|
Written by P.T. GOVINDARAJAN
|
|
Monday, 01 March 2010 22:00 |
|
Tax concessions: Apart from the liberal increase in tax slabs at lower tax rates, the finance minister has introduced the following additional schemes in the Union Budget for 2010-11.:
• Deduction up to INR 20,000 for investment in long-term infrastructure bonds.
This deduction is over and above the existing limit of INR 100,000 available for investment in saving instruments/ for specified expenditure.
• Payment of health insurance premium to the Central Government Health Scheme is eligible for tax deduction as in the case of contribution to other approved insurance institutions.
|
|
|
Written by P.T. GOVINDARAJAN
|
|
Friday, 19 February 2010 16:20 |
|
Government of India
Ministry of Commerce and Industry
(Department of Commerce)
Directorate General of Foreign Trade
Udyog Bhawan, New Delhi 110 011
Dated 9th February, 2010
Circular No. 23 /2009-2014 To
All Regional authorities
Subject: Confirming membership of Chartered accountants with the Institute of Chartered Accountants of India
|
|
Written by P.T. GOVINDARAJAN
|
|
Thursday, 28 January 2010 16:16 |
|
Background
The Central Board of Direct Taxes (“CBDT”) had issued Circular No. 3/2009 dated 21st May 2009 providing clarifications on filing of the return of income for the assessment year 2009-2010. As per the circular, a tax payer who is filing returns electronically without a digital signature must submit a hard copy of the Form ITR-V with the Income-tax Authorities within 30 days of uploading the return electronically. The address to which it must be mailed to is as below:
|
|
|
Written by P.T. GOVINDARAJAN
|
|
Wednesday, 17 February 2010 15:39 |
|
Company directors will have to shape up if the Government has its way. They will not be able to remain silent about the wrongdoings of a board or offer the excuse that they were ignorant of such actions. Also, they will not be able to just lend their name to the company and earn easy money. Continuance on the board will depend on their performance as for the first time there could be guidelines to measure directors’ performance as for the first time there could be guidelines to measure directors’ performance. The Corporate Affairs Ministry wants to introduce a new concept called the ‘knowledge test’ to find out that if the directors had previous knowledge of a company’s wrongful acts. As a first step, it would be ensured that the board processes are totally transparent.
|
|
Written by P.T. GOVINDARAJAN
|
|
Thursday, 21 January 2010 16:53 |
|
A new provision relating to tax deduction at source (TDS) under the Income Tax Act 1961 will become applicable with effect from 1st April 2010. Tax at higher of the prescribed rate or 20% will be deducted on all transactions liable to TDS, where the Permanent Account Number (PAN) of the deductee is not available. The law will also apply to all non-residents in respect of payments / remittances liable to TDS. As per the new provisions, certificate for deduction at lower rate or no deduction shall not be given by the assessing officer under section 197, or declaration by deductee under section 197A for non-deduction of TDS on payments shall not be valid, unless the application bears PAN of the applicant / deductee.
|
|
|
|
|
<< Start < Prev 1 2 3 4 5 6 7 8 9 10 Next > End >>
|
|
Page 1 of 20 |
