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TaxGuru.in : Legal & Tax Updates 24.01.2011

Posted by kanoisandeep | Sunday, January 23, 2011

TaxGuru.in : Legal & Tax Updates

Link to LEGAL & FINANCIAL  UPDATES FROM TAX GURU

Now Get Refund On All Air Tickets Cancelled Two Hours Prior To The Flight Departure

Posted: 23 Jan 2011 12:25 PM PST


In a big relief to air travellers domestic airlines have agreed to refund passengers all costs barring the base fare if a non-refundable ticket is cancelled nbsp However passengers can avail this facility only if they cancel thei

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Forthcoming Changes In ETDS Filing

Posted: 23 Jan 2011 10:40 AM PST


In a meeting with Software Vendors on nbsp Jan 21 1011 nbsp NSDL has outlined the following changes in eTDS Statement filing for the Fourth Quarter filing Mandatory Mobile Number It will be mandatory for responsible person

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Housing Prices May Fall By Up To 20 Per Cent In Mumbai And Delhi-NCR In Next 6-8 Months

Posted: 23 Jan 2011 09:56 AM PST


Housing prices could fall by up to 20 per cent in Mumbai and Delhi-NCR sooner than expected if RBI raises key rates in its upcoming monetary policy review says a report by property consultant Jones Lang LaSalle nbsp An increa

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High Food Inflation Effect- RBI May Raise Policy Rates By Up To 50 Basis Points

Posted: 23 Jan 2011 09:53 AM PST


High food inflation is most likely to weigh on the Reserve Bank which is widely expected to raise key policy rates by at least 25 basis points in its monetary review due on Tuesday top bankers said nbsp Conventional wisdom says

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Wholly-owned Subsidiaries WOS Will Raise Tax Liability Of Foreign Banks

Posted: 23 Jan 2011 09:52 AM PST


Tax liabilities of foreign banks will rise marginally if the Reserve Bank makes it mandatory for them to conduct their operations in the country through wholly-owned subsidiaries WOS rather than a branch model experts said today

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DGFT S New Cotton Export License Policy For Transparency

Posted: 23 Jan 2011 09:48 AM PST


The Director General of Foreign Trade DGFT has not included prior experience as a pre-condition for people seeking cotton export permit to keep the licensing policy simple and transparent nbsp When we invited applications w

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Unique Code Nos To CAs Check Fraudulent Practices

Posted: 23 Jan 2011 09:44 AM PST


The Institute of Chartered Accountants of India will introduce unique code numbers UCD from next month for Chartered Accountants CAs to help them check increasing incidents of fraudulent practices including forged attestations

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Black Money - Liechtenstein Rejects Help To India

Posted: 23 Jan 2011 09:42 AM PST


Liechtenstein has declined help in India s quest for suspected black money trail to the small but rich European country bordering Switzerland citing absence of a bilateral treaty for such information exchange nbsp nbsp The India

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Sachin Tendulkar Is Coke S Happiness Ambassador

Posted: 23 Jan 2011 09:38 AM PST


Master Blaster Sachin Tendulkar will now endorse the softdrinks giant Coca Cola after the company today announced signing the master blaster as its Happiness Ambassador nbsp We are extremely pleased to have Sachin on board a

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IT Department S Website Vulnerable To Malicious Attacks- NTRO

Posted: 23 Jan 2011 09:10 AM PST


The National Technical Research Organisation NTRO has warned that individual Income Tax records can be accessed in an unauthorised manner by outsiders via cyber attacks nbsp Through a letter dated January 17 the NTRO alerted the

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Analysis Of CA Final Exams Held In Nov-2010 And CPT Paper-pencil Mode Held On 19th Dec-2010- Toppers Pass Percent Etc

Posted: 23 Jan 2011 08:42 AM PST


January 21 2011 nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp PRESS RELEASE The Institute of Chartered Accountants of India ICAI today announced the results of Final and Final New Examination held in November-2010 and Co

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Two Income Tax Officials Held For Accepting Rs 4 000 Bribe

Posted: 23 Jan 2011 08:32 AM PST


Mumbai- The Anti-Corruption Bureau of CBI has arrested two Income Tax officials for allegedly accepting a bribe of Rs 4 000 for processing tax refund claims nbsp Senior tax assistant Sudarshan Kale and tax assistant Sunil Gangurde n

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Bonus Stripping - The Way To Save Tax

Posted: 23 Jan 2011 12:06 PM PST


In bonus stripping investors buy shares of companies which have announced bonus issues and subsequently sell the original holding at a loss once the stock becomes ex-bonus This loss can be adjusted against their capital gains on

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Cause Of Action And Limitation To File A Petition Under Section 397 398 Of Companies Act 1956

Posted: 22 Jan 2011 04:13 AM PST


No lis lies when there is no live claim or the cause of action and it is settled legal principle The requirement of having a live claim for seeking relief is also been highlighted by the Hon ble Apex Court while dealing with the sco

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Prosecution - Validation Of Provisions Of Chapter XXC - Compulsory Purchase By Central Government - Section 269UA - Extension Of Lease Period

Posted: 24 Jan 2011 12:35 AM PST


Appellants filed writ petition before the High Court for quashing the aforesaid order dated 24th April 2001 of the appropriate authority rejecting their show cause and deciding to file criminal complaint However since the prosecutio

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Delay In Filing Of Return Should Not Be A Reason To Deny The Assessee S Claim Of Exemption U S 10B 1

Posted: 23 Jan 2011 06:24 AM PST


Exemption under section 10B-Availability-Return not filed by due date-Proviso to section 10B 1 which provides that no exemption under section 10B shall be allowed if return is not furnished by due date prescribed under section 139 1

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Valuation Of Physician Samples Manufactured And Distributed As Free Samples Under Central Excise Valuation Rules 1975

Posted: 21 Jan 2011 06:22 AM PST


Whether Physician samples manufactured and distributed as free samples have to be assessed on the basis of cost of manufacture plus normal profits if any earned on the sale under Rule 6 b ii of the Central Excise Valuation Rules

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Custom Duty- Amends Notification No 36 2001 Customs N T Dated The 3rd August 2001

Posted: 23 Jan 2011 10:30 AM PST


Notification No 1 2011- Customs N T nbsp nbsp New Delhi 14th January 2011 S O E In exercise of the powers conferred by sub-section 2 of section 14 of the Customs Act 1962 52 of 1962 the Board being satis

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Served From India Scheme SFIS Review Thereof- DGFT Notification No 17 RE-2010 2009-2014

Posted: 23 Jan 2011 10:16 AM PST


Notification No nbsp nbsp 17 RE-2010 2009-2014 New Delhi the 18th January 2011 nbsp Subject nbsp Served From India Scheme SFIS Review thereof nbsp S O E In exercise of the powers conferred by Section 5 of t

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Appendix 41 - List Of Services Eligible For Benefits Under Served From India Scheme SFIS

Posted: 23 Jan 2011 10:12 AM PST


DGFT Public Notice No nbsp 25 RE 2010 2009-2014 Dated the nbsp nbsp 18th January 2011 nbsp Subject nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp Appendix 41 - List of Services eligible for benefits und

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NOTIFICATION NO 04 2011- Scientific Research Expenditure - International Advanced Research Centre For Power Metallurgy And New Materials ARC-International Hyderabad Get Approval Under Section 35 1 Iii

Posted: 23 Jan 2011 09:59 AM PST


Section 35 1 ii of the Income-tax Act 1961 - Scientific research expenditure - Approved scientific research associations institutions NOTIFICATION NO 04 2011 F NO 203 27 2010 IT A-II DATED 19-1-2011 It is hereb

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CA Final New Syllabus Examination November-2010 Region Wise Statistics

Posted: 23 Jan 2011 02:18 AM PST


CA Final New Syllabus Examination November-2010 Region Wise Statistics

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CA FINAL EXAMINATION NOVEMBER-2010 REGION WISE STATISTICS

Posted: 23 Jan 2011 01:59 AM PST


FINAL EXAMINATION NOVEMBER-2010 REGION WISE STATISTICS

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Goods Service Tax - Issues Concerns And Challenges

Posted: 23 Jan 2011 01:37 AM PST


Goods Service Tax - Issues concerns and challenges affecting a key and landmark initiative which will change the entire framework of indirect taxes regime

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UPDATES FROM TAXGURU