Fwd: TaxGuru : “Clarification on Point of taxation Rules in respect of ‘Completion of service’” plus 17 more

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From: TaxGuru.in - Daily Tax and Corporate Law Update <info@taxguru.in>
Date: Tue, Jul 19, 2011 at 9:59 AM
Subject: TaxGuru : "Clarification on Point of taxation Rules in respect of 'Completion of service'" plus 17 more
To: palashbiswaskl@gmail.com

TaxGuru : "Clarification on Point of taxation Rules in respect of 'Completion of service'" plus 17 more

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• Clarification on Point of taxation Rules in respect of 'Completion of service'
• Canada Tax Court Explains Tax Avoidance and General Anti Avoidance Rule (GAAR)
• Despite Tax Avoidance, 100 Per cent Depreciation on Sale and Lease Back Allowable – Delhi High Court
• Transferred Officers not Relieved – CBEC viewed non-compliance of its orders very seriously
• Dr. M.Virappa Moily gives away ICWAI 8th National Awards for excellence in Cost Management 2010
• Copyright Board Reconstituted
• Amendment in Schedule XIII of the Companies Act 1956 regarding approval of Central Government for a subsidiary of a listed company
• FAQ on Exemption from filing of Income-tax Return for Salaried having total income not exceeding Rs. 5,00,000
• RBI's Master Circular, dated 1-7-2011 on Credit Card Operations of banks
• Regarding continuation of anti-dumping duty on 1,1,1,2 – tetrafluoroethane or 134a
• Regarding Handling of Cargo in Customs Areas Regulations, 2009
• SEBI CIR/MRD/DP/ 10 /2011 -Establishment of Connectivity with both depositories NSDL and CDSL – Companies eligible for shifting from Trade for Trade Settlement (TFTS) to normal Rolling Settlement
• CBI raids Paramount Group office, residence of airline MD in connection with non-repayment of a large amount of bank loans
• New Companies Bill to come up in monsoon session – Corporate Affairs Minister
• Supreme Court Recalls its Directions to MoD in Pushpavanti Case
• Hasan Ali Khan stashed $800 million in banks in countries like U.S., Switzerland and Singapore
• Import of Sensitive Items During April-March 2011
• Notification Amending Form No. 1A vide Notification Dated 14th July 2011

Clarification on Point of taxation Rules in respect of 'Completion of service' Posted: 18 Jul 2011 08:00 PM PDT CIRCULAR NO. 144/13/2011-ST Dated: July 18, 2011 Representations requesting clarification on 'completion of service' as provided under the Point of Taxation Rules, 2011 and Service Tax Rules, 1994 have been received from certain sections of... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Canada Tax Court Explains Tax Avoidance and General Anti Avoidance Rule (GAAR) Posted: 18 Jul 2011 07:43 PM PDT TRIAD GESTCO LTD. VERSUS HER MAJESTY THE QUEEN (Canada Tax Court) - The transactions undertaken by the appellant amount to abusive tax avoidance because they defeat the underlying rationale of the capital loss provisions in the Act. Through the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Despite Tax Avoidance, 100 Per cent Depreciation on Sale and Lease Back Allowable – Delhi High Court Posted: 18 Jul 2011 07:13 PM PDT CIT vs. Cosmo Films Ltd (Delhi High Court) - High Court observed that if the sale and lease back agreement between the assessee and the OSEB indicate that the assessee had purchased the plant and machinery from OSEB for a price and had leased out... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Transferred Officers not Relieved – CBEC viewed non-compliance of its orders very seriously Posted: 18 Jul 2011 06:56 PM PDT F. No.A-22013/07/201 1-Ad.II Please refer to Board's Order No.123/2011 dated 22.06.2011 vide which officers in the grade of Deputy/Assistant Commissioner of Customs & Central Excise were transferred in AGT-201 1. In terms of the said Order,... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Dr. M.Virappa Moily gives away ICWAI 8th National Awards for excellence in Cost Management 2010 Posted: 18 Jul 2011 06:32 PM PDT Union Minister of Corporate Affairs Dr. M. Virappa Moily today presented the ICWAI 8th National Awards for excellence in Cost Management 2010 to the representatives of leading industrial organisations both in the public sector as well as the private... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Copyright Board Reconstituted Posted: 18 Jul 2011 06:31 PM PDT The Department of Higher Education, Ministry of Human Resource Development has reconstituted the Copyright Board, as per section 11 of the Copyright Act, 1957 by appointing Justice Ramesh Chandra Chopra (retired) as the Chairman of the Copyright... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Amendment in Schedule XIII of the Companies Act 1956 regarding approval of Central Government for a subsidiary of a listed company Posted: 18 Jul 2011 07:41 AM PDT Provided further that approval of Central Government is not required for a subsidiary of a listed company, if — i. the Remuneration Committee and Board of Directors of the holding company give their consent for the amount of such remuneration of... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

FAQ on Exemption from filing of Income-tax Return for Salaried having total income not exceeding Rs. 5,00,000 Posted: 18 Jul 2011 07:32 AM PDT What is the purpose of this notification and who are proposed to be exempted from the requirement of filing of the return? 1. The primary objective of this notification is to exempt those salaried taxpayers from the requirement of filing income-tax... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

RBI's Master Circular, dated 1-7-2011 on Credit Card Operations of banks Posted: 18 Jul 2011 07:24 AM PDT CIRCULAR NO. DBOD.NO.FSD.BC. 14 / 24.01.011/ 2011-12 urpose To provide a framework of rules/regulations/standards/practices to the credit card issuing banks/NBFCs for their credit card business and ensure that the same are in alignment with the best... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Regarding continuation of anti-dumping duty on 1,1,1,2 – tetrafluoroethane or 134a Posted: 18 Jul 2011 06:45 AM PDT NOTIFICATION No. 61 /2011-Customs, New Delhi, 15th July, 2011 Whereas, in the matter of imports of 1, 1, 1, 2-Tetrafluoroethane or R-134a of all types (hereinafter referred to as the subject goods), falling under sub heading 2903 3919 of the First... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Regarding Handling of Cargo in Customs Areas Regulations, 2009 Posted: 18 Jul 2011 06:40 AM PDT Circular No. 29/2011-Customs Board clarifies that Commissioner of Customs, subject to his satisfaction, should not insist for residential accommodation for staff from CCSP in cases where concerned facility of CCSP is located in the city area. The... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

SEBI CIR/MRD/DP/ 10 /2011 -Establishment of Connectivity with both depositories NSDL and CDSL – Companies eligible for shifting from Trade for Trade Settlement (TFTS) to normal Rolling Settlement Posted: 18 Jul 2011 06:35 AM PDT CIR/MRD/DP/ 10 /2011 , Dated - July 18, 2011It is observed from the information provided by the depositories that the companies listed in Annexure 'A' have established connectivity with both the depositories. 2. The stock exchanges may consider... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

CBI raids Paramount Group office, residence of airline MD in connection with non-repayment of a large amount of bank loans Posted: 18 Jul 2011 02:07 AM PDT CBI today raided the office of the Paramount Group and residence of Paramount Airways Managing Director M Thiagarajan in connection with alleged financial transactions. CBI officials said the raids were conducted in connection with non-repayment of... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

New Companies Bill to come up in monsoon session – Corporate Affairs Minister Posted: 18 Jul 2011 01:09 AM PDT Corporate Affairs Minister Veerappa Moily on Monday said the Companies Bill 2009, which promises greater shareholder democracy and stricter corporate governance norms, will be brought before Parliament for consideration and passage in the monsoon... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Supreme Court Recalls its Directions to MoD in Pushpavanti Case Posted: 18 Jul 2011 12:00 AM PDT The Supreme Court has recalled its order given on 15 November last year in which it had directed MoD to set up a Commission to look into the grievances of serving and former soldiers of the Armed Forces. In the same order, the Apex Court had made a... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Hasan Ali Khan stashed $800 million in banks in countries like U.S., Switzerland and Singapore Posted: 17 Jul 2011 11:41 PM PDT Hasan Ali Khan, arrested for alleged money laundering, has stashed $800 million in banks in countries like the U.S., Switzerland and Singapore and has links with officials of these banks, the Enforcement Directorate told the Bombay High Court on... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Import of Sensitive Items During April-March 2011 Posted: 17 Jul 2011 10:08 PM PDT Total import of sensitive items for the period April-March 2011 has been Rs. 70656 crores as compared to Rs. 65565 crores during the corresponding period of last year thereby showing an increase of 7.8%. The gross import of all commodities during... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Notification Amending Form No. 1A vide Notification Dated 14th July 2011 Posted: 17 Jul 2011 06:43 PM PDT (1) These rules may be called the Companies (Central Government's) General Rules and Forms (Amendment) Rules, 2011. (2) They shall come into force with effect from 24th July, 2011. [[ This is a content summary only. Visit www.taxguru.in for full article ]]

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