CBDT Guidelines for Stay of Demand

CBDT Guidelines for Stay of Demand

It shall be the responsibility of the Assessing Officer and the TRO to collect every demand that has been raised, except the following : (a) Demand which has not fallen due;(b) Demand which has been stayed by a Court or ITAT or Settlement...


Checklist For Prevention Of Money Laundering

As per the provisions of the Act, every banking company, financial institution (which includes chit fund company, a co-operative bank, a housing finance institution and a non-banking financial company) and intermediary (which includes a...


Quick Referencer On DGFT Circulars -April, 2011 – March, 2012

Index 1. Conditions and modalities for registration of contracts of cotton yarn with DGFT 2. Clarification about requirement of "Declaration of Intent"for EOU shipping bills for claiming Chapter 3 scheme benefits 3. Conditions and modalities for...


Excel Tips – How to Use Vlookup Function

Excel's VLOOKUP function, which stands for vertical lookup, is used to find specific information that has been stored in a spreadsheet table. This tutorial includes step by step instructions of how to use Excel's VLOOKUP function.


Co-Operative Society – Taxation – A.Y. 2012-13

Filing of return & due date & PAN/ TAN - Since there is no threshold limit for taxability of income in case of a co-operative society, it implies that if a society has any taxable income, it has to file a return of income . Since...


Software Customisation is 'production' of computer program and entitled for S. 10B benefits

The term 'computer programme' had not been defined under Section 10B of the Act, however, it had been defined under Section 10BB of the Act as 'computer programme' or 'process' or 'management of electronic data'. After the amendment with effect from...


Discount on deep discount debentures issued for construction of house property is in the nature of interest & allowable

ITAT held that the proportionate discount on deep discount debentures issued for construction of house property is in the nature of interest as defined under Section 2(28A) of the Income-tax Act, 1961 (the Act). Therefore, such interest would be...


ITAT on Meaning of expression 'may be taxed' used in India's tax treaties

Tribunal held that use of the expression 'may be taxed' in the second sentence of Article 7 on business profits would permit both the state, in which the permanent establishment (PE) is situated (Source State or PE State), as well as the Residence...


Quick Referencer On LLP Circulars (April 2011 – March 2012)

Registration Of Companies Or Llps Which Have One Of Their Objectives To Do Business Of Architect. Integration Of Director's Identification Number (Din) Issued Under Companies Act, 1956 With Designated Partnership Identification Number (Dpin) Issued...

UPDATES FROM TAXGURU