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Wednesday, December 9, 2009

Re: UPDATES FROM TAX GURU (in this message: 13 new items)



On Tue, Dec 8, 2009 at 9:36 AM, LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in> wrote:

UPDATES FROM TAX GURU (in this message: 13 new items)

Link to LEGAL & FINANCIAL  UPDATES FROM TAX GURU

Whether Service Tax is applicable to the sale of computer software?

Posted: 07 Dec 2009 07:43 PM PST

The Finance Act, 2008 brought some new services under the Service Tax net. One of them is Information Technology Software Service. Inclusion of a new services category — Information Technology Software Services — within the ambit of Service Tax...

[[ This is a content summary only. Visit my website www.taxguru.in for full article ]]


Daughter's right in coparcenary

Posted: 07 Dec 2009 07:36 PM PST

Since the passing of the Hindu Succession Act, 1956 ('the Act'), one issue which was constantly agitated by the liberals was regarding the right of a daughter or a married daughter in coparcenary property of a Hindu Undivided Family. Some of the...

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Accounting for financial instruments and derivatives

Posted: 07 Dec 2009 07:26 PM PST

Accounting Standards (AS) 30 and 31 have been issued by our Institute and will come into effect from April 1, 2011 with early adoption being recommendatory. AS-30 deals with recognition and measurement of financial instruments (including...

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Supreme Court decision in Dharmendra Textile Processors — Does it change the law on S. 271(1)(c)?

Posted: 07 Dec 2009 07:26 PM PST

In penalty matter under the Central Excise Act, 1944 in the case of Union of India & Others v. Dharmendra Textile Processors & Others, (2007) 295 ITR 244 the Bench of two Judges of the Supreme Court doubted the judgment of other two Judges...

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Advance Ruling on taxability of profits from international operations of ships

Posted: 07 Dec 2009 06:13 PM PST

The applicant is a non-resident shipping Company incorporated under the laws of Switzerland and is in the business of shipping contracts for the transportation of cargo worldwide. During the financial years 2007-08 and 2008-09, the applicant entered...

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CBI given clean chit to PricewaterhouseCoopers (PwC)

Posted: 07 Dec 2009 05:52 PM PST

The Central Bureau of Investigation (CBI), which is probing the multi-crore Satyam accounting fraud, has given a clean chit to PricewaterhouseCoop ers (PwC), the firm's erstwhile statutory auditors. The CBI, in its supplementary chargesheet filed...

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Taxability of ULIP and Insurance policy maturity amount under the DTC regime

Posted: 07 Dec 2009 05:32 PM PST

Premium Punch:- At present, premium payment for a life insurance policy is tax-exempt provided the premium amount is not more than 20 per cent of the sum assured. Similarly, any sum received under a life insurance policy – be it money back at...

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Taxability of second House under the Income Tax Act,1961

Posted: 07 Dec 2009 05:21 PM PST

People buy a second home for many reasons, which, inter-alia, include as an investment for capital appreciation; to use it as a holiday home; to get a regular stream of income by way of rentals; or to diversify their investment portfolio. Whatever...

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Government looking for changes in RTI Act

Posted: 07 Dec 2009 05:16 PM PST

Chief Justice of India K G Balakrishnan's recent request to Prime Minister Manmohan Singh to protect the judiciary from increasingly ''intrusive'' queries appears to have triggered an exercise to look for options to effect changes in the RTI Act....

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Form One person company (OPC) after implementation of the Companies Bill 2009

Posted: 07 Dec 2009 05:12 PM PST

A man is known by the company he keeps. But with the implementation of the Companies Bill 2009, a single person will constitute a Company, under the One Person Company (OPC) concept.As a structure for professionals, individual entrepreneurs, SMES...

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Government may review / renegotiate DTAA with 76 countries

Posted: 07 Dec 2009 05:07 PM PST

As reported by us earlier The government is planning to comprehensively revise tax treaties with as many as 25 nations, including Switzerland and Mauritius, and re-negotiate with 51 others, to trace black money. The government plans a comprehensive...

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House Rent Allowance (HRA) taxability and working/calculation of taxable HRA

Posted: 07 Dec 2009 05:03 PM PST

Employees generally receive a house rent allowance (HRA) from their employers. This is a part of the salary package, in accordance with the terms and conditions of employment. HRA is given to meet the cost of a rented house taken by the employee for...

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Results of CPT Online Examination held on 21st & 22nd November 2009 has been declared on 7th December 2009 – (07-12-2009)

Posted: 07 Dec 2009 05:40 AM PST

The results of CPT online examination held on 21st & 22nd November 2009 has been declared on 7th December 2009. Related posts:Result of CPT Online (for Exam. held on 24th & 25th Oct. 2009) Declared The results of CPT online examination...

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Palash Biswas
Pl Read:
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