I-T dept invites Suggestions for prescribing a proforma for obtaining information relating to Transfer Pricing

I-T dept invites Suggestions for prescribing a proforma for obtaining information relating to Transfer Pricing Posted: 21 Nov 2011 08:04 PM PST Information on tax matters is being sought by field officers of the Income Tax Department from countries/jurisdictions with which India has Double Taxation Avoidance Agreement (DTAA) or Tax Information Exchange Agreement (TIEA) under the relevant... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Black money – I-T to get Rs. 80 crore tax as tax from 22 individuals holding accounts and stashing funds in the foreign bank Posted: 21 Nov 2011 07:39 PM PST Over a score of black money hoarders in the capital, most of them businessmen, will pay Rs80 crore as taxes to the Income Tax department on undisclosed income of about Rs500 crore following searches made across the city on the basis of a classified... [[ This is a content summary only. Visit www.taxguru.in for full article ]] IRDA issues Guidelines and Eligibility Criteris for Display of insurance Product on Websites Posted: 21 Nov 2011 07:26 PM PST 1. Web aggregator shall display the particulars of validity of approval obtained from the Authority on its web site. 2. Web aggregator shall state clearly and unequivocally that insurance is the subject matter of solicitation. 3. At no... [[ This is a content summary only. Visit www.taxguru.in for full article ]] For under Construction Flat Purchased from Builder date of allotment crucial for calculating Capital Gain and deciding Long Term or Short Term Posted: 21 Nov 2011 07:13 PM PST Now, coming to the  question, which relates to the date from which the indexed cost of acquisition is to be computed. Here, it has been the case of the assessee that on the date of allotment of flat, the property was identified. The assessee got the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Powers of CIT (Appeal) to admit Additional Evidence u/s 250(4) and Rule 46A and the requirement to give A.O. an opportunity Posted: 21 Nov 2011 06:28 PM PST CIT vs. Manish Build Well Pvt Ltd (Delhi High Court)-In the present case, the CIT (A) has observed that the additional evidence should be admitted because the assessee was prevented by adducing them before the assessing officer. This observation... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Government's policy paralysis in last year has added to the cyclical slowdown – CLSA Posted: 21 Nov 2011 05:47 PM PST After corporate leaders, leading foreign investors, rating agencies and research firms have raised the red flag over the notion about 'policy paralysis' and a slow pace of economic reforms in the country. Asserting that factors like a slow... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Income Tax strike hits survey operations Posted: 21 Nov 2011 05:42 PM PST The crucial survey operations conducted by the Income Tax department to detect tax evasion have been severely hit due to a long drawn employees agitation in the national capital. I-T employees and officials, except those of the Indian Revenue... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Download Free XBRL Software Posted: 21 Nov 2011 05:35 PM PST We recently come through a company which providing free software for creation XBRL file. While in Market all companies are charging from Six thousand to thirty Thousand for one year for the software. Software Name is 'Apex Xbrl Maker Free Edition'... [[ This is a content summary only. Visit www.taxguru.in for full article ]] State Has First Charge over Secured Assets despite Overriding Provision in DRT Act and Securitisation Act Posted: 21 Nov 2011 05:21 PM PST If the provisions of the DRT Act and Securitisation Act are interpreted keeping in view the background and context in which these legislations were enacted and the purpose sought to be achieved by their enactment, it becomes clear that the two... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Download Calculator for Emi, ROC Fees, NSC, KVP, Post Office R.D. Interest, TDS, Income Tax, Service Tax, VAT, Custom Duty, HRA, Home Loan, TDS on Salary, Wealth Tax, 234ABC Interest and other useful calculators Posted: 21 Nov 2011 03:50 PM PST Download Emi Calculator, ROC Fees Calculator, NSC Interest Calculator, KVP Interest Calculator, Post Office R.D. Interest Calculator, TDS Calculator For A.Y. 2009-10 &n 2010-11 , Income Tax Calculator For A.Y. 2009-10 & 2010-11, Short Term... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Banks would be allowed to act as sponsors to Infrastructure Debt Funds (IDF)-MFs and IDF-NBFCs Posted: 21 Nov 2011 03:11 PM PST A bank acting as sponsor of IDF–NBFC shall contribute a minimum equity of 30 per cent and maximum equity of 49 per cent of the IDF-NBFC. Since in terms of Section 19 (2) of the Banking Regulation Act, 1949, a bank cannot hold shares in excess of 30... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Infrastructure Debt Funds (IDFs) – Eligibility Parameters for NBFCs as Sponsors of IDF-MFs Posted: 21 Nov 2011 03:05 PM PST The Finance Minister had in his budget speech for the year 2011-2012 announced the setting up of Infrastructure Debt Funds (IDFs), to facilitate the flow of long-term debt into infrastructure projects. The IDF will be set up either as a trust or as... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Rupee touches new low of 52.15 per dollar, Sensex Falls 425 Points Posted: 21 Nov 2011 06:31 AM PST At the inter-bank foreign exchange market, the rupee sank 81 paise, to a over 32-month closing low of 52.15 against the dollar. The rupee fell on sustained dollar demand, and as domestic equities tumbled. The rupee has lost over 4 percent against... [[ This is a content summary only. Visit www.taxguru.in for full article ]]