Re: UPDATES FROM TAX GURU (in this message: 12 new items)

On Mon, Jan 18, 2010 at 9:55 AM, LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in> wrote:

UPDATES FROM TAX GURU (in this message: 12 new items)

---

• Circular on TDS on Salaries under Section 192 of the Income–Tax Act, 1961 during the Financial Year 2009-2010
• Delhi shifted to a 5% Value Added Tax (VAT) slab from 4%
• RBI likely to allow money withdrawals from the point of sale terminals using prepaid cards issued by banks
• It department challenged deduction u/s. 80RR claimed by fashion designer Tarun Tahiliani
• DGFT notification on amendment in Chapter 3 of FTP regarding Para 3.13.2, 3.14.2, 3.15.2 & 3.15.3
• Amendment in HBP-V1-Additional items-markets for incentives under chapter-3 schemes -Admissible date of Export/Period
• DGFT circular on insertion of Para 6.31 in HBP v 1 2009-14
• DGFT circular on amendment in chapter 8 of FTP regarding mega power projects
• Custom notification amending Principal notification No. 36/2001-Customs (N.T.) dated the 3rd August, 2001
• Custom duty circular amending Notification No.21/2002-Customs, dated the 1st March, 2002 – Effective Rate of Duty
• Company Law Board – National Company Law Tribunal – An Analysis
• Tax Gurus failed to find Potholes in Wealth Tax under DTC

Circular on TDS on Salaries under Section 192 of the Income–Tax Act, 1961 during the Financial Year 2009-2010 Posted: 17 Jan 2010 08:37 AM PST The present Circular contains the rates of deduction of income-tax from the payment of income chargeable under the head "Salaries" during the financial year 2009-2010 and explains certain related provisions of the Income-tax Act. The relevant Acts,... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]

Delhi shifted to a 5% Value Added Tax (VAT) slab from 4% Posted: 17 Jan 2010 07:19 AM PST Starting Thursday, Delhi shifted to a 5% Value Added Tax (VAT) slab from 4%. The shift to the 5% slab will impact the prices of medicines, surgical and medical equipment, IT and electronic products like computers and software, and industrial inputs,... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]

RBI likely to allow money withdrawals from the point of sale terminals using prepaid cards issued by banks Posted: 17 Jan 2010 07:17 AM PST The Reserve Bank of India (RBI) is likely to allow money withdrawals from the point of sale (PoS) terminals using prepaid cards issued by banks. "RBI is considering to allow open loop cards to withdraw money from a PoS terminal. RBI is working on... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]

It department challenged deduction u/s. 80RR claimed by fashion designer Tarun Tahiliani Posted: 17 Jan 2010 07:13 AM PST Is Tarun Tahiliani, one of India's leading fashion designers, an artiste? Those who admire his creations might think so, but not the income-tax [I-T] department. It's been almost a decade now since the I-T first objected to Tahiliani seeking tax... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]

DGFT notification on amendment in Chapter 3 of FTP regarding Para 3.13.2, 3.14.2, 3.15.2 & 3.15.3 Posted: 17 Jan 2010 07:03 AM PST NOTIFICATION No. 25 /2009-14 - New Delhi, Dated the 15 January 2010. S.O (E) – In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) read with Para 1.3 of the Foreign Trade Policy... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]

Amendment in HBP-V1-Additional items-markets for incentives under chapter-3 schemes -Admissible date of Export/Period Posted: 17 Jan 2010 07:01 AM PST In Appendices 37A, 37C, and 37D, the following is added after the existing note(s)."Note for Admissible Date of Export/ Period: The admissible date of export for claiming benefits is 27.8.2009, unless a specific date of export / period is specified... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]

DGFT circular on insertion of Para 6.31 in HBP v 1 2009-14 Posted: 17 Jan 2010 06:46 AM PST Insertion of Para 6.31 in HBP v 1 2009-14. In exercise of powers conferred under Para 2.4 of the Foreign Trade Policy, 2009-14, the Director General of Foreign Trade hereby makes the following amendments in the Handbook of Procedures (Vol. 1),... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]

DGFT circular on amendment in chapter 8 of FTP regarding mega power projects Posted: 17 Jan 2010 06:42 AM PST "Further, supply of goods required for the expansion of existing mega power project as specified in Sl. no 400A of DoR Notification 21/2002- Customs dated 1.3.2002, as amended shall also be eligible for deemed export benefits as mentioned in... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]

Custom notification amending Principal notification No. 36/2001-Customs (N.T.) dated the 3rd August, 2001 Posted: 17 Jan 2010 06:26 AM PST S. O… (E) – In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following further amendment in the... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]

Custom duty circular amending Notification No.21/2002-Customs, dated the 1st March, 2002 – Effective Rate of Duty Posted: 17 Jan 2010 06:15 AM PST G.S.R. (E).- -In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]

Company Law Board – National Company Law Tribunal – An Analysis Posted: 17 Jan 2010 06:00 AM PST We all know about the dispute resolution mechanism under the provisions of Companies Act, 1956. Till 2002 amendments to the Companies Act, 1956, significantly, the dispute resolution mechanism was vested with the Company Court and the Company Law... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]

Tax Gurus failed to find Potholes in Wealth Tax under DTC Posted: 17 Jan 2010 05:12 AM PST The direct tax code is unique in its approach in so far it prescribes a threshold limit of Rs.50 Crore. But it is to be understood only in respect of two taxable entities namely: 1.Individuals and 2. Hindu Undivided Family. However, the third... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]

You are subscribed to email updates from LEGAL & FINANCIAL UPDATES FROM TAX GURU To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610

--
Palash Biswas
Pl Read:
http://nandigramunited-banga.blogspot.com/