| Operators May Miss Unsolicited Calls Deadline Posted: 31 Jan 2011 01:25 AM PST 
Mobile subscribers looking for respite from unsolicited calls may have to wait for some more time as operators are facing technical difficulties in implementing system mandated by TRAI to check pesky calls nbsp With telemarketers m [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Banks To Impose Penalty On Premature Closure Of FDs Posted: 31 Jan 2011 01:14 AM PST 
Next time you wish to cash in your fixed deposits be ready to pay a penalty of as much as one per cent of the investment if money is withdrawn before completion of the maturity period nbsp In a bid to discourage premature with [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Black Money - FinMin Panel On Voluntary Compliance Posted: 31 Jan 2011 01:12 AM PST 
Amid the growing clamour to crack down on generation of black money the Finance Ministry has instituted a study group to improve voluntary compliance by suggesting appropriate measures to motivate tax evaders to disclose their un [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| India Not To Rush Into Allowing FDI In Retail - Official Posted: 31 Jan 2011 01:10 AM PST 
nbsp In a clear message to global retail giants like Walmart Tesco and Carrfoure the Indian government today said it will not rush into allowing FDI into politically sensitive multi-brand retail sector nbsp Until a decision is [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| CBI Files Case Against Biotor Industries For Fraud Posted: 31 Jan 2011 01:08 AM PST 
The CBI has registered a case of cheating and fraud against directors nbsp of Biotor Industries manufacturer of castor oil for allegedly nbsp submitting forged documents to three banks and availing a loan of nbsp Rs1500 crore [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Treat Corp Funding To Political Parties As Expense- ICAI Posted: 30 Jan 2011 02:46 PM PST 
Corporate funding to political parties should be treated as expenditure in order to increase transparency in financial statements and curb black money flow Accounting regulator ICAI has said nbsp nbsp It also added that Compan [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| ICAI To Submit Report On Accounting Frauds Posted: 30 Jan 2011 02:36 PM PST 
The Institute of Chartered Accountants of India ICAI will submit its report against unethical practices by big four auditing and consulting firms Ernst amp Young KPMG Price Waterhouse Coopers and Deloitte Sells and Heskins [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| UK Minister Has Serious Concerns Over Big Four S Audit Dominance Posted: 30 Jan 2011 02:35 PM PST 
THE GOVERNMENT S employment minister has serious concerns over a lack of competition in the audit market and has urged company audit committees and shareholders to encourage companies to use accountants outside the Big Four firms [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| CCIT Personally Responsible For Timely Filing Of Appeals - CBDT Chairman Posted: 30 Jan 2011 01:49 PM PST 
SUDHIR CHANDRA IRSChairman nbsp Central Board of Direct Taxes Government of India Ministry of Finance North Block New Delhi 28th Jan 2011My dear Chief Commissioner Sub Delay in filing SLPs Appeals before the High Courts [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Income Tax Officials To Raid Katrina Kaif S Bank Locker Posted: 30 Jan 2011 01:44 PM PST 
Bollywood actresses Katrina Kaif and Priyanka will face more troubles as the IT department officials all set to raid their bank lockers Sources reported that officials will continue investigation on tax recordes of these actress [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| PayPal Follows RBI To Restrict E-payment To Indian Merchants Posted: 30 Jan 2011 10:57 AM PST 
WASHINGTON Online payment service PayPal on Friday announced changes in its payment to Indian transactions following the guidelines issued by the Reserve Bank of India on requirements for governing the processing and settlement of ex [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Banks To Impose Penalty On Premature Closure Of FDs Posted: 30 Jan 2011 10:55 AM PST 
Next time you wish to cash in your fixed deposits be ready to pay a penalty of as much as one per cent of the investment if money is withdrawn before completion of the maturity period In a bid to discourage premature withdrawal of m [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Government Of India Issues Revised Guidelines On Conference Visa Posted: 30 Jan 2011 03:21 PM PST 
Background - The Indian immigration laws provide for grant of a special type of visa known as conference visa to foreign nationals who intend to visit India for attending a conference seminar or workshop The Ministry of Hom [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Outsourced Clinical Trial Expenditure Is Not Eligible For Weighted Research And Development Deduction Posted: 30 Jan 2011 03:18 PM PST 
Recently the Mumbai bench of the Income-tax Appellate Tribunal the Tribunal in the case of Concept Pharmaceuticals Ltd v ACIT ITA No 1739 M 2009 1034 M 2009 Judgement Date 19 November 2010 Assessment Year 2005-06 held th [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Software Industry Will The New Notifications Reignite The Controversy Posted: 30 Jan 2011 03:15 PM PST 
Recently the government issued fresh set of notifications rescinding the earlier ones which granted exemption from payment of Service tax on canned packaged software if Excise duty Customs duty CVD was paid Similar set of ex [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Withholding Tax Not Required On Payment To Non-resident Agents Of Artists In Absence Of A Permanent Establishment Posted: 30 Jan 2011 03:04 PM PST 
Withholding tax not required on payment to non-resident agents of artists in absence of a permanent establishment nbsp In a recent ruling the Mumbai Income-tax Appellate Tribunal the Tribunal in the case of Wizcraft Intern [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Setting-off Of Sundry Debtors Against Sundry Creditors And Applicability Of TDS On Payment For Use Of Computer System To Posted: 30 Jan 2011 03:02 PM PST 
Setting-off of sundry debtors against sundry creditors by a collection agent is not a remission of liability withholding tax not applicable to payment for use of computer system to track freight shipments nbsp In brief a nb [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Prepayment Of Sales Tax Deferral Loan On Payment Of Net Present Value Of Future Liability Cannot Be Classified As Remiss Posted: 30 Jan 2011 02:56 PM PST 
Prepayment of sales tax deferral loan on payment of net present value of future liability cannot be classified as remission or cessation of trading liability nbsp In brief -In a recent ruling in the case of Sulzer India Ltd [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Applicability Of Limitation On Deduction Of Expenses U S 44D On Consideration Other Then Fees For Technical Services Posted: 30 Jan 2011 02:52 PM PST 
Limitation on deduction of expenses under Section 44D of the Act cannot be invoked if the consideration received by the foreign company is not Fees for Technical Services as defined in India-USA tax treaty nbsp Delhi bench of th [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Order Of The Court Approving Amalgamation Is A Conveyance And An Instrument On Which Stamp Duty Is Payable Posted: 30 Jan 2011 02:24 PM PST 
Order of the Court approving amalgamation is a conveyance and an instrument on which stamp duty is payableThe Delhi High Court has inter alia held in the case of nbsp Delhi Towers Ltd V G N C T of nbsp Delhi nbsp 2010 [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Analysis Of Amendments To SEBI Issue Of Capital And Disclosure Requirements Regulations 2009 ICDR Regulation Posted: 30 Jan 2011 02:13 PM PST 
SEBI has 12 November 2010 amended ICDR Regulation The salient features of the amendments are inter alia as under nbsp Definition of Qualified institutional buyer and Retail individual investor nbsp nbsp n [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Regulatory Framework Governing Core Investment Companies Issued By RBI- An Analysis Posted: 30 Jan 2011 02:09 PM PST 
Introduction -A Non-Banking Financial Company NBFC is a company registered under the Companies Act 1956 and is engaged in the business of loans and advances acquisition of shares stock bonds debentures securities issued [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Goodwill Paid For Commercial Rights In The Form Of Knowhow Technical Information Etc Are Eligible For Depreciation Posted: 30 Jan 2011 02:04 PM PST 
HINDUSTAN nbsp COCA COLA BEVERAGES PVT LTD ITA Nos 1391 2010 1394 2010 amp 1396 2010 dated 14 January 2011- Del HC Facts nbsp nbsp nbsp nbsp nbsp nbsp nbsp The taxpayer is engaged in the business of manufacturing a [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Outstanding Receivables From International Transactions Held To Be Within The Jurisdiction Of TPO Posted: 30 Jan 2011 01:59 PM PST 
Outstanding receivables from international transactions held to be within the jurisdiction of TPO receivables if not brought back in time form part of TP analysis for calculation of potential interest loss nbsp In brief -In [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| VAT Implications On Intra State Stock Transfer Life After Delhi High Court Decision In Havell S And ITC Posted: 30 Jan 2011 11:20 AM PST 
Background nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp Stock transfers to a branch or consignee have been the norms of trade in both pre and post VAT regime Further Stock Transfer can be both inter-state and intra-state [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Right Of Nominee To The Exclusion Of Others Posted: 30 Jan 2011 02:32 PM PST 
Mr X held certain shares in dematerialized account with a depository Mr X executed nomination in the prescribed form following the prescribed procedures in favor of his nephew Mr Y Upon the demise Mr X wife of Mr X say Mrs [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Contract For Sale Of Moveable Property Amounts To Conveyance And Is Subject To Stamp Duty Posted: 30 Jan 2011 02:19 PM PST 
The Supreme Court in view of the facts of the matter analyzed the Sale of Goods Act 1930 SGA and ISA and held that the true and real meaning of a document needs to be ascertained to answer whether a contract for sale of movable pro [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| VAT Implications On Intra State Stock Transfer Life After Delhi High Court Decision In Havell S And ITC Posted: 29 Jan 2011 05:45 PM PST 
VAT implications on Intra State Stock Transfer Life after Delhi High court decision in Havell s and ITC [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
