Sunday, September 25, 2011

Fwd: TaxGuru : “Filing of e-return by Legal Heir (LH) using DSC – Revised Process” plus 25 more



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From: TaxGuru.in - Daily Tax and Corporate Law Update <info@taxguru.in>
Date: Sun, Sep 25, 2011 at 10:04 AM
Subject: TaxGuru : "Filing of e-return by Legal Heir (LH) using DSC – Revised Process" plus 25 more
To: palashbiswaskl@gmail.com


TaxGuru : "Filing of e-return by Legal Heir (LH) using DSC – Revised Process" plus 25 more

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Filing of e-return by Legal Heir (LH) using DSC – Revised Process

Posted: 24 Sep 2011 09:03 PM PDT

This is regarding cases where the assessee has expired but a return has to be filed by LH using his DSC. Following process is suggested in above regard : The legal heir (LH) has to get a DSC in his own name. LH is required to make a request by...

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How to e-file Service tax Return in ACES?

Posted: 24 Sep 2011 08:08 PM PDT

How to e-file return in ACES? Log onto www.aces.gov.in and Click 'Service Tax' Link on top menu bar. If you are registered with ACES, use your username and password to log-in. Select your return from RET menu and submit self-assessed...

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How to Pay MCA 21 Fees / ROC fees Via NEFT (Updated)

Posted: 24 Sep 2011 08:01 PM PDT

Currently MCA21 payments are allowed via Credit Card, Internet Banking & Physical Challan. The Ministry has authorized 5 banks (Indian Bank, HDFC, ICICI, PNB and SBI) for collection of MCA21 fees, which means that only the account holders of...

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Transfer Pricing – Benchmark cannot be applied on a global basis but has to be on a transaction basis ; Tribual explains Important Principles of Cost Plus, CUP and TNMM

Posted: 24 Sep 2011 07:28 PM PDT

ACIT vs. Tara Ultimo Private Limited (ITAT Mumbai) The application of Cost Plus Method thus provides for (i) ascertaining the direct and indirect costs of property transferred, or services rendered, to the associated enterprises; (ii) ascertaining...

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Company can follow cash accounting system for tax purposes even though section 209(3) of Companies Act mandates accrual system

Posted: 24 Sep 2011 07:12 PM PDT

DCIT vs. Stup Consultants Pvt Ltd (ITAT Mumbai) (Decided on 09.09.2011) Assessee has been following cash system of accounting and this method has been regularly employed by the assessee in recording its day today business transaction. It is not a...

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Transfer Pricing – Important Law On 'Comparable Uncontrolled Transaction' Explained

Posted: 24 Sep 2011 06:51 PM PDT

DCIT vs. BP India Services Pvt Ltd (ITAT Mumbai) - Decisive factors for determining inclusion or exclusion of any case in/from the list of comparables are the specific characteristics of services provided , assets employed, risks assumed, the...

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Service Tax on Goods Transport Agency – Pay peanuts worry extra

Posted: 24 Sep 2011 08:49 AM PDT

Since inception year 1997, Goods Transport Agency (GTA) Service is caught by bundles of controversies like a celebrity always stay for the publicity stunt. Service Tax Legislation was just 3 years old and one can forget the childish introduction of...

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Intervention by Dr. D. Subbarao, Governor, Reserve Bank of India at IMF Meeting on September 23, 2011

Posted: 24 Sep 2011 04:32 AM PDT

There is a great deal of anxiety around the world about the outcome of this weekend's Fund-Bank annual meetings and the G-20 meetings. There are strong expectations that we will converge on a plan of action that will reverse the crisis of...

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Understanding Deemed Dividend with Latest Case Laws

Posted: 24 Sep 2011 04:25 AM PDT

Manish Kumar Agarwal, FCA Now a days, in a modern organization , there will exist a complicate business structure of holding & subsidiary companies along with closely held companies. There will be routine flow of funds between these companies....

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IRDA guidelines on Health Insurance Portability – Portability to commence from 1-10-2011

Posted: 23 Sep 2011 10:57 PM PDT

The IRDA, vide Circular, dated 10-2-2011, had issued guidelines on portability of health insurance policies which was to be introduced from 1-7-2011. Subsequently, on 24-6-2011, it was felt necessary to put in place a system to enable collection of...

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Broad parameters for banks and NBFCs to set up Infrastructure Debt Funds (IDFs)

Posted: 23 Sep 2011 10:34 PM PDT

The Reserve Bank has announced today that banks and Non Banking Financial Companies (NBFCs) would be eligible to sponsor Infrastructure Debt Funds (IDFs), to be set up as Mutual Funds (MFs) and NBFCs. The Securities and Exchange Board of India...

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S. 2(15) charitable purpose where ICAI was alleged for indulging in "Commerce" for its coaching classes – HC rejected that same do not amounts to "business"

Posted: 23 Sep 2011 10:00 PM PDT

ICAI & ANR. vs DGIT (EXEMPTIONS) (Delhi HC)- Even if the profits earned are used for charitable purposes, but fee, cess or consideration is charged by a person for carrying on any activity in the nature of trade, commerce or business or any...

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SEBI (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2011

Posted: 23 Sep 2011 09:55 PM PDT

NOTIFICATION NO. LAD-NRO/GN/2011-12/25/30309 These Regulations may be called the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2011.

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SEBI (Substantial Acquisition of shares and Takeovers) Regulations, 2011

Posted: 23 Sep 2011 09:50 PM PDT

NOTIFICATION F.NO. LAD-NRO/GN/2011-12/24/30181 Substantial acquisition of shares or voting rights- (1) No acquirer shall acquire shares or voting rights in a target company which taken together with shares or voting rights, if any, held by him and...

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External Commercial Borrowings (ECB) – Rationalisation and Liberalisation

Posted: 23 Sep 2011 09:39 PM PDT

A.P. (DIR Series) Circular No.27, On a review of the extant ECB policy, it has been decided, in consultation with the Government of India, to further rationalise and liberalize the ECB guidelines as under:- (i) Enhancement of ECB limit under the...

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External Commercial Borrowings (ECB) – Bridge Finance for Infrastructure Sector

Posted: 23 Sep 2011 09:32 PM PDT

A.P. (DIR Series) Circular No. 26 Considering the specific needs of the infrastructure sector, the existing ECB policy has been reviewed in consultation with the Government of India and it has been decided to allow Indian companies which are in the...

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Section 620A of the Companies Act, 1956 – Nidhis/Mutual Benefit Societies – Power to modify Act, in relation to nidhis, etc. – Amendment in Notification No. G.S.R. 978(E), dated 28-5-1963

Posted: 23 Sep 2011 09:31 PM PDT

NOTIFICATION NO. G.S.R. 679(E), DATED 14-9-2011 - In exercise of the powers conferred by sub-sections (1) and (2) of section 620A of the Companies Act, 1956 (1 of 1956), the Central Government hereby directs that in Schedule-I annexed to the...

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FEMA – External Commercial Borrowings (ECB) for the Infrastructure Sector– Liberalisation

Posted: 23 Sep 2011 09:30 PM PDT

A.P. (DIR Series) Circular No. 25- As per extant guidelines, repayment of existing Rupee loans is not a permissible end-use for ECB. Considering the specific needs of the infrastructure sector, the existing ECB policy has been reviewed in...

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Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and consequential amendments to Clause 35 of the Equity Listing Agreement

Posted: 23 Sep 2011 09:27 PM PDT

Consequential amendments to be carried out in Clause 35 of the Listing Agreement, pursuant to SAST Regulations 2011 are given in Annexure – 1 to this circular. Stock Exchanges are advised to carry out the said amendments in their Listing Agreement...

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G24 Intervention of Finance Minister after taking over the Chair

Posted: 23 Sep 2011 04:44 PM PDT

It is a great honour to take over the chair of G24 and I thank you for enabling it. I bring greetings from all the people of India. South Africa and its dynamic Finance Minister Mr Pravin J Gordhan has successfully steered this...

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Export of non-Basmati rice by the Public Sector Undertakings and Government organizations under Food Aid Programme and Under bi-lateral Trade Agreement between Government of India and Government of Maldives

Posted: 23 Sep 2011 04:13 PM PDT

Notification No 76 (RE – 2010)/2009-2014 - As it was the situation earlier, now export of non-Basmati rice under Food Aid Programme is permitted freely by PSUs or by government organizations also. Export of non-Basmati rice under agreement...

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Anand Sharma Pushes for Free Movement of Professionals between India-US

Posted: 23 Sep 2011 03:50 PM PDT

Shri Anand Sharma Commerce, Industry and Textiles Minister of India along with Shri Pranab Mukherjee, Finance Minister and Deputy Chairman, Planning Commission led the Government of India delegation to the India-U.S. CEO Forum meeting in Washington...

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Intervention of FM at the G20 Finance Ministers' and Central Bank Governors' Dinner Meeting

Posted: 23 Sep 2011 03:47 PM PDT

First, it is worth considering whether we are giving excessive weightage to the balance and sustainable elements of the Framework, and too little to strong growth. The question of growth is particularly relevant at this juncture, when the recent...

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BRICS Finance Ministers' Joint Communiqué Issued at the end of Meeting in Washington

Posted: 23 Sep 2011 03:46 PM PDT

While BRICS countries recovered quickly from the 2008-09 global financial crisis, some of us have been subject to inflationary pressures and growth prospects of all our countries have been dampened by global market instability. In advanced...

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Text of the Address of Union Finance Minister's Address to BRICS

Posted: 23 Sep 2011 02:48 PM PDT

We are meeting here at the time when global economic growth seems to be losing its momentum after about a year and half of fragile and uneven recovery. There are signs of economic and financial weaknesses in Europe and the US that threaten the...

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Seeks to specify "resident public limited company" – Notification No. 67 /2011-Cus (N.T.)

Posted: 21 Sep 2011 09:00 PM PDT

Notification No. 67 /2011-Cus (N.T.) public limited company" shall have the same meaning as is assigned to "public company" in clause (iv) of sub-section (1) of section 3 of the Companies Act , 1956 ( 1 of 1956) and shall include a private company...

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Palash Biswas
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