| | Continuing Prof. Edu. RSS Feeds |
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 ISSUES IN COMPLIANCE OF ACCOUNTING STANDARDS
By CA Devender Singh
Place: P. BRAHMAYYA MEMORIAL HALL, BRANCH PREMISES
Date: 21st May, 2012 17:30 AM - 20:30 PM
CPE.Hrs.: 3
| Direct Tax Implications arising out of Business Reorganization
By CA Nilesh Sahu
Place: Conference Hall,2nd Floor, Thakur Polytechnic College, 90 feet. Road, Near Nirmala College, Thakur Complex, Kandivli (E),Mumbai – 400101.
Date: 20th May, 2012 09:15 AM - 11:15 PM
CPE.Hrs.: 4
| CPE Seminar on Service Tax & International Taxation
By CA Atul Gupta
Ppace: ICAI Bhawan, G Block, Sector 14, Near CA Circle, Udaipur
Date: 19th May, 2012 16:30 AM - 18:30 PM
CPE.Hrs.: 4
| CPE SEMINAR ON INCOME TAX - TDS AND SERVICE TAX
By CA Mayank Jain
Place: ICAI BHAWAN, No.8, Second Main Road, Illango Nagar, PONDICHERRY - 605 011
Date: 19th May, 2012 10:00 AM - 11:30 PM
CPE.Hrs.: 6
| FINANCE ACT, 2012 / FINANCE BILL, 2012 – IMPLICATIONS OF AMENDMENTS IN SERVICE TAX INCLUDING CENVAT
By CA Ojas Aggarwal
Place: Keshavrao Ghaisas Auditorium, Ground Floor, PTVA\\\'s Inst. of Management Compound, Chitrakar Ketkar Marg, Vile Parle East, Mumbai 400 057.
Date: 19th May, 2012 17:00 AM - 21:00 PM
CPE.Hrs.: 4
| TAXATION - Foreign Payments – TDS u / s 195 of the Income Tax Act, 1961
By CA Atul Gupta
Place: Hotel Kanak, opp. Gujarat College, Ellisbridge, Ahmedabad - 380 006
Date: 19th May, 2012
CPE.Hrs.: 3
| One Day Conference on Direct Tax
By CA Nilesh Sahu
Place: ICAI Bhawan, Mettupalayam Road, Opp. Union Bank of India, Thudiyalur, Coimbatore-34.
Date: 18th May, 2012 10:00 AM - 11:45 PM
CPE.Hrs.: 6
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Cut VAT on CNG: Striking autorickshaw drivers to govt 
By CA Andrew F Thomas
Over 100,000 autorickshaw drivers in Ahmedabad remained off road on Friday as part of a symbolic one day protest against frequent rise in CNG prices, which has increased by 42 per cent in last one year, and demanded that VAT on the commodity be decrease or removed.
| Staff shortage may dent Tamil Nadu's tax kitty: Comptroller and Auditor General
By CA Rashmi Sharma
A shortage of staff in the commercial taxes department has slowed down clearing of value added tax (VAT) assessments in Tamil Nadu, which is likely to adversely affect the state's tax collection,
| Volkswagen puts on hold Rs 2,000 cr investment due to VAT refund issue
By CA Andrew F Thomas
German auto major Volkswagen AG said it has put on hold the proposed Rs 2,000 crore investment plan in India as the VAT refund issue with the Maharashtra government remains unresolved.
| Punjab VAT collection up 13.5% in 2011-12
By CA Atul Gupta
Value added tax collection in Punjab rose by 13.5% to Rs 12,200 crore in 2011-12, over the year-ago period.
| ASSOCHAM wants MP to abolish 4pc VAT levied on traders,pvt cos
By CA Mayank Jain
The ASSOCHAM here today requested Madhya Pradesh to abolish four per cent VAT levied on traders and private companies with a turnover of more than Rs five crore on wheat in view of the various problems being faced by farmers and the state government.
| Pranab wants austerity: What other countries are doing
By CA Manu T George
Finance minister Pranab Mukherjee on Wednesday told the Parliament that the government will issue some austerity measures to aid the fiscal consolidation process.
| Rajouri Garden's marble market in West Delhi blames higher VAT, poor infrastructure for downslide
By CA Ojas Aggarwal
Business is not so smooth at Rajouri Garden's marble market - the biggest in the capital - which is losing out its business to Rajasthan. Prime reasons are comparatively higher value added tax (VAT) in Delhi and deteriorating infrastructure which aggravated the problem for the traders.
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| | Markets RSS Feeds |
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FIIs will quit Indian markets if swords of GAAR, indirect transfer rules hang over their heads
By CA S K Verma
International financial services industry representatives continue to work with government officials to try and resolve significant issues related to the impact of the proposed Finance Bill, 2012, on the Indian capital markets.
| Markets end session on a firm note
By CA Manu T George
The markets trimmed gains but continued to witness positive trades in afternoon deals, buoyed by index heavy-weight RIL, Consumer Durables, Capital Goods and Metal shares. The BSE Sensex is at 17,604, up 126 points and the Nifty at 5,358, up 40 points.
| Asian markets rally, small savings rates hiked and more
By CA S K Verma
Asian markets rose on Tuesday as they reversed a two-day losing streak. The MSCI Asia Pacific index and the Japanese Nikkei index rose 1 per cent each as weak Asian currencies benefit export oriented Asian economies.
| Market in the absence of volume is having a telling effect: CK Narayan
By CA Andrew F Thomas
I would suspect that. The index had traded down into this zone yesterday. It has of course given up the gains in the morning but it is trading down into the same levels and what we are finding is rather woeful lack of volumes
| Market to rally but no reforms seen in Budget says IL&FS
By CA Nilesh Sahu
Though not much is expected from this year's Budget, the market is still hoping for the rally to continue.
| Don't ignore tax-saving mutual funds in a beaten-down equity market
By CA Atul Gupta
Investors are shunning equity-linked savings schemes (ELSS), or tax-saving mutual fund schemes, this tax planning season,
| Congress good performance may boost markets, states a study
By CA Nilesh Sahu
Any political formation after the polls in UP where the Congress party forges an alliance to form a new government will improve the Congress party's ability to push for policy decisions and reforms at the Centre and in turn will create a positive market sentiment,
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| | General RSS Feeds |
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'Altered' DTC Bill likely in monsoon session, says Pranab Mukherjee
By CA S K Verma
The government will bring the Direct Taxes Code (DTC) Bill in the monsoon session of Parliament and has indicated that most of the recommendations of the standing committee will be accepted, raising hope that the legislation that seeks to overhaul the 50-year old income-tax law may be passed quickly.
| Lawyers' bandh shuts down western Odisha
By CA Rashmi Sharma
The 12-hour lawyers' bandh threw life out of gear in western Odisha on Tuesday. While government offices, courts, business establishment, banks and other financial institutions remained closed,
| GAAR may be thrown open to public debate
By CA Manu T George
Chairman of BMR Advisors Mukesh Butani believes that the government will throw general anti-avoidance rules (GAAR) open to public debate during the one year extension that was announced by Finance Minister Pranab Mukherjee today.
| GAAR application deferred by a year, amendments to provisions announced
By CA Andrew F Thomas
After weeks of protest by both foreign and Indian investors, FM Pranab Mukherjee on Monday announced that the General Anti-Avoidance Rules (GAAR) will be applied from 2013-14 onwards, deferring its application by a year.
| Investor awareness programme in Mangalore
By CA Ojas Aggarwal
The Institute of Chartered Accountants of India (ICAI), Mangalore branch, has organized an investor awareness programme on share market.
| CBDT in soup for bypassing House
By CA Manu T George
The Comptroller and Auditor General (CAG) has raised concern about the Central Board of Direct Taxes (CBDT) incurring expenditure to the tune of Rs 37,000 crore over the last five years without taking approval of Parliament.
| TN seeks compensation till GST is introduced
By CA Devender Singh
Tamil Nadu has asked the Government of India to provide compensation till Goods and Service Tax (GST) was introduced as the revenue loss suffered by states was substantial and permanent.
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| | Corporate Law RSS Feeds |
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Will tax laws ever be simplified?
By CA Ojas Aggarwal
Various finance ministers in India have from time to time expressed their desire to simplify the income-tax law. The Direct Taxes Code (DTC) was also originally meant to simplify tax laws, but will probably end up complicating the law even more.
| Workshop on Capacity Building of Practitioners & CA Firms
By CA S K Verma
Place: ICAI Bhawan, Vishnu Vihar, Opp. Surendra Nagar, Jansath Road, Muzaffarnagar (U.P.)
Date: 5th Feb, 2012
CPE.Hrs.: 4
| INCOME TAX APPELLATE TRIBUNAL CHENNAI BENCHES CHENNAI Revised Constition for the week from 01/11/2011 to 03/11/2011
By CA Manu T George
INCOME TAX APPELLATE TRIBUNAL CHENNAI BENCHES CHENNAI Revised Constition for the week from 01/11/2011 to 03/11/2011
| Monthly Digest of imp case law (Sept 11)
By CA Rashmi Sharma
A person makes investment in agricultural land within limits of town panchayats, and agricultural income was shown and declared year after year. Permission was sought to develop lands.
| Show me a problem, I will write you a law
By CA Nilesh Sahu
Whether one can legitimately conduct “due diligence” into the affairs of an Indian listed company before making a substantial investment in its securities has remained a subject matter of speculation for nearly two decades now.
| Make law books error-free: Court
By CA Devender Singh
Fed up with the numerous errors in various law books that are available in the market, the judiciary has itself come forward to correct them.
| Investing in India - a guide to tax laws in India
By CA S K Verma
The Indian economy has been one of the world’s fastest growing economies in recent years, witnessing annual growth of above eight percent for the previous 12 quarters with a Gross Domestic Product of over UDS1 trillion.
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Group to examine the circular dated 12th August, 2011 of Reserve Bank of India regarding eligibility for statutory audit of private/foreign banks vis-à-vis public sector banks simultaneously
By CA Manu T George
The President, in terms of the authority given to him by the Council at its 314th meeting held from 10th to 12th February, 2012, has constituted a Group to examine the circular dated 12th August, 2011 of Reserve Bank of India regarding eligibility for statutory audit of private
| Group to examine the circular dated 12th August, 2011 of Reserve Bank of India regarding eligibility for statutory audit of private/foreign banks vis-à-vis public sector banks simultaneously and suggest the way forward for taking up the matter with the concerned authorities
By CA Rashmi Sharma
The President, in terms of the authority given to him by the Council at its 314th meeting held from 10th to 12th February, 2012, has constituted a Group to examine the circular dated 12th August, 2011 of Reserve Bank of India regarding eligibility for statutory audit of private
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| ICAI moots Centre of excellence in Capital
By CA Rashmi Sharma
The Institute of Chartered Accountants of India (ICAI) has proposed establishment of a centre of excellence in the Capital and sought 10 acres of land from the State Government.
| May 2012 Examinees from Patna - Important Announcement.
By CA Manu T George
In view of setting up of polling booth(s) in T.P.S. College, Chirraiya Tand, Patna 800 001 for election to the Patna Municipal Corporation on 17 th May, 2012, the Chartered Accountants Final Examination (Paper 8)
| Press Notice and Prequalification of Contractors.
By CA Andrew F Thomas
Press Notice and Prequalification of Contractors.
| ISA AT - June, 2012 Application Form
By CA Devender Singh
ISA AT - June, 2012 Application Form
| Certificate Course on Forex and Treasury Management - Assessment Test Result held on 05th & 12th February, 2012.
By CA Atul Gupta
Certificate Course on Forex and Treasury Management - Assessment Test Result held on 05th & 12th February, 2012.
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M/s. All Cargo Global Logistics Ltd.5th Floor, Diamond Square, C.S.T. Road, Kalina, Santacruz (E),Mumbai – 400 098.
By CA S K Verma
M/s. All Cargo Global Logistics Ltd.5th Floor, Diamond Square, C.S.T. Road, Kalina, Santacruz (E),Mumbai – 400 098. Vs. DCIT, Central Csircle-44, Aayakar Bhavan, M.K. Road, Mumbai – 400 020.
| Dy. Commissioner of Income Tax, Circle 6(1), Room No. 413, CR Building, New Delhi vs. Maharani Paints India Pvt. Ltd., TA-3/146-C, Tuglakabad Extn.,New Delhi
By CA Ojas Aggarwal
Dy. Commissioner of Income Tax, Circle 6(1), Room No. 413, CR Building, New Delhi vs. Maharani Paints India Pvt. Ltd., TA-3/146-C, Tuglakabad Extn.,New Delhi
| Income Tax Officer, Ward 38(2), Room No. 234A, 2nd floor, CR Bldg., IP Estate, New Delhi vs. Sh. Naresh Kumar Through Legal Heir Sh. Naveen Kumar, 9307, Gaushala Marg, Kishan Ganj Delhi – 110 006
By CA Atul Gupta
Income Tax Officer, Ward 38(2), Room No. 234A, 2nd floor, CR Bldg., IP Estate, New Delhi vs. Sh. Naresh Kumar Through Legal Heir Sh. Naveen Kumar, 9307, Gaushala Marg, Kishan Ganj Delhi – 110 006
| Mehru Electrical & Engg. (P) Ltd vs. CIT (Rajasthan High Court)
By CA Nilesh Sahu
The department’s appeal was adjourned at the assessee’s request to 9.02.2010 and it was made clear that it would be the “last opportunity”.
| Par nod to bill for High Courts in Meghalaya, Manipur, Tripura
By CA Devender Singh
A bill seeking to set up separate High Courts in Meghalaya, Manipur and Tripura was today passed by Parliament.
| Income Tax official gets 3-yr sentence in disproportionate assets case
By CA Devender Singh
A CBI court has awarded three years sentence to an income tax officer for possessing assets disproportionate to his known sources of income, in an 11-year old case.
| CIT vs. Sahara India Housing Corporation Ltd (Delhi High Court)
By CA Atul Gupta
The assessee offered gains from sale and purchase of securities as “capital gains”. The AO assessed it as business profits on the ground that in the earlier years, it was offered as such.
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Auditor disowns Prithvi Information report; refuses to sign accounts
By CA Rashmi Sharma
The auditor of the Hyderabad based software outsourcer Prithvi Information Solutions (PISL) have refused to sign the financial accounts of the company for 2010-11.
| ‘Our objectivity critical to media audit'
By CA Devender Singh
Audit and advisory company Spatial Access Media Solutions recently launched a new logo and restructured its services under three SBUs (strategic business units).
| HC wants all audit records on NRHM funds
By CA Rashmi Sharma
The Lucknow bench of the Allahabad High Court on Thursday summoned all audit reports pertaining to utilisation of NRHM funds in UP, prepared by the state and central teams.
| Social audit committee for multiple institutions in Lokpal
By CA Atul Gupta
A slew of measures involving multiple institutions rather than one institution for doing everything for everyone is the Suchna Evum Rozgar Ka Adhikar Abhiyan's mantra for a stronger Lokpal bill.
| Audit firms may also face action in Satyam-like cases
By CA Andrew F Thomas
New Companies Bill to propose equal responsibility of auditors, firms. Unlike in the multi-crore Satyam fraud, audit firms will not be able to wash their hands of corporate scams perpetrated by companies in connivance with their partner auditors.
| Audit report: Funds diverted in dargah
By CA Mayank Jain
The 2009 audit report has blamed a few members of dargah committee in Ajmer of allegedly misusing donors' fund. The committee comprising nine members, including the president appointed by the Union ministry of minority affairs
| CAG to go public with audit reports: Flagship schemes
By CA Manu T George
Prime Minister Manmohan Singh may not be happy with the way the apex auditor of the country, Comptroller and Auditor General (CAG) of India, goes public with its findings, but the office of the CAG is bracing up for more public interactions in the coming days.
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| | Latest Circulars RSS Feeds |
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RBI - Auction of Government of India Dated Securities
By CA S K Verma
Government of India have offered to sell (re-issue) (a) “8.24 percent Government Stock 2018 for a notified amount of Rs.4,000 crore (nominal) through a price based auction using uniform price method vide Notification No.4(5)-W&M/2012 dated May 21, 2012
| Auction for Sale [Re-issue] of Government Stock
By CA Ojas Aggarwal
The auctions will be conducted using uniform price method. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on
May 25, 2012 (Friday).
| Seeks to extend the validity of Notification no. 64/2007-Customs, dated the 7th May, 2007, by one more year, i.e. upto and inclusive of 6th May, 2013.
By CA Nilesh Sahu
Whereas, the designated authority vide notification No. 15/14/2011-DGAD, dated the 2nd May, 2012, published in Part I, Section 1 of the Gazette of India, Extraordinary, dated the 2nd May, 2012,
| Clarification regarding classification of Structural Components of Boiler and Admissibility of CENVAT Credit on these Structural Components
By CA Andrew F Thomas
References have been received from the field formations seeking clarification in respect of the Circular No 964/07/2012-CX issued vide F No 84/1/2011-CX.1 dated 2nd April 2012 on the above subject.
| RBI-Bank Finance to NBFCs Predominantly Engaged in lending against Gold
By CA Manu T George
Please refer to paragraphs 94 to 96 (extract enclosed) of the Monetary Policy Statement 2012-13 announced on April 17, 2012 on ‘Bank Finance to NBFCs Predominantly Engaged in Lending against Gold’
| Seeks to amend notification no. 10/2008-Customs, dated 15th January, 2008(India-Singapore CECA).
By CA Mayank Jain
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 10/2008
| Selected Candidates for Internship Programme of the Department of Economic Affairs for 2012-13.
By CA Devender Singh
In order to recommend selection of interns for the Internship Programme 2012-13 of the Department of Economic Affairs, a meeting of the Selection Committee was held on 27 th April, 2012 and the Selection Committee unanimously recommended the names of the fifteen interns,
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50 Opening Accountant & Finance Professionals
By CA Devender Singh
Industry: Accounting, Finance Functional Area: Accounts, Finance, Tax, CS, Audit
Education:(UG - Any Graduate - Any Specialization, Graduation Not Required) AND (PG - Any PG Course - Any Specialization, Post Graduation Not Required)
| 55 Opening Accounting, Finance and Human Resources Administration Executive
By CA Ojas Aggarwal
Salary:INR 2,00,000 - 3,25,000 P.A Industry: Accounting, Finance
Education:(UG - B.Com - Commerce) OR (PG - MBA/PGDM, M.Com)
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| 120 Opening Chartered Accountant Finance Analyst
By CA Ojas Aggarwal
Salary:INR 2,00,000 - 3,00,000 P.A Functional Area: Accounts, Finance, Tax, CS, Audit Education:(UG - Any Graduate - Any Specialization, B.Com) AND (PG - Any PG Course - Any Specialization, Post Graduation Not Required, MBA/PGDM - Finance)
| 50 Opening Finance and Account process in an international
By CA Nilesh Sahu
Salary:INR 1,25,000 - 1,75,000 P.A Functional Area: Accounts, Finance, Tax, CS, Audit Education:(UG - B.Com - Commerce, B.B.A) AND (PG - Any PG Course - Any Specialization, Post Graduation Not Required)
| 25 Opening Walk-in Interview- Account Assistant /Executive
By CA Atul Gupta
Experience 0 - 5 Years Industry Type Banking, Financial Services, Broking Role Accounts Executive/ Accountant
| 100 Opening Accounts Executive/ Accountant/ Book Keeper.
By CA Atul Gupta
Salary:INR 2,50,000 - 7,50,000 P.A. Salary + Incentives + Transport Industry: Accounting, Finance Functional Area: Accounts, Finance, Tax, CS, Audit
| 100 Opening Finance Executive ( Freshers)
By CA Mayank Jain
Salary:INR 2,25,000 - 3,00,000 P.A Industry: Accounting, Finance Functional Area: Accounts, Finance, Tax, CS, Audit Education:(UG - B.Com - Commerce) OR (PG - MBA/PGDM, M.Com)
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| | Direct Tax RSS Feeds |
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Tax Dept detects concealed income of Rs 19,938 cr in last 2 yrs
By CA Atul Gupta
The government said the income tax department has detected concealed income of Rs 19,938 crore in the last two fiscals.
| Tax Department detects concealed income of Rs 19,938 crore in last 2 years
By CA Mayank Jain
The government today said the income tax department has detected concealed income of Rs 19,938 crore in the last two fiscals.
| CBDT move puts tax reforms in peril
By CA Manu T George
A high-level panel headed by the Central Board of Direct Taxes (CBDT) chief has suggested limits on cash held by individuals besides mandating a no-objection certificate from the tax department on immovable property transactions,
| Upgrade technology, raise trained manpower for tax department
By CA Rashmi Sharma
The white paper on black money has made several recommendations to deal with the problem but it seems that the lack of manpower and absence of cutting edge technology is hampering the government's efforts to combat the menace.
| Black money generators: Jewelry, IPO, realty & bullion
By CA Atul Gupta
The Finance Minister Pranab Mukherjee has tabled white paper on black money in Parliament today. The 100-page report is quite detailed and exhaustive but does not contain any names.
| GAAR provisions to be part of DTC, to come into effect in April 2013
By CA Manu T George
The General Anti-Avoidance Rule (GAAR), approved under the Finance Act, will be part of the Direct Taxes Code (DTC) Bill to be tabled in the monsoon session of Parliament. The finance ministry plans to implement both GAAR and DTC from April 1, 2013. However,
| Net direct tax collections rise 7-fold in April
By CA S K Verma
The net direct tax collections rose to a whopping Rs14,812 crore in April this year, a seven fold increase compared to the same period of last fiscal.
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| | Service Tax RSS Feeds |
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Indirect tax collections well below asking rate
By CA Devender Singh
Overall indirect tax collections in the first month of this fiscal year (2012-13) grew by just over 10 per cent, well below the asking rate of over 27 per cent for achieving the budgeted target of nearly Rs 5 lakh crore through customs duty, excise duty and service tax.
| GST roadblocks continue to impede progress
By CA Mayank Jain
It is by now agreed wisdom in the minds of all stakeholders that the present scheme of consumption taxation, or indirect taxation as it were, is no longer sustainable and that the Goods and Services Tax (GST) is by far a better tax model.
| Air India piles up Rs 454crore service tax dues
By CA Devender Singh
Five months after its accounts were frozen for non-payment of taxes and duties, crisis-ridden Air India has piled up about Rs 454 crore of dues but has promised to clear it as soon as it gets capital infusion from the government.
| New service tax refund system soon for software exports: CBEC
By CA S K Verma
The Central Board of Excise and Custom (CBEC) is set to issue a new methodology to ease refund of service tax for software exports.
| Oriental Bank scraps service charges on NEFT payments up to Rs 1 lakh
By CA Nilesh Sahu
Taking the lead, Oriental Bank of Commerce (OBC) has done away with service charges on all NEFT payments up to Rs 1 lakh originating through its branches.
| Raids uncover Rs 1.5 cr service tax evasion
By CA Rashmi Sharma
The Indore branch of central excise and customs department, which raided on the premises of four real estate developers in the city during past two days, is estimating to recover an alleged service tax evasion of about Rs 1.5 crore from them.
| Dominant stake unlikely for NSDL in GST network firm
By CA Andrew F Thomas
The National Securities Depository Ltd (NSDL), which was to hold a 21% stake in the company set up to run the goods and services tax (GST) network, may not be the dominant private stakeholder in it.
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| | Customs and Excise RSS Feeds |
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Customs duty collection falls 8.8%
By CA Andrew F Thomas
Indirect tax collections recorded a modest growth of 10.4 per cent at Rs 33,045 crore in April 2012, against Rs 29,936 crore in the year ago period, as customs’ collections fell by 8.8 per cent due to duty drawback outgo and cut in duty on petroleum products last year.
| Excise duty depends on manufacture, not ownership
By CA Andrew F Thomas
Some times the lack of knowledge on the part of senior officers of the Revenue Department on some fundamental issues with regard to the leviability and chargeability of tax leads to serious harassment to the assessees.
| Pranab inaugurates renovated Calcutta Customs Club
By CA Nilesh Sahu
Union Finance Minister Pranab Mukherjee today inaugurated the renovated Calcutta Customs Club at the Maidan.
| Results of Dec '10 MPSC examination to be released by end of this month
By CA Nilesh Sahu
The results of the Maharashtra Public Service Commission (MPSC) exam conducted in December 2010 have been delayed till the end of May.
| High excise duty dents medium, heavy commercial vehicle sales
By CA Andrew F Thomas
Hit by a hike in excise duty, the sales of medium and heavy commercial vehicles (M&HCVs) declined by 11.60 per cent last month -- to 19,914 units
| Stopped at customs, German claims 49 lizards were for lunch
By CA Nilesh Sahu
A German man stopped at customs with 49 live exotic lizards in his bag claimed they were destined for the cooking pot and even offered to bite one's head off to prove it, officials said today.
| Excise on gold jewellery, TDS on realty rolled back
By CA Mayank Jain
Finance minister Pranab Mukherjee buckled under pressure from two powerful trade lobbies - jewellers and realtors - while dropping proposals put forward by him,
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Govt eases telco merger rules; defers spectrum pricing
By CA Mayank Jain
The telecoms ministry will allow mergers and acquisitions between operators that create a combined market share of up to 35 percent through a "simple and quick" process, the telecoms minister said, easing rules that were seen restricting deals in the sector.
| AI pilots warn of strike as HR panel studies foreign mergers
By CA Rashmi Sharma
Flag carrier Air India’s key pilot union has warned of industrial action as a deadline approaches next week for the start of a human resource integration process.
| Electronics giant Olympus hid investing losses in big merger payouts
By CA Andrew F Thomas
Olympus said Tuesday that more than $1 billion in merger payouts were used to hide years of losses on investments, an acknowledgment that is an abrupt about-face for the company,
| ONGC may invite Cairn, Vedanta to sign pact
By CA Manu T George
State-owned Oil & Natural Gas Corp (ONGC) may this week invite Cairn India and Vedanta Resources for signing of an agreement on sharing of statutory levies on the all important Rajasthan oilfields.
| Merger bankers seek action as economies sink
By CA Nilesh Sahu
Mergers and acquisitions slowed significantly in the third quarter, stymied by economic uncertainty that stifled the confidence and growth horizons of corporate executives, according to Wall Street dealmakers.
| Coal India awaiting govt nod for overseas acquisitions
By CA Atul Gupta
Coal India, the world's largest coal miner, is in talks for one acquisition each in Indonesia, Australia and the United States, its chairman said on Monday, adding it would only proceed after getting the green signal from the government.
| Global merger and acquisition seen rising, but at slower pace
By CA Ojas Aggarwal
Shadows are beginning to fall over the pitch books of merger and acquisition bankers. Announced M&A deals declined in this year's second quarter from the previous three months, casting gloom on hopes of a reviving world economy that will prompt executives to put their cash-rich balance sheets to work.
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| | Indirect Tax RSS Feeds |
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GAAR deferred but new tax rule may keep foreign investors away
By CA Mayank Jain
Foreign investors may be relieved over the controversial GAAR tax proposals being pushed back by a year but another new taxation framework could make their India investments riskier and expensive.
| Indirect tax mop-up rises 10% in April
By CA Ojas Aggarwal
The Centre’s indirect tax collections have risen 10% in April to R32,000 crore as against just over R29,000 crore garnered in the same month of the previous year.
| April indirect tax collection up 10.4% to Rs 33,045 cr
By CA Rashmi Sharma
Collection of indirect taxes jumped by 10.4 percent to Rs 33,045 crore in the first month of the current fiscal on the back of increase in excise duty and service tax rates.
| Standing Counsels to represent the Income-Tax Department before High Courts and other Judicial Forums.
By CA Atul Gupta
With a view to improve the quality of representation and to streamline the process of engagement of Standing Counsels for the Department to represent before various High Courts and other judicial forums and in supersession of the existing Instructions of the Board on the subject in general
| Indirect tax collection up 9%
By CA Atul Gupta
In the current financial year, the indirect tax collection, which includes excise duty, customs duty, and service tax, has been at Rs 91,035 crore, which is nine per cent higher than the previous year, while the service tax contributes Rs 3,705 crore alone, said Shreyas V Pandya, president, Gujarat Chamber of Commerce and Industry (GCCI).
| Income tax officials stage dharna in support of demands
By CA Andrew F Thomas
Income tax officials under the banner of Joint Council Association staged a dharna in Ludhiana against Central Board of Direct Taxes (CBDT) chairman Laxman Das on Tuesday in support of their demands.
| Pranab brings new twist to taxation of indirect transfers
By CA S K Verma
If you thought that Finance Minister, Mr Pranab Mukherjee's statement on Monday regarding retrospective ‘clarificatory' amendments would bring cheer for telecom major Vodafone, think again.
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| | Various Acts & Rules RSS Feeds |
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Customs Tariff 2009-10 - PART-II - Chapter 98 - Project imports, Laboratory chemicals, passenger's baggage
By CA Atul Gupta
This Chapter is to be taken to apply to all goods which satisfy the conditions prescribed therein, even though they may be covered by a more specific heading elsewhere in this Schedule.
| Customs Tariff 2009-10 - PART-II - Chapter 97 - Works of art, collectors' pieces and antiques
By CA Atul Gupta
Unused postage or revenue stamps, postal stationery (stamped paper) or the like of heading 4907
| Customs Tariff 2009-10 - PART-II - Chapter 96 - Miscellaneous manufactured articles
By CA Mayank Jain
Articles of Chapter 66 (for example, parts of umbrellas or walking-sticks);
| Customs Tariff 2009-10 - PART-II - Chapter 95 - Toys, games and sports requisites; parts and accessories thereof
By CA Ojas Aggarwal
Toys, games and sports requisites; parts and accessories thereof
| Customs Tariff 2009-10 - PART-II - Chapter 94 - Furniture; bedding, mattresses, mattress supports
By CA Atul Gupta
Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; lamps and lighting fittings, not elsewhere specified or included; illuminated signs, illuminated name-plates and the like; prefabricated buildings.
| Customs Tariff 2009-10 - PART-II - Chapter 93 - Arms and ammunition; parts and accessories thereof
By CA Nilesh Sahu
telescopic sights or other optical devices suitable for use with arms, unless mounted on a firearm or presented with the firearm on which they are designed to be mounted (Chapter 90);
| Customs Tariff 2009-10 - PART-II - Chapter 92 - Musical instruments; parts and accessories of such articles
By CA Devender Singh
parts of general use, as defined in Note 2 to Section XV, of base metal (Section XV), or similar goods of plastics (Chapter 39);
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