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Monday, May 2, 2011

Fwd: TaxGuru.in : Legal & Tax Updates



---------- Forwarded message ----------
From: LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in>
Date: Sun, May 1, 2011 at 9:43 AM
Subject: TaxGuru.in : Legal & Tax Updates
To: palashbiswaskl@gmail.com


TaxGuru.in : Legal & Tax Updates

Link to LEGAL & FINANCIAL  UPDATES FROM TAX GURU

Download Capital Gain calculator on Sale of Shares and Mutual Funds – LTCG, STCG

Posted: 30 Apr 2011 09:11 PM PDT

Calculator to calculate Capital Gain on Sale of Shares and Mutual Funds - LTCG, STCG

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Income Tax Calculator for Salaried Employee for FY 2011-12, 2010-11, 2009-10

Posted: 30 Apr 2011 09:00 PM PDT

Download Income Tax Calculator for Salaried Employee for Financial Year (FY) 2011-12, 2010-11, 2009-10 / Assessment Year 2012-13, 2011-2012, 2010-2011 in excel format category wise , Male/Female/Sr Citizen Age 60=80 Years.

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Automatic Due Date Reminder Calender for Financial Year 2010-11

Posted: 30 Apr 2011 07:24 PM PDT

Automatic Due Date Reminder Calender for Financial Year 2010-11. This Calender contains due dates of all the statutory and other Reports to be presented to Management and Banks. NT DUE DATES UNDER VARIOUS LAWS & AS PER BUSINESS NEEDS FROM APRIL...

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To qualify u/s. 194J, payment for technical services should be a consideration for acquiring or using technical know-how

Posted: 30 Apr 2011 09:19 AM PDT

Payments made to NSICT were for container movement and there were no professional or technical services involved in the movements of containers. The contention was restricted only to the technical services and not towards managerial or consultancy...

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Guwahati High Court stays notification levying service tax on lawyers

Posted: 30 Apr 2011 08:53 AM PDT

The Bar Association of Gauhati has filed a Writ Petition in the Gauhati High Court to challenge the levy of service-tax on "Legal Consultancy Services". The High Court has on 29th April 2011 said the matter requires in-depth scrutiny and directed...

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Rural households in India paid over Rs 470cr bribe for basic services

Posted: 30 Apr 2011 08:27 AM PDT

Ranging from Re one to Rs 950, rural households in the country could have paid a whopping Rs 471.8 crore last year as bribe to avail basic facilities such as ration, health, education and water supply, says a study. The 'India Corruption Study 2010...

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New Validation regarding TDS transactions not exceeding / exceeding threshold limit in quarterly e-TDS/TCS statement pertaining to FY 2010-11 and onwards

Posted: 30 Apr 2011 08:19 AM PDT

A. Procedure for preparation of return. Deductors' Manual for Quarterly Correction Returns B. Data structure (File Format) For statements pertaining to FY 2010-11 and onwards File Format for Form 24Q (1st, 2nd & 3rd Quarters). ...

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Infrastructure claims paid to franchisees vs. Rent u/s 194I

Posted: 30 Apr 2011 08:06 AM PDT

Held that the agreement was in fact a franchisee agreement and it could not be said that the rent was being paid by the assessee company to the licensee franchisee. There was no payment of rent by the assessee company to the licensees/franchisees...

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TDS on Commission and Supplementary Commission received by travel agents

Posted: 30 Apr 2011 08:04 AM PDT

It was held that tax should be deducted at source under Section 1 94H on amount available to agents being difference between airfare fixed by Airlines and price at which agents are enabled to sell tickets. Around the World Travels & Tours Pvt....

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Whether difference between commercial price and published price can be classified as commission or not?

Posted: 30 Apr 2011 07:58 AM PDT

CIT v. Qatar Airways (332 ITR 253) - The agents of the assessee (airline) were entitled to sell tickets at any price between the fixed commercial price and the published price. As a result the assessee would have no information regarding the final...

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Do facilities provided by hotels –fall under the term "carrying out work"

Posted: 30 Apr 2011 07:50 AM PDT

The word "carrying out work" u/s 194C is limited to any work which on being carried out culminates into a product or result (reliance was placed on the decision of the SC in case of Associated Cements). Circular 681 dated 3 March 1994 to the extent...

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Do hire charges with respect to hire equipment automatically call for TDS u/s 194C?

Posted: 30 Apr 2011 07:47 AM PDT

In the absence of any such acceptable material, the conclusion of the AO in treating the hiring of equipment as one falling under the category of sub-contract for provision of labour or the conclusion of the CIT(A) that at least 10% of the total...

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Whether hire of trucks without contract for carriage is covered under Sec 194C?

Posted: 30 Apr 2011 07:43 AM PDT

There is no material on record brought by the AO to prove that there was any written or oral agreement between the assessee and the transporter for carriage of goods. There is no material to establish that any payment exceeded the prescribed limits...

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Trade Negotiators given Guidelines

Posted: 30 Apr 2011 06:32 AM PDT

The Trade and Economic Relations Committee held its 17th meeting on the 29th April 2011 under the chairmanship of the Prime Minister. The committee reviewed the status of the India-European Union Bilateral Trade and Investment Agreement and...

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PM's Address at the Inauguration of the New Headquarters of the Central Bureau of Investigation

Posted: 30 Apr 2011 06:30 AM PDT

Over the years, the CBI has evolved into the premier investigating agency of the country. There is a loud clamour for the investigation to be handed over to the CBI, whenever there is a gruesome crime, a complex case, a politically sensitive matter...

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ICAI President's Message – May 2011 – (30-04-2011)

Posted: 30 Apr 2011 06:13 AM PDT

Filing Statements in XBRL and Implications: As you may be aware that the Ministry of Corporate Affairs has released a circular mandating certain class of companies in phase one for filing financial statements for the year ending 31st March, 2011, in...

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RBI – Working Group on Information Security, Electronic Banking, Technology Risk Management and Cyber Frauds- Implementation of recommendations

Posted: 30 Apr 2011 04:25 AM PDT

As you are aware, following the announcement in the April 2010 Monetary Policy Statement, the Working Group on Information Security, Electronic Banking, Technology Risk Management and Cyber Frauds was constituted, under the Chairmanship of Shri G....

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Kamath appointed chairman of Infosys; Shibulal as CEO

Posted: 30 Apr 2011 03:54 AM PDT

In a major top-level management restructuring, India's second largest software firm Infosys today named veteran banker K V Kamath as the new chairman to succeed founder N R Narayana Murthy, who retires in August. The over USD 6-billion Infosys...

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Transfers/ Postings of Additional/ Joint/ Deputy/ Assistant Commissioners of Income-tax

Posted: 30 Apr 2011 01:39 AM PDT

Vide Order No. 75 of 2011 dated 30.04.2011, the CBDT has transferred / posted Additional/ Joint/ Deputy/ Assistant Commissioners of Income-tax. Ordrer no. 75 of 2011

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Declaration For Proposed Tax Saving Investment and Expenditures For F.Y. 2011-12

Posted: 29 Apr 2011 08:17 PM PDT

Declaration For Proposed Tax Saving Investment and Expenditures For F.Y. 2011-12. Form for sending particulars of Income under section 192(2B) for the year ending 31st March 2012. Format of letter asking staff to submit proof of Investment made and...

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Articleship Leave Calculator with Form 119 for CA students

Posted: 29 Apr 2011 08:05 PM PDT

Articleship Leave Calculator with Form 119 for CA students. This calculator will help students of IPCC, PCC and PE II to know the Leave they are eligible and excess or shortage of Leave taken.

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TDS Chart for Financial Year 2010-11 / Assessment year 2011-12

Posted: 29 Apr 2011 07:47 PM PDT

Download Easy TDS Chart for Financial Year 2010-11 / Assessment year 2011-12

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Download Sigma Dpmo Calculator

Posted: 29 Apr 2011 07:37 PM PDT

This would help you to easily calculate the current Sigma Level of your Process. Sigma Level from DPMO. Sigma Level from Quality Yield (Yield = 1 - % defective). Sigma Level for DPM for Non Centered Process - Assumes 1.5 sigma shift (Normal...

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