| Govt notifies interest on EPF for Financial year 2010-11 Posted: 20 Mar 2011 08:41 PM PDT 
Govt of India has notified the new rate for interest for Employee Provident Fund (EPF) for Financial year 2010-11. New rate is 9.5% for financial year 2010-11. Notification in this regard is reproduced hereunder. [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Deductions from works contracts while payment of tax in composite scheme under Punjab VAT Act 2005 Posted: 20 Mar 2011 08:11 PM PDT 
Every person executing works contracts shall pay tax on the value of goods at the time of incorporation of such goods in the works executed at the rates applicable to the goods under this Act: Provided that where accounts are not maintained to... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Renting & Service Tax- Hassled Tenants & Landlords Posted: 20 Mar 2011 08:02 PM PDT 
ASG Mr. Vivek Tankha's letter to FM, circulated under Letter F.No.276/282/2010-CX.8A by CBEC, has confused many a landlord who are pressing the tenants to pay up the Service Tax on renting. Excerpts : 3.The Ld. ASG has opined …He has advised that... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Licensing authorities have the power to amend the licence with retrospective effect- Bombay HC Posted: 20 Mar 2011 07:54 PM PDT 
The Bombay HC last week quashed the decision of the Customs, Excise, Service Tax Appellate Tribunal which held the Director General of Foreign Trade (DGFT), the licensing authority under the Foreign Trade (Development & Regulation) Act, did not... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Tenders or public auction best way to sell state properties- SC Posted: 20 Mar 2011 07:35 PM PDT 
Tenders or public auction best way to sell state properties- The Supreme Court (SC) has declared "inviting tenders from the public or holding public auction is the best way for disposal of properties belonging to the state." In this case, Kerala... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Withdrawn tax exemption cannot be reclaimed despite the fact that Assessee has invested fund on the promise of tax benefit Posted: 20 Mar 2011 07:29 PM PDT 
Withdrawn tax exemption cannot be reclaimed- An industry which has been granted tax exemption to set up unit in a backward region cannot claim the benefit even after it was withdrawn by the state, the SC stated in the case, State of Haryana vs... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Re-Tendering of E-Filing of Returns and Other Forms and Web-Enabled Services for Income-Tax Department Posted: 20 Mar 2011 07:12 PM PDT 
Sealed Technical and Financial bids are invited from eligible bidders for implementation of E-Filing of Returns and Other Forms and Web-Enabled Services for Income-Sealed Technical and Financial bids are invited from eligible bidders for... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Archaic laws reason for black money in real estate Posted: 20 Mar 2011 06:38 PM PDT 
Blaming use of black money in real estate to archaic laws, India's largest realty firm DLF today said Prime Minister Manmohan Singh's emphasis on reduction of stamp duty will help in cleansing the sector. "Real estate industry is the least reformed.... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Monitoring of food import from Japan for radioactive contamination- Custom Instruction Posted: 20 Mar 2011 06:36 PM PDT 
Following the recent earthquake in Japan and concerns of possible radiation leakage from the affected nuclear plants, there is a need to increase surveillance of food imports from Japan to ensure that they are safe for consumption. Accordingly, it... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| CAG questions Sebi, Irda for retaining surplus funds Posted: 20 Mar 2011 02:38 AM PDT 
The Comptroller and Auditor General (CAG) in its report has pulled up Securities and Exchange Board of India (Sebi), Insurance regulatory and Development Authority (Irda), Pension Fund Regulatory Development Authority (PFRDA), Central Electricity... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Relaxation in due date for uploading of E-Return of Maharashtra Profession Tax for the month of February 2011 and March 2011 Posted: 20 Mar 2011 01:39 AM PDT 
The Government of Maharashtra has issued Trade Circular No. 4-T of 2011 dated 19-03-2011 regarding relaxation of due date for the filing of E-Return of Maharashtra Profession Tax for the month of February 2011 till 31st March 2011 provided tax is... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Service Tax on Programme (T. V. Or Radio) Services Posted: 20 Mar 2011 12:42 AM PDT 
Programme (T. V. Or Radio) Services means any service provided or to be provided to any person, by a programme producer, in relation to a programme. "Programme" means any audio or visual matter, live or recorded, which is intended to be disseminated... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Service tax on Technical Testing and Analysis Services Posted: 20 Mar 2011 12:38 AM PDT 
Technical Testing and Analysis Services means any service provided or to be provided to any person, by a technical testing and analysis agency, in relation to technical testing and analysis. "Technical Testing and Analysis" means any service in... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Service Tax on Transport of Goods by Air Services Posted: 20 Mar 2011 12:31 AM PDT 
Transport of Goods by Air Services means any service provided or to be provided to any person, by air craft operator, in relation to transport of goods by aircraft; "Aircraft" has the meaning assigned to it in clause (1) of section 2 of the Aircraft... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Service tax on Insurance Business Services (Life Insurance) Posted: 20 Mar 2011 12:21 AM PDT 
Insurance Business Services (Life Insurance) means any service provided or to be provided to a policy holder or any person, by an insurer, including re-insurer carrying on life insurance business in relation to risk cover in life insurance;... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Service tax on Insurance Auxiliary Services Concerning General Insurance Business Posted: 20 Mar 2011 12:09 AM PDT 
Insurance Auxiliary Services Concerning General Insurance Business means any service provided or to be provided to a policy holder or any person or insurer, including re-insurer by an actuary or intermediary or insurance intermediary or insurance... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Service tax on Intellectual Property Services Posted: 19 Mar 2011 11:51 PM PDT 
Intellectual Property Services means any service provided or to be provided to any person, by the holder of intellectual property right, in relation to intellectual property service; "Intellectual Property Right" means any right to intangible... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Service tax on Interior Decorator's Services Posted: 19 Mar 2011 11:41 PM PDT 
Interior Decorator's Services means any service provided or to be provided to any person, by an interior decorator in relation to planning, design or beautification of spaces, whether manmade or otherwise, in any manner; "Interior Decorator" means... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Service tax on Health Club and Fitness Centre Services Posted: 19 Mar 2011 11:14 PM PDT 
Health Club and Fitness Centre Services means any service provided or to be provided to any person, by a health club and fitness centre in relation to health and fitness services; [Section 65 (105) (zw) of Finance Act, 1994 as amended]. [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Service Tax on Insurance Auxiliary Services Concerning Life Insurance Business Posted: 19 Mar 2011 11:02 PM PDT 
Insurance Auxiliary Services Concerning Life Insurance Business means any service provided or to be provided to a policy holder or any person or insurer, including re-insurer by an actuary, or intermediary or insurance intermediary or insurance... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Service tax on Mandap Keeper's Services Posted: 19 Mar 2011 10:55 PM PDT 
Mandap Keeper's Services means any service provided or to be provided to any person, by a Mandap keeper in relation to the use of Mandap in any manner including the facilities provided or to be provided to [such person] in relation to such use and... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Globalisation' of Indian accountants need of the hour – ICAI President Posted: 19 Mar 2011 10:44 PM PDT 
Rapidly growing Indian economy and the strides taken by Indian firms to go global have thrown up the need for"globalisation of Indian accountants"to tap into growing opportunities, the President of the Indian Chartered Accountants of India (ICAI)... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
