LEGAL & FINANCIAL UPDATES FROM TAX GURU 31.03.2009

UPDATES FROM TAX GURU


Advancement of any other object of general public utility not a Charitable purpose if fees or other consideration charged

Posted: 30 Mar 2009 08:53 PM PDT

EXPLANATORY NOTES TO THE PROVISIONS OF THE FINANCE ACT, 2008 CIRCULAR NO. 1/ 2009, DATED 27th MAR, 2009 5. Streamlining the definition of "charitable purpose" 5.1 Sub-section (15) of section 2 of...

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PAN CARD TO COST MORE W.E.F. 01.04..2009 (RS. 94)

Posted: 30 Mar 2009 08:39 PM PDT

W.e.f. 01.04.2009 the NSDL has stepped up the cost for PAN Cards (New PAN / Change / Correction) from present Rs. 60 [plus Service Tax to Rs 85 plus service Tax. Thus, now one will have to pay Rs.94.

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The income-tax (I-T) authorities are waiting for the Board of Control for Cricket in India (BCCI) to file its returns for fiscal year 2009

Posted: 30 Mar 2009 08:31 PM PDT

The income-tax (I-T) authorities are waiting for the Board of Control for Cricket in India (BCCI) to file its returns for fiscal year 2009 to ascertain if the cricket board should be taxed,...

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ICAI, NACAS cross swords over accounting norms related to MTM losses

Posted: 30 Mar 2009 08:27 PM PDT

National Advisory Committee on Accounting Standards (NACAS) may have favoured suspension of mark-to-market accounting norms on foreign exchange transactions for corporate sector for two years, but...

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No BCTT shall be charged in respect of any taxable banking transaction after the 31st day of March, 2009

Posted: 30 Mar 2009 08:11 PM PDT

EXPLANATORY NOTES TO THE PROVISIONS OF THE FINANCE ACT, 2008 CIRCULAR NO. 1/ 2009, DATED 27th MAR, 2009 46. Discontinuation of Banking Cash Transaction Tax 46.1 The Banking Cash Transaction Tax...

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New Form 15CA & 15CB relating to remittance of payments to a non-resident or to a foreign company & CA Certificate

Posted: 30 Mar 2009 07:48 PM PDT

In exercise of the powers conferred by section 295 read with sub-section (6) of section 195 of the Income-tax Act, 1961, the Central Board of Direct Taxes hereby makes the following rules further to...

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Rates for computation of advance tax, deduction of income-tax at source from Salaries, and charging of income-tax in certain cases during the financial year 2008-09

Posted: 30 Mar 2009 07:36 PM PDT

EXPLANATORY NOTES TO THE PROVISIONS OF THE FINANCE ACT, 2008 CIRCULAR NO. 1/ 2009, DATED 27th MAR, 2009 3.3 Rates for computation of advance tax, deduction of income-tax at source from Salaries,...

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Rates for deduction of income-tax at source from certain incomes during the financial year 2008-2009.

Posted: 30 Mar 2009 07:08 PM PDT

EXPLANATORY NOTES TO THE PROVISIONS OF THE FINANCE ACT, 2008 CIRCULAR NO. 1/ 2009, DATED 27th MAR, 2009 3.2 Rates for deduction of income-tax at source from certain incomes during the financial year...

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income derived from saplings or seedlings grown in a nursery shall be deemed to be agricultural income

Posted: 30 Mar 2009 06:58 PM PDT

EXPLANATORY NOTES TO THE PROVISIONS OF THE FINANCE ACT, 2008 CIRCULAR NO. 1/ 2009, DATED 27th MAR, 2009 4. Widening the scope of "agricultural income" 4.1 "Agricultural income" is defined in...

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Amendment in rules related to payment of TDS, Mode of Payment & time period for furnishing of TDS certificate

Posted: 30 Mar 2009 06:48 PM PDT

NOTIFICATION NO 31/2009, Dated: March 25, 2009 In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the...

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With Regards,

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