Deduction under section 80E for Interest on education Loan taken for self and relatives

Deduction under section 80E for Interest on education Loan taken for self and relatives Posted: 09 Jan 2012 07:52 PM PST Have you taken an education loan to support higher studies of yourself or of your spouse, Children or for the student of whom you are legal guardian and you are not aware of the tax benefits that you are entitled to. Then here is a guide that will... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Deduction u/s. 80C for tuition/school fees paid for education of children Posted: 09 Jan 2012 07:51 PM PST Who is Eligible: Deduction for tuition fees u/s. 80c of the Income Tax Act 1961 is available to Individual Assessee and is not available to HUF. Maximum Child: Deduction under this section is available for tuition fees paid on two children's... [[ This is a content summary only. Visit www.taxguru.in for full article.]] May 2012 Examination – ICAI announces dates for PCE , IPCE, CA Final Exams Posted: 09 Jan 2012 07:50 PM PST In pursuance of Regulation 22 of the Chartered Accountants Regulations, 1988, the Council of the ICAI is pleased to notify that the Professional Competence Examination (PCE), Integrated Professional Competence Examination (IPCE) and... [[ This is a content summary only. Visit www.taxguru.in for full article.]] New virus raids your bank account Posted: 09 Jan 2012 07:50 PM PST The Trojan horse employs a powerful two-step process to commit the electronic crime. First, the virus lies in wait until a customer with an infected computer visits an online banking site, steals their login credentials and tricks the victim into... [[ This is a content summary only. Visit www.taxguru.in for full article.]] E-filing of tax returns – Court cannot order that rule should be applied retrospectively, though E-filing should be encouraged Posted: 09 Jan 2012 05:07 PM PST Hindustan Zinc Ltd. Vs. State of Rajasthan and anr. (Jodhpur High Court) - Court is of the opinion that even though in the era of E-filing of the returns under the various laws, such a practice deserves to be encouraged and is acceptable form of... [[ This is a content summary only. Visit www.taxguru.in for full article.]] 'Red Label' cannot be trade mark as words are common to the trade and not distinctive Posted: 09 Jan 2012 04:32 PM PST Hindustan Unilever Limited Vs Girnar Exports (IPAB)- The four appeals are against the orders passed by the Deputy Registrar, Trade Marks at Chennai in three proceedings and the Deputy Registrar at Kolkata in one. The mark is 'Red Label'.... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Section 80C – IOB Tax Saver Scheme Posted: 09 Jan 2012 04:09 PM PST In the Finance Act 2006, Section 80C of Income Tax Act 1961 was amended to include deposits placed with a scheduled bank to qualify for deduction under 80C. The amount of investment up to Rs.1,00,000 under the notified deposit scheme will be... [[ This is a content summary only. Visit www.taxguru.in for full article.]] All about F forms under CST Act, 1956 Posted: 09 Jan 2012 03:41 PM PST To constitute interstate sales, one of the basic requirement is that there should be sale. If a person sends goods outside from its state to its branch office in another state then it is not sale because you cannot sell goods to yourself. Similarly... [[ This is a content summary only. Visit www.taxguru.in for full article.]] RBI wants CAs to ensure solvency of banks Posted: 09 Jan 2012 03:13 PM PST Seeking to enhance role of auditors in ensuring solvency of banks, the Reserve Bank of India wants chartered accountants to ask pointed questions concerning risk assessment and capital adequacy of lenders. [[ This is a content summary only. Visit www.taxguru.in for full article.]] Share application money and repayment thereof do not violate Sections 269SS & 269T Posted: 08 Jan 2012 11:27 PM PST Addl. CIT Vs. J.A. Land & Housing Development India Limited (ITAT Kolkata) - Assessing Officer levied penalty under section 271D for the assessment year 2004-05 in respect of M/s. J.A. Land & Housing Dev. India Limited and also in... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Black money Abroad-I-T department to obtain signed undertaking for sharing info with any government entity or department Posted: 08 Jan 2012 10:36 PM PST In order to guard against possible leakage of names figuring in the secret bank accounts lists it has received from foreign shores, the CBDT has ordered the I-T department to obtain a signed undertaking from any government entity or department who... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Effect of making registration certificate applicable from retrospective date is based on the principle of deemed equivalence to public user of such mark which cannot be extended to the Excise Law Posted: 08 Jan 2012 10:35 PM PST CCE Vs. Meyer Health Care Pvt. Ltd. & Ors. (Supreme Court) - This Court has already held in the aforementioned decision that effect of making the registration certificate applicable from retrospective date under the trade mark law is based on... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Exchange loss on refund of advances from customer allowable irrespective of use of funds Posted: 08 Jan 2012 10:30 PM PST DCIT Vs. Diamond 'R' US (ITAT Mumbai) - Exchange loss on refund of advances received from the customers is concerned, the same indeed constitutes admissible deduction irrespective of whether or not the amount so received were diverted to use by... [[ This is a content summary only. Visit www.taxguru.in for full article.]] ICAI Convocation (II) – 2011 for the newly enrolled Members admitted during the period April, 2011 to August, 2011 Posted: 08 Jan 2012 08:56 PM PST The Convocation for the newly enrolled Members admitted during the period April, 2011 to August, 2011 will be held as per schedule given below with a view to inculcate a sense of belongingness and attachment with the Institute. [[ This is a content summary only. Visit www.taxguru.in for full article.]] Guidelines on Handling of Court Cases and Other Litigation Matters Relating to Sezs Posted: 08 Jan 2012 08:25 PM PST INSTRUCTION [NO. D12/10/2011-SEZ ], DATED 12-12-2011 I am directed to say that the DCs of SEZs are expected to represent the cases pertaining to their jurisdiction before the High Courts/Supreme Court etc., after consultation with Government... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Interest Subvention Scheme claims to be certified by statutory auditor of bank Posted: 08 Jan 2012 08:20 PM PST In respect of 2 % interest subvention, banks are required to submit their claims on a half-yearly basis as at September 30, 2011 and March 31, 2012, of which, the latter needs to be accompanied by a Statutory Auditor's certificate certifying the... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Updation of Import Export Code (IEC) as per Public Notice No. 84/2009-2014 (RE-2010) dated 11th November 2011 Posted: 08 Jan 2012 08:20 PM PST Please note that as per above Public notice it is mandatory to update your existing IEC as stated in the notification:- 1. Complete PAN details, Telephone Numbers, Email IDs, and Mobile Number (of the Signatory of the ANF2A) have been made... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Seeks to extend levy of anti-dumping duty imposed vide Notification No. 98/2006-Customs, dated the 13th September, 2006, upto and inclusive of 1st September, 2012 Posted: 08 Jan 2012 08:16 PM PST Notification No. 1/2012-Customs (ADD), Whereas, the designated authority vide notification No. 15/28/2010-DGAD, dated the 2nd September, 2011, published in Part I, Section 1 of the Gazette of India, Extraordinary, dated the 2nd September, 2011,... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Appointment of Common Adjudicating Authority – Posted: 08 Jan 2012 08:15 PM PST Notification No.01/2012-Customs (N.T.) In exercise of the powers conferred by sub-section (1) of section 4 and sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby appoints the Joint... [[ This is a content summary only. Visit www.taxguru.in for full article.]] PHDCCI invites comments on OECD Guidelines for Multinational Enterprises Posted: 08 Jan 2012 08:10 PM PST This is to inform you that the OECD Guidelines for Multinational Enterprises was introduced during the G-20 Labour Ministerial Declaration 2011 held very recently. A number of nations proposed to implement it; however, due to stiff opposition from... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Insurance – Clarification on the Guidelines for Pension Products Posted: 08 Jan 2012 08:09 PM PST The IRDA had issued guidelines for pension products vide its circular dated November 8, 2011 and insurance companies were required to withdraw all insurance products which do not conform to the guidelines with effect from January 1, 2012. In... [[ This is a content summary only. Visit www.taxguru.in for full article.]]