2 of 2 File(s)
17 July 2010
Rupee Font for Currency Symbol in Excel [2 Attachments]
10 July 2010
e-Filing Mandatory
Income-tax (Seventh Amendment) Rules, 2010 – Amendment in rule 12
Notification No. 49/2010[F.No.142/15/2010-TPL], dated 9-7-2010
In exercise of the powers conferred by section 295 read with section 139 of Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely : -
- (1) These rules may be called the Income-tax (7th Amendment) Rules, 2010.
(2) They shall come into force from the date of their publication in the Official Gazette.
- In the Income-tax Rules 1962, in rule 12, in sub-rule (3), in the proviso, for clause (a), the following clauses shall be substituted, namely :-
"(a) a firm required to furnish the return in Form ITR-5 and to whom provisions of section 44AB are applicable shall furnish the return in the manner specified in clause (ii) or clause (iii);
(aa) an individual or HUF required to furnish the return in Form ITR-4 and to whom provisions of section 44AB are applicable shall furnish the return for Assessment Year 2010-11 and subsequent Assessment Years in the manner specified in clause (ii) or clause (iii);
(ab) a company required to furnish the return in Form ITR-6 shall furnish the return for Assessment Year 2010-11 and subsequent Assessment Years in the manner specified in clause (ii)'
--
Best Wishes
CA. V.M.V.SUBBA RAO
Chartered Accountant
Door No.24-2-1885,
I Floor, Flat No.5,
Siddivinayaka Residency, I Cross,
Central Avenue, MSR Nagar,
Magunta Layout,
Nellore-524 003
Andhra Pradesh
India
Mobile:+91 - 0 9390221100
+91 - 0 9440278412
e-Mail: vmvsr@rediffmail.com
vmvsr@yahoo.co.uk
http://pdicai.org/MyPage/203038.aspx
07 July 2010
Transfer Pricing Alert [1 Attachment]
Please find attached herewith Transfer Pricing Alert in a landmark ruling, Delhi High Court has, in the case of Maruti Suzuki India Ltd, made observations on proper opportunity to be provided by tax authorities before taking any adverse decision and on the determination of the arm's length price of intangible in the form of trademark.
Trust the same will be useful.
Attachment(s) from Ashwin Nagar
1 of 1 File(s)
05 July 2010
IndianCAs: Master Circulars dated 01-07-2010 issued by RBI (UCB) [1 Attachment]
Attachment(s) from Ashwin Nagar
1 of 1 File(s)
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04 July 2010
IndianCAs: Cheques with corrections to be cleared till Dec 1
Cheques with corrections to be cleared till Dec 1
Parnika Sokhi. Mumbai
Don't be fooled if a bank tells you it cannot clear cheques with cancellations from Today. The Reserve Bank of India (RBI) has clarified that customers need to comply with its guidelines for standardisation of cheques from December 1 and not July 1 as proclaimed by some banks.
The guidelines issued by the RBI in February had specified cheques with cancellations or corrections won't be cleared. The RBI said in a notification last week that these guidelines are applicable only where the Cheque Truncation System (CTS) is in place.
Under the CTS, the cheque's image is sent for verification instead of the original bill. This ensures faster processing compared to the three days it takes for clearance. Therefore, cheques with errors cannot be processed under the CTS. At present, only the Delhi NCR region has implemented the CTS on a pilot basis. Chennai will implement it by the year-end, also on a pilot basis.
The RBI guidelines are not applicable to cheques cleared under other systems like the magnetic ink character recognition (MICR) clearing, non-MICR clearing, over-the-counter collection (for cash payment) or direct collection of cheques outside the clearing house arrangement. The RBI said the guidelines have been introduced to curtail frauds due to alterations and to protect banks and customers.
(Source: DNA)
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01 July 2010
Cenvat Credit - Clean energy Cess
Government of India
Ministry of Finance
(Department of Revenue)
New Delhi, the 29th June, 2010.
Notification No. 26/ 2010-Central Excise (N.T.)
G.S.R. 565 (E). – In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944) and section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the CENVAT Credit Rules, 2004, namely:-
1. (1) These rules may be called the CENVAT Credit (Third Amendment) Rules, 2010.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the CENVAT Credit Rules, 2004, in rule 3, in sub-rule (4), after the fourth proviso, the following proviso shall be inserted, namely:-
"Provided also that the CENVAT credit of any duty specified in sub-rule (1) shall not be utilized for payment of the Clean Energy Cess leviable under section 83 of the Finance Act, 2010 (14 of 2010) :"
[F.No. 354/ 72/2010 –TRU]
(K.S.V.V. Prasad)
Under Secretary to the Government of India
Note.- The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) dated the 10th September, 2004 vide Notification No. 23/2004-Central Excise (N.T.) dated the 10th September 2004, published vide G.S.R. 600(E), dated the 10th September, 2004 and last amended by Notification No. 25/2010-Central Excise (N.T.) dated 22nd June 2010, published vide G.S.R. 542(E), dated the 22nd June 2010.
--
Best Wishes
CA. V.M.V.SUBBA RAO
Chartered Accountant
Door No.24-2-1885,
I Floor, Flat No.5,
Siddivinayaka Residency, I Cross,
Central Avenue, MSR Nagar,
Magunta Layout,
Nellore-524 003
Andhra Pradesh
India
Mobile:+91 - 0 9390221100
+91 - 0 9440278412
e-Mail: vmvsr@rediffmail.com
vmvsr@yahoo.co.uk
http://pdicai.org/MyPage/203038.aspx
IndianCAs: Happy CA Day!!
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30 June 2010
IndianCAs: New TDS rules at a glance [1 Attachment]
Attachment(s) from Aditya Maheshwari
1 of 1 File(s)
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26 June 2010
Clean Energy Cess Rules, 2010
|
--
Best Wishes
CA. V.M.V.SUBBA RAO
Chartered Accountant
Door No.24-2-1885,
I Floor, Flat No.5,
Siddivinayaka Residency, I Cross,
Central Avenue, MSR Nagar,
Magunta Layout,
Nellore-524 003
Andhra Pradesh
India
Mobile:+91 - 0 9390221100
+91 - 0 9440278412
e-Mail: vmvsr@rediffmail.com
vmvsr@yahoo.co.uk
http://pdicai.org/MyPage/203038.aspx
24 June 2010
View TDS Credit with Free of cost
--
Best Wishes
CA. V.M.V.SUBBA RAO
Chartered Accountant
Door No.24-2-1885,
I Floor, Flat No.5,
Siddivinayaka Residency, I Cross,
Central Avenue, MSR Nagar,
Magunta Layout,
Nellore-524 003
Andhra Pradesh
India
Mobile:+91 - 0 9390221100
+91 - 0 9440278412
e-Mail: vmvsr@rediffmail.com
vmvsr@yahoo.co.uk
http://pdicai.org/MyPage/203038.aspx
23 June 2010
Notifications issued bY CBEC on 22/06/2010
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]
Government of India
Ministry of Finance
(Department of Revenue)
New Delhi, the 22nd June, 2010.
Notification No. 25 / 2010 - Central Excise (N.T.)
G.S.R. (E). – In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944) and section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the CENVAT Credit Rules, 2004, namely:-
1. (1) These rules may be called the CENVAT Credit (Second Amendment) Rules, 2010.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the CENVAT Credit Rules, 2004, in rule 2, in clause (a), after sub-clause (B), the following sub-clause shall be inserted, namely:-
"(C) dumpers or tippers, falling under Chapter 87 of the First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986), registered in the name of provider of output service for providing taxable services as specified in sub-clauses (zzza) and (zzzy) of clause (105) of section 65 of the said Finance Act;" .
[F.No. 354/ 33/ 2009 – TRU/Pt.I]
(K.S.V.V. Prasad)
Under Secretary to the Government of India
Service Tax (Removal of Difficulty) Order, 2010
M.F.(D.R.) Order No. 1/2010, dated 22-6-2010
In exercise of the powers conferred by sub-section (1) of section 95 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act), the Central Government, hereby makes the following Order, namely :-
1. (1) This Order may be called as the Service Tax (Removal of Difficulty) Order, 2010.
(2) This Order shall come into force on the 1st day of July, 2010.
2. For the purposes of sub-clauses (zzq) and (zzzh) of clause (105) of section 65 of the Finance Act, the expression 'authority competent' includes, besides any Government authority,-
(i).architect registered with the Council of Architecture constituted under the Architects Act, 1972( 20 of 1972); or
(ii).chartered engineer registered with the Institution of Engineers (India); or
(iii).licensed surveyor of the respective local body of the city or town or village or development or planning authority;
who is authorised under any law for the time being in force, to issue a completion certificate in respect of residential or commercial or industrial complex, as a precondition for its occupation.
[F. No. 334 / 3 /2010 -TRU]
New Service Tax Amendment notifications |
New Service Tax exemption notifications |
|
Date notified for enforcement of Finance Act, 2010
Notification No. 24/2010-Service Tax, dated 22-6-2010
In exercise of the powers conferred by clauses (A) and (B) of section 76 of the Finance Act, 2010 (14 of 2010), the Central Government hereby appoints the 1st day of July, 2010, as the date on which the provisions of the said Act shall come into force.
[F. No. B-1/24 /2010 -TRU]
--
Best Wishes
CA. V.M.V.SUBBA RAO
Chartered Accountant
Door No.24-2-1885,
I Floor, Flat No.5,
Siddivinayaka Residency, I Cross,
Central Avenue, MSR Nagar,
Magunta Layout,
Nellore-524 003
Andhra Pradesh
India
Mobile:+91 - 0 9390221100
+91 - 0 9440278412
e-Mail: vmvsr@rediffmail.com
vmvsr@yahoo.co.uk
http://pdicai.org/MyPage/203038.aspx
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