taxation

  The VAT rate on goods as mentioned in schedule..

The Commissioner of Sales Tax of Maharashtra issued the circular No 5T of 2010 on 28th January and extended the date of filing the VAT audit report in form 704  for the year 2008-09 form 31st January 2010 to 31st March 2010..

Delhi , January 27,2010 Central Board of Direct Taxes has decided to extend the time limit for filing ITR-V form relating to income-tax returns filed electronically (without digital signature) on or after 1st April 2009, up to 31st March 2010 or within a period of 120 days from the date of uploading of the electronic return data, whichever is ..

Income tax evaders are being pushed into an increasingly tight corner – the I-T department is planning restructuring that will help assessing officers spend more time on an assessee than they do now. Currently in Mumbai, an assessing officer, the individual who actually detects tax evasion after going through the assessee’s files, scrutinises..

Income tax refunds may get delayed for a fortnight, following a complete revamp of security buffers in the computer software system of tax departments across the country, after the discovery last week that someone had hacked into an account and made off with Rs 11 crore. The Central Board of Direct Taxes has suggested to income tax departments..

On 22/01/10 the Hon. Finance Minister Mr. Sunil Tatkare has announced at the time of bhoomipujan ceremony of proposed building of sales tax office of Ratnagiri that MVAT Audit date is extended by 2 months. This announcement was made in the presence of Hon. Sales Tax Commissioner Mr. Sanjay Bhatia, but there is no official communication yet from the Sales..

link rel="themeData" href="file:///C:%5CDOCUME%7E..

Two days ahead of the usual date, the Union Budget for 2010-11 is to be presented on February 26, for reasons of a holiday and an Islamic religious event. This was indicated by Finance Minister Pranab Mukherjee at an informal meeting with journalists. Each year the Budget is presented in the Lok Sabha on February 28. It so hap..

The Finance Act, 2008 received the assent of the President of India on the 10th May, 2008 which contains provisions for direct and indirect taxes for fiscal year 2008-09. The Finance Bill was earlier approved by both the houses of Pa..

New Delhi: The Union Budget is likely to be presented on February 26, according to top representatives in the finance ministry. The Cabinet will meet shortly to take a decision on the Budget date. The Budget is presented in Parliament on the last day of February However, this time February 2..

The failure of the persons to appear before the AO for examination in assessment proceedings or remand proceedings tilts the scales in favour of the revenue for giving a finding that the gifts were not genuine. CASE LAW DETAILS Decided by: ITAT, DELH BENCH `H’, DELHI,  In The case of: ITO v. Usha Aggarwal,  Appeal No.: ITA No. 1..

In the words of our present Chief Justice of India,“….. the citizens’ faith in the judicial system will begin to wane because justice delayed is justice forgotten, excluded and finally discharged “ The quote certainly does not auger well if one were to look at pendency of tax cases in different layers of our judicial hierarchy – 28,000..

The state of Punjab has challenged in the Supreme Court the validity of Union government notification giving concessions in taxes and also providing subsidy to the new as well as existing industries in the states of Jammu and Kashmir, Himachal Pradesh and Uttarakhand. Contending that such concessions provided on selective basis would adversely affect the industrial ..

Finance Minister Pranab Mukherjee Wednesday said the initiatives taken and proposed in the new direct tax code (DTC) will check avoidable litigations with resident as well as non-resident tax payers. Addressing the Parliamentary Consulta..

 The much dreaded Delhi Value Added Tax (Amendment) Bill, 2009 raising the slab of 4 per cent to 5 per cent, was passed by voice vote in the Delhi Assembly today. The Bill was passed unopposed as the Opposition BJP had walked out during Chief Minister Sheila Dikshit's&n..