UPDATES FROM TAX GURU 03.11.2009

UPDATES FROM TAX GURU (in this message: 9 new items) Corruption in settling drawback claims: CVC asks CBEC to provide officers detailed checklists Formation & Taxation of Charitable Trust Section 10(6C) of the Income-tax Act, 1961 – Income arising to foreign company by way of fees for technical services – Notified companies Verification Status of Examination papers of Professional Competency Examination (PCE) held in June 2009 Register your TAN online and you can view e-TDS / TCS statement submitted with status of the same Funds raised through initial public offers (IPO) will be under scanner for end-use Banks and housing finance companies under scanner for imposing penalty on pre-payment of loans No LTA for government staff using personal car or taxi as mode of transport MTNL offered new 3G prepaid connections for Rs 109 Corruption in settling drawback claims: CVC asks CBEC to provide officers detailed checklists Posted: 02 Nov 2009 06:45 PM PST On the action front, the CVC report reveals that on the basis of its recommendations, various competent authorities imposed major penalty in 47 cases in September, and 14 of them belong to the Railways. Merely one officer from CBDT figures in this... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Formation & Taxation of Charitable Trust Posted: 02 Nov 2009 06:39 PM PST A public charitable or religious institution can be formed either as a Trust or as a Society or as a Company registered u/s 25 of the Companies Act. It generally takes the form of a trust when it is formed primarily by one or more persons. To form a... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Section 10(6C) of the Income-tax Act, 1961 – Income arising to foreign company by way of fees for technical services – Notified companies Posted: 02 Nov 2009 06:09 PM PST Direct Supply Contract - 24 Hawk Mk 132 AJT ac, Trg Aids, Fixed Spares, Flyaway packs, Supplementary Sparcs, Ferry of aircraft etc. Interim Flying Training of IAF pilots, training of a crew / maintenance crew and ferry of aircraft from UK to India,... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Verification Status of Examination papers of Professional Competency Examination (PCE) held in June 2009 Posted: 02 Nov 2009 06:02 PM PST # Roll Numbers of candidates where no change in marks found click Here All these candidates are being intimated by post. # Roll Numbers of candidates where change in marks found but there is no change in result or exemption in applied papers found... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Register your TAN online and you can view e-TDS / TCS statement submitted with status of the same Posted: 02 Nov 2009 05:54 PM PST A facility to register TAN online is available on the TIN website (www.tin-nsdl. com). The Income Tax Department requires all deductors to register their TANs online. Authenticated access (through user ID and password) will be provided to registered... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Funds raised through initial public offers (IPO) will be under scanner for end-use Posted: 02 Nov 2009 05:46 PM PST The Ministry of Corporate Affairs (MCA) has decided to conduct a quarterly scrutiny of the end-use of funds raised through initial public offers (IPO). To this end, the ministry has directed all Registrar of Companies (RoC) to coordinate with the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Banks and housing finance companies under scanner for imposing penalty on pre-payment of loans Posted: 02 Nov 2009 05:35 PM PST Several banks and housing finance companies have come under the scanner of the competition watchdog for imposing penalty on pre-payment of loans. The Competition Commission of India, according to a CCI official, is scrutinising a complaint... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] No LTA for government staff using personal car or taxi as mode of transport Posted: 02 Nov 2009 05:31 PM PST The government will not sanction leave travel allowance for an employee who uses personal car or taxi as mode of transport.However, the rule shall not be applicable to employees with a handicap or disability of self or dependent family member.... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] MTNL offered new 3G prepaid connections for Rs 109 Posted: 02 Nov 2009 05:21 PM PST Mahanagar Telephone Nigam Ltd on Monday said it will offer new 3G prepaid connections for Rs 109 in its Mumbai circle.New subscribers can avail new '3G Tariff', with local voice and video call charges at 20 paise per minute on own local network and... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] With Regards,  CA Sandeep Kanoi  Website: http://www.taxguru.in/  Get LEGAL & FINANCIAL UPDATES FROM TAX GURU delivered by emai

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