CAclubindia News

Rs. 86,000 Crore Indirect Tax Revenue Locked up in Litigation

06 September 2012 at 11:26

An amount of Rs.86,000 crores indirect tax revenue of Central Board of Excise and Customs has been locked up in litigation. Success rate of departmental litigation in Courts and Tribunal during the last four years are as follows:-

Posted in Custom | 7542 Views

Income Tax Overseas Units

06 September 2012 at 11:26

Income-tax Overseas Units (ITOUs) manned by tax officers at the level of First Secretary have been established in Mauritius and Singapore. Further, posting orders in respect of officers to be posted to newly created ITOUs in Indian missions at Cyp

Posted in Income Tax | 5310 Views

Relaxation of NBFC Norms

06 September 2012 at 11:21

In view of the problems being faced by NBFC in complying with the extant this criteria on account of their existing portfolio, the RBI modified its directions on August 03, 2012 to include within the definition of ‘qualifying asset’ on

Posted in Others | 5637 Views

Due date for filing of e-Form 23AC and 23ACA (Non-XBRL) is extended up to 15-10-2012

04 September 2012 at 15:30

Due date for filing of e-Form 23AC and 23ACA (Non-XBRL) is extended up to 15-10-2012 Circular No. 28/2012 03.09.2012

Posted in Corporate Law | 3 comments | 18696 Views

Income-tax (10th Amendment) Rules, 2012

04 September 2012 at 12:54

TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE [CENTRAL BOARD OF DIRECT TAXES] Notification New Delhi, the 30th day of August, 2012

Posted in Income Tax | 14397 Views

Full text of the committee report on GAAR

03 September 2012 at 12:33

Full text of the committee report on GAAR

Posted in Income Tax | 1 comments | 9315 Views

Ministry of Finance Notifies Advance Price Agreement (APA) Scheme

01 September 2012 at 13:42

The Ministry of Finance has notified an “Advance Pricing Agreement Scheme” (Rules 10F to 10T of Income Tax Rules, 1962) vide notification No. 36/2012 dated 30-8-2012. The Finance Act, 2012 had inserted sections 92CC and 92CD in the Inc

Posted in Income Tax | 4 comments | 9090 Views

FM's Statement Regarding GDP Numbers for First Quarter for 2012-13

01 September 2012 at 13:42

FM’S Statement Regarding GDP Numbers for First Quarter for 2012-13; Emphasizes Once Again the Need to take Quick Decisions to Accelerate Investments and Removing all Bottlenecks to Investments The first quarter GDP numbers for 2012-13 were r

Posted in Others | 6717 Views

2nd ICSI Corporate Governance Week Culminates at New Delhi

01 September 2012 at 13:42

The Institute of Company Secretaries of India (ICSI) observed the 2nd ICSI CORPORATE GOVERNANCE WEEK on the theme ‘Good Governance For Sustainability’, from August 27th to August 31st 2012 across the Country.

Posted in Corporate Law | 1 comments | 5850 Views

Institutional Mechanism for forming Departmental view on Contentious Legal Issues

01 September 2012 at 13:42

OFFICE MEMORANDUM [F.NO. 279/M-61/2012-ITJ] DATED 28-8-2012 It has been observed that a large part of litigation in the Direct Taxes matters involves interpretation of legal provisions. Lack of desired clarity on a contentious legal issue, amo

Posted in Income Tax | 5280 Views