It's increasingly a conflict between the judiciary and the quasi judiciary, seen by many as closer to the executive than the judiciary. The question is whether the new, powerful tribunals and commissions proposed by the government to speed and "moder
Tax evasion, some say, has become a fine art in India. So, it wasperhaps a matter of time before fine art came under the I-T scanner.It would certainly be hard for taxmen to ignore this phenomenon,with the Indian art market currently valued at $350 m
Are the new income tax returns (ITR) `saral' indeed? For close to adecade, successive finance ministers have sought to make the returnseasy to file although many taxpayers are not convinced.According to finance minister P Chidambaram, the return form
The right of cross-examination June, 30th 2007 All the evidence collected by the Assessing Officer which is tobe used against the assessee must be placed before the latter who mustalso be given an opportunity to rebut. An int
Fair Value Stumps Auditors, PCAOB ToldAuditors won't feel at ease about dealing with fair value foranother 20 to 30 years, the PCAOB's advisory group predicts.Sarah Johnson, CFO.comJune 22, 2007The Public Company Accounting Oversight Board's advisory
CHENNAI, JUNE 25, 2007 : VEAI NNIRADNirmala was a heartthrob ofTamil cinema and a favourite of MGR. She took a loan of Rs. 4,65,000from the AIDMK in cash and was awarded a sentence of two yearsRigorous Imprisonment in addition to a fine of Rs.4,65,00
On the face of it, the information and broadcasting ministry's proposal to ask television channels to appoint auditors is a good one. It keeps the government off the channels' backs, and there will not be incidents of the type where the I&B minis
Restricted service fields can gain the most through freer rules for competition The institutional structures of a modern economy owe much to the learned professions-such as the accountants, lawyers, engineers and architects. Upon these professions re
Paying taxes has never been simpler with the authorities introducing the mechanism of online payment. The use of electronic means to deliver services is not only an efficient and speedy process, but it also facilitates a transparent process for disse
The increase in the dividend distribution tax (DDT) rate in the Finance Act 2007 was viewed sceptically by the industry. The levy of minimum alternate tax (MAT) on the IT sector, which is enjoying tax deduction under section 10A/10B of the Income Tax
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