Fwd: TaxGuru : “How To download FUV file from NSDL Website to revise e-TDS return” plus 20 more

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From: TaxGuru.in - Daily Tax and Corporate Law Update <info@taxguru.in>
Date: Thu, Sep 8, 2011 at 10:14 AM
Subject: TaxGuru : "How To download FUV file from NSDL Website to revise e-TDS return" plus 20 more
To: palashbiswaskl@gmail.com

TaxGuru : "How To download FUV file from NSDL Website to revise e-TDS return" plus 20 more

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• How To download FUV file from NSDL Website to revise e-TDS return
• All in one Income Tax Calculator for Financial year 2011-2012 and Assessment Year 2012-2013
• FM wants CBDT to continuously evolve innovative way of taxation especially related to cross border taxation
• RBI Increasing Policy Rates to Contain Inflation
• Guidelines on NRI Marriages
• Renting of Immovable Property – HC extends Stay
• Provision made to incentivise performance of workers cannot be disallowed u/s 43B(c)
• Depreciation on cooling chambers of the cold storage is allowable at the rate of 25%
• Once the CIT grants approval for registration of the trust u/s 12A, the AO not required to re-examine the the object and purpose of the trust
• Whether the expenses incurred on replacement of body of dumpers is revenue in nature ?
• Immovable properties used primarily for business purpose cannot be taxed under the Wealth Tax Act
• Interest on wrong availment of CENVAT credit shall be payable from the date CENVAT credit wrongly utilized
• Word 'erroneous' in section 263 includes failure to make an enquiry by the AO
• FM Stresses on Financial Inclusion; Says Banks Need to Keep A Strong Vigil on their Asset Quality
• External Commercial Borrowings – RBI simplifies procedure
• Deferred Payment Protocols between Government of India and erstwhile USSR
• Minimum Export Price of varieties of onions increased to 475 per Metric Ton F.O.B.
• Substitution of term Micro and Small Enterprises in place of 'Small Scale Industries' (SSI) in the documents
• Notification to extend the exemption to some additional goods when imported from Least Developed member-countries of SAARC under SAFTA
• Amends Notification No. 14/2010-Customs, dated the 20th February, 2010
• ICWA – Presidents Message September, 2011

How To download FUV file from NSDL Website to revise e-TDS return Posted: 07 Sep 2011 08:37 PM PDT How To download FUV file from NSDL Website 1. To revise the return , now you have to download the FVU file from website 2. Open the website. www.tin.nsdl.com 3. Choose the Option TAN Registration 4. Type your login details. 5. Select TDS/TCS... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

All in one Income Tax Calculator for Financial year 2011-2012 and Assessment Year 2012-2013 Posted: 07 Sep 2011 08:08 PM PDT All in one Income Tax Calculator for Financial year 2011-2012 and Assessment Year 2012-2013 - The Calculator have the the following features"- 1. It calculaate taxable Income and prepare Computation of Income. 2. It Prepares Form 16... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

FM wants CBDT to continuously evolve innovative way of taxation especially related to cross border taxation Posted: 07 Sep 2011 07:01 PM PDT To Achieve the Target of Direct Tax Revenue Collections of Rs.8.3 Lakh Crore and Direct Tax to GDP Ratio at 7.62 % by 2014-15, CBDT to Continuously Evolve Processes, Procedures Innovative Ways of Taxation Especially Related to Cross Border Taxation:... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

RBI Increasing Policy Rates to Contain Inflation Posted: 07 Sep 2011 06:56 PM PDT RBI has been increasing policy rates to contain inflation and inflationary expectation to prevent the economy from getting overheated. The Reserve Bank of India (RBI) has raised the policy rate (the repo rate) eleven times by a cumulative 325 basis... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Guidelines on NRI Marriages Posted: 07 Sep 2011 06:55 PM PDT Ministry of Overseas Indian Affairs had brought out a guidance booklet on 'Marriages to Overseas Indians' in 2007 which contains information on safeguards available to women deserted by their NRI spouses, legal remedies available, authorities that... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Renting of Immovable Property – HC extends Stay Posted: 07 Sep 2011 06:37 PM PDT Bombay High Court has extended the Stay until 30th September 2011, in the famous renting case – Retailers Association of India and others v Union of India . [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Provision made to incentivise performance of workers cannot be disallowed u/s 43B(c) Posted: 07 Sep 2011 05:30 AM PDT DCIT Vs M/s Sri Shanmugavel Mills Ltd (Madras High Court)- The facts of the case, thus show that the provisions made was not tax payment of bonus but payment, as part of the wages and as an incentive for the performance of the workers. [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Depreciation on cooling chambers of the cold storage is allowable at the rate of 25% Posted: 07 Sep 2011 05:07 AM PDT Shyam Enteprises Vs CIT (Allahabad High Court) - Amendment in S. 43 (3) w.e.f. 1.4.2004 does not make any change in the definition of the word 'plant', which remains an inclusive definition. It includes buildings or furniture and fittings, which are... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Once the CIT grants approval for registration of the trust u/s 12A, the AO not required to re-examine the the object and purpose of the trust Posted: 07 Sep 2011 05:00 AM PDT CIT Vs Saurashtra Kutch Stock Exchange Ltd ( HC of Gujarat at Ahmedabad ) - Once the CIT grants approval for registration of the trust u/s 12A, the AO is not required to re-examine the entire question of the object and purpose of the trust even... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Whether the expenses incurred on replacement of body of dumpers is revenue in nature ? Posted: 07 Sep 2011 04:43 AM PDT CIT Vs Manoj B Mansukhani (Gujrat Gigh Court) Income tax – Sections 10A, 37 - Whether where the assessee submits all the details to prove the expenses correctly, no disallowance can be made merely on the basis that stamp duty authority stating that... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Immovable properties used primarily for business purpose cannot be taxed under the Wealth Tax Act Posted: 07 Sep 2011 04:33 AM PDT CIT Vs Gujarat State Petroleum Corporation Ltd (Ahmedabad High Court)- In the instant case, the assessee-company has let out only a very small portion (i.e. less than 10%) of its office premises to the Directorate of Petroleum. Department of Energy... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Interest on wrong availment of CENVAT credit shall be payable from the date CENVAT credit wrongly utilized Posted: 07 Sep 2011 01:47 AM PDT M/s Flextronics Technologies (India) Pvt. Ltd. Vs. Commissioner of Central Excise (CESTAT Bangalore)- On a conjoint reading of Section 11AB of the Act and that of Rules 3 and 4 of the Credit Rules, we hold that interest cannot be claimed from the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Word 'erroneous' in section 263 includes failure to make an enquiry by the AO Posted: 07 Sep 2011 01:09 AM PDT Rain Commodities Ltd. Vs. Dy. CIT (ITAT Hyderabad) - Prejudicial to the interest of revenue appearing in section 263 is conjunction with the expression 'erroneous' and that every loss of revenue as a consequence of an order of the assessing officer... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

FM Stresses on Financial Inclusion; Says Banks Need to Keep A Strong Vigil on their Asset Quality Posted: 06 Sep 2011 10:00 PM PDT The Union Finance Minister Shri Pranab Mukherjee has said that the Central Government firmly believes that financial inclusion is a necessary condition for inclusive growth. He said that the Public Sector Banks (PSBs) have to play an important role... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

External Commercial Borrowings – RBI simplifies procedure Posted: 06 Sep 2011 09:30 PM PDT A. P. (DIR Series) Circular No. 11, - As a measure of simplification of the existing procedures, it has been decided to delegate powers to the designated AD Category-I banks to approve the request from the ECB borrowers with respect to change in the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Deferred Payment Protocols between Government of India and erstwhile USSR Posted: 06 Sep 2011 09:29 PM PDT Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No.41 dated February 11,... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Minimum Export Price of varieties of onions increased to 475 per Metric Ton F.O.B. Posted: 06 Sep 2011 09:28 PM PDT Minimum Export Price (MEP) of all varieties of onions including Bangalore Rose Onions and Krishnapuram Onions will be US$ 475 per Metric Ton F.O.B. It was US$ 300 per Metric Ton for general category onion as notified on 24.08.2011 and US$ 400 per MT... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Substitution of term Micro and Small Enterprises in place of 'Small Scale Industries' (SSI) in the documents Posted: 06 Sep 2011 09:28 PM PDT Copies of the notification No.S.O.1642 (E) dated September 29, 2006 issued by the Ministry of Small Scale Industries and S.O.563 (E) dated February 27, 2009 issued by Ministry of Commerce and Industry regarding substitution of term 'Micro and Small... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Notification to extend the exemption to some additional goods when imported from Least Developed member-countries of SAARC under SAFTA Posted: 06 Sep 2011 09:25 PM PDT Notification No. 85/2011-Customs, Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the goods of the description specified in column (3) of the Table hereto annexed and falling under the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Amends Notification No. 14/2010-Customs, dated the 20th February, 2010 Posted: 06 Sep 2011 09:25 PM PDT Notification No.86/2011-Customs, Whereas, on the basis of the Final Findings (Mid-Term Review) Notification No. 15/16/2009- DGAD, dated 8th June, 2011 of the designated authority, in exercise of the powers conferred by sub-sections (1) and (5) of... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

ICWA – Presidents Message September, 2011 Posted: 06 Sep 2011 01:02 PM PDT The Cost Accounting Standards Board Secretariat has prepared a revised Guidance Note on Cost Accounting Standard -4 (CAS-4). This note has been exposed for the public comments. The proposed Exposure Draft shall be modified in light of comments... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

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