E-filing of income tax returns compulsory if income above Rs 10 lakh

MVAT E-Annexures for non-VAT Audit Dealers Posted: 11 Apr 2012 09:02 PM PDT The Maharashtra Sales tax Department has made available the E-Annexures to be submitted by non-VAT Audit Dealers before submitting the last return for the Financial Year 2011-12 as per their circular No.3T of 2012. Application for allotment of New PAN in Form 49AA by foreign citizens wef 08.04.2012 Posted: 11 Apr 2012 08:27 PM PDT With effect from April 8, 2012, PAN applications are required to be furnished in the new forms prescribed by ITD. Foreign citizens will have to submit their 'Application for allotment of new PAN' in newly notified Form 49AA only. With effect from... Application for allotment of New PAN (Form 49A) for India Citizens wef 08.04.2012 Posted: 11 Apr 2012 08:09 PM PDT With effect from April 8, 2012, PAN applications are required to be furnished in the new forms prescribed by ITD. Indian citizens will have to submit their 'Application for allotment of new PAN' in revised Form 49A only. Foreign citizens will have... E-filing of income tax returns compulsory if income above Rs 10 lakh Posted: 11 Apr 2012 07:50 PM PDT The government has made it mandatory for individuals with income above Rs 10 lakh to file their tax returns 2011-12 onwards electronically. E-filing has been made compulsory for the person who is an individual, or a Hindu Undivided Family, if his or... Referencer on Customs Circulars (2011–2012) Posted: 11 Apr 2012 06:51 PM PDT 1. Implementation of Self-Assessment in Customs 2. Revision in the Customs part of Arrival Card for Passengers in Form 'D' - Notification issued by Ministry of Home Affairs –Compliance 3. Compliance of DGFT Notification No. 44 (RE-2000)/1997-2002... Referencer on MCA Circulars 2011-2012) Posted: 11 Apr 2012 06:48 PM PDT 1. Allotment of Director Identification Number (DIN) under Companies Act, 1956. 2. Certification of E-Forms under The Companies Act, 1956 by The Practicing Professionals. 3. Appointment of Cost Auditor by Companies 4. Simplified Procedure for... Referencer on Service Tax Circulars (2011-2012) Posted: 11 Apr 2012 06:39 PM PDT 1. Education Cess and Secondary and Higher Education Cess. 2. Service Tax Audit Manual 2011 3. Accounting Codes for the taxable services introduced vide the Finance Act, 2011 4. Assistance provided for processing visa applications Referencer on Excise Circulars (2011–2012) Posted: 11 Apr 2012 06:35 PM PDT 1. Accounting Codes for the Taxable Services introduced vide The Finance Act, 2011 2. Assistance provided for processing visa applications 3. Clarification on issues relating to CENVAT Credit Rules 2004 Benefit of Central Excise Duty exemption on... Commission to CMD for personal guarantee may be treated as ploy to divert funds Posted: 11 Apr 2012 08:20 AM PDT Honorable high Court in this case on the issue of payment of Commission by United Breweries Ltd. To its Chairman Shri. Vijay Mallya held that though the chairman has stood as guarantor in his personal capacity, the bank has lent money not on... Waiver of Loan Granted To Meet Cost of Assets Results in Reduction of Cost of Asset for Depreciation Posted: 11 Apr 2012 07:44 AM PDT After the introduction of Explanation 10, it is no longer possible to contend that the subsidy given by the government, by whatever name called, cannot be reduced from the actual cost of the assets in terms of Section 43(1) of the Act for the... Excise – Applicability of Interest on refund of pre-deposit amount Posted: 10 Apr 2012 11:59 PM PDT Interest on refund of pre-deposit amount is payable from the date of receipt of order of the tribunal by the commissioner. Interest to be paid on amount of pre deposit at the rate prescribed under the statutory provisions of the Act and not as per... Custom Corrigendum dated 11-04-2012 Posted: 10 Apr 2012 09:02 PM PDT Notification No. 32/2012 - Customs (N.T.) In exercise of the powers conferred by clause (aa) of sub-section (1) of section 7 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs, hereby makes the following further... ICAI Zone-shifting of candidates for May – 2012 CA Exams Posted: 10 Apr 2012 09:00 PM PDT Due to paucity of accommodation in some Zones opted by the candidates in the cities of Chennai, Delhi, Indore, Mumbai and Kolkatta, some of the candidates have been allotted examinations centres in other zones of the said cities where the... Custom Corrigendum dated 11-04-2012 Posted: 10 Apr 2012 08:53 PM PDT CORRIGENDUM - In exercise of the powers conferred under the Notification No. 37/2003-Customs (N.T.) dated 3rd June, 2003 issued under sub-section (1) of section 4 of the Customs Act, 1962 (52 of 1962), the Board hereby makes the following... Constitutional Validity of tax on service rendered in relation to lotteries promoted or marketed by Clients Posted: 10 Apr 2012 07:06 PM PDT Issue: Whether the explanation introduced to section 65(19)(ii) read with section 65(105)(zzb) of the Finance Act 1994 providing for levy of tax on service rendered in relation to lotteries promoted or marketed by the clients is unconstitutional as...