 08 Jun 2010 06:17 PM PDT a) the goods are imported by a manufacturer for use in the manufacture of Ballistic grade aramid fabric; (b) the procedure laid down in the Customs (Import of Goods at concessional Rate of Duty for Manufacture of Excisable Goods) Rules, 1996 is... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Custom Notification 65/2010 – Customs, dated 01-06-2010 -Amends Notification No.153/2009-Customs, dated the 31st December, 2009 Posted: 08 Jun 2010 06:12 PM PDT Notification No. 65 /2010-Customs, New Delhi, dated the 1st June, 2010. G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Corporate affair ministry will initiate talks with commerce ministry and RBI to allow global audit firms Posted: 08 Jun 2010 09:58 AM PDT The corporate affairs ministry will initiate talks with the commerce ministry and RBI to allow global audit firms like KPMG, Deloitte, Ernst & Young and PriceWaterhouseCoopers to open shops in the country. "This matter is not for us alone (to... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Anil Ambani withdraws Rs. 10,000 crore defamation suit against Mukesh Ambani Posted: 08 Jun 2010 09:49 AM PDT In the spirit of truce arrived at with his elder brother, Anil Ambani on Tuesday dropped a Rs 10,000 crore (Rs 100-billion) defamation suit against Mukesh Ambani in the Bombay high court. "Yes, we have withdrawn the suit claiming Rs 10,000 crore as... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| New 25% public holding norms to hit pricing of large issues Posted: 08 Jun 2010 09:37 AM PDT The changes in the Securities Contracts (Regulation) Rules will not only create a huge supply of fresh papers in the current fiscal but will also impact the pricing of the large public issues such as Coal India and BSNL. The amendments will also... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| ICAI denied news report giving the impression that ICAI mooted proposal to open doors for MNC audit firms to operate in India Posted: 08 Jun 2010 08:01 AM PDT The Institute's attention was drawn to certain news reports giving the impression that the Institute has mooted a proposal to open doors for MNC audit firms to operate in India.Consequent upon the Satyam scandal coming to light, the Council of ICAI... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| FM to inaugurate CCITs' and DGITs annual meet tomorrow Posted: 07 Jun 2010 10:38 PM PDT THE FM is going to inaugurate the 26th Annual Conference of Chief Commissioners and Directors General of Income Tax, here tomorrow i.e, 9th June, 2010. The Minister of State for Finance (Revenue), Shri S. S. Palanimanickam, will deliver the... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
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