Employee’s Provident Fund Act, 1952 vis-á-vis Income Tax Act 1961- Tax Treatment of PF Dues

CA Final November 2011, CPT December 2011 Examination- List of Toppers, Pass percentage, Analysis year-wise / gender-wise / Region-wise Posted: 18 Jan 2012 07:59 PM PST The toppers of Chartered Accountants Final Examinations held in November, 2011 are from Hyderabad, Nagpur, Bangalore, Kolkata and Jaipur. The details of the top three rank holders on all India basis for Chartered Accountants Final along with the... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Employee's Provident Fund Act, 1952 vis-á-vis Income Tax Act 1961- Tax Treatment of PF Dues Posted: 18 Jan 2012 05:48 PM PST The Indian Income tax Act, 1961, has created a fiction by adding section 43B and sections 36 (1) (va), whereby it has intended to disallow employer's contribution as expenditure or add to income employees' contribution u/s 2(24)(x) in the hands of... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Housing and Urban Development Corporation Limited (Hudco) -Tax benefits and silent Features of proposed tax Free Bond issue Posted: 18 Jan 2012 05:18 PM PST Salient features of the proposed bond issue- 1. The Bonds are issued in the form of tax-free, secured, redeemable, non-convertible Debentures and the interest on the Bonds will not form part of the total income. 2. In case of over-subscription;... [[ This is a content summary only. Visit www.taxguru.in for full article.]] CIT (Appeal) to follow the decision of Tribunal even if the Appeal is pending in high Court against the decision of Tribunal Posted: 18 Jan 2012 05:01 PM PST DCIT Vs. Kesoram Industries Ltd. (ITAT Kolkata) - In the assessment order the A.O. did not accept this claim of the assessee on the ground that for the assessment years 2001-02 to 2005-06 the department had gone in appeal before the Hon'ble High... [[ This is a content summary only. Visit www.taxguru.in for full article.]] In case of inheritance, if assets were acquired by the previous owner before 1st April, 1981, then, cost index should be based on the index of financial year 1981-82 Posted: 18 Jan 2012 04:48 PM PST Base year for calculation of index cost of acquisition of the shares in terms of Explanation (iii) to Section 48 of the Act, acquired by the assessee by way of inheritance (one of the modes specified in Section 49(1) of the Act) should be taken as... [[ This is a content summary only. Visit www.taxguru.in for full article.]] CBDt directs Income Tax Department to Launch Special Drive for Verifying High Value Transactions Posted: 18 Jan 2012 04:26 PM PST The Central Board of Direct Taxes has directed the Income Tax department to launch a special drive, from 20th January to 20th March 2012, for verifying high value transactions (investments / deposits / expenditure) from persons who are not assessed... [[ This is a content summary only. Visit www.taxguru.in for full article.]] All about Rise and 'fall' of Yahoo! co-founder Jerry Yang Posted: 18 Jan 2012 04:20 PM PST Internet company Yahoo!'s co-founder Jerry Yang has quit the company he founded 17 years ago. Yahoo! said besides quitting the board of its directors, Yang has resigned from all other positions in the company, effective from January 18, as well as... [[ This is a content summary only. Visit www.taxguru.in for full article.]] New Guidelines for preferential allotment by unlisted public companies Posted: 17 Jan 2012 11:22 PM PST On 14 December 2011 the Ministry of Corporate Affairs (MCA) has issued Unlisted Public Companies (Preferential Allotment) Amendment Rules, 2011 (Amendment Rules) which is effective from the date of publication in Official Gazette. The Amendment... [[ This is a content summary only. Visit www.taxguru.in for full article.]] CA Final November, 2011, CPT December, 2011 result expected to be declared today at 2.00 P.M Posted: 17 Jan 2012 09:50 PM PST The results of the Chartered Accountants Final Examination held in November, 2011 and Common Proficiency Test (CPT) held in December, 2011 are likely to be declared on Wednesday, the 18th January, 2012 around 2:00 PM [[ This is a content summary only. Visit www.taxguru.in for full article.]] Amends Notification No. 36/2001-Customs(N.T) dated the 3rd August 2001 Posted: 16 Jan 2012 07:39 PM PST Notification No. 4/2012-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 Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Customs – Seeks to impose safeguard duty at the rate of 10% ad valorem, on Phthalic anhydride Posted: 16 Jan 2012 07:36 PM PST Notification No.1/ 2012-Customs (SG) Whereas, in the matter of import of Phthalic anhydride, falling under tariff item 29173500 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the said Act), the... [[ This is a content summary only. Visit www.taxguru.in for full article.]]