UPDATES FROM TAX GURU 03.11.2009

UPDATES FROM TAX GURU (in this message: 9 new items)



Corruption in settling drawback claims: CVC asks CBEC to provide officers detailed checklists

Posted: 02 Nov 2009 06:45 PM PST

On the action front, the CVC report reveals that on the basis of its recommendations, various competent authorities imposed major penalty in 47 cases in September, and 14 of them belong to the Railways. Merely one officer from CBDT figures in this...

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Formation & Taxation of Charitable Trust

Posted: 02 Nov 2009 06:39 PM PST

A public charitable or religious institution can be formed either as a Trust or as a Society or as a Company registered u/s 25 of the Companies Act. It generally takes the form of a trust when it is formed primarily by one or more persons. To form a...

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Section 10(6C) of the Income-tax Act, 1961 – Income arising to foreign company by way of fees for technical services – Notified companies

Posted: 02 Nov 2009 06:09 PM PST

Direct Supply Contract - 24 Hawk Mk 132 AJT ac, Trg Aids, Fixed Spares, Flyaway packs, Supplementary Sparcs, Ferry of aircraft etc. Interim Flying Training of IAF pilots, training of a crew / maintenance crew and ferry of aircraft from UK to India,...

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Verification Status of Examination papers of Professional Competency Examination (PCE) held in June 2009

Posted: 02 Nov 2009 06:02 PM PST

# Roll Numbers of candidates where no change in marks found click Here All these candidates are being intimated by post. # Roll Numbers of candidates where change in marks found but there is no change in result or exemption in applied papers found...

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Register your TAN online and you can view e-TDS / TCS statement submitted with status of the same

Posted: 02 Nov 2009 05:54 PM PST

A facility to register TAN online is available on the TIN website (www.tin-nsdl. com). The Income Tax Department requires all deductors to register their TANs online. Authenticated access (through user ID and password) will be provided to registered...

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Funds raised through initial public offers (IPO) will be under scanner for end-use

Posted: 02 Nov 2009 05:46 PM PST

The Ministry of Corporate Affairs (MCA) has decided to conduct a quarterly scrutiny of the end-use of funds raised through initial public offers (IPO). To this end, the ministry has directed all Registrar of Companies (RoC) to coordinate with the...

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Banks and housing finance companies under scanner for imposing penalty on pre-payment of loans

Posted: 02 Nov 2009 05:35 PM PST

Several banks and housing finance companies have come under the scanner of the competition watchdog for imposing penalty on pre-payment of loans. The Competition Commission of India, according to a CCI official, is scrutinising a complaint...

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No LTA for government staff using personal car or taxi as mode of transport

Posted: 02 Nov 2009 05:31 PM PST

The government will not sanction leave travel allowance for an employee who uses personal car or taxi as mode of transport.However, the rule shall not be applicable to employees with a handicap or disability of self or dependent family member....

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MTNL offered new 3G prepaid connections for Rs 109

Posted: 02 Nov 2009 05:21 PM PST

Mahanagar Telephone Nigam Ltd on Monday said it will offer new 3G prepaid connections for Rs 109 in its Mumbai circle.New subscribers can avail new '3G Tariff', with local voice and video call charges at 20 paise per minute on own local network and...

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With Regards, 
CA Sandeep Kanoi 
Website: http://www.taxguru.in/ 
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