| Bofors Scam Quattrochi Case Can Not Be Reopened U S 148 And 149 Of IT Act Posted: 05 Jan 2011 11:28 PM PST 
The income-tax department s hands are tied by the law even if it wants to go after Ottavio Quattrocchi following the observations of the Income Tax Appellate Tribunal ITAT nbsp Sections 148 and 149 of the Income Tax Act prevent [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Transition To IFRS Accounting Norms From April - Khurshid Posted: 05 Jan 2011 11:16 PM PST 
Corporate Affairs Minister Salman Khurshid today said the April 2011 deadline for the transition of Indian accounting standards to international norm IFRS will be met and all issues especially those related to tax implications hav [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Citibank Fraud- Under RBI Scanner Too 2 More Employees Identified Montek Says No Regulatory Failure Posted: 05 Jan 2011 11:06 PM PST 
Citibank fraud under RBI scanner too nbsp Realising the magnitude of the Citibank fraud estimated at Rs 300 crore the Reserve Bank of India today said it will go into the entire gamut of the scam even as it is being looked int [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| No Tax Worse Than Inflation- Chidambaram Posted: 05 Jan 2011 11:00 PM PST 
Concerned over high inflation Union Home Minister P Chidamabaram today expressed doubt on whether the government had all instruments to check price rise Inflation is high food inflation is very high we are not sure whether we hav [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Coke Ropes In Tendulkar For 20 Crore Strikes 3 Year Deal Posted: 05 Jan 2011 10:58 PM PST 
Master blaster Sachin Tendulkar is understood to have finalised a three year endorsement deal estimated around Rs 20 crore with beverage major Coca Cola after rival PepsiCo dropped him about two-and-half years back nbsp According to [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Government Working On Procedures For NRI S To Vote Soon Posted: 05 Jan 2011 10:53 PM PST 
The government is working on procedures to enable NRI s to vote soon Addressing the curtain raiser press conference of PBD-2011 here today the Minister of Overseas Indian Affairs Shri Vayalar said that the Parliament has passed [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Election Commission Approaches ICAI To Frame Accounting Formats Exclusively Meant For Political Parties Posted: 05 Jan 2011 10:43 PM PST 
The Election Commission of India has approached the Institute of Chartered Accountants of India ICAI to frame accounting formats exclusively meant for political parties nbsp These once made mandatory are expected to bring in more [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| ICAI Awards For Excellence In Financial Reporting Posted: 05 Jan 2011 10:40 PM PST 
Seventeen companies entities have been awarded the ICAI Awards for Excellence in Financial Reporting for the year 2009-10 The Awards were presented here yesterday by Shri Salman Khurshid Minister of Corporate Affairs on the inaug [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Conference On XBRL On The 18th February 2011 At Mumbai Posted: 05 Jan 2011 10:35 PM PST 
Conference on XBRL on the 18th February 2011 at Mumbai XBRL CONFERENCE IN INDIA XBRL THE FUTURE OF FINANCIAL REPORTING MUMBAI ON FEBRUARY 18 2011 The quest for a solution in the area of Financial Reporting a [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| ICAI- IFRS Not Must For Agricultural Companies Posted: 05 Jan 2011 10:02 AM PST 
The Institute of Chartered Accountants of India ICAI has said that the agriculture companies might not have to converge fully with international financial reporting standards IFRS and a part of their convergence process would be [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| SC To Waive Rs 25 Crore Fee On Vodafone S Deposit Posted: 05 Jan 2011 10:00 AM PST 
The Supreme Court today said it would waive the 1 per cent court fee on the Income Tax Department on the Rs 2 500 crore deposited by the Vodafone International Holdings if the government gives an undertaking that it would not make [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Banks To Allow Single ATM Transaction For One PIN Entry Posted: 05 Jan 2011 07:30 AM PST 
Next time you go to a bank ATM be ready to re-enter your PIN afresh for every transaction you wish to conduct such as money withdrawal balance enquiry and checking account details In order to check misuse of ATM cards by unauthoris [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| IT Dept Seeks Rs 1 5 Crore In Tax From Suspended IAS Officer Posted: 05 Jan 2011 05:45 AM PST 
The Income Tax Department has assessed the total taxable income of suspended IAS officer Rajesh Rajora facing corruption charges at Rs 5 21 crore and fixed a tax liability of Rs 1 5 crore against him nbsp IT Department sources s [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Vodafone Tax Case- No Solution So Far In Rs 25 Crore Court Fees Issue Posted: 05 Jan 2011 05:05 AM PST 
Invoking a provision in the Supreme Court Rules that has been used rarely the Registry had asked for 1 of the Rs 2 500 crores deposited by Vodafone as fees when the government wanted to withdraw it under an interim order passed by [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Members Of The Preofessional Institutes Arrested By Law Enforcing Agencies For Criminal Offences- Directions Of Govt Posted: 05 Jan 2011 01:47 AM PST 
By Speed Post No 12 23 2010-PI GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS 5th Floor A Wing Shastri Bhavan New Delhi - 110001 Dated the 13th December 2010 To The Secretary ICAI New Delhi The Secretary ICSI New Delhi [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Latest Amendments To Employees Provident Fund And Pension Schemes More Hardship For International Workers Posted: 06 Jan 2011 12:47 AM PST 
In Brief - nbsp On October 1 2008 the Ministry of Labour and Employment Government of India MLE made it compulsory for International Workers to contribute to Indian social security by notifying the Employees Provident Funds [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Frequency Norms Of Audit For Service Tax Assessees Posted: 05 Jan 2011 04:56 AM PST 
Director General of Audit New Delhi has published Service Tax Audit Manual 2010 nbsp As per the guidelines tax payers whose annual service tax payment including cash and CENVAT was Rs 3 crore or more in the preceding financi [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| What To Do If The Employer Refuses To Issue TDS Certificate And Can I Claim The Credit For TDS Deducted From My Salary Posted: 05 Jan 2011 04:25 AM PST 
I worked in XYZ limited for the period from 01 4 09 to 31 03 2010 My Company deducted TDS of Rs 1 00 000 but not given TDS certificate till date What legal remedy I have to force my employer to issue me the TDS certificate i e F [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Applicability Of TDS Provisions On Payment Of Roaming Charges By A Telecom Company For The Use Of Telecom Equipments Posted: 06 Jan 2011 12:59 AM PST 
It was held that the payment of National roaming charges is not rent for the use of telecom equipments in accordance with Section 194-I of the Income-tax Act 1961 the Act and accordingly not liable for deduction of tax at source [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Constitutional Validity Of MAT Provisions Relating To Set-off Of Lower Of Unabsorbed Brought Forward Business Loss And Unabsorbed Depreciation Posted: 06 Jan 2011 12:36 AM PST 
It was held that clause iii of Explanation 1 to section 115JB of the Income-tax Act 1961 the Act cannot be said to be discriminatory and hence unconstitutional This clause relates to set-off of unabsorbed business loss or unabs [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| TPO Entitled To Substitute CUP For TNMM To Determine Arms Length Price For Generic Drugs CUP Is Appropriate Method Despite Quality Differences Posted: 05 Jan 2011 10:08 AM PST 
CUP method is the most appropriate method to determine the arm s length price in the cases of generic drug manufacturers so long as comparables are available and while innovators of drugs are allowed monopolistic pricing during [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Notional Interest On Deposit Not Includible In Annual Value U S 23 1 A 23 1 B Posted: 05 Jan 2011 05:40 AM PST 
In Circular 204 dated 24 7 1976 the CBDT has accepted that u s 23 1 a the sum for which the property might reasonably be expected to let from year to year is the municipal valuation of the property The same view that the Muni [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Amendment In Handbook Of Procedure Vol I Relating To ANF2D Application Form For Export Licence Of Restricted Items Dispensing With The Requirement Of Submission Of Export Order Performa Invoice Purchase Order Posted: 05 Jan 2011 11:53 PM PST 
Public nbsp Notice No 20 RE-2010 2009-14 nbsp nbsp 5th January 2011 In exercise of the powers conferred under Paragraph 2 4 of the Foreign Trade Policy 2009-14 the Director General of Foreign Trade hereby makes th [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Regulatory Framework For Core Investment Companies Posted: 05 Jan 2011 11:44 PM PST 
RBI 2010-11 354 DNBS PD CC No 206 03 10 001 2010-11 January 5 2011 All Core Investment Companies Dear Sir Regulatory Framework for Core Investment Companies CICs The Bank had issued the captioned guidelines DNBS [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| DIN Number Of Borrower Companies Directors To Be Mentioned By Banks While Submitting Info To Credit Information Companies Posted: 05 Jan 2011 11:37 PM PST 
StCBs DCCBs - Submission of Data to Credit Information Companies - Format of Data to be submitted by Credit Institutions nbsp RBI 2010-11 353 RPCD CO RCB BC No 45 07 40 06 2010-11 nbsp nbsp January 05 2011 nbsp All Stat [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Amendment To The Instruction No 69 Containing Guidelines To Regulate Functioning Of Plastics Used Clothing Units In SEZs Posted: 05 Jan 2011 11:12 PM PST 
SEZ Amendment to the Instruction No 69 containing guidelines to regulate functioning of plastics Used clothing units in SEZs INSTRUCTION NO 74 DATED 31-12-2010 I am directed to refer to Instruction No 69 dated 4th Novem [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
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