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Apr 18, 2013

Understanding Deemed Dividend – Section 2(22)(e)

Understanding Deemed Dividend – Section 2(22)(e)

Posted: 17 Apr 2013 08:30 PM PDT

 - Section 2(22)(e) of the IT Act'1961 deals with the issue of "deemed dividend." -  Provisions of Section 2(22)(e) are as under: "dividend" includes‑(e) any payment by a company, not being a company in which the public are substantially interested, of any sum (whether as representing a part of the...

S. 80-IA(5) – Absorbed losses pre 'initial assessment year' need not be set off

Posted: 17 Apr 2013 07:23 PM PDT

From a plain reading of the sub-section (5) of section 801A, it can be gathered that it is a non­ obstante clause which overrides the other provisions of the Act and it is for the purpose of determining the quantum of deduction under section 801A, for the assessment year immediate(y succeeding the...

RTI -Income-tax department return scrutiny guidelines should be public – HC

Posted: 17 Apr 2013 06:54 PM PDT

The expression, economic interest, thus takes within its sweep matters which operate at a macro level and not at an individual, i.e., micro level. In my view, by no stretch of imagination can scrutiny guidelines impact economic interest of the country. These guidelines are issued to prevent...

India-Argentina TIEA is effective from 28-1-13

Posted: 17 Apr 2013 11:58 AM PDT

NOTIFICATION NO. 22/2013 [F.NO. 504/3/2010-FTD-II]/SO 824(E), DATED 22-3-2013 Whereas, an Agreement between the Government of the Republic of India and the Government of the Argentine Republic for the exchange of information and assistance in collection with respect to taxes was signed at Argentina...

Local Body Tax in Maharashtra – Highlights

Posted: 17 Apr 2013 06:53 AM PDT

Octroi v/s LBT: At present octroi is the main source of revenue of Municipal Corporations in Maharashtra. This is the exclusive State where octroi is levied. In fact it is not levy but it is forcibly collection at the check post. It is the spot of harassment for the traders.

EC to accept PAN card, driving license &Aadhar letter as valid document

Posted: 16 Apr 2013 11:54 PM PDT

The Election Commission (EC) has decided to accept PAN card, driving license and Aadhar letter as valid documents of proof of date of birth, which can be submitted by an applicant for registration as an elector, an official said on Wednesday. Haryana Chief Electoral Officer Shrikant Walgad on...

Guidelines for Suo Motu Disclosure by Central Government Ministries/Departments and Public Authorities Issued

Posted: 16 Apr 2013 10:46 PM PDT

Government has issued guidelines for suo motu disclosure by Central Government Ministries/Departments and Public Authorities thereunder. These guidelines are based on the recommendation of the Task Force set up by the Government for strengthening compliance with provisions for suo motu (proactive)...

Consultation paper on Guidelines/Accreditation Mechanism for Television Rating Agencies in India

Posted: 16 Apr 2013 09:50 PM PDT

TRAI has released a consultation paper on "Guidelines/Accreditation Mechanism for Television Rating Agencies in India". MIB has sought recommendations of TRAI for laying down comprehensive guidelines/accreditation mechanism for TRP (Television Rating Points) rating agencies in India to ensure...

Empanelment of CA, ICWA for conduct of Financial Audit of NREGS programme

Posted: 16 Apr 2013 07:42 PM PDT

Sealed quotation is hereby invited by the District Magistrate & District Programme Co-ordinator, NREGS, Coochbehar from resourceful bonafied reputed chartered Accountant or ICWA Firm / Professionally skilled person having valid Income Tax / Service Tax etc. registration with experience and...

DVAT – No Security to be furnished by dealers, who apply online for registration up to 30.06.2013

Posted: 16 Apr 2013 07:36 PM PDT

No security would be required to be furnished by such dealers, who apply online for registration with the Department up to the 30th of June, 2013. However, the dealers, who apply for registration manually, shall furnish the prescribed security, in the usual manner.

3 Year Jai Term to then Assistant Commissioner Of Central Excise & Customs, Dhanbad In Bribery Case

Posted: 16 Apr 2013 07:31 PM PDT

The Special Judge for CBI, cases, Dhanbad(Jharkhand) has convicted Shri Pravin Kumar Jain, the then Assistant Commissioner, Central Excise & Customs, Dhanbad and sentenced him to undergo three years Rigorous Imprisonment with fine of Rs. 10,000/- in each section of 7 & Sec.13(2) r/w 13(1)...

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