From: LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in>
Date: Sat, Apr 16, 2011 at 10:01 AM
Subject: TaxGuru.in : Legal & Tax Updates
To: palashbiswaskl@gmail.com
TaxGuru.in : Legal & Tax Updates |
- CBDT – Status of Income tax Refund issued from April 1 to 14 2011
- CBDT decides to reduce no. of statistical/ progress reports to two or three from around 30
- RBI circular on Submission of system audit reports
- ICAI committee compiling difficulties faced by the assessees in claiming TDS credit
- ICAI Announcement-Zone-shifting of candidates for May-2011 CA Exams
- Volume in shares not deciding factor to hold assessee trader
- Revised procedure for Appointment of Cost Auditor by the Companies
- Download ITR-1 SAHAJ, ITR 2, ITR 3, SUGAM (ITR-4S), ITR-4 ITR 5, ITR-6, ITR-7 in excel, word and Pdf Format for A.Y. 2011-12 / Financial Year 2010-11
- SC bench recuses itself from hearing Subhiksha case
- Real estate prices likely to remain stable in Mumbai – MCHI President
- Import of New trim Cutting Waste for use in manufacture of Chindi rugs – Circular No. 20/2011-Customs
- Compliance of DGFT Notification No. 44 (RE-2000)/1997-2002 dated 24.11.2000 – Labeling of goods in bond prior to Ex-bond clearance
- Transfers of Income Tax Appellate Tribunal (ITAT) Members (April 2011)
- DGFT – Clarification about requirement of Declaration of Intent for EOU shipping bills for claiming Chapter 3 scheme benefits
- Inflation rises to 8.98 percent; More rate hikes on card
- Give Rs 617 cr bank guarantee in tax dispute – SC to Satyam
- Ministry releases Draft Rules under Section 43A & Section 79 of Information Technology Act, 2000 for public comments
- Trai recommends tax benefits to telecom infra firms
- SC to Vodafone – Appear before IT in tax case
- RBI fixes reference rates for US dollar and euro
- Why govt can't disclose the name of persons having black money in foreign banks
- Supreme Court to hear Vodafone plea for protection penal action by I-T Dept
- Obama seeks tax on wealthy, cuts in public debt
- IRDA – Motor Insurance Premium Rates for Third Party Liability Only Cover
- Amends Notification No. 36/2001 – Customs (N.T.), dated, the 3rd August, 2001 vide Notification No. 31/2011-CUSTOMS (N. T.)
CBDT – Status of Income tax Refund issued from April 1 to 14 2011 Posted: 15 Apr 2011 08:21 PM PDT From the desk of Chairman,CBDT S.N. 35/April 15 ,2011. CBDT compliments one & all for their profound sincerity & deep commitment in issuing record number of refunds in the first 14 days of April 2011 & is confident that the remaining... [[ This is a content summary only. Visit www.taxguru.in for full article ]] |
CBDT decides to reduce no. of statistical/ progress reports to two or three from around 30 Posted: 15 Apr 2011 08:18 PM PDT At the moment field formations are preparing around 30 statistical/ progress reports. CBDT realizes that substantial time is consumed in preparing these reports. It is, therefore, decided to reduce the number of these reports to two or three. For... [[ This is a content summary only. Visit www.taxguru.in for full article ]] |
RBI circular on Submission of system audit reports Posted: 15 Apr 2011 07:34 PM PDT DPSS.CO.OSD. No. 2374/06.11.001/2010-2011 - In partial modification of the instructions contained therein, it is advised that the system audit may be conducted by a Certified Information Systems Auditor (CISA) and registered with Information Systems... [[ This is a content summary only. Visit www.taxguru.in for full article ]] |
ICAI committee compiling difficulties faced by the assessees in claiming TDS credit Posted: 15 Apr 2011 07:12 PM PDT Direct Taxes Committee of ICAI is compiling the difficulties faced by the assessees in claiming credit of Tax deducted at source. I request you to kindly send the issues, if any, being faced by your goodself or by members or by any assessees of... [[ This is a content summary only. Visit www.taxguru.in for full article ]] |
ICAI Announcement-Zone-shifting of candidates for May-2011 CA Exams Posted: 15 Apr 2011 07:04 PM PDT Due to paucity of accommodation in some Zones opted by the candidates in the cities of Bangalore, Chennai, Delhi, Indore and Kolkata, some of the candidates have been allotted examinations centres in other zones of the said cities where the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] |
Volume in shares not deciding factor to hold assessee trader Posted: 15 Apr 2011 06:56 PM PDT Ramesh Babu Rao vs. ACIT (ITAT Mumbai) - Considering the fact that assessee is not a broker or sub-broker and also not having any office establishment and also on the fact that all the shares as available on 0 1.04.2005 were sold mostly by the end... [[ This is a content summary only. Visit www.taxguru.in for full article ]] |
Revised procedure for Appointment of Cost Auditor by the Companies Posted: 15 Apr 2011 06:29 PM PDT The company required to get its cost records audited under section 233B (1) of the Companies Act, 1956 shall appoint a cost auditor who is a cost accountant as defined in clause (b) of sub-section (1) of section 2 of the Cost and Works Accountants... [[ This is a content summary only. Visit www.taxguru.in for full article ]] |
Posted: 15 Apr 2011 06:04 PM PDT Download ITR-1 SAHAJ A.Y. 2011-12, Download ITR 2 A.Y. 2011-12, Download ITR 3 A.Y. 2011-12, Download SUGAM (ITR-4S) A.Y. 2011-12, Download ITR-4 A.Y. 2011-12, Download ITR 5 A.Y. 2011-12, Download ITR-6 A.Y. 2011-12, Download ITR-7 A.Y. 2011-12,... [[ This is a content summary only. Visit www.taxguru.in for full article ]] |
SC bench recuses itself from hearing Subhiksha case Posted: 15 Apr 2011 10:27 AM PDT A Supreme Court bench has recused itself from hearing cash-strapped retailer Subhiksha's petition seeking a stay on criminal proceedings initiated against it after a cheque issued to Kotak Mahindra Bank was dishonoured. A bench of justices Markandey... [[ This is a content summary only. Visit www.taxguru.in for full article ]] |
Real estate prices likely to remain stable in Mumbai – MCHI President Posted: 15 Apr 2011 09:23 AM PDT Real estate prices in the metropolis, one of the most expensive realty markets in the country, are expected to remain stable in the near future, a top industry official said today. "The real estate prices may remain stable as the new supply is not... [[ This is a content summary only. Visit www.taxguru.in for full article ]] |
Posted: 15 Apr 2011 07:50 AM PDT Circular No. 20 /2011-Customs - It is clarified that import of trim cutting waste or fabric trims of continuous length with maximum width restriction of ten inches (10") falling under heading 6310, required for manufacture of Chindi rugs shall not... [[ This is a content summary only. Visit www.taxguru.in for full article ]] |
Posted: 15 Apr 2011 07:47 AM PDT Circular No. 19 /2011-Customs - DGFT Notification No.44 (RE-2000)/1997-2002 dated 24.11.2000 provides for labeling of the goods imported into India which are covered by the provisions of 'Standards of Weights & Measures (Packaged Commodities)... [[ This is a content summary only. Visit www.taxguru.in for full article ]] |
Transfers of Income Tax Appellate Tribunal (ITAT) Members (April 2011) Posted: 15 Apr 2011 07:32 AM PDT In pursuance of the consultations of the collegium of the Income Tax Appellate Tribunal consisting of the President and two senior-most Vice-Presidents, the following Members of the Tribunal are hereby transferred in public interest, in the same... [[ This is a content summary only. Visit www.taxguru.in for full article ]] |
Posted: 15 Apr 2011 07:27 AM PDT Policy Circular No. 28 (RE-2010)/2009-14 - EOUs are eligible for Chapter 3 benefits without "Declaration of Intent" on shipping bills for the period 1.4.2008 till 31.12.2010. EOU shipping bills are not treated as "free shipping bills". Hence, DGFT... [[ This is a content summary only. Visit www.taxguru.in for full article ]] |
Inflation rises to 8.98 percent; More rate hikes on card Posted: 15 Apr 2011 04:08 AM PDT Driven by increase in prices of food and manufactured goods, inflation soared to 8.98 per cent in March raising fears of yet another hike in key policy rates by the Reserve Bank next month.Headline inflation, measured by movement in wholesale... [[ This is a content summary only. Visit www.taxguru.in for full article ]] |
Give Rs 617 cr bank guarantee in tax dispute – SC to Satyam Posted: 15 Apr 2011 03:04 AM PDT The Supreme Court today directed Mahindra Satyam to make its presentation before the Central Board of Direct Taxes (CBDT) relating to its tax dispute within two weeks, and also asked it to furnish a bank guarantee of Rs 617 crore by April 25.... [[ This is a content summary only. Visit www.taxguru.in for full article ]] |
Posted: 15 Apr 2011 02:55 AM PDT Ministry of Communications and Information Technology, Government of India had put up during draft rules under section 43A and 79 of Information Technology Act, 2000. Section 43A provides for compensation for failure to protect senry sitive... [[ This is a content summary only. Visit www.taxguru.in for full article ]] |
Trai recommends tax benefits to telecom infra firms Posted: 15 Apr 2011 01:49 AM PDT The Telecom Regulatory Authority of India (Trai) has recommended that telecom infrastructure be considered as general infrastructure and make tax benefits available to the sector. "In view of the growing importance of the telecom infrastructure in... [[ This is a content summary only. Visit www.taxguru.in for full article ]] |
SC to Vodafone – Appear before IT in tax case Posted: 15 Apr 2011 01:39 AM PDT The Supreme Court today directed UK-based telecom major Vodafone to appear before the Income Tax Department which had instructed the company to pay penalty in the USD 2 billion tax case relating to the telecom major's stake purchase in... [[ This is a content summary only. Visit www.taxguru.in for full article ]] |
RBI fixes reference rates for US dollar and euro Posted: 15 Apr 2011 01:30 AM PDT The Reserve Bank of India (RBI) today fixed the reference rate for the US dollar at Rs 44.52 per dollar and the euro at Rs 64.41 per euro, as against Rs 44.48 per dollar and Rs 64.42 per euro on April 13. In a press release issued by the RBI, the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] |
Why govt can't disclose the name of persons having black money in foreign banks Posted: 14 Apr 2011 09:53 PM PDT The Centre on Friday declined before the Supreme Court to make public names of the people who have stashed black money in foreign banks. It informed that it is not possible to disclose information received from foreign governments under the Double... [[ This is a content summary only. Visit www.taxguru.in for full article ]] |
Supreme Court to hear Vodafone plea for protection penal action by I-T Dept Posted: 14 Apr 2011 09:34 PM PDT The Supreme Court would hear tomorrow a plea by Vodafone challenging the I-T Department initiating penalty proceedings in the $ 2 billion tax case relating to the company's stake purchase in Hutchison-Essar. Voadfone's application would be mentioned... [[ This is a content summary only. Visit www.taxguru.in for full article ]] |
Obama seeks tax on wealthy, cuts in public debt Posted: 14 Apr 2011 09:32 PM PDT With an eye on the 2012 presidential elections, the US President Barack Obama has proposed significant reduction in budgetary deficits through a series of proposals including taxing the wealthy and seeking spending cuts. "In December, I agreed to... [[ This is a content summary only. Visit www.taxguru.in for full article ]] |
IRDA – Motor Insurance Premium Rates for Third Party Liability Only Cover Posted: 14 Apr 2011 07:37 PM PDT IRDA/NL/NTFN/MOTP/066/04/2011 - By virtue of the power vested in the Authority under Section 14(2) (i) of the IRDA Act, 1999, it is hereby notified that with effect from 25.04.2011, the rates of premium applicable to Motor Third Party Liability... [[ This is a content summary only. Visit www.taxguru.in for full article ]] |
Posted: 14 Apr 2011 06:58 PM PDT Notification No. 312011-CUSTOMS (N. T.) - In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following... [[ This is a content summary only. Visit www.taxguru.in for full article ]] |
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