Fwd: TaxGuru.in : Legal & Tax Updates

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From: LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in>
Date: Sun, Aug 1, 2010 at 9:39 AM
Subject: TaxGuru.in : Legal & Tax Updates
To: palashbiswaskl@gmail.com

TaxGuru.in : Legal & Tax Updates

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• Income Tax Return Filing last date extended to 4th August 2010
• Instruction regarding issue of certificate of lower collection of tax at source u/s 206C(9).
• MVAT return filing date for quarter ended 30.06.2010 extended
• India, Switzerland agreed to widening the ambit of tax treaty
• Accoune Restatement may cost Mahindra Satyam in excess of 50 crore
• Clarification from Minister of State for Finance on Processing of PAN Card
• ICAI President's Message – August 2010
• Services provided by state governments under Centrally Sponsored Schemes (CSS) – Service Tax Circular No.125/7/2010
• Sebi/RBI allows exchanges to introduce currency options on US dollar pairing with rupee
• Taxation of Banks – Press Release

Income Tax Return Filing last date extended to 4th August 2010 Posted: 31 Jul 2010 08:11 AM PDT The CBDT has decided to extend the due date of filing of Income Tax returns from 31st July 2010 to 4th August 2010. All paper returns or e-returns filed on or before 4th August, 2010 would be considered as filed within the due. [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

Instruction regarding issue of certificate of lower collection of tax at source u/s 206C(9). Posted: 31 Jul 2010 08:07 AM PDT Section 206C of the Income-tax Act, 1961 - Collection of tax at source - Profits and gains from business of trading in alcoholic liquor, forest produce, scrap, etc. - Instruction regarding issue of certificate of lower collection of tax at source... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

MVAT return filing date for quarter ended 30.06.2010 extended Posted: 31 Jul 2010 08:00 AM PDT DUE DATE FOR FILING RETURNS FOR THE PERIOD ENDING 30TH JUNE 2010 IS EXTENDED UP TO 7TH AUGUST 2010." [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

India, Switzerland agreed to widening the ambit of tax treaty Posted: 31 Jul 2010 07:17 AM PDT The government has concluded the renegotiation for widening the ambit of its tax treaty with Switzerland to access information on swissbank accounts, a big step towards tracing Indian money stashed away overseas. The tax treaty has been amended on... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

Accoune Restatement may cost Mahindra Satyam in excess of 50 crore Posted: 31 Jul 2010 05:07 AM PDT Mahindra Satyam may end up paying a huge fee for restatement of its book of accounts that were allegedly fudged by its former Chairman Mr B. Ramalinga Raju. Indications are that the Hyderabad-based company will shell out close to Rs 60 crore by... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

Clarification from Minister of State for Finance on Processing of PAN Card Posted: 31 Jul 2010 04:08 AM PDT The service providers are required to issue Permanent Account Number Cards within 15 calendar days for fresh applicant and within 20 calendar days for reprint/ correction, excluding the time taken by the department and the applicant. The weighted... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

ICAI President's Message – August 2010 Posted: 31 Jul 2010 01:50 AM PDT Values and morals if practised only within profession may bring in dangerous consequences. The virtues of our values, morals, ethics and skills need to spill over to the society at large, to the entire nation and to the whole world. We as... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

Services provided by state governments under Centrally Sponsored Schemes (CSS) – Service Tax Circular No.125/7/2010 Posted: 31 Jul 2010 01:34 AM PDT Service Tax Circular No.125/7/2010 – ST, Dated:-30th July, 2010 Services provided by state governments under Centrally Sponsored Schemes (CSS) – regarding. In the recent past, instances have come to the notice of the Board, where field... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

Sebi/RBI allows exchanges to introduce currency options on US dollar pairing with rupee Posted: 30 Jul 2010 11:12 PM PDT Market regulator the Securities and Exchanges Board of India (Sebi) today allowed exchanges to introduce currency options on US dollar pairing with rupee, a development that provides another alternative to corporates for hedging against currency... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

Taxation of Banks – Press Release Posted: 30 Jul 2010 10:11 PM PDT India has not agreed to a "one size fits all" solution in the European Union Plan of taxing banks and has emphasized that such a tax is not appropriate for India, even though it may be appropriate for other countries e.g. in some European countries. [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

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Palash Biswas
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