Download Online Free Income Tax Return Filing Software for ITR 5 and ITR 6 – A.Y. 2011-12

Download Online Free Income Tax Return Filing Software for ITR 5 and ITR 6 – A.Y. 2011-12 Posted: 22 May 2011 07:45 PM PDT Income Tax department on 22.05.2011 releases official Free Online Income Tax Return Preparation / Filing Software- ITR-5 (Applicable to partnership Firms and Limited Liability partnership) and ITR 6 (Applicable to Companies). These ITR are related... [[ This is a content summary only. Visit www.taxguru.in for full article ]] US market regulator SEC asks Wipro to prove its auditor KPMG India's independence Posted: 22 May 2011 06:41 PM PDT US market regulator SEC has asked IT major Wipro to prove independence of its auditor KPMG India, failing which the company may have to appoint new auditors or get its business books audited again. "We have received a voluntary document request from... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Mortgagor can file suits for redemption as long as the mortgage subsists, Says SC Posted: 22 May 2011 05:30 PM PDT The Supreme Court ruled last week that a mortgagor can file suits for redemption so long as the mortgage subsists. Dismissal of an earlier suit for redemption would not bar the mortgagor from filing a second such suit, the court held in the case, L... [[ This is a content summary only. Visit www.taxguru.in for full article ]] SC dismisses Larsen & Toubro appeal in its lost bid for fast patrol vessels for Indian Coast Guard Posted: 22 May 2011 05:16 PM PDT The Supreme Court has upheld the Delhi high court ruling and dismissed the appeal of Larsen & Toubro in its lost bid for fast patrol vessels for the Indian Coast Guard. The government sent request for proposal to several parties, and L & T... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Unless the correctness of facts, is put in issue, a question of law does not arise Posted: 22 May 2011 06:09 AM PDT Commissioner of Customs (Import) vs Stoneman Marble Industries and others [SUPREME COURT OF INDIA) - Apex Court do find some substance in the submission of learned counsel for the Revenue that a standard formula cannot be laid down for imposition of... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Customs – Refund – Adjudicating Authority cannot permitted to circumvent the order passed by the High Court Posted: 22 May 2011 06:03 AM PDT RBF Rig Corporation, Mumbai Versus The Commissioner of Customs (Imports), - Supreme Court - Customs - Refund -Adjudicating Authority cannot permitted to circumvent the order passed by the High Court. High Court directs consideration of refund claim... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Time limit prescribed for one scheme could be completely unwarranted for another scheme and time limit prescribed under Section 11A of the Central Excise Act, 1944 is no exception Posted: 22 May 2011 05:33 AM PDT M/s Hans Steel Rolling Mill Versus Commnr. of Central Excise, Chandigarh - (SUPREME COURT OF INDIA ) - Recovery of amount due under compounded levy scheme - application of period of limitation - Section 11A of the Central Excise Act, 1944 - Held... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Supreme Court sets aside Allahabad Court judgement on tax exemption- U.P. Trade Tax Act, 1948 – Central Sales Tax Act, 1956 Posted: 22 May 2011 05:18 AM PDT Sales Tax - Indirect Tax - U.P. Trade Tax Act, 1948 - Central Sales Tax Act, 1956 - Exemption - Notification No. 1166 dt. 10.4.2000 - Assessee, engaged in the manufacture and sales of various 'scientific and biological equipments/instruments',... [[ This is a content summary only. Visit www.taxguru.in for full article ]] IMF – Selection of new chief due on June 30 Posted: 22 May 2011 04:33 AM PDT The International Monetary Fund's selection process for a new managing director will kick off with nominations on Monday,and the final decision expected by June 30, the institution has said. I am very pleased to announce that the Fund's Executive... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Income-Tax Department starts scrutiny of over 6.5 lakh demat accounts Posted: 22 May 2011 04:26 AM PDT The Income-Tax Department has started scrutinising over 6.5 lakh demat accounts, which were frozen following 2006 IPO scam, to see if blackmoney was used to purchase equities by persons through multiple accounts. Investigation and intelligence wings... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Ministry of Corporate Affairs asks SFIO to outsource job partly to private sleuths Posted: 22 May 2011 04:22 AM PDT Ministry of Corporate Affairs has asked corporate fraud investigating agency SFIO to outsource part of its work to private sleuths to overcome the problem of staff shortage that was causing delay in completing probes timely. The Ministry, in an... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Finance Ministry to set up Directorate of Criminal Investigation Posted: 22 May 2011 04:19 AM PDT The Finance Ministry is likely to set up Directorate of Criminal Investigation, a specialised wing to probe cases of black money, money laundering and terror funding, by the end of this month. A dedicated unit called Directorate of Criminal... [[ This is a content summary only. Visit www.taxguru.in for full article ]] To reduce accidents in night govt may make anti-glare tech in vehicles mandatory Posted: 22 May 2011 04:15 AM PDT The government may consider bringing in a legislation to make anti-glare technology in automobiles mandatory in an effort to reduce night accidents caused due to blinding by lights of oncoming vehicles. The government has been supporting the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] More foreigners than Indians receiving patents in India Posted: 22 May 2011 03:59 AM PDT There are more foreigners than Indians receiving patents in India, prompting the government to say much needs to be done to encourage more domestic innovations. The number of patents granted to Indian applicants has steadily decreased from a high... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Frauds cost Indian Banks over Rs. 2000 crore during 2009-2010 – CBI chief Posted: 22 May 2011 03:53 AM PDT Over Rs 2,000 crore was lost by the country''s banking sector in frauds during 2009-10 with more than 200 of these incidents involving deception of above one crore each, CBI Director A P Singh has said. The CBI chief has warned the banks of latest... [[ This is a content summary only. Visit www.taxguru.in for full article ]] EPFO not to look at past performance while appointing new Asset Management Companies (AMCs) Posted: 22 May 2011 03:50 AM PDT Retirement fund body EPFO will not take into account the past performance of previously engaged ICICI Pru, HSBC AMC, SBI and Reliance Capital while finalising the new asset management companies (AMCs) for managing its Rs 3 lakh crore corpus. Since... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Annual Confidential Reports of government officials not personal, says CIC Posted: 22 May 2011 03:46 AM PDT Annual Confidential Reports of government officials are not personal information and they should be provided to the public under the Right to Information Act, the Central Information Commission has held.The case relates to RTI applicant V R Sharma... [[ This is a content summary only. Visit www.taxguru.in for full article ]] XBRL reporting will possible better vigilance over activities of Companies Posted: 22 May 2011 03:28 AM PDT The Government today said financial reporting in the new technology format XBRL will enable regulators to keep a better vigilance over activities of companies. Speaking at an ICSI seminar on eXtensible Business Reporting Language (XBRL), the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Foreign exchange –Contravention of provisions of Act–Liable to prosecution as well as penalty by adjudicating officer Posted: 22 May 2011 02:22 AM PDT Foreign exchange --Contravention of provisions of Act--Liable to prosecution as well as penalty by adjudicating officer--Proceeding before adjudicating officer for acts considered offence--Exoneration in adjudication proceedings--No case for... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Bank cannot be compelled to give loan -consumer court Posted: 22 May 2011 02:17 AM PDT A bank cannot be compelled to provide loan under any law or procedure to a consumer and the latter cannot demand compensation for expenses incurred in applying for the process, the Delhi State Consumer Forum has ruled. Under no law and procedure, a... [[ This is a content summary only. Visit www.taxguru.in for full article ]] UP Trade Tax – Stainless steel wire not covered within entry (ix) of clause (iv) of S. 14 of CST Act Posted: 22 May 2011 02:00 AM PDT M/s. Bansal Wire Industries Ltd. & ANR Vs. State of U.P. & Ors (Supreme Court) - UP Trade Tax - stainless steel wire is not covered within entry (ix) of clause (iv) of Section 14 of Central Sales Tax Act: the language used in entry no.... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Retail investors may get unused staff quota in IPOs Posted: 22 May 2011 12:57 AM PDT Market regulator Securities and Exchange Board of India (SEBI) is considering allowing companies to allocate the unused quota in public offers exclusively to retail investors. The move is expected to further increase retail participation in... [[ This is a content summary only. Visit www.taxguru.in for full article ]] New Internet rules – Govt asks why critics were silent on draft Posted: 22 May 2011 12:01 AM PDT Under flak for the new Internet rules which are being interpreted as an attack on privacy of a user, the government while clarifying the rules questioned the why critics were silent when the draft rules were opened for public opinion. R... [[ This is a content summary only. Visit www.taxguru.in for full article ]] CBDT to continue to enjoy phone tapping power Posted: 21 May 2011 10:04 PM PDT The Central Board of Direct Taxes (CBDT) will continue to enjoy the power of telephone tapping despite a strong recommendation by a Committee of Secretaries against it following a controversy in the wake of the Niira Radia episode. "The CBDT will... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 2 Customs officials booked for demanding bribe in Andhra Posted: 21 May 2011 09:57 PM PDT The Shamshabad airport police here have registered a case of extortion against two inspectors of the Customs department after a woman passenger accused them of demanding bribe from her, police said today. The woman, who landed at Rajiv Gandhi... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Asset quality of banks is a matter of concern – Pranab Posted: 21 May 2011 09:35 PM PDT In the backdrop of banks', including State Bank of India's, rising non-performing assets, Finance Minister Pranab Mukherjee today said their asset quality is a matter of concern. The asset quality of the banks is a matter of concern. Banks have to... [[ This is a content summary only. Visit www.taxguru.in for full article ]] PM's address at release of Report to The People 2010-11 Posted: 21 May 2011 09:30 PM PDT Following is the address of the Prime Minister, Dr. Manmohan Singh at release of Report to the People 2010-11: We are meeting here again to present our Report to the People. I have viewed this initiative as a symbol of our commitment to transparency... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Its Appellant who have to show that despite the right to possess the demised premises exclusive, a right or interest in the property had not been created – SC Posted: 21 May 2011 09:30 PM PDT Pradeep Oil Corporation Vs. Municipal Corporation of Delhi and ANR (Supreme Court) Income Tax & Direct Taxes - Municipalities & Local Governments - Delhi Municipal Corporation Act, 1957, ss. 20(2) and 119 - Government Grant Act, 1895 -... [[ This is a content summary only. Visit www.taxguru.in for full article ]]