Fwd: TaxGuru.in : Legal & Tax Updates

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From: LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in>
Date: Sun, May 1, 2011 at 9:43 AM
Subject: TaxGuru.in : Legal & Tax Updates
To: palashbiswaskl@gmail.com

TaxGuru.in : Legal & Tax Updates

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• Download Capital Gain calculator on Sale of Shares and Mutual Funds – LTCG, STCG
• Income Tax Calculator for Salaried Employee for FY 2011-12, 2010-11, 2009-10
• Automatic Due Date Reminder Calender for Financial Year 2010-11
• To qualify u/s. 194J, payment for technical services should be a consideration for acquiring or using technical know-how
• Guwahati High Court stays notification levying service tax on lawyers
• Rural households in India paid over Rs 470cr bribe for basic services
• New Validation regarding TDS transactions not exceeding / exceeding threshold limit in quarterly e-TDS/TCS statement pertaining to FY 2010-11 and onwards
• Infrastructure claims paid to franchisees vs. Rent u/s 194I
• TDS on Commission and Supplementary Commission received by travel agents
• Whether difference between commercial price and published price can be classified as commission or not?
• Do facilities provided by hotels –fall under the term "carrying out work"
• Do hire charges with respect to hire equipment automatically call for TDS u/s 194C?
• Whether hire of trucks without contract for carriage is covered under Sec 194C?
• Trade Negotiators given Guidelines
• PM's Address at the Inauguration of the New Headquarters of the Central Bureau of Investigation
• ICAI President's Message – May 2011 – (30-04-2011)
• RBI – Working Group on Information Security, Electronic Banking, Technology Risk Management and Cyber Frauds- Implementation of recommendations
• Kamath appointed chairman of Infosys; Shibulal as CEO
• Transfers/ Postings of Additional/ Joint/ Deputy/ Assistant Commissioners of Income-tax
• Declaration For Proposed Tax Saving Investment and Expenditures For F.Y. 2011-12
• Articleship Leave Calculator with Form 119 for CA students
• TDS Chart for Financial Year 2010-11 / Assessment year 2011-12
• Download Sigma Dpmo Calculator

Download Capital Gain calculator on Sale of Shares and Mutual Funds – LTCG, STCG Posted: 30 Apr 2011 09:11 PM PDT Calculator to calculate Capital Gain on Sale of Shares and Mutual Funds - LTCG, STCG [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Income Tax Calculator for Salaried Employee for FY 2011-12, 2010-11, 2009-10 Posted: 30 Apr 2011 09:00 PM PDT Download Income Tax Calculator for Salaried Employee for Financial Year (FY) 2011-12, 2010-11, 2009-10 / Assessment Year 2012-13, 2011-2012, 2010-2011 in excel format category wise , Male/Female/Sr Citizen Age 60=80 Years. [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Automatic Due Date Reminder Calender for Financial Year 2010-11 Posted: 30 Apr 2011 07:24 PM PDT Automatic Due Date Reminder Calender for Financial Year 2010-11. This Calender contains due dates of all the statutory and other Reports to be presented to Management and Banks. NT DUE DATES UNDER VARIOUS LAWS & AS PER BUSINESS NEEDS FROM APRIL... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

To qualify u/s. 194J, payment for technical services should be a consideration for acquiring or using technical know-how Posted: 30 Apr 2011 09:19 AM PDT Payments made to NSICT were for container movement and there were no professional or technical services involved in the movements of containers. The contention was restricted only to the technical services and not towards managerial or consultancy... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Guwahati High Court stays notification levying service tax on lawyers Posted: 30 Apr 2011 08:53 AM PDT The Bar Association of Gauhati has filed a Writ Petition in the Gauhati High Court to challenge the levy of service-tax on "Legal Consultancy Services". The High Court has on 29th April 2011 said the matter requires in-depth scrutiny and directed... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Rural households in India paid over Rs 470cr bribe for basic services Posted: 30 Apr 2011 08:27 AM PDT Ranging from Re one to Rs 950, rural households in the country could have paid a whopping Rs 471.8 crore last year as bribe to avail basic facilities such as ration, health, education and water supply, says a study. The 'India Corruption Study 2010... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

New Validation regarding TDS transactions not exceeding / exceeding threshold limit in quarterly e-TDS/TCS statement pertaining to FY 2010-11 and onwards Posted: 30 Apr 2011 08:19 AM PDT A. Procedure for preparation of return. Deductors' Manual for Quarterly Correction Returns B. Data structure (File Format) For statements pertaining to FY 2010-11 and onwards File Format for Form 24Q (1st, 2nd & 3rd Quarters). ... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Infrastructure claims paid to franchisees vs. Rent u/s 194I Posted: 30 Apr 2011 08:06 AM PDT Held that the agreement was in fact a franchisee agreement and it could not be said that the rent was being paid by the assessee company to the licensee franchisee. There was no payment of rent by the assessee company to the licensees/franchisees... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

TDS on Commission and Supplementary Commission received by travel agents Posted: 30 Apr 2011 08:04 AM PDT It was held that tax should be deducted at source under Section 1 94H on amount available to agents being difference between airfare fixed by Airlines and price at which agents are enabled to sell tickets. Around the World Travels & Tours Pvt.... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Whether difference between commercial price and published price can be classified as commission or not? Posted: 30 Apr 2011 07:58 AM PDT CIT v. Qatar Airways (332 ITR 253) - The agents of the assessee (airline) were entitled to sell tickets at any price between the fixed commercial price and the published price. As a result the assessee would have no information regarding the final... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Do facilities provided by hotels –fall under the term "carrying out work" Posted: 30 Apr 2011 07:50 AM PDT The word "carrying out work" u/s 194C is limited to any work which on being carried out culminates into a product or result (reliance was placed on the decision of the SC in case of Associated Cements). Circular 681 dated 3 March 1994 to the extent... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Do hire charges with respect to hire equipment automatically call for TDS u/s 194C? Posted: 30 Apr 2011 07:47 AM PDT In the absence of any such acceptable material, the conclusion of the AO in treating the hiring of equipment as one falling under the category of sub-contract for provision of labour or the conclusion of the CIT(A) that at least 10% of the total... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Whether hire of trucks without contract for carriage is covered under Sec 194C? Posted: 30 Apr 2011 07:43 AM PDT There is no material on record brought by the AO to prove that there was any written or oral agreement between the assessee and the transporter for carriage of goods. There is no material to establish that any payment exceeded the prescribed limits... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Trade Negotiators given Guidelines Posted: 30 Apr 2011 06:32 AM PDT The Trade and Economic Relations Committee held its 17th meeting on the 29th April 2011 under the chairmanship of the Prime Minister. The committee reviewed the status of the India-European Union Bilateral Trade and Investment Agreement and... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

PM's Address at the Inauguration of the New Headquarters of the Central Bureau of Investigation Posted: 30 Apr 2011 06:30 AM PDT Over the years, the CBI has evolved into the premier investigating agency of the country. There is a loud clamour for the investigation to be handed over to the CBI, whenever there is a gruesome crime, a complex case, a politically sensitive matter... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

ICAI President's Message – May 2011 – (30-04-2011) Posted: 30 Apr 2011 06:13 AM PDT Filing Statements in XBRL and Implications: As you may be aware that the Ministry of Corporate Affairs has released a circular mandating certain class of companies in phase one for filing financial statements for the year ending 31st March, 2011, in... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

RBI – Working Group on Information Security, Electronic Banking, Technology Risk Management and Cyber Frauds- Implementation of recommendations Posted: 30 Apr 2011 04:25 AM PDT As you are aware, following the announcement in the April 2010 Monetary Policy Statement, the Working Group on Information Security, Electronic Banking, Technology Risk Management and Cyber Frauds was constituted, under the Chairmanship of Shri G.... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Kamath appointed chairman of Infosys; Shibulal as CEO Posted: 30 Apr 2011 03:54 AM PDT In a major top-level management restructuring, India's second largest software firm Infosys today named veteran banker K V Kamath as the new chairman to succeed founder N R Narayana Murthy, who retires in August. The over USD 6-billion Infosys... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Transfers/ Postings of Additional/ Joint/ Deputy/ Assistant Commissioners of Income-tax Posted: 30 Apr 2011 01:39 AM PDT Vide Order No. 75 of 2011 dated 30.04.2011, the CBDT has transferred / posted Additional/ Joint/ Deputy/ Assistant Commissioners of Income-tax. Ordrer no. 75 of 2011 [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Declaration For Proposed Tax Saving Investment and Expenditures For F.Y. 2011-12 Posted: 29 Apr 2011 08:17 PM PDT Declaration For Proposed Tax Saving Investment and Expenditures For F.Y. 2011-12. Form for sending particulars of Income under section 192(2B) for the year ending 31st March 2012. Format of letter asking staff to submit proof of Investment made and... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Articleship Leave Calculator with Form 119 for CA students Posted: 29 Apr 2011 08:05 PM PDT Articleship Leave Calculator with Form 119 for CA students. This calculator will help students of IPCC, PCC and PE II to know the Leave they are eligible and excess or shortage of Leave taken. [[ This is a content summary only. Visit www.taxguru.in for full article ]]

TDS Chart for Financial Year 2010-11 / Assessment year 2011-12 Posted: 29 Apr 2011 07:47 PM PDT Download Easy TDS Chart for Financial Year 2010-11 / Assessment year 2011-12 [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Download Sigma Dpmo Calculator Posted: 29 Apr 2011 07:37 PM PDT This would help you to easily calculate the current Sigma Level of your Process. Sigma Level from DPMO. Sigma Level from Quality Yield (Yield = 1 - % defective). Sigma Level for DPM for Non Centered Process - Assumes 1.5 sigma shift (Normal... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

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