Fw: TaxGuru : “Certificate issued by a CA has no decisive impact on taxability of income in the hands of a non-resident” plus 29 more

Certificate issued by a CA has no decisive impact on taxability of income in the hands of a non-resident Posted: 16 Sep 2011 06:17 PM PDT DCIT v. Rediff.com India Limited (ITAT Mumbai) - Certificate issued by a Chartered Accountant has no decisive impact on taxability of income in the hands of a non-resident but it is only prima-facie evidence about the taxability . In order to... Claim of bad debts allowable even if debts are of the same year – ITAT Mumbai Posted: 16 Sep 2011 06:07 PM PDT DCIT v. Rediff.com India Limited (ITAT Mumbai) - A.O. disallowed the claim of bad debts on the ground that the transactions pertain to the current year and the same was written off by the assessee in the same year itself. According to the A.O. the... E-filing of Service Tax Return and E-payment of Service Tax – Latest Provisions Posted: 16 Sep 2011 05:20 PM PDT In this Article Author has discussed latest Provisions related to Compulsory E-Filing of service tax Return , Pr-requisite for e-filing, How to file Return electronically, Methods of filling the return electronically, Penalty for Late Filing of ST... TDS / TCS Default Us. 201(1) – Mismatch U/s. 200A – Nature & Remedies Posted: 16 Sep 2011 04:57 PM PDT TDS IS NOT TEDIOUS - In this Article we will discuss the Reason , Types of Default, How to Correct and Advantage of Correction in Respect of TDS / TCS Default Us. 201(1) and Mismatch U/s. 200A of the Income Tax Act, 1961. Download Automated Form-16 for Financial Year 2011-2012 and Assessment Year 2012-2013 Posted: 16 Sep 2011 04:40 PM PDT This Excel utility is fully automated. Just put the data in Data input sheet and it will prepare the Form-16 automatically. User can also take printout of Form 16 prepared through this utility. Format if form 16 is latest and applicable from A.Y.... Now pay advance tax of VAT in Punjab ; Is it justified? Posted: 16 Sep 2011 03:25 PM PDT Recently entry tax in Punjab was stayed by P&H High Court in Bhushan Steel case. In that case the State Govt contested the writ petition challenging constitutionality of Punjab Tax on Entry of Goods into Local Areas Act, 2000 by stating that... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Transfer pricing provisions would be applicable to a transaction entered with an unrelated entity which is deemed associated enterprise Posted: 16 Sep 2011 03:18 PM PDT Diageo India Private Limited Vs. DCIT (ITAT Mumbai)- ITAT held that the contractor of bottling unit of the taxpayer and the overseas Diageo group entities are Associated Enterprises (AEs) and transaction entered between them are covered by the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Schedule of all Industry Rates of Duty Drawback (2011-12) to be Notified Soon Posted: 16 Sep 2011 04:25 AM PDT The Government of India will shortly be notifying the schedule of AIR (All Industry Rates) of duty drawback for the year 2011-12. In this regard, the Government had constituted a Committee in January 2011 under the chairmanship of Shri Saumitra... [[ This is a content summary only. Visit www.taxguru.in for full article ]] View Tax Credit (Form 26AS) from bank site through net banking facility Posted: 16 Sep 2011 03:54 AM PDT One of the modes through which tax payer can avail view of Tax Credit Statement (Form 26AS) is through net banking facility provided by banks. To avail this facility, the PAN holder is required to have net banking account with any of authorized... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Payment of statutory dues, salary and wages in 10 sick / loss making CPSEs under the Department of Heavy Industry Posted: 16 Sep 2011 01:23 AM PDT The Cabinet Committee on Economic Affairs today approved the proposal for providing non-plan budgetary support of Rs. 59.72 crore for liquidation of statutory dues and salary and wages from 1.1.2011 to 31.3.2011 in respect of 10 sick / loss making... [[ This is a content summary only. Visit www.taxguru.in for full article ]] RBI Mid-Quarter Monetary Policy Review – September 2011 Posted: 15 Sep 2011 10:08 PM PDT On the basis of the current macroeconomic assessment, it has been decided to: increase the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 8.0 per cent to 8.25 per cent with immediate effect. Consequent to the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Fema – Meeting of Medical expenses of NRIs close relatives by Resident Individuals Posted: 15 Sep 2011 09:55 PM PDT A.P. (DIR Series) Circular No. 20, It has been decided that where the medical expenses in respect of NRI close relative (relative as defined in Section 6 of the Companies Act, 1956) are paid by a resident individual, such a payment being in the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Customs Duty Exemption extended to goods imported for internal security operations and coastal security operations Posted: 15 Sep 2011 09:53 PM PDT Notification No.89/ 2011-Customs - Government has amended Notification No. 39/96-Cus dated July 23, 1996 to allow import of certain important goods and equipment (in addition to personal effects of persons on duty in Central Para Military Forces),... [[ This is a content summary only. Visit www.taxguru.in for full article ]] FEMA – Repayment of loans of Non-resident close relatives by residents Posted: 15 Sep 2011 09:53 PM PDT A.P. (DIR Series) Circular No. 19, -- It has been decided that where an authorised dealer in India has granted loan to a non-resident Indian in accordance with Regulation 7 of the Notification No. FEMA 4/2000-RB, ibid, such loans may also be repaid... [[ This is a content summary only. Visit www.taxguru.in for full article ]] FEMA – Loans in Rupees by resident individuals to NRI close relatives Posted: 15 Sep 2011 09:52 PM PDT A.P. (DIR Series) Circular No. 18 Non resident Indian (NRI)/ Person of Indian Origin (PIO) close relative [means relative as defined in Section 6 of the Companies Act, 1956] by way of crossed cheque /electronic transfer, subject to the following... [[ This is a content summary only. Visit www.taxguru.in for full article ]] FEMA – Gift in Rupees by Resident Individuals to NRI close relatives Posted: 15 Sep 2011 09:50 PM PDT RBI has decided vide A.P. (DIR Series) Circular No. 17, Dated- September 16, 2011 to permit a resident individual to make a rupee gift to a NRI/PIO who is a close relative of the resident individual [close relative as defined in Section 6 of the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Enhancements introduced in LLP system, with effect from 15- September-2011 Posted: 15 Sep 2011 09:48 PM PDT 1) Annual filing of Form 8 is now taken in straight through process. Users are requested to download the new eForm for their filing. 2) Forms 17 & 2 and Forms 18 & 2 will be linked and processed together in the back-office to speed up the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Regarding Mandatory e-filing of Central Excise Returns in ACES Posted: 15 Sep 2011 09:33 PM PDT Circular No.955/16/2011-CX, The following amendments have been made in Central Excise Rules, 2002 and CENVAT Credit Rules, 2004: (i) ER-1 Return, filed under Rule 12(1) of the Central Excise Rules, 2002, will have to be electronically filed... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Exposure Draft of Indian Accounting Standard (Ind AS) 28 (as amended) (Corresponding to IAS 28 (As amended in 2011) Investments in Associates and Joint Ventures Posted: 15 Sep 2011 09:27 PM PDT Exposure Draft of Indian Accounting Standard (Ind AS) 28 (as amended) (Corresponding to IAS 28 (As amended in 2011) Investments in Associates and Joint Ventures (Comments to be received by 15 October 2011)-(16-09-2011) Download Exposure Draft of... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Exposure Draft of Indian Accounting Standard (Ind AS) 112 (Corresponding to IFRS 12 Disclosure of Interests in Other Entities Posted: 15 Sep 2011 09:27 PM PDT Exposure Draft of Indian Accounting Standard (Ind AS) 112 (Corresponding to IFRS 12 Disclosure of Interests in Other Entities (Comments to be received by 15 October 2011) [[ This is a content summary only. Visit www.taxguru.in for full article ]] Exposure Draft of Indian Accounting Standard (Ind AS) 111 (Corresponding to IFRS 11 Joint Arrangements) Posted: 15 Sep 2011 09:26 PM PDT Exposure Draft of Indian Accounting Standard (Ind AS) 111 (Corresponding to IFRS 11 Joint Arrangements (Comments to be received by 15 October 2011)-(16-09-2011) Download Exposure Draft of Indian Accounting Standard (Ind AS) 111  [[ This is a content summary only. Visit www.taxguru.in for full article ]] Exposure Draft of Indian Accounting Standard (Ind AS) 27 (as amended) (Corresponding to IAS 27 (As amended in 2011) Separate Financial Statements Posted: 15 Sep 2011 09:26 PM PDT Exposure Draft of Indian Accounting Standard (Ind AS) 27 (as amended) (Corresponding to IAS 27 (As amended in 2011) Separate Financial Statements (Comments to be received by 15 October 2011) – (16-09-2011) Download Exposure Draft of Indian... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Exposure Draft of Indian Accounting Standard (Ind AS) 110 (Corresponding to IFRS 10 Consolidated Financial Statements Posted: 15 Sep 2011 09:25 PM PDT Exposure Draft of Indian Accounting Standard (Ind AS) 110 (Corresponding to IFRS 10 Consolidated Financial Statements (Comments to be received by 15 October 2011)-(16-09-2011) Download Indian Accounting Standard (Ind AS) 110 [[ This is a content summary only. Visit www.taxguru.in for full article ]] Amends Notification No. 62/2011 – customs (NT) dated 26-08-2011 Posted: 15 Sep 2011 09:22 PM PDT NOTIFICATION NO.66/2011-CUSTOMS (N.T.) In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following amendments in the Notification of the Government of... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Tariff Values of Edible Oils, Brass Scrap (All grades) and Poppy Seeds Notified – Notification No. 65/2011 – Customs (N. T.) Posted: 15 Sep 2011 09:21 PM PDT Notification No. 65/2011 - Customs (N. T.) In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following... [[ This is a content summary only. Visit www.taxguru.in for full article ]] RBI increases Repo and Reverse Repo and Marginal Standing Facility Rates by 0.25 percent w.e.f. 16.09.2011 Posted: 15 Sep 2011 09:19 PM PDT FMD.MOAG. No.63/01.01.01/2011-12 - RBI increases Repo and Reverse Repo and Marginal Standing Facility Rates by 0.25 percent to 8.25, 7.25 and 9.25 per cent respectively. [[ This is a content summary only. Visit www.taxguru.in for full article ]] Summary dismissal of departmental appeal by Delhi HC by retrospective application of monetary limits of tax effect – suggestion to file recall petition instead of review in High Court ‑ filing of review / recall petition in cases where tax effect is below Rs 4 lacs Posted: 15 Sep 2011 09:18 PM PDT Some suggestions have been received that instead of filing review petition, a recall petition may be filed in High Court on the basis of Supreme Court order in Surya Herbal case. This is because for filing review petition there is a time limit of 30... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Standing Liquidity Facilities for Banks and Primary Dealers would be available at the revised repo rate, i.e., at 8.25 per cent with effect from September 16, 2011 Posted: 15 Sep 2011 09:18 PM PDT Please refer to the Mid-Quarter Monetary Policy Review of September 16, 2011, in terms of which the repo rate under the Liquidity Adjustment Facility (LAF) has been increased by 25 basis points from 8.00 per cent to 8.25 per cent with immediate... [[ This is a content summary only. Visit www.taxguru.in for full article ]] CS Exams December,2011-List of examination Centres Posted: 15 Sep 2011 09:10 PM PDT CS Exams December,2011-List of examination Centres Company Secretaries Examinations December, 2011 LIST OF EXAMINATION CENTRES Sl No. Centre Code Centre Name 1 201 AGRA 2 401 AHMEDABAD 3 228 AJMER 4 202 ALLAHABAD 5 203 AMBALA 6 204 AURANGABAD 7 301... [[ This is a content summary only. Visit www.taxguru.in for full article ]] FM Hopes Increase of 25 Basis Points in Policy REPO Rate would Help Us in Getting Back to a More Comfortable Inflation Situation Posted: 15 Sep 2011 09:08 PM PDT The Union Finance Minister Shri Pranab Mukherjee said that the Reserve Bank of India (RBI)'s today's step is consistent with its monetary stance for the first half of 2011-12 and the overall concerns on growth sustainability in the medium-term. He... [[ This is a content summary only. Visit www.taxguru.in for full article ]]