18 July, 2008

 

Latest

n ITAT makes it tougher for taxmen to impose penalty

n Falling rupee creates fresh losses on forex derivatives

n Americans stash away $1.5 trillion in tax havens

n Corporate litigation in SC may cost more

n Govt plans to scrap Press Note 1

n RTI roving eye likely to penetrate UTI MF gu ard

n Govt ready to infuse more capital in Central Bank of India: FM

 

17 July, 2008

 

n Credit rise dips below 25%: RBI

n Govt unhappy with Fitch's new outlook

n Finmin seeks clarity on Customs provision in SEZs

n Professional tax may rise by Rs 5,000

n Service tax rules leave India Inc vexed

n No interest tax on lease finance company

 

16 July, 2008

 

n Real estate group in Rs 110.70-cr tax evasion

n Liquidation to soon get transparent hue

n RBI may raise repo, C RR rates

n Inflation at 5.5% in 6 months: RBI

n Pay your tax before filing returns

 

15 July, 2008

 

n No manpower shortage for processing of tax refunds : IT dept

n IT Dept hits with scrutiny of tax returns

n Delisting to be made easier

n Banks asking borrowers to buy insurance

n States to have common tax rates

n Indirect tax receipts up 11.5% in fi rst quarter

 

14 July, 2008

 

n Capital gains: liability before registration

n Competition Commission for revamp of labour laws

n FM non-committal on further tax cuts

n Referral fees held not liable to tax

n Sales tax top brass to talk VAT deviations today

n Tax deduction on payment for housing

 

12 July, 2008

 

n Sebi may extend results deadline

n Black Friday for Indian economy

n I-T Dept to open special counters

 

11 July, 2008

 

n Builders raided for tax evasion

n Does service tax apply to ‘associated enterprises’?

n Income Tax department goes realty shopping

n Income tax department mops up cool Rs 60 crore from IPL

n IPL may pay Rs 160 cr as TDS to taxman

 

10 July, 2008

 

n How to pay zero tax on family income of Rs 13.10 lakh

n Planning Commission favours imposition of direct tax on SEZs

n SAT effect: Mysore Cement on a roll

n Filing income-tax returns not so easy

n Vodafone, I-T dept battle may shift to SC

 

09 July, 2008

 

n SAT sets aside Sebi order on Heidelberg offer

n RBI pushes SHG model for lending to small units

n Cautious RBI sticks to GDP growth projection of 8.5%

n SBI seeks SC ruling on provisions of Securitisation Act

n Shipping industry seeks cut in taxes

n Bankers ask RBI to avoid rate hikes to manage liquidity

 

08 July, 2008

 

n I-T Dept to focus on TDS to counter collection slowdown

n Banks rule out further hike in deposit rates soon

n No tax on referral fees paid to overseas companies

n AMFI to evolve methodology to value floating rate bonds

n SEBI to look into conflict of interest between AMCs, trustees

n ‘Auditors need to fulfil EU quality norms to operate in Europe’

 

07 July, 2008

 

n CBDT relaxes norms on scrutiny of taxpayers

n Banks hire detectives to trace loan evaders

n Reddy says regulators need more power for crisis control

n Pharma cos hit by new Patent Act concoction, filings drop 41%

n LIC losing ground in overseas market

 

05 July, 2008

 

n Direct tax receipts up 39% in Q1

n EGoM weighs putting SEZs under minimum alternate tax

n India direct tax receipts up 39 pct y/y in June qtr

n Section 80C, tax planning and investments

n Vodafone wins UK anti-avoidance tax battle

 

03 July, 2008

 

n Cabinet approves tax incentives for foreign film makers

n Govt considering to provide service tax relief to transporters

n New Company Law Bill to be tabled in Parliament soon

n SAT sets aside Sebi order in BFSL case

 

02 July, 2008

 

n All goods taxes may come within GST

n New chairman for Central Board of Direct Taxes

n SAT wants 3 separate orders for Karvy Group in demat scam

n Tax man to attach property of tax evaders

n TCS to seek SEZ tax sops extension

 

01 July, 2008

 

n 81,000 false PAN cards detected

n Bengal to apply law for speedy refund of input tax to exporters

n ‘Courts will decide whether natural gas comes under mineral oil’

n Cyber cafes can help in e-filing

n Export sops to be rolled back from Oct 1

n ‘Govt staff need not give PAN for official deals’

n SAT overrules Sebi order against Karvy Stock Broking

n SEZ land purchase under TDS scanner

n Western firms find NELP-VII taxing

 

30 June, 2008

 

n BP criticizes govt over tax sops

n Bringing political donations to book

n Cost of ESOPs may rise under new norms

n Govt cannot take back tax incentives

n I-T dept to scan realty deals for evasion

n Settlement of service tax dues

n Tax on composite income of tea cos

n Tax payment: Amendments and implications

n Top bureaucrats queue up for positions in CCI

 

28 June, 2008

 

n In Gujrat , even poets pay taxes

n Banks’ foreclosure charges liable for service tax’

n Income tax holiday only for commercial production of crude oil

n 'No tax holiday on gas production'

 

27 June, 2008

 

n Income-tax law only covers cos incorporated in India: Vodafone

n Kerala’s tax revenue at Rs 13,699 cr

n Multiplex industry body intensifies efforts to subsume e-tax

n Panel to examine VAT structure, deviations

n Scheme to resolve service tax disputes

n Truckers in rental business not to pay service tax

 

26 June, 2008

 

n BCCI 'charity' tag under tax lens

n CLB likely to replace BIFR for practising euthanasia

n DTAA with Hong Kong moves to the fast track

n Even a few hours extra can be taxing

n Mutual funds raise united voice for PAN exemption

n Nelp bids may slip on tax turbulence

n ONGC highest taxpayer; tax collections up by 43%

 

25 June, 2008

 

n CCI asks SEBI to tighten listing agreement for cos

n Direct tax collection target raised to Rs 3.9 lakh cr

n Sahara misled excise dept on service tax dues?

n Tax-saving funds yield negative returns

 

24 June, 2008

 

n Advance tax collections declines

n Asset sale at a discount to not attract capital gains tax

n Avoiding collateral damage of flouting competition law

n CCI wants Sebi to include compliance audit

n CESTAT asked to re-examine micronutrient compound issue

n Fees for technical services may be taxed as business profits

n India signs DTAA with Syria

n IPL heroes may face tax bouncer

n Kerala traders seek vat refund

n Project monitoring services not a fee

n Tax pact with Botswana from April

n Technology transfer fees issue: SC view

n Treatment of foreign exchange in service tax law

n Use of internet bandwidth not liable to tax

 

21 June, 2008

 

n Advance tax collection from Mum up 76% in Apr-June

n Central excise officers’ powers for audit personnel

n Industry seeks clarity in tax laws for SEZs

n SAT upholds Sebi`s order on Gammon

n Uniform regulations for all market intermediaries

n Vodafone amends writ petition filed against IT

n Vodafone challenges govt tax rules

 

20 June, 2008

 

n Direct tax collection target revised upwards

n ICAI seminar to focus on data security

n RBI keeps credit derivative norms on hold

n Revenue agencies crack down on tax evasion

n Sebi issues fresh norms for debt securities

n Sebi notifies regulations on listing of debt papers & intermediaries

n Sebi nudges BSE to reshuffle board

n Securities Appellate Tribunal order not a loss of face, says SEBI

n Securitised debt issuer has to be a trust: Sebi

 

19 June, 2008

 

n 71% direct tax kitty swells

n Entertainment cos get tax call on Welcome

n Govt relaxes income-tax refund norms

n India, Syria sign revised double taxation avoidance agreement

n RBI tightens anti-money laundering norms for RRBs

n Sebi moves to ease mutual fund investments

n Tonnage tax fails to net FDI in shipping

 

18 June, 2008

 

n April-May excise mop-up grows 0.9% against full-year target of 8%

n Banks’ advance tax outgo signals robust Q1 results

n CBEC to inquire service tax evasion by Jetlite

n Date for tax liability on

n Excise duty collections rebound 4.4% in May

n Indirect tax collections up

n New ICSI norms to bring about more clarity

n Ranbaxy may go for bulk deal to save tax

n Reward taxmen to sustain revenue boom

n Software firms confused over service tax

n Stocks gain on higher advance tax collection

n Tax dues: HC asks collector to issue notices to Bharti, Vodafone

 

17 June, 2008

 

n India Inc takes FM cue, ups advance tax outgo

n Insurance products should be simple: Chidambaram

n IT companies with SEZ units may face tax trap

n I-T officials unearth Rs 11.88 cr unaccounted income

n Liaison offices of MNCs can't be taxed, rules ITAT

n Press Note 7 blocks FDI in select sectors

n RBI seeks public comments on master circular on FDI

n States ask Centre to make good the loss on fuel levy cuts

n Steel pipe makers gain on withdrawal of export tax

n To seek Rs 4,000 cr from Centre for cutting oil taxes

 

16 June, 2008

 

n Advance taxes, repo hike may impact liquidity

n Centre may mop up rs. 3.2 lakh crore thru indirect taxes

n Fixed cost not to be counted as predatory pricing: CCI

n India requires adding more teeth to money laundering laws

n No addition to income sources if assessment is over, rules ITAT

n TN Govt gives BMW tax relief in ‘public interest’

n Traders want withdrawal of VAT on ‘made-ups’

 

14 June, 2008

 

n Big tax rides on malls, multiplexes

n CCI prepares code for industry bodies

n 'File your tax returns in time or face action'

n Obama wants payroll tax on incomes above $250,000

n Tax sword hangs over Ranbaxy-Daiichi deal

 

13 June, 2008

 

n Cabinet okays double taxation pact with Syria

n Campaign to boost tax deduction at source

n Deal under taxmen’s scanner

n Excise-free states lose biz on duty cut

n Former Samsung chairman apologizes at tax evasion trial  

n ICAI plans course for ‘second tier of accountants’  

n I-T slaps Rs 209 cr claim on Reach  

n RBI sets m-banking norms

 

12 June, 2008

 

n Excise exemption norms relaxed

n ONGC seeks Rs 3,000 crore tax rebate

n Plan to boost revenue generation hangs fire

n Pune to have first advisory committee on service tax

n Ranbaxy promoters may duck capital gains tax, pay STT

 

10 June, 2008

 

n CTT to be notified, but Govt not in hurry

n Firms take cover in Clause 49, asks banks & FIs to withdraw nominees

n FM asks CBDT to target higher tax collection this fiscal  

n Govt to launch biometric PAN cards

n No tax relief for new IT investment regions

n Set transfer pricing value on deal basis, rules ITAT

n Sourcing arms of NRIs not to pay tax`

 

09 June, 2008

 

n Cost of direct tax collection at all-time low

n E-governance project set for revamp

n Indian FDI policy cuts a sorry figure

n Interest on NRO account to be taxed as investment income

n Services exports: Some issues

n SEZs run into stamp duty wall

n Transfer of cases: I-T dept moves SC

n VAT panel meeting may discuss sales tax compensation issues

 

07 June, 2008

 

n 36% increase in direct tax collections

n Good tax cuts

n I-T dept may spoil BCCI's IPL party

n IPL bounty may bring BCCI in income tax net

 

06 June, 2008

 

n CBEC notifies guidelines of amnesty scheme

n CIC turns down plea on Ambani's I-T details

n CLB settles Lakhani Group dispute

n Compensation for breach of contract

n Only state-run refineries to get tax holidays

n Properties vacant for a year entitled to vacancy allowance

n VAT Panel to meet on June 16

n Visa, Mastercard to come under PML Act

 

05 June, 2008

 

n ...asks govt to include oil subsidies in budget

n A `green` tax in India!

n Compensation for breach of contract

n I-T collection in J&K grows 40.5%

n ITAT rules on determining rental income for tax liability

n Maha mulls tax cut

n Setting PAN limits in insurance, MF investments

 

04 June, 2008

 

n CII moots tax incentives to develop backward areas

n Delhi large taxpayer unit launch postponed

n Govt restores tax benefits under DEPB to cement exports

n I-T exempts oil PSUs from tax breaks

n ITAT can allow amends in I-T return if appeal filed within 4 years of its order

 

03 June, 2008

 

n Banking, financial activities to come under service tax scanner

n Corporate Governance and Audit

n India signs DTAA with Luxembourg

n