Notification on Document Free IT Return of Trust & e-filing of audit report

Notification on Document Free IT Return of Trust & e-filing of audit report Posted: 12 Jun 2013 08:35 PM PDT Provided that where an assessee is required to furnish a report of audit specified under sub-clauses (iv), (v), (vi) or (via) of clause (23C) of section 10, section 10A, clause (b) of sub-section (1) of section 12A, section 44AB, section 80-IA, section 80-IB, section 80-IC, section 80-ID, section...

Transfer Pricing – Audit Report Format for international & specified domestic transactions with additional disclosures Posted: 12 Jun 2013 08:30 PM PDT CA Praveen Boda The CBDT has notified vide Notification No. 41 dated 10 June 2013,  new Form 3CEB which includes reporting on specified domestic transactions. The said notification also amends Rule 10A, 10AB, 10B, 10C, 10D and 10E. Following are the additional international transactions required to...

Tax Audit – 2nd Proviso to Section 44AB become redundant? Posted: 12 Jun 2013 07:26 PM PDT MORE INTERPRETATION OF 2ND PROVISO TO SECTION 44AB OF INCOME-TAX ACT Account books of State Co-Operative Societies are also audited by co-operative auditors of respective State Govt. Similarly, in Karnataka Value Added Tax Act, 2003, accounts of registered dealers are audited by Cost Accountants....

Fees paid to sub-arrangers for mobilizing deposits cannot constitute fees for technical services Posted: 12 Jun 2013 07:17 PM PDT India has adopted the source rule for taxing royalties and technical services since 1976. The rule which is an exception to the general rule deems technical services to arise if the services are utilized in India irrespective of where the services are rendered. Given that the term  'fees for...

Recent MVAT Amendments/Changes 2013 Posted: 12 Jun 2013 06:45 PM PDT The Schedules A,B,C,D appended to Maharashtra Value Added Tax Act, 2002 are amended with effect from 01-04-2013. Further, certain notifications are also amended. These amendments are briefly discussed below Amendments to Schedule A 1.  Braille Watches w-e-f 01.04.2013 are now covered by Schedule...

Rate of exchange of conversion of each of the foreign currency with effect from June 13, 2013 Posted: 11 Jun 2013 08:17 PM PDT Notification No. 60/2013-Customs (N.T.) DATED THE 12th June, 2013 In excise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs (CBEC) hereby makes the following further amendments in the Notification of the Government of India,...

DGFT – Two additional laboratories added for certification/grading of diamonds of 0.25 carats & above Posted: 11 Jun 2013 08:12 PM PDT To the existing authorised laboratories, two additional laboratories are added for purpose of certification/grading of diamonds of 0.25 carats & above. (xvi) International Gemological Institute (IGI) – Antwerp, Belgium; (xvii) International Gemological Institute (IGI) – Hong Kong.

Introduction of Basic Savings Account under Post Office Savings Account Rule 1981 Posted: 11 Jun 2013 07:40 PM PDT Introduction of "Basic Savings Account" under Post Office Savings Account Rule 1981 to facilitate opening of Zero Balance Accounts by beneficiaries of any Government Welfare Scheme-regarding.