Fwd: TaxGuru.in : Legal & Tax Updates

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From: LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in>
Date: Thu, Dec 30, 2010 at 9:39 AM
Subject: TaxGuru.in : Legal & Tax Updates
To: palashbiswaskl@gmail.com

TaxGuru.in : Legal & Tax Updates

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• Chartered Accountant S Casino Empire In Nepal May Crumble
• Wipro Asked To Deposit Rs 24 Crore As Tax On Re-export Of Software
• Government Mandates Cost Audits For Over 100 Companies For Financial Year 2010-2011
• ICAI Not Happy With Corporate Sector S Demand For Deferring The Implementation Of The IFRS
• Recognition Of Chartered Accountancy Qualification By IIM Kozhikode For Registration To Doctoral Programme
• US May Impose Estate Tax On NRIs
• Rejection Of E-TDS TCS Return Common Errors And Course Of Action For Regular And Correction Returns
• Revised AS 7 Construction Contract Is Applicable To Only Contractors And Not To Builders And Real Estate Consultants
• Display Of Logo For Promoting A Brand Not Taxable Under Business Auxiliary Services

Chartered Accountant S Casino Empire In Nepal May Crumble Posted: 30 Dec 2010 01:21 AM PST Kathmandu nbsp A billion-dollar gambling industry built up in Nepal by a chartered accountant from New Delhi which encompassed seven casinos and employed nearly 7 000 people has been left tottering with lawmakers Tuesday orderin [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Wipro Asked To Deposit Rs 24 Crore As Tax On Re-export Of Software Posted: 30 Dec 2010 01:17 AM PST The Karnataka high court has directed IT bellwether Wipro Ltd to deposit Rs 24 crore Rs 240 million by Wednesday evening in a case of tax on re-export of software a company official admitted As the company did not comply with th [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Government Mandates Cost Audits For Over 100 Companies For Financial Year 2010-2011 Posted: 30 Dec 2010 01:12 AM PST The government has mandated cost audits for over 100 companies covering a host of sectors including pharmaceuticals fertilisers steel and petroleum Cost audit which is a system of government scrutiny into a company s product [[ This is a content summary only. Visit www.taxguru.in for full article ]]

ICAI Not Happy With Corporate Sector S Demand For Deferring The Implementation Of The IFRS Posted: 30 Dec 2010 01:07 AM PST The accounting regulator Institute of Chartered Accountants of India ICAI has taken strong exception to the corporate sector s demand for deferring the implementation of the International Financial Reporting Standards IFRS It [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Recognition Of Chartered Accountancy Qualification By IIM Kozhikode For Registration To Doctoral Programme Posted: 30 Dec 2010 01:05 AM PST Dear Members nbsp We are pleased to inform you that the IIM Kozhikode has recognized Chartered Accountancy qualification as an eligibility to pursue their Doctoral programme i e Fellow Programme in Management nbsp We invit [[ This is a content summary only. Visit www.taxguru.in for full article ]]

US May Impose Estate Tax On NRIs Posted: 30 Dec 2010 12:59 AM PST If ever there is anything like a good year to die in it is 2010 but only if you are a millionaire US citizen America s death tax which was repealed in 2010 is set to be introduced in the New Year Formally called th [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Rejection Of E-TDS TCS Return Common Errors And Course Of Action For Regular And Correction Returns Posted: 30 Dec 2010 12:58 AM PST Rejection of E-TDS TCS Return Common errors and course of action for Regular and Correction Returns a What is course of action in case a regular statement is rejected A Please refer to Course of action regular re [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Revised AS 7 Construction Contract Is Applicable To Only Contractors And Not To Builders And Real Estate Consultants Posted: 30 Dec 2010 01:31 AM PST Revised Accounting Standard 7 Construction Contract is applicable to only contractors and not to builders and real estate consultants Accordingly the Project Completion Method consistently followed by the taxpayer for recog [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Display Of Logo For Promoting A Brand Not Taxable Under Business Auxiliary Services Posted: 30 Dec 2010 01:08 AM PST Display of logo for promoting a brand not taxable under Business Auxiliary Services but Promotion of Brand of Goods services events business entity etc w e f 01 07 2010 M s Sahara Airlines Limited which was tak [[ This is a content summary only. Visit www.taxguru.in for full article ]]

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Palash Biswas
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