LEGAL & FINANCIAL UPDATES 06.05.2009

UPDATES FROM TAX GURU Got Married; create HUF to save tax & format of deed for creation of HUF KEY POINTS IN CREATION OF HUF AND FORMAT OF DEED FOR CREATION OF HUF  Under the Income Tax Act, an HUF is a separate entity for the purpose of income tax return. The same tax slabs are applicable... Penalty can not be imposed where the controversy is regarding the legality of the claim made by the assessee: SC Kanbay Software vs. DCIT (ITAT Pune)  In respect of AY 2002-2003, the assessee claimed by a revised return that the loss suffered in respect of one s. 10A unit was not liable to be set-off... Know, why Its not the right time to invest in a house property That the property market has undergone a significant correction is well known. That real estate experts are now talking about prices bottoming out is well known too. But, contrary to conventional... Shocking-95% Appeals By Deptt. Quashed By CESTAT-Bangalore Believe it, 90 per cent of the appeals filed by the Customs, Central Excise and Service Tax Department of our nation against assessees, who had received a favourable order at the lower level, have.... Income-tax Act is a "National Disgrace" - Justice Dalveer Bhandari, Supreme Court Hon'ble Mr. Justice Dalveer Bhandari, Judge, Supreme Court of India The Learned Judge laments that the Income-tax Act is a "national disgrace". He says that it is unfortunate that the law is so... Can the contents required in ITR (Income Tax Returns) be contrary to the statutory provisions of Income Tax Act, 1961? In a landmark judgment Commissioner of Income Tax, Chennai Versus Chemplast Sanmar Limited - 2009 -TMI - 33295 - MADRAS HIGH COURT involving a question of law Honorable Court of Madras (Chennai)... Give copies of answersheets under the Right to Information Act, court tells ICAI The Delhi High Court on Thursday directed the Institute of Chartered Accountants of India (ICAI) to provide students with certified copies of answersheets under the Right to Information Act. Justice.... With Regards,  Sandeep Kanoi  Website: http://www.taxguru. in/  Get LEGAL & FINANCIAL UPDATES FROM TAX GURU delivered by email   Enter your email address: Delivered by FeedBurner ↑ Grab this Headline Animator

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