Govt Said that UTN no. is scrapped which was to come on 01.01.10

The government has decided to shelve the introduction of the Unique Transaction Number (UTN) which tax payers need to quote along with Permanent Account Number (PAN) when tax is deducted/collected at source. The scheme was to have come into force from the New Year. However, the finance ministry has not ruled out the possibility of introducing a new identity number like UTN from the next fiscal, in addition to the PAN to ensure prompt verification and granting of tax credits to tax payers. “The...

Read rest of entry

HOW TO PREPARE FOR CPT?

Dear Fri+ends,  Here is my first Article,written especially for taxpert blog.Please read it, it is for the benefit of CPT students. ur Fri+end Vakeel Ali   To download the belowgiven article click here: http://www.box.net/shared/nrmsbc0le7 HOW TO PREPARE FOR CPT? 1.For all subjects Read module carefully and prepare ur own short and sweet notes. Prepare ur notes after understanding in depth. Use these notes for revision purpose. Solve all the previous exam questions chapter- wise. ie...

Read rest of entry

IFRS convergence PPT

Just click on the below mentioned link to download the PPT. ifrs convergence.pdf 1.FOLLOW US ON TWITTER CLICK HERE: http://twitter.com/taxpertindia 2.Posted www.taxpertindia.blogspot.com 3.Get Tax updates from my blog through by joining my google group CA_taxmannindia:http://groups.google.co.in/group/ca_taxmannindia?hl=en 5.Get Free Quality SMS updates from my blog on your MOBILE:http://labs.google.co.in/smschannels/subscribe/ca_taxmannindia OR Send a message JOIN ca_taxmannindia to 9870807070...

Read rest of entry

No ST on foreign service prior to 18.4.2006 Says Supreme Court

Now It is Final - No Service Tax on foreign service prior to 18.4.2006: Supreme Court dismisses Revenue SLP TIOL-DDT 1258 15.12.2009 Tuesday IS it 1.1.2005 or 18.4.2006? In the Hindustan Zinc case - 2008-TIOL-1149-CESTAT-DEL-LB, a Larger Bench of the Tribunal headed by the President held that, “the taxable service provided by a non-resident or from outside India, who does not have any office in India, having been specified as 'taxable service' with effect from 1.1.2005, under...

Read rest of entry

New Perquisite Rules Notified dated: 18.12.09

THE much-awaited perquisite valuation rules have finally been notified by the CBDT. The Board has amended Rule 3 to give effect to the abolition of FBT, announced in the Budget 2009. Vide Income Tax (13th) Amendment Rules, the Board has notified the new valuation guidelines w.e.f April 1, 2009 for the AY 2010-11. You can Download this notification click here:http://www.box.net/shared/8oqh6xp1oh INCOME-TAX (THIRTEENTH AMENDMENT) RULES, 2009 - SUBSTITUTION OF RULE 3 AND INSERTION OF RULE 40F Notification...

Read rest of entry

Advance FBT paid for the FY:2009-10 is to be treated as advance income tax paid, so that the same can be adjusted against incometax liability

THE POST BUDGET MEMORANDUM OF THE ICAI CLEARLY SPECIFIES AS UNDER "Advance FBT paid should be treated as advance income tax paid, so that the same can be adjusted against incometax liability in order to avoid the procedural hassles and time involved in claiming refund. Further in case there is no advance tax payable either on account of loss or exempt income appropriate circular be issued to grant refund." To download the post budget memorandum just click here : http://www.mediafire.com/file/yjylh2ligyi/16677postbudget_memorandum09.pdf 1.FOLLOW...

Read rest of entry

MCA:~MKT. RESEARCH N ANALYSIS unit in Serious Fraud Investigation Office

Press Information Bureau Government of India Thursday, December 10, 2009 Ministry of Corporate Affairs MARKET RESEARCH AND ANALYSIS UNIT IN THE SERIOUS FRAUD INVESTIGATION OFFICE 15:17 IST LOK SABHA                                     The Government has set up a Market Research and Analysis Unit in the...

Read rest of entry

NON-BANKING FINANCIAL COMPANIES (Frequently Asked Questions)

  To download this file click here:http://www.mediafire.com/file/3ojjyzjjmlm/NBFCpart1.pdf Frequently Asked Questions on NBFCs QUES -1   What is a Non-Banking Financial Company (NBFC)? ANS -1  A Non-Banking Financial Company (NBFC) is a  company registered under the Companies Act, 1956 and is engaged in the business of loans and advances, acquisition of shares/stock/bonds/debentures/securities issued by Government or local authority or other securities of like...

Read rest of entry

Import & export rate for the month of December (Issued by custom authorities)

Just click the below mentioned link to download the notification: http://www.cbec.gov.in/customs/cs-act/notifications/notfns-2k9/csnt174-2k9.htm 1.FOLLOW US ON TWITTER CLICK HERE: http://twitter.com/taxpertindia 2.Posted www.taxpertindia.blogspot.com 3.Get Tax updates from my blog through by joining my google group CA_taxmannindia:http://groups.google.co.in/group/ca_taxmannindia?hl=en 5.Get Free Quality SMS updates from my blog on your MOBILE:http://labs.google.co.in/smschannels/subscribe/ca_taxmannindia OR...

Read rest of entry

Reversal of cenvat credit on WIP/ finished goods written off in the books of accounts -reg

Circular No. 907/27/2009-CX F.No.267/141/2009-CX8 Government of India Ministry of Finance Department of Revenue (Central Board of Excise & Customs) New Delhi, dated the 7th December, 2009. To, All Chief Commissioners of Central Excise (including LTU), All Commissioners of Central Excise (including LTU), All Director Generals. Sir/ Madam, Subject: Clarification on issues related to reversal of cenvat credit on WIP/ finished goods written off in the books of accounts...

Read rest of entry