Service tax on staff benefits & employment related transactions

Samosa justice Posted: 27 Jul 2012 07:55 PM PDT THE days of the cheap samosa are over. While the savoury little delight is consumed with great relish by Pakistanis around the year, sales of the samosa skyrocket during Ramazan as it is a staple of the iftar spread. However, the Supreme Court has set aside a notification of the Punjab government... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Service tax on staff benefits & employment related transactions Posted: 27 Jul 2012 07:39 PM PDT Subsequent to the operationlisation of the Negative List, a number of issues have been raised in relation to the manpower supply or the services provided by the directors of a company or by the employer to the employees. These issues have been examined and are proposed to be clarified as follows: [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Delhi HC stays differential demand of service tax of 2% on services provided & invoices issued prior to 01.04.2012 Posted: 27 Jul 2012 07:31 PM PDT Delhi High Court today Stays collection of differential demand of service tax of 2% on services provided and invoices issued prior to 01.04.2012 for which payment received after 31.03.2012 on following 8 categories of professionals services - Architect, Interior Decorator, Cost Accountant,... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] DTAA between India and Estonia Posted: 27 Jul 2012 07:30 PM PDT Notification no. 27/2012 Whereas an Agreement and the Protocol between the Government of the Republic of India and the Government of the Republic of Estonia for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income was signed at Tallinn, Estonia, on... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] DTAA between India and Lithuania Posted: 27 Jul 2012 07:30 PM PDT Notification No. 28/2012 Whereas an Agreement and the Protocol between the Government of the Republic of India and the Government of the Republic of Lithuania for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and on Capital (DTAA) was signed... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Tax Rates / Reckoner for Financial Year 2012-13 Posted: 27 Jul 2012 07:15 PM PDT Tax Implication on Dividend received by Unitholders - Tax Rate on Dividend Distribution , Capital Gain, Income Tax Rates, Securities Transaction Tax (STT) for financial Year 2012-13 or Assessment year 2013-14. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Jewellers misuse PAN Card details from Railway reservation charts Posted: 27 Jul 2012 06:40 PM PDT While complying with TCS rules for collection, payment and uploading of TCS information (E-filing of TDS returns), Jewellery dealers have to furnish PAN of customers. For Certain customers,it is not convenient to provide PAN as they may have constraints in explaining the source.In such cases to... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] ITR -7 For A.Y. 2012-13 / F.Y. 2011-12 Posted: 27 Jul 2012 05:49 PM PDT NOTIFICATION No. 29/2012 In the Income-tax Rules, 1962, in Appendix-II, for Form ITR-7, the following Form shall be substituted, namely:- INDIAN INCOME TAX RETURN - [For persons including companies required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or section... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Whether employees sent on deputation to subsidiary/ associate companies amount to manpower recruitment or supply service before or after 1st July, 2012 Posted: 27 Jul 2012 04:40 PM PDT The appellants were sending their manager/ employees to hotels run by the subsidiary/ associate companies on deputation. They were recovering costs on actual basis and were not retaining any amount out of the payment made by the hotels run by the subsidiary/ associate companies. The contention... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Cloud Computing – Opportunities and Challenges for CA's Posted: 27 Jul 2012 04:07 PM PDT Cloud computing is a technology that uses the internet & central remote servers to maintain data & applications. It allows consumers & businesses to use applications without installation & access their personal files at any computer with internet access. This technology allows... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Coffee Table book on Indian Customs 'Anything to Declare' Released Posted: 27 Jul 2012 02:00 PM PDT Central Board of Excise and Customs is celebrating 2012 as the Golden Jubilee year to commemorate 50 years of the Customs Act, 1962. As a part of these celebrations, a Postage Stamp and a Coffee Table book on Indian Customs -Anything to Declare were released at a function held here today. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Rajiv Gandhi equity scheme to be launched by August 15 Posted: 27 Jul 2012 01:24 PM PDT Finance Ministry is likely to launch the Rajiv Gandhi Equity Scheme, which is aimed at boosting retail investments in the capital market, by August 15. Officials from the Department of Economic Affairs (DEA) would meet counterparts in market regulator Sebi next week to finalise the details of the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Sibal Launches Anti-Ragging Web-Portal Posted: 27 Jul 2012 12:54 PM PDT Shri Kapil Sibal Launches Anti-Ragging Web-Portal Shri Kapil Sibal, Union Minister of Human Resource Development inaugurated the Anti-Ragging Web Portal here today. The portal has been developed by the University Grants Commission (UGC) in collaboration with Ed.CIL (India) Ltd. and Planet E-Com... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Admission Notice for Company Secretaries Executive Programme Posted: 27 Jul 2012 12:44 PM PDT In a Press Release the Institute has made it clear that Graduates seeking admission till 31st August, 2012 will be eligible for Examination in June 2013. B.A / B.Sc / B.Com/ Graduates of any discipline (excluding Fine Arts) can pursue the CS EXECUTIVE PROGRAMME conducted by the Institute of Company... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Rebate u/s. 88E is to be allowed from tax computed u/s. 115JB Posted: 27 Jul 2012 12:39 PM PDT Rebate under section 88E was to be allowed from the tax computed as per provisions of section 115JB to find out whether after set off of rebate under section 88E, any tax liability remained or not. Admittedly the tax liability as per MAT provisions was Rs.7,56,694/- and rebate admissible under... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] DGFT – Amendments in HBP Vol.1 wef 5.6.2012 Posted: 27 Jul 2012 12:25 PM PDT Public Notice No. 12 (RE-2012)/ 2009-14, In exercise of the powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-14, the Director General of Foreign Trade hereby amends para 2.13.2.A, 3.6.1, 3.10.3, 3.11.7, 3.11.8, 4.19, 5.10 and 5.23 of the Handbook of Procedures Vol I (RE 2012)/... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] DGFT opens additional branchs at Bengaluru & Hyderabad for issuing Certificate of Origin (Non Preferential) Posted: 27 Jul 2012 12:19 PM PDT PUBLIC NOTICE NO.11(RE 2012)/2009-2014 One additional branch each at Bengaluru and Hyderabad has been added for issuing Certificate of Origin (Non Preferential). [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Court jails two excise official in bribery case Posted: 27 Jul 2012 12:17 PM PDT The Special Judge for CBI Cases, Jabalpur has convicted Shri B.C. Ekka, the then Superintendent & Shri M.K. Singh, the then Excise Inspector, both working in the office of Asstt. Commissioner, Customs & Central Excise, Jabalpur and sentenced them to undergo two years rigorous imprisonment... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] DGFT Notification to give effect to Certain amendments/modifications in Foreign Trade Policy wef 05.06.2012 Posted: 27 Jul 2012 12:11 PM PDT Notification No. 8 (RE-2012) /2009-2014, In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992, as amended, read with paragraph 1.3 of the Foreign Trade Policy, 2009-2014, the Central Government hereby amends with immediate effect para... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Exposure Draft on Micro Insurance (Modification) Regulations Posted: 27 Jul 2012 11:56 AM PDT Circular no. IRDA/Life/MI/2012, dated 26-07-2012 - On comprehensively examining the existing business model adopted under Micro Insurance vis-a-vis the extant regulations on Micro Insurance, the Authority proposes to review the IRDA (Micro Insurance) Regulations, 2005. Accordingly, an exposure... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Contents of Application Form & Abridged Prospectus for Public Issue of Debt Securities Posted: 27 Jul 2012 11:56 AM PDT 1. SEBI had notified SEBI (Issue and Listing of Debt Securities) Regulations in 2008 specifying norms for public issue of debt securities and privately placed listed debt securities. 2. With respect to public issue of debt securities, there is currently no specified standard format for the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Custom Duty – Amending Courier Imports & Exports (Electronic Declaration & Processing) Regulations, 2010 Posted: 27 Jul 2012 11:40 AM PDT Notification No. 65/2012-Customs (N.T.) , New Delhi, dated the 26th July, 2012                         G.S.R.  (E). – In exercise of the powers conferred by section 157 of  the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following regulations... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Companies to enter SRN of form 24AAA in form 21 & 23 wef 12.08.2012 Posted: 27 Jul 2012 11:40 AM PDT Companies (Central Government's) General Rules and Forms (Fifth Amendment) Rules, 2012 - (Form 21 & 23) - In exercise of the powers conferred by sub-section (1) of section 642 read with section 610B of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following rules... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Due date for filing Cost Audit & Compliance Report in XBRL mode extended to 31.12.2012 Posted: 27 Jul 2012 11:31 AM PDT General Circular No. 18/2012 It has now been decided by the Ministry that all cost auditors and the concerned companies will be allowed to file their Cost Audit Reports and Compliance Reports for the year 2011-12 [including the overdue reports relating to any previous year(s)] with the Central... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]