Take all, leave none – while filling your tax returns! Posted: 28 Aug 2012 08:09 PM PDT Income Tax – hardest to be understood by the genius of Albert Einstein, then what to say of the layman or even professionals like us. With this article I have attempted to simplify this hardest thing for better the understanding of our readers. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Filling Tax Returns- Last minute checks are important! Posted: 28 Aug 2012 08:08 PM PDT Now that Income Tax return filing season is at its feverish pitch, and everybody has swung into action, I thought of making you aware of the last minute dos and don'ts so that you hit the bull's eye in single shot. I [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| SC extends deadline for Maharashtra builders to pay VAT to October 31 Posted: 28 Aug 2012 07:59 PM PDT The SC has extended the deadline for builders to pay VAT from August 31 to October 31. If they do so, they are not entitled to pay penalty and 15% interest on delayed payment of VAT, according to the SC interim order. The builders must register with the sales tax department by October 15 before... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Free 'Quick Referencer' on Cooperatives & NPO Sectors Posted: 28 Aug 2012 06:13 PM PDT The 'Quick Referencer' contains the relevant information about cooperatives & NPO sectors in brief such as important acts, accounting standards, auditing standards, important provisions of direct and indirect taxes, registration under different acts, various forms, and other important... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| No TDS default for non-deduction of TDS on accommodation perquisites if concession not established Posted: 28 Aug 2012 12:21 AM PDT Assessing Officer has nowhere held in the impugned order that any concession was given by the employer to its employees and they have provided the accommodation on a concessional rates. Assessing Officer straightway applied Rule 3 without first establishing the case that the appellants have... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Free software to Prepare ITR & TDS Return Posted: 28 Aug 2012 12:08 AM PDT ICAI has arranged the 'Tax Cloud software: Cloud based ITR & TDS Return Preparation for CAs' enables Income Tax Return and TDS Return preparation, provides all types of assesses support including Individuals, HUFs, Firms and Companies, calculates Income Tax under all heads such as Salary,... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Compensation to end litigation – Capital gain or Business Profit? Posted: 27 Aug 2012 11:37 PM PDT CIT-DR has contended that compensation should be regarded as normal business receipt received in the normal course of business, we find that the same had not been received in lieu of undertaking any negative covenants not to compete with Schneider in India but on the contrary the assessee continues... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Service tax on vocational education/training course – Clarification Posted: 27 Aug 2012 11:19 PM PDT Circular No. 164/15/2012-ST Clarification has been sought in respect of levy of service tax on certain vocational education/training/ skill development courses (VEC) offered by the Government (Central Government or State Government) or local authority themselves or by an entity independently... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Empanelment of Stock Auditors with Central bank of India Posted: 27 Aug 2012 11:04 PM PDT Central Bank of India, Zonal Office, Pune invites applications for empanelment of CA firms for conducting of Stock Audit of our clients/borrowers enjoying credit facilities from branches situated in our Pune, Ahmednagar, Nasik and Aurangabad Regions. The eligibility criteria are as under:- [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Exemption can't be denied if placement & training fees is collected under authority of law Posted: 27 Aug 2012 10:32 PM PDT Chief Commissioner has relied on the Government of India resolution providing for fee structure, 1997 and the Government of Orissa Industries Department Resolution dated 17.09.1998 to come to a conclusion that the fees collected towards "placement and training" is in excess of what was prescribed... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Procedure for disposal of unclaimed/ uncleared cargo u/s. 48 of Customs Act, 1962, lying with custodians Posted: 27 Aug 2012 10:15 PM PDT Attention is invited to Board Circular No. 50/2005-Cus. dated 1st December, 2005, issued on the above mentioned subject. References have been received regarding difficulties faced in respect of disposal of motor cars and negative list items. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| CCIT Personally Responsible for Transfer Order Violation Posted: 27 Aug 2012 09:51 PM PDT The CBDT in its letter dated 27.08.2012 stated that there has been non-compliance and violation of the CBDT's order in respect of posting of officers on promotion to the grade to JCIT. The CBDT has taken a stern view and threatened that the concerned officer who issued the order and the CCIT (CCA)... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Antivirus software at discounted price for ICAI members Posted: 27 Aug 2012 09:41 PM PDT ICAI in order to enable members to have access to antivirus software, has tied up with Quick Heal technologies Pvt. Ltd. Pune for providing access to Quick Heal Total Security at a special discounted price of Rs. 750/- plus taxes only for 3 years from the date of activation. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Redemption of Indian Depository Receipts (IDRs) into Underlying Equity Shares Posted: 27 Aug 2012 07:22 PM PDT It is decided to allow partial fungibility of IDRs (i.e. redemption/conversion of IDRs into underlying equity shares) in a financial year to the extent of 25 % of the IDRs originally issued. Suitable instructions for modifying the existing legal framework governing IDRs, in order to implement the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| CBDT fixes Responsibilities of Chairman and Members of CBDT Posted: 27 Aug 2012 06:46 PM PDT Vide Order No. 170 of 2012 dated 27.08.2012 the CBDT has ordered the distribution of work amongst the Chairman and the Members of the CBDT. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Issue of Indian Depository Receipts (IDRs) – Limited two way fungibilty Posted: 27 Aug 2012 06:30 PM PDT . It has now been decided to allow a limited two way fungibility for IDRs (similar to the limited two way fungibility facility available for ADRs/GDRs) subject to the following terms and conditions:
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