| Home fix: buy or rent? Posted: 13 May 2011 06:47 PM PDT 
Apartment prices up and interest rates are going up. The big question for people trying for a dream home with rising equated monthly installments (EMIs) these days is: should one buy a flat or does it make more sense to live on rent and wait for better days to make a purchase? The average apartment price across the country has risen by 20% over the past year, say market experts. This means... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| CBEC's CLARIFICATION ON PROSECUTION PROVISION IN FINANCE ACT, 1994 Posted: 13 May 2011 06:07 PM PDT 
Clarification regarding prosecution provision in Finance Act, 1994 CIRCULAR NO. 140/9/2011-SERVICE TAX, DATED 12-5-2011 With the enactment of Finance Act, 2011 (No.8 of 2011), section 89 which provides for prosecution of specified offences involving service tax, becomes a part of Chapter V of Finance Act, 1994. 2. Prosecution provision was introduced this year, in Chapter V of... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Tax Deductors Expect few more Notices Posted: 11 May 2011 07:26 PM PDT 
Drive to clean up TDS database by May 20, 2011TO immediately redress the grievances of tax payers who have claimed refunds, but because of the default on the part of tax Deductors, tax demands have been created, CBDT advises all the CCITs (CCA) to ensure the following: i. Where TDS Returns have been filed : TDS Returns with very high number of mismatches have been identified by the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| GOLD LOAN AGAINST GOLD MUTUAL FUNDS BY RELIANCE FINANCE Posted: 11 May 2011 06:33 PM PDT 
Reliance Commercial Finance, an Anil Ambani group company, today forayed into the business of providing loans against gold units a first-in-industry offering where gold in paper form can be used as collateral. The company will provide loans up to Rs 1 crore under this programme, for which it has entered into an exclusive tie-up with another group firm, Reliance Mutual Fund. Initially,... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| SBI interest rates 01-04-11 for computing perquisite valuation Posted: 13 May 2011 11:18 AM PDT 
State Bank of India: Interest Rates on 1st April, 2011 For the purpose of computing perquisite valuation Interest rates as on 1st April, 2011 on various loans in Personal Segment advances are as under – – 1. Home Loans Loan amountUpto Rs.30 lacsAbove Rs. 30 lacs to Rs. 75 lacAbove Rs.75 lac to Rs.5 Cr.Above 5 cr. Interest rate during... ...... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Tariff Value of Edible Oils, Brass Scrap and Poppy Seeds Notified Posted: 13 May 2011 10:38 AM PDT 
Central Board of Excise and Customs (CBEC), Department of Revenue has issued a Notification No.34/2011-Customs (N.T.) dated May 13, 2011 and thereby notifying tariff values of edible oils, brass scrap (all grades) and Poppy seeds as shown in the table below. "T A B L E" S.No.Chapter heading/ sub-heading/tariff itemDescription of goodsTariff value US $ (Per... ...... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Green-channel banking at more branches of SBI Posted: 13 May 2011 10:04 AM PDT 
In Green channel Banking customers need not fill up any pay-in slip or cheque for depositing or withdrawing money from their account. Instead they could access the services of ATMs.Since there is no paperwork in this initiative, it is called green-channel banking. State Bank of India (SBI) will introduce "green-channel banking" at more of its branches to promote paperless work and... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| RBI launches e-payment facility for Commercial Taxes in Karnataka Posted: 13 May 2011 09:52 AM PDT 
One can now pay commercial taxes like Sales Tax, VAT, CST and Entry Tax in Karnataka 24X7, 365 days a year. The state is the first in the country to introduce RBI's e-payment system for commercial tax remittances. The facility was launched by Chief Minister B S Yeddyurappa yesterday. Introduced in collaboration by the RBi [...] RBI launches e-payment facility for Commercial Taxes in Karnataka is... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Delhi High Court on Tax: Mohan Meakin Limited vs Commissioner Of Income Tax, Delhi on 11 May, 2011 Posted: 13 May 2011 05:19 AM PDT 
whether it was a bad debt or not as contemplated by Section 36 of the Act. It was then submitted by the learned counsel that the... Read more... Delhi High Court on Tax: Mohan Meakin Limited vs Commissioner Of Income Tax, Delhi on 11 May, 2011 is a post from: taxworry.comRelated posts:Order u/s 197 does not debar A.O to issue notice u/s 147 for reassessment: Delhi High CourtMumbai High Court on... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Delhi High Court on Tax: Irrecoverable Trade Advance allowable as expenditure u/s 37(1) Posted: 12 May 2011 11:37 PM PDT 
whether it was a bad debt or not as contemplated by Section 36 of the Act. It was then submitted by the learned counsel that the... Read more... Delhi High Court on Tax: Irrecoverable Trade Advance allowable as expenditure u/s 37(1) is a post from: taxworry.comRelated posts:Order u/s 197 does not debar A.O to issue notice u/s 147 for reassessment: Delhi High CourtIs Fee To Lawyers or CA For... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Cooperative sector opposes paying at corporate sector tax rates Posted: 12 May 2011 09:15 AM PDT 
With the implementation of the direct tax code from April, 1, 2012, as per the proposal adopted by in the Union Budget of 2011-12, the Centre plans to impose direct taxes on the incomes earned by cooperative sector on par with similar levy on the corporate sector. As per this proposal the cooperative sector will [...] Cooperative sector opposes paying at corporate sector tax rates is a post... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| What is the remedy against tax discrimination in a foreign country ? Posted: 12 May 2011 03:22 AM PDT 
India has signed Double Tax Avoidance Agreement (DTAA) with many countries.Indians are working in many countries and many go abroad for short duration for a job or service and come back. In many cases , the Indian remains resident within meaning of Income Tax Act. Let us say , the tax authorities are imposing tax [...] What is the remedy against tax discrimination in a foreign country ? is a... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Tax Tax Tax …………on MMRDA plans to impose 10% tax on properties ! Posted: 11 May 2011 09:09 PM PDT 
The service tax has already increased real estate cost . Now the Mumbai Metropolitan Region Development Authority (MMRDA) is proposing for a 10% development tax on the value of a property, as per the ready reckoner rate (the rate set by the state government for property in a particular area). The proposed development tax was [...] Tax Tax Tax …………on MMRDA plans to impose 10% tax on properties !... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Temporary Post Used For Theme Detection (e15f2946-64e8-4220-aa57-df378cccce70 – 3bfe001a-32de-4114-a6b4-4005b770f6d7) Posted: 10 May 2011 07:59 PM PDT 
This is a temporary post that was not deleted. Please delete this manually. (0f808e14-7d3f-4925-8668-593b170bc1ba – 3bfe001a-32de-4114-a6b4-4005b770f6d7) Temporary Post Used For Theme Detection (e15f2946-64e8-4220-aa57-df378cccce70 – 3bfe001a-32de-4114-a6b4-4005b770f6d7) is a post from: taxworry.com Related posts:Is Shifting Charge & Temporary Accommodation Taxable Perquisite? Hello... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Six parameters to decide if the expenditure is deductible business expense? Posted: 10 May 2011 11:47 AM PDT 
Supreme Court set six parameters to decide if the expenditure is deductible as business expenditure ? The law on the subject was clarified by the Supreme Court in CIT vs Woodward Governor India (P) Ltd. and Honda Siel Power Products Ltd.223 CTR 1 The actual issue before Hon'ble Supreme Court was Whether, on the facts [...] Six parameters to decide if the expenditure is deductible business... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
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