Omission or negligence on the part of an assessee to disclose properparticulars of his income-tax returns would not necessarily constitutea deliberate act of suppression to invite punitive action from taxofficials, the Supreme Court has ruled. Concea
Theprocess of electronically filing Income tax returns through theinternet is known as e-filing. It is mandatory for Companies and Firmsrequiring Section 44AB audit to submit the Income tax returnselectronically for AY 2007-08. Any Company and Firm r
Multipurpose Empanelment Form for the year 2007-08Members may please note that the Multipurpose Empanelment Form for the year 2007-08 is likely to be hosted around mid of June, 2007. Members may also note that clear 30 days time would be given for fi
The Income Tax department should be "friendly and courteous" towardsthe tax-payers while recovering levies, Union Finance Minister PChidambaram said on Friday. Inaugurating a Rs 38 croremulti-storeyed tower for the department
Increase in membership fee w.e.f. 1st April 2008The Council of the Institute, at its 268th meeting, held from 30th April to 2nd May, 2007 has decidedto increase membership fees under various categories with effect from 1st April, 2008 as under:(Amoun
Remuneration payable to the Statutory Central and Branch Auditors of Public Sector Banks from the year 2006-07 RBI/2006-2007/ 429DBS.ARS.No.BC. 08 / 08.92.001/ 2006-07June 6, 2007CONFIDENTIALThe Chairman & Managing Director, all Nationalised Bank
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Section 65(105) of the Finance Act, 1994 defines the taxable service in respect of various categories of services. The Finance Bill, 2007 seeks to introduce sub-clause (zzzza) to clause (105) as below: -"(zzzza) to any person, by any other person in
Service Tax on House PropertyApplicable from 01/06/07.Mr. Finance minister in the budget for the year has levied an Indirect tax on the let out of property. Tax will be charged in contracts where the property is rented or leased out for commercial pu
Today, the mood at the Thakur College ofEngineering and Technology, Kandivali, was ecstatic as approximately4,000 Chartered Financial Analyst (CFA) institute students (levels one,two and three) successfully took their examinations . The exam wa
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