| A Synopsis of Service Tax for Bankers: Banking and Other Financial Service Posted: 22 Jul 2010 08:48 PM PDT 
Service tax on Banking and other financial services was imposed w.e.f.16-07-2001. After going through many changes, expansion in scope, clubbing of some services, modification to the definition of service providers etc. the present coverage of this... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| Department makes arrangement to help taxpayers File Income Tax Returns in 5 minutes Posted: 22 Jul 2010 08:46 PM PDT 
Ninety counters, 40 help desks and 150 staff. All this to assist Bangaloreans file their annual income-tax returns. "The process has been simplified. Staff will be increased to 300 by Saturday. There is stationery stall and photocopy shop. People... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| Steps to be taken when your Income Tax Refund stuck with department Posted: 22 Jul 2010 08:45 PM PDT 
Unfortunately in our country, many honest tax-payers have pending income tax refunds. Whether it's the Income Tax (I-T) department's lethargy or the growing number of tax payers, delayed refunds remain high on the list of complaints against the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| Govt invokes secrecy provisions of DTAA to block all information about its effort to recover tax on black money Posted: 22 Jul 2010 08:44 PM PDT 
At a time when it is accused of doing little to unearth lakhs of crores of rupees stashed abroad illegally, the Centre on Wednesday invoked secrecy provisions of double taxation avoidance agreement (DTAA) to block all information about its efforts... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| SEBI barred use of mobile phones in dealing rooms Posted: 22 Jul 2010 08:44 PM PDT 
Most mutual funds have barred use of mobile phones in their dealing rooms to prevent front-running, though regulations didn't require them to do so until recently. Last week, the Securities and Exchange Board of India (Sebi) made this ban official... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| Processing of returns of Assessment Year 2009-10 – Steps to clear backlog Posted: 22 Jul 2010 08:43 PM PDT 
In all the returns filed in ITR-1 and ITR-2, for the Asst. Year 2009-10, where the aggregate TDS claim does not exceed Rs. Three lakh (3 lacs) and where the refund computed does not exceed Rs. 25,000; the TDS claim of the tax payer shall be accepted... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| Sebi asked mutual fund houses to maintain records of phone conversations in dealing rooms for eight years Posted: 22 Jul 2010 08:23 PM PDT 
The regulator's direction follows a June 17 order banning HDFC asset management company's (AMC) former equities dealer, Nilesh Kapadia, from stock market transactions. Kapadia was barred after allegations that he had tipped off his friend before... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| BSE to start separate exchange platform for the small and medium-size (SME) enterprises Posted: 22 Jul 2010 08:07 PM PDT 
The Bombay Stock Exchange will start a separate platform for the small and medium-size (SME) enterprises by the year-end, a top bourse official said today. "We are awaiting Sebi approval. I am hopeful that in 3-6 months we will... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| RBI likely to hike its policy rates by up to one percentage this year: Royal Bank of Scotland Posted: 22 Jul 2010 07:57 PM PDT 
Foreign lender Royal Bank of Scotland on Thursday said RBI is likely to hike its policy rates by up to one percentage point this year even as the headline inflation is likely to fall to 6-7 per cent on the back of a good monsoon. According to RBS... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| FM wants taxation regime to be simple and broad-based leading to lowering of tax rates, better tax compliance and reduced litigation Posted: 22 Jul 2010 07:45 PM PDT 
FM Wants New Tax Regime Which is Simple and Broad Based Leading to Lowering of Tax Rates, Better Tax Compliance and Reduced Litigation: Looking forward to Constructive Suggestions from Empowered Committee of State FMS on GST to set-up an Innovative... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| ICAI Convocation for the newly enrolled Members for the period from September, 2009 to February, 2010 Posted: 22 Jul 2010 07:38 PM PDT 
The Convocation for the newly enrolled Members for the period from September, 2009 to February, 2010 will be held as per schedule given below with a view to inculcate a sense of belongingness and attachment with the Institute. [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| Customs Circular No 20/2010, 22-07-2010, Regarding provision of single factory stuffing permission valid for all Customs Houses Posted: 22 Jul 2010 07:12 PM PDT 
The Task Force of the Department of Commerce to reduce transaction cost involved in exports has recommended the grant of a single factory stuffing permission valid for all the customs stations instead of customs station wise permission. This... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| Circular on Clean Energy Cess Posted: 22 Jul 2010 07:07 PM PDT 
It may kindly be recalled that as part of the proposals contained in the Budget for 2010-11, Finance Minister had announced the imposition of Clean Energy Cess as a duty of excise on coal, lignite and peat. This cess is to come into force on a date... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| Continuation of tax sops for SEZ under DTC regime, commerce department suggests 'middle of the road' solution Posted: 22 Jul 2010 06:53 PM PDT 
The commerce department has sought a 'middle of the road' solution to the taxation problems thrown up by the draft direct taxes code for special economic zone that enjoy substantial tax concession. In a letter to the revenue department, the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| Jobless US Posted: 22 Jul 2010 06:22 PM PDT 
The global powerful financial houses and banking giants needs a chemical to wash their foresight about the world economic recovery and GDP growth numbers projected by them in the last term. The International Monetary Fund (IMF) lifted China's GDP... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| Center Proposes 3 tier GST Rate Structure, Compensation to States for revenue Loss ; Consensus emerging on GST structure Posted: 22 Jul 2010 06:13 PM PDT 
Finance Minister Pranab Mukherjee today proposed a three-rate structure for the Goods and Services Tax -which will simplify the indirect tax regime - under which goods will attract 20 per cent levy, services 16 per cent and essential items a... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| If brokerage offered to tax, the principal debt qualifies as a "bad debt" u/s 36(1)(vii) r.w.s. 36(2) Posted: 21 Jul 2010 08:10 PM PDT 
The assessee, a broker, claimed deduction for bad debts in respect of shares purchased by him for his clients. The AO rejected the claim though the CIT (A) upheld it. On appeal by the Revenue, the matter was referred to the Special Bench. Before the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
