Budget 2012- Analysis of Income Tax Provisions

Budget 2012- Analysis of Income Tax Provisions Posted: 29 Mar 2012 07:49 PM PDT MEASURES TO PREVENT CIRCULATION OF UNACCOUNTED MONEY -1. Share Premium in excess of Fair Market Value.Onus on the Company to explain source of shareholders' funds. Unexplained income, investments, etc. to be taxed at maximum marginal rate.... Budget 2012 -Service & Income Tax Provisions Posted: 29 Mar 2012 07:12 PM PDT REVERSE CHARGE MECHANISM -Primary Liability to pay service tax lies on the service provider. The service provider collects the service tax from the service receiver and is liable to take registration with the Service Tax Department and complete all... Excel Tips – How to Split Contents of Cells? Posted: 29 Mar 2012 08:43 AM PDT Suppose you have entered the full name of a person in a particular cell and you now want to have Surname, First Name and Middle Name in three different cells. To do this, simply select the cell that contains the Full Name of the person, Click .... Private Sector in Passport Work do only only non-sensitive functions Posted: 28 Mar 2012 09:30 PM PDT As part of the Passport Seva Project, 77 Passport Seva Kendras (PSKs) are being established across the country on public-private-partnership basis as approved by the Union Cabinet in September 2007. Tata Consultancy Services have been entrusted... CBI Arrests Customs Superintendent For Accepting Bribe Posted: 28 Mar 2012 09:26 PM PDT The Central Bureau of Investigation, Chennai has registered a case against a Supdt. of Customs (presently Authorised Officer, ELCOT Special Economic Zone, Sholinganallur, Chennai) U/s 7 of Prevention of Corruption Act, 1988 on the allegation that he... Clarification Regarding Mega Power Project (MPP) exemption Posted: 28 Mar 2012 09:13 PM PDT Circular No. 963/06/2012-CX Whether the FDR is required to be submitted to the jurisdictional officer in-charge of the Mega Power Project or to the jurisdictional officer in-charge of the factory from where the goods are cleared for supply to such... Aayat Niryat Form 2E(ANF 2E) – Application for Special Chemicals, Organisms, Materials, Equipment and Technologies (SCOMET) Export Licence – Introduction of Provision for On-line filing Posted: 28 Mar 2012 09:10 PM PDT Trade Notice 25 Facility for online filing of Aayat Niryat Form 2E (application form for SCOMET Licence) is being introduced by DGFT to reduce time and transaction cost for the exporters and facilitate faster processing of SCOMET applications.... SLBC website – Standardisation of information/data Posted: 28 Mar 2012 09:05 PM PDT As you are aware, all the SLBC convenor banks have been advised vide circular RPCD.CO. LBS.HLC.BC. No. 56/02.19.10/2009-10 dated February 26, 2010, to maintain the SLBC websites where all instructions pertaining to the Lead Bank Scheme and... Refund of 4% CVD (SAD)-Extension of time upto 30th June 2012, for using re-credited 4% CVD (SAD) amount in DEPB-Regarding Posted: 28 Mar 2012 09:04 PM PDT Circular No.10/2012-Customs Your kind attention is invited to the Circular No.02/2012-Customs, dated 16-02-2012, regarding procedure on refund of 4% CVD (SAD). The above Circular provides the facility of manual filing of Bill of Entry for utilizing... SEBI Review of Regulatory Compliance and Periodic Reporting Posted: 28 Mar 2012 09:03 PM PDT Bankers to an Issue (BTIs) are required to furnish periodical reports on quarterly and annual basis in electronic form in the prescribed format in terms of SEBI Circulars No. RBT(G I Series) Circular No. 1(95-96)) dated April 21, 1995, BTI Circular... Seeks to amend Notification No.16/2011-Cus (N. T.), dated, 1st March, 2011 Posted: 28 Mar 2012 09:03 PM PDT Notification No. 27/2012 - Customs (N.T.) In exercise of the powers conferred by section 11 of the Customs Act, 1962 (52 of 1962), the Central Government on being satisfied that it is necessary in the public interest so to do, hereby makes the... Goods manufactured by EOU out of raw materials supplied another EOU and subsequently cleared to DTA – Eligible for benefit of Notification No.8/97-CE – SC Posted: 28 Mar 2012 08:57 PM PDT There is no ambiguity, whatsoever, in the Notification issued by the Central Government. The Notification speaks of finished goods produced or manufactured by a 100% EOU and if it is sold in a DTA, the said EOU can take the benefit of the... Indian Rail – Online Reservation of Concessional Tickets , Wi–Fi Facility &amp: 3 New Acts Posted: 28 Mar 2012 08:48 PM PDT All persons including physically handicapped persons can book full fare tickets on payment through the internet. However, booking of concessional tickets requiring verification of the requisite concession certificate and also retention of copies of... [[ This is a content summary only. Visit www.taxguru.in for full article.]]