Fwd: TaxGuru.in : Legal & Tax Updates

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From: LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in>
Date: Fri, Nov 26, 2010 at 9:34 AM
Subject: TaxGuru.in : Legal & Tax Updates
To: palashbiswaskl@gmail.com

TaxGuru.in : Legal & Tax Updates

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• Income Tax Raids On Builder Unearth Rs 80-crore Concealed Income
• Service Tax On Renting Of Immovable Property - SC Requests Delhi HC To Dispose Of Writ Petition
• Check Online - Your Articleship Status With ICAI
• Loans Bribery Case- IT Department Will Prove Minister Claims The Same Is Limited To Individuals Only
• Budget 2010-11 To Look Into Problems On Cenvat Credit
• Open Account Outside India Through Agent May Invite Trouble
• Shares Of Money Matters Crashes On Real Estate Scam
• Finance Minister Directs All PSBs FIs And Insurance Companies To Look Into Their Exposures To The Various Companies Men
• Ban On Exist Polls
• Ministry Of Finance Calls For Reports From PSBS And FIS Raided By CBI Today
• Foreign Income-taxes Not Eligible For Deduction U S 37 1 Despite Bar In DTAA Credit For State Taxes To Be Given U S 91 In Addition To Federal Taxes
• Companies Director Identification Number Rules 2006 Amend Ment 2010 - Amendment In Forms DIN-1 And DIN-3
• CBDT S Clarification On Instructions On Stay Of Demand
• SEBI - Submission Of Report Of The Committee For Review Of Ownership And Governance Of Market Infrastructure Institutions
• Union Budget- Suggestions From The Industry And Trade Associations For Budget 2011-12 Regarding Changes In Direct And Indirect Taxe
• Insurance - Guidelines On Variable Insurance Products VIP
• Increase In Allowance Exemption Limit For Employee Working In Any Transport System
• Tax Return Preparer First Amendment Scheme 2010 - Amendment In Paragraphs 2 And 11
• Holiday List 2011 For Maharashtra

Income Tax Raids On Builder Unearth Rs 80-crore Concealed Income Posted: 26 Nov 2010 01:12 AM PST The income tax I-T department stumbled upon Rs 80 crore worth concealed of income during raids on a Santacruz builder on Saturday and Sunday The investigation wing of the department conducted raids on Rawal Builders after gett [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Service Tax On Renting Of Immovable Property - SC Requests Delhi HC To Dispose Of Writ Petition Posted: 26 Nov 2010 12:37 AM PST Govt had moved Supreme Court To restrain nbsp High Courts from Granting Stay SC declined to intervene in favour of Govt High Courts can continue to pass stay orders but Delhi HC directed to pass the orders in due course Order exp [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Check Online - Your Articleship Status With ICAI Posted: 26 Nov 2010 12:11 AM PST If you want to check Your details regarding articleship completion of articleship and information relation to transfer during period of articleship as per ICAI records then you can check the same by clicking on the following l [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Loans Bribery Case- IT Department Will Prove Minister Claims The Same Is Limited To Individuals Only Posted: 25 Nov 2010 11:02 PM PST India s income tax department will look into tax issues in a loans bribery case a finance ministry official said on Thursday The IT income tax department will certainly look into any tax angle involved in the matter the Central B [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Budget 2010-11 To Look Into Problems On Cenvat Credit Posted: 25 Nov 2010 10:56 PM PST The government today said the Union Budget for next fiscal would look into the various problems being faced by companies under their Central Value Added Tax Cenvat credit claims nbsp Cenvat rate is currently fixed at 10 per cent and [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Open Account Outside India Through Agent May Invite Trouble Posted: 25 Nov 2010 10:51 PM PST Seeking the help of a friendly official or agent of a foreign bank to open a bank account overseas may not be a good idea as tax sleuths have their eyes on them and could soon be knocking at your doors Income tax sleuths are keeping a [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Shares Of Money Matters Crashes On Real Estate Scam Posted: 25 Nov 2010 09:35 AM PST Share of Money Matters Financial Services today nosedived by 20 per cent hitting a lower circuit on BSE on allegations that the firm bribed senior officials of public sector financial institutions for procuring loans for corporates [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Finance Minister Directs All PSBs FIs And Insurance Companies To Look Into Their Exposures To The Various Companies Men Posted: 25 Nov 2010 08:57 AM PST Finance Minister Directs all PSBs FIs and Insurance Companies to Look into their Exposures to the Various Companies Mentioned by CBI Carry Out an Independent Evaluation on the Asset Quality Documentation and Compliance of Prudentia [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Ban On Exist Polls Posted: 25 Nov 2010 08:47 AM PST Dr M Veerappa Moily Minister of Law and Justice informed the Lok Sabha in a written reply that the Government has amended the Representation of People s Act to prohibit of conduct of exist polls till the last phase of polling is ov [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Ministry Of Finance Calls For Reports From PSBS And FIS Raided By CBI Today Posted: 25 Nov 2010 08:43 AM PST CBI in its press release has stated that it has arrested CEO of LIC Housing Finance Limited LICHFL Mumbai Secretary Investment LIC Mumbai General Manager Bank of India Mumbai Director Chartered Accountant Central Bank of [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Foreign Income-taxes Not Eligible For Deduction U S 37 1 Despite Bar In DTAA Credit For State Taxes To Be Given U S 91 In Addition To Federal Taxes Posted: 25 Nov 2010 11:52 PM PST The argument that ss 90 91 are confined to USA Federal taxes and not to USA State taxes and that therefore the bar in s 40 a ii does not apply to USA State taxes is not acceptable because any payment of income-tax is an applicati [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Companies Director Identification Number Rules 2006 Amend Ment 2010 - Amendment In Forms DIN-1 And DIN-3 Posted: 25 Nov 2010 10:34 PM PST In exercise of the powers conferred by clauses a and b of sub-section 1 of section 642 read with sections 266A 266B and 266E of the Companies Act 1956 1 of 1956 the Central Government hereby makes the following rules furth [[ This is a content summary only. Visit www.taxguru.in for full article ]]

CBDT S Clarification On Instructions On Stay Of Demand Posted: 25 Nov 2010 10:30 PM PST Letter F No 404 10 2009-ITCC dated 1-12-2009 nbsp Many queries have been received regarding the applicability of Instruction number 95 dated 21 8 1969 vis- -vis Instruction number 1914 dated 2 12 1993 Many assesses are ta [[ This is a content summary only. Visit www.taxguru.in for full article ]]

SEBI - Submission Of Report Of The Committee For Review Of Ownership And Governance Of Market Infrastructure Institutions Posted: 25 Nov 2010 11:54 AM PST SEBI - Submission of report of the Committee for Review of Ownership and Governance of Market Infrastructure Institutions PRESS RELEASE NO 254 2010 DATED 23-11-2010 The Securities and Exchange Board of India constituted a Com [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Union Budget- Suggestions From The Industry And Trade Associations For Budget 2011-12 Regarding Changes In Direct And Indirect Taxe Posted: 25 Nov 2010 11:50 AM PST Union Budget- Suggestions from the Industry and Trade Associations for Budget 2011-12 regarding changes in direct and indirect taxes PRESS NOTE F NO 334 5 2010-TRU DATED 22-11-2010 In the context of formulating the proposals [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Insurance - Guidelines On Variable Insurance Products VIP Posted: 25 Nov 2010 09:51 AM PST CIRCULAR NO nbsp IRDA ACT CIR VIP 187 11 2010 DATED 23-11-2010 The structure of insurance policies evolves over time to provide policy holders a stream of long term benefits Generally these changes are in response to changes i [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Increase In Allowance Exemption Limit For Employee Working In Any Transport System Posted: 25 Nov 2010 07:40 AM PST Exemption Limit in respect of Above Allowance - From 01 09 2008- Any Allowance granted to an employee working in any transport system for meeting his personal expenditure during his duty performed in the course of ru [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Tax Return Preparer First Amendment Scheme 2010 - Amendment In Paragraphs 2 And 11 Posted: 25 Nov 2010 07:40 AM PST NOTIFICATION NO 84 2010 F NO 142 16 2010-SO TPL nbsp DATED 22-11-2010 nbsp In exercise of the powers conferred by sub-section 1 of section 139B of the Income-tax Act 1961 43 of 1961 the Central Board of Direct Taxes [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Holiday List 2011 For Maharashtra Posted: 25 Nov 2010 04:06 AM PST Holiday List 2011 for Maharashtra [[ This is a content summary only. Visit www.taxguru.in for full article ]]

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