Fw: TaxGuru : “Empanelment for migration audit of Neelachal Gramya Bank CBS system” plus 11 more

Empanelment for migration audit of Neelachal Gramya Bank CBS system Posted: 05 Jan 2012 08:00 PM PST Proposals are invited from interested CA firms for migration audit of Neelachal Gramya Bank CBS system. The details of the scope, terms and conditions of this migration audit is as under. [[ This is a content summary only. Visit www.taxguru.in for full article.]] Joint Development Agreement – If Developer has performed or willing to perform his part of the contract, then the transaction would qualify as 'transfer' Posted: 05 Jan 2012 07:01 PM PST Shri Suresh Kumar D. Shah v. DCIT (ITAT Hyderabad)- It is held that in a Joint Development Agreement if the Developer has performed or is willing to perform his part of the contract, then the transaction would qualify as a 'transfer' under section... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Amount Received for Contract work but not disclosed can not be added fully to income Posted: 05 Jan 2012 04:49 PM PST ITO Vs M/s. St. Joseph Construction (ITAT Kolkata) - Ld. CIT(Appeals) after considering the assessee's submissions directed the Assessing Officer to reject the books of accounts of the assessee-firm since the assessee had concealed huge... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Rs 135 crore tax income tax notice on IAS couple for alleged tax evasion Posted: 05 Jan 2012 04:26 PM PST The Income Tax department has slapped a Rs 135-crore demand notice on Madhya Pradesh cadre IAS couple Arvind and Tinu Joshi for alleged tax evasion. The department had conducted searches in Bhopal and other premises of the 1979-batch couple during... [[ This is a content summary only. Visit www.taxguru.in for full article.]] SEBI launches India's first KYC Registration Agency Posted: 05 Jan 2012 06:34 AM PST Capital markets regulator Securities and Exchange Board of India, SEBI, has launched India's first Know Your Customer Registration Agency - KRA. SEBI's Chairman, Mr. U.K. Sinha launched the service at Bombay Stock Exchange on Wednesday. [[ This is a content summary only. Visit www.taxguru.in for full article.]] Income Tax Arrear Letter from CPC Bangalore just a communication of demand not a demand notice, No need to respond to tax notices for below Rs 100 Posted: 05 Jan 2012 06:33 AM PST It has been reported in some sections of the press that the Central Processing Centre , Bangalore is sending notices for payment of taxes which are as small as Rs. 1/- , 4/- , 6/-, causing unnecessary hardship to assesses . It has been stated... [[ This is a content summary only. Visit www.taxguru.in for full article.]] ICAI announces Amnesty For Retrospective Restoration of Names From Register of Members and Certificate of Practice Posted: 05 Jan 2012 06:22 AM PST With a view to mitigating the hardships being faced by such members whose names stand removed as on date due to non-payment of membership fee, the Council has decided to give them an opportunity by way of General Amnesty for restoration of their... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Regarding refund of 4% Additional Duty of Customs (4% CVD) in terms of Notification No. 102/2007-Customs dated 14.09.2001 Posted: 05 Jan 2012 05:53 AM PST Circular No 01/ 2012-Customs, Your kind attention is invited to the Circular No. 18/2010-Customs dated 8th July, 2010), vide which Board has simplified procedure for sanction of refund of 4% SAD in case of ACP importers. Vide Para 4.1 (d) of the... [[ This is a content summary only. Visit www.taxguru.in for full article.]] How to Draft Appeal and Procedure in Income Tax Appeals before CIT (Appeals) and ITAT Posted: 04 Jan 2012 09:45 PM PST The Income-tax Rules, 1962 ( the Rules) only provides that an appeal to the Commissioner (Appeals) shall be made in Form No. 35 and that the form of verification shall be signed and verified by the person who is authorised to sign the return of... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Enforcement Directorate asks IT Dept to provide it with I-T returns and other financial statement of secret LGT Bank Account holders Posted: 04 Jan 2012 09:25 PM PST Stepping up its offensive against Indians whose names figured in secret LGT Bank accounts abroad, the Enforcement Directorate (ED) has approached the Income Tax department to provide it with I-T returns and other financial statements of these... [[ This is a content summary only. Visit www.taxguru.in for full article.]] External Commercial Borrowings (ECB) – RBI raises Foreign Currency Convertible Bonds limit to $750 mn Posted: 04 Jan 2012 08:22 PM PST A. P. (DIR Series) Circular No.64 RBI today raised the annual limit of Foreign Currency Convertible Bonds (FCCBs) for companies to USD 750 million under the automatic route, which does not require prior permission from it. Corporates in specified... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Implementation of Section 51-A of UPA, 1967 – Updates of the UNSCR 1267 (1999) and 1989 (2011) – RPCD.CO RRB.AML.No. 6723 /03.05.28(A)/2011-12 Posted: 04 Jan 2012 08:10 PM PST RRBs are required to update the list of individuals/entities as circulated by the Reserve Bank and before opening any new account, it should be ensured that the name/s of the proposed customer does not appear in the list. Further, RRBs should scan... [[ This is a content summary only. Visit www.taxguru.in for full article.]]