The Supreme Court has said the Income-Tax Department has to accept the authenticity of the accounts maintained in accordance with the provisions of the Companies Act and certified by the auditors.The assessing officer cannot go beyond the net profit ..
September, 26th 2008The Service Tax Department has charged the Indian arm of softwaregiant Microsoft with evading taxes to the tune of Rs 128 croreduring 2006-07 and has asked to pay Rs 256 crore, including penalty.The department found that Microsoft ..
CAs now allowed to advertise services - While practising company secretaries would be allowed to advertise their services from January 1 itself, for the chartered accountants and cost accountants it is not likely before April as the matter has to get ..
Reduction in tax compliance burden, the most pressing need for corporates September, 20th 2008 today consider compliances as a top priority item, says Mr Ajay Kumar, executive director, PricewaterhouseCoopers. “Companies feel that going forward there ..
The Central Board of Direct Taxes (CBDT) have extended the last date of filing of income tax returns and obtaining tax audit report under section 44AB of the Income Tax Act, 1961, due by 30th September 2008, to 30th November 2008 in the state of Biha ..
SEPTEMBER 08, 2008By Shivani Shah, CATHE issue of Tax deduction at source (TDS) on Service tax is indeeda burning issue today. This got even more aggravated with theissuance of a recent Circular by the CBDT bearing Circular no. 4dated 28/04/2008. In ..
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Recalcitrant Revenue finds its appeal dismissed by Tribunal as being defective MUMBAI, SEPT 02, 2008 : THIS is one order served by “dasti” that Revenue ought not to take lightly.The short matter was that an appeal was filed by the Revenue against an ..
Revenue's overseas posts: Let's do away with 'Under-cover' tag and put a fair selection policy in place!AUGUST 28, 2008By Shailendra Kumar,LAST week the Union Cabinet gave its nod for creation of more than 500 new posts over the years in the Ministry ..
CCE vs. Punjab Fibres (Supreme Court)In the context of s. 35 of the Excise Act, held (1) Where the statute confers on the authority concerned a limited power of condonation of delay or does not provide any such power, the authority has no power to co ..
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