Monday, August 29, 2011

Fwd: TaxGuru : “89(1) Arrears Relief Calculator for W.B.Govt Employees alongwith Form 10E and annexures” plus 29 more



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From: TaxGuru.in - Daily Tax and Corporate Law Update <info@taxguru.in>
Date: Mon, Aug 29, 2011 at 9:37 AM
Subject: TaxGuru : "89(1) Arrears Relief Calculator for W.B.Govt Employees alongwith Form 10E and annexures" plus 29 more
To: palashbiswaskl@gmail.com


TaxGuru : "89(1) Arrears Relief Calculator for W.B.Govt Employees alongwith Form 10E and annexures" plus 29 more

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89(1) Arrears Relief Calculator for W.B.Govt Employees alongwith Form 10E and annexures

Posted: 28 Aug 2011 08:44 PM PDT

Download Section 89(1) Automatic Arrears Relief Calculator for West Bengal Govt Employees alongwith Form 10E and its annexures in excel format.

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Income Tax Calculator for Central and State Government Employees for Financial Year 2011-2012 and Assessment year 2012-2013

Posted: 28 Aug 2011 08:36 PM PDT

Download Automatic Income Tax Calculator for Central & State Government Employees for the Financial Year 2011-2012 and Assessment year 2012-2013.

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Service Tax on Assistance Provided For Processing Visa Applications

Posted: 28 Aug 2011 06:09 AM PDT

In respect of the issue as to whether service tax liability would arise on the assistance provided by visa facilitators, to individuals directly, for processing of visa applications, the CBEC has clarified vide CIRCULAR NO 137/6/2011-ST, Dated:...

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Return of Income to Be Filed Electronically Under The Digital Signature

Posted: 28 Aug 2011 05:26 AM PDT

The Income Tax (Sixth Amendment) Rules, 2011 are notified with effect from 1 July 2011 to provide that, a firm required to furnish the return of income in Form ITR-5, or an individual or Hindu Undivided Family (HUF) required to furnish the return of...

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Taxation of Interest Received From Post Office Savings Bank Account

Posted: 28 Aug 2011 05:14 AM PDT

Interest earned on Post Office Savings Bank Account is presently exempt under section 10(15)(i) of the Act, vide notification no. G.S.R. 607(E) dated 9 June 1989. The said notification is amended to provide that such interest from Post Office...

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Exemption From Furnishing Return of Income In Respect of Certain Class Of Persons

Posted: 28 Aug 2011 05:10 AM PDT

An individual, whose total income for the relevant assessment year (AY) does not exceed Rs. 5,00,000 and consists of only income chargeable under Salary Income from other sources, by way of interest from a savings account in a bank, not...

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Whether royalty paid for use of brand names and trade marks is to be treated as capital expenditure?

Posted: 28 Aug 2011 04:03 AM PDT

CIT Vs V. R.V. Breweries & Bottling Industries Ltd. (Delhi HC)- The observation made in paragraph 58 at page 414 of the aforementioned judgment, on which reliance has been placed by the learned counsel for revenue seeks only to emphasise that...

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Assessee liable to pay interest under s 234B and 234C on the tax payable on book profits computed under s 115J, notwithstanding the fact that it was a deemed profit

Posted: 28 Aug 2011 03:38 AM PDT

Bee Pee Jay Finance Ltd v CIT and Anr (Calcutta High Court)- By virtue of Section 11 5JA a legal fiction has been created by which if total income is found to be less than 30% of the book profit, the total income should be deemed to be 30% of the...

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Computer peripherals entitled to depreciation at 60% and advertisement, ad film and website expenses are revenue in nature

Posted: 28 Aug 2011 03:25 AM PDT

CIT v Bonanza Portfolio Ltd (Delhi High Court ) Expenditure incurred on ad film is to be treated as capital or revenue in nature. We may record here that the learned counsel for the appellant has relied upon the judgment of the Bombay High...

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The expression 'may also be taxed' used in Article 7 permits only the State of Source to tax such income and the State of Residence is precluded from taxing such income

Posted: 28 Aug 2011 03:13 AM PDT

DCIT Vs. M/S. Essar Oil Limited (ITAT Mumbai)- Whether the profits of Oman PE and the loss of Qatar PE of the taxpayer are to be excluded for tax purposes in India, as per Article 7 of respective DTAAs?

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CIT(A) cannot dismiss the assessee's appeal without adjudicating upon the question as to whether the law to s 248, as amended with effect from 1 June 2007, was applicable or not

Posted: 28 Aug 2011 02:05 AM PDT

Jet Air (P) Ltd. v CIT (ITAT Mumbai)- The matter was remitted to the CIT(A) for disposal afresh since the CIT(A) had dismissed the assessee's appeal without adjudicating upon the question as to whether the law to s 248, as amended with effect from 1...

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Merely because assessee does not produce copy of agreement to AO but does so before CIT(A), ITAT cannot delete relief granted by CIT(A)

Posted: 28 Aug 2011 01:38 AM PDT

Status Home and Enclaves (P) Ltd. versus CIT (Calcutta HC)- Whether the Tribunal was justified in law in withdrawing the relief granted by the Commissioner of Income Tax (Appeals) merely because the Development Agreement was not produced before the...

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Striving For Freedom in Independent India

Posted: 27 Aug 2011 11:08 PM PDT

While India celebrated it 64th independence day early this month, independent India still struggles for freedom in more than many ways. It is indeed time for one and all to introspect in retrospect and prospect as to what we have achieved and what...

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CBDT circular on refund procedure for excess TDS on payments to residents pertaining to the period up to 31 March 2010

Posted: 27 Aug 2011 11:04 PM PDT

Circular NO. 2/2011 [F.NO. 385/25/2010-IT(B)], DATED 27-4-2011 of Central Board of Direct Taxes (CBDT) on refund procedure for excess tax deducted at source (TDS) on payments to residents.The new Circular is applicable for refunds pertaining to the...

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Software License Income Taxable As 'Royalty' – Australian Federal Court

Posted: 27 Aug 2011 10:52 PM PDT

International Business Machines Corp v Comm of Taxation (Federal Court of Australia)- SLA grants to IBMA such IP rights as are necessary for distribution of the relevant products by IBMA. It is not a distribution agreement which confers distribution...

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Download Number to Word Convertor for Microsoft Excel programme without any add ins

Posted: 27 Aug 2011 10:29 PM PDT

This Number to Word Converter file do not require you to install the Ad-ins or to write any VBA Code. Just Put your Number or Amount and software will convert the same in word.

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Payment made for accreditation not covered by the definition of 'royalty' under Article 13(3) of India UK tax treaty

Posted: 27 Aug 2011 10:17 PM PDT

ACIT vs. Anchor Health and Beauty Care Pvt Ltd (ITAT Mumbai) - Accreditation does not allow the accredited product to use, or have a right to use, a trademark, nor any information concerning industrial, commercial or scientific experience – or, for...

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Widening of the Scope of Notified Purposes Under Section 10(23AAA)

Posted: 27 Aug 2011 10:15 PM PDT

Under section 10(23AAA) of the Act, income of a fund set up by the employer for the welfare of employees (being members of such fund) in respect of the following notified purposes (subject to satisfaction of certain conditions) are exempt. Cash...

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PM's Letter to Anna Hazare

Posted: 27 Aug 2011 09:59 PM PDT

The Prime Minister, Dr Manmohan Singh, has written to Shri Anna Hazare, informing him of the resolution adopted by both Houses of Parliament today. For the full text of the letter, click here.

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Verification of Marks of CS June, 2011 Examinations

Posted: 27 Aug 2011 09:56 PM PDT

In terms of regulation 46 (2) of The Company Secretaries Regulations, 1982, as in force, a candidate can seek 'Verification of Marks' in any subject(s) of June, 2011 examination within one month from the date of declaration of results. The...

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New Procedure of Income Tax payment challan correction by banks (for physical challans) from 1st September 2011

Posted: 27 Aug 2011 09:56 PM PDT

Revised Procedure from 1st September 2011 to get Income Tax , TDS, Self Assessment Tax, Advance Tax, Wealth Tax and Other Direct tax Payment Challan corrected / Rectified which were paid at bank in Physical Mode and time period within which...

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ICWAI invites queries from members on The Companies (Cost Accounting Records) Rules, 2011 (CARR) & The Companies (Cost Audit Report) Rules, 2011 (CAR)

Posted: 27 Aug 2011 09:40 PM PDT

National Task Force on CARR and CAR constituted by the Council, in its 1st Meeting held on 25th August 2011, has established a "Technical Cell" at ICWAI, to go into all the queries and seek clarifications from the Cost Audit Branch (CAB), Ministry...

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No penalty on brokers if he transfer the trades executed in the wrong client name or code to an 'Error Account'

Posted: 27 Aug 2011 09:33 PM PDT

In a reprieve to brokers having erred genuinely in their share sale or purchases, capital market regulator Sebi and the stock exchanges have decided not to penalise them if the trades executed in wrong names are declared as annulled. To escape...

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Parliament passes unanimous resolution on Anna's demands

Posted: 27 Aug 2011 09:29 PM PDT

Heeding to Anna Hazare's demands, Parliament today adopted a 'Sense of the House' on three key issues raised by him with regard to the Lokpal Bill with an aim of persuading him to end his 12-day hunger strike. The 'Sense of the House' was adopted...

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Jammu and Kashmir removes VAT on state-made goods traded across LoC

Posted: 27 Aug 2011 09:24 PM PDT

Jammu and Kashmir Governor N N Vohra has promulgated an Ordinance introducing amendments to the VAT Act, 2005, making cross Line of Control (LoC) trade tax-free for goods manufactured in the state. The Ordinance was promulgated by the Governor...

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Marine Products Exports Touches 2.8 Billion in 2010-11 Frozen Shrimp Major Export item Accounting for 44.17%

Posted: 27 Aug 2011 09:20 PM PDT

As per the figures released by the Marine Products Export Development Authority during 2010-11 for the first time marine products export earnings have crossed 2.8 billion US dollars. Exports aggregated to 8,13,091 tonnes valued at Rs. 12,901.47...

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Finance Minister's Statement in the Lok Sabha 27 August 2011 on Jan Lokpal Bill

Posted: 27 Aug 2011 09:13 PM PDT

On 5th April 2011, Shri Anna Hazare went on an indefinite fast. Correspondence with the representatives of Sh Anna Hazare and the Govt. representatives took place. On 8th April 2011, Government constituted a Joint Drafting Committee (JDC)...

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ICAI asks members to pay Annual Membership and COP Fees by 30th September 2011

Posted: 27 Aug 2011 09:11 PM PDT

In order to avoid removal of their names from the Register of Members and cancellation of Certificate of Practice, Members who have not paid their fees are requested to remit the same on or before 30th September, 2011. In case fees is not paid by...

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PM's speech in the Lok Sabha debate on Corruption and Lokpal Bill

Posted: 27 Aug 2011 03:17 AM PDT

Madam, it has been mentioned to me that Shri Anna Hazare and his colleagues are very keen that their Bill should be discussed in the Parliament. I have not thought over this matter in great depth, but a thought comes to me that perhaps we could have...

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Government decides to increase the share of Microenterprises in Micro and Small Enterprise (MSE) lending needs too 60% in a phased manner

Posted: 26 Aug 2011 09:20 PM PDT

Loans are sanctioned by the Scheduled Commercial Banks (SCBs) as per financial viability, feasibility of the project and keeping in view their Bank approved policies. However, the Government has decided that the share of Microenterprises in Micro...

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