Fwd: TaxGuru.in : Legal & Tax Updates

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From: LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in>
Date: Wed, Sep 15, 2010 at 9:41 AM
Subject: TaxGuru.in : Legal & Tax Updates
To: palashbiswaskl@gmail.com

TaxGuru.in : Legal & Tax Updates

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• ICAI Constitutes Panel To Develop Alternative Dispute Resolution Mechanism
• Companies Bill 2009- Auditors To Pay Investors For Fraud By Companies
• Tax Officials Scrutinising Cross-border Mergers Like The Vodafone-Hutchison Deal For Possible Tax Evasion
• Company Law Judicial Interpretation Transfer Of Shares Of A Public Company
• Highlights Of The Report Of The Standing Committee On Finance Of The Parliament On The Companies Bill 2009
• Tax Audit Season Is On - Rush To Your CA
• No Withholding Tax Liability In Case Of Payment Made To Producers Directors And Actors For Financing Film Production Under Sections 194C And 194J Of
• Onus Is On Assessee To Submit Relevant Data Which Must Be Examined By The Revenue For ALP Determination By Applying Prescribed Methods
• Income From Services In Connection With Seismic Surveys Data Acquisition Processing And Interpretation Of Such Data Is Covered Under Section 44BB Of
• Customs - Notification No 92 2010 - Exempts Goods Imported Under The Export Promotion Capital Goods EPCG Scheme
• The Cost And Works Accountants Amendment Bill 2010
• The Companies Bill 2009 As Presented To Lok Sabha On 31 August 2010

ICAI Constitutes Panel To Develop Alternative Dispute Resolution Mechanism Posted: 15 Sep 2010 04:14 AM PDT Announcement - Constitution of a Group - 14-09-2010 September 13 2010 The Council at its 296th meeting held on 29th 30th June and 1st July 2010 while considering an issue raised by CA Sanjay Kumar Agarwal under Ite [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Companies Bill 2009- Auditors To Pay Investors For Fraud By Companies Posted: 14 Sep 2010 06:39 AM PDT The new Companies Bill could contain a provision that will make auditors compensate retail investors in cases of corporate fraud a measure aimed at bringing in more accountability into audit profession In a representation made before [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Tax Officials Scrutinising Cross-border Mergers Like The Vodafone-Hutchison Deal For Possible Tax Evasion Posted: 14 Sep 2010 06:35 AM PDT Tax officials are scrutinising other cross-border mergers like the Vodafone-Hutchison deal for possible tax evasion after the Bombay High Court rejected a petition against imposition of tax on the deal a key finance ministry offi [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Company Law Judicial Interpretation Transfer Of Shares Of A Public Company Posted: 14 Sep 2010 06:57 AM PDT In a recent judgement a Division Bench of the Bombay High Court has held among other things that in case of a public company the agreements between the shareholders which provides for restrictions on free transfera [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Highlights Of The Report Of The Standing Committee On Finance Of The Parliament On The Companies Bill 2009 Posted: 14 Sep 2010 06:54 AM PDT Companies Bill 2009 the Bill was introduced on 3rd August 2009 in the Lok Sabha and was referred to the Standing Committee on Finance of the Parliament the SCF for examination and report The Bill seeks to codify a ne [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Tax Audit Season Is On - Rush To Your CA Posted: 14 Sep 2010 03:53 AM PDT The Tax Audit season has started and it s the time when the Assessees rush to their Chartered Accountants CA to get their Tax Audit done in time and CA s work overnight to get the audits of their clients done in time In t [[ This is a content summary only. Visit www.taxguru.in for full article ]]

No Withholding Tax Liability In Case Of Payment Made To Producers Directors And Actors For Financing Film Production Under Sections 194C And 194J Of Posted: 12 Sep 2010 07:38 AM PDT In a recent decision in the case of Entertainment One India Ltd v ITO 2010-TIOL-210-ITAT-MUM the assessee the Income-tax Appellate Tribunal the Tribunal has held that there is no liability to withhold tax under sections [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Onus Is On Assessee To Submit Relevant Data Which Must Be Examined By The Revenue For ALP Determination By Applying Prescribed Methods Posted: 12 Sep 2010 07:35 AM PDT The Mumbai Bench of Income-tax Appellate Tribunal the Tribunal in its recent ruling in the case of M s Hinduja TMT Ltd 2010-T11-18-ITAT-MUM-TP has held that the onus is on the assessee to prove the arm s length nature of its [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Income From Services In Connection With Seismic Surveys Data Acquisition Processing And Interpretation Of Such Data Is Covered Under Section 44BB Of Posted: 12 Sep 2010 07:24 AM PDT Income from services in connection with seismic surveys data acquisition processing and interpretation of such data is covered under Section 44BB of the IT Act 1961 and cannot be regarded as fees for technical services [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Customs - Notification No 92 2010 - Exempts Goods Imported Under The Export Promotion Capital Goods EPCG Scheme Posted: 14 Sep 2010 04:29 AM PDT Customs - Notification No 92 2010 Dated Friday September 10 2010 - Amends Notification Nos 100 2009 101 2009 102 2009 103 2009 and 104 2009-Customs all dated 11th September 2009 - Exempts goods imported under the Export Prom [[ This is a content summary only. Visit www.taxguru.in for full article ]]

The Cost And Works Accountants Amendment Bill 2010 Posted: 12 Sep 2010 10:56 AM PDT The Cost and Works Accountants Amendment Bill 2010 introduced in Rajya Sabha on 28 April 2010 was referred to the Committee on 4 May 2010 for examination and report thereon by the Speaker Lok Sabha in consultation with the Cha [[ This is a content summary only. Visit www.taxguru.in for full article ]]

The Companies Bill 2009 As Presented To Lok Sabha On 31 August 2010 Posted: 12 Sep 2010 10:54 AM PDT TWENTY- FIRST REPORT STANDING COMMITTEE ON FINANCE 2009-2010 FIFTEENTH LOK SABHA THE COMPANIES BILL 2009 MINISTRY OF CORPORATE AFFAIRS Presented to Lok Sabha on 31 August 2010 Laid in Rajya Sabha on 31 August 2010 [[ This is a content summary only. Visit www.taxguru.in for full article ]]

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