Professionals like Chartered Accountants and Lawyers are liable to pay profession tax in the State of Maharashtra. Registration of Profession Tax (PTEC/PTRC) is mandatory from 1/4/2012. To aid the process of e-registration/ e-enrollment, the Sales-tax department department has issued a useful guide dealing with all the issues that will arise during the process and how to resolve those
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Change in Constitution of Bombay High Court’s Tax Bench w.e.f. 02.04.2012
Change in Constitution of Bombay High Court’s Tax Bench w.e.f. 01.04.2012
Transfers of Hon’ble ITAT Members (March 2012)
Vide Order dated 29.3.2012 passed in Pursuance of the consultations of the collegiums of the Income tax Appellate Tribunal consisting of the President and two senior-most Vice-Presidents. The following Members of the Income Tax Appellate Tribunal are hereby transferred, in public interest, in the same capacity to the Bench(es) of the Income tax Appellate Tribunal as shown against their names.with effect from the forenoon of 9th April 2012
ITAT Bar Seeks Judicial Probe Into Allegations Of Corruption In The ITAT
The ITAT Bar Association has addressed a representation dated 9.3.2012 to Shri. Shri Salman Khurshid, Hon’ble Minister for Law & Justice, expressing deep concern over the apparant lack of progress in the investigation into the charges of alleged corruption in the Tribunal. The Bar Association has suggested that as the matter is a judicial one, it ought to be referred to a Judge for inquiry. The Bar Association has explained how this is the best course of action in the circumstances and expressed the confidence that if speedily implemented, the glory of the Tribunal can be restored.
Appointment of ITOs As Assistant Commissioners of Income-tax
The CBDT has vide Order No. 60 of 2012 dated 28.3.2012 informed that the President has appointed several Income Tax Officers, presently posted in the region shown against their names, to officiate on regular basis in the
grade of Assistant Commissioner of Income Tax (ACIT) in the pay scale of Rs 15,600-39,100/- (Plus Grade Pay of Rs.5400/- in Pay Band-3) with immediate effect and
until further orders. The CCIT (CCA) concerned, to which the officers are posted, shall ensure that they are clear from Vigilance angle, no disciplinary / criminal proceedings are pending against them and are not under suspension before they are allowed to assume charge as ACIT on in-situ basis and till their formal posting is decided by the Competent Authority/ Placement Committee
Download UN Model Double Taxation Convention 2011 (March 2012 Release)
The 2011 update of the UN Model Convention was launched on 15.3.2012. The UN Model Convention, authored by the UN Committee of Experts on International Cooperation in Tax Matters, replaces the 1999 version of the Convention, published in 2001. The updated version aims to provide assistance to negotiation of modern bilateral double-tax treaties, especially by developing countries, reflecting these countries’ current circumstances and policy priorities. The main objective of this revision has been to take account of developments in the area of international tax policies in the last decade
How To Seek Online Rectification Of S. 143(1) Intimation: CPC Manual
The Centralized Processing Center (‘CPC’), Bangalore, of the income-tax department has released a Manual-cum-Guide on how to submit Online Rectification Request to rectify intimation order issued under section 143 (1). The Manual explains the common errors that one will encounter during the process and explains how they can be resolved. The Manual will help preparation of an accurate rectification request and ensure proper resolution from CPC and issue of a rectification order
CBDT Sets Up ‘Advisory Group for International Taxation and Transfer Pricing’
F. No. 500/54/2012-FTD.I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Foreign Tax & Tax Research Division-I Room No. 907, ‘C’ Wing, Hudco Vishala Building, Bhikaji Cama Place, R.K. Puram, N. Deihi Dated 22.03.2012 …
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CBDT’s List Of Potential Promotees to Post of Assistant CITs
The CBDT has vide letter dated 23.03.2012 released a list of Income-tax Officers who are in the consideration zone for promotion to the grade of Assistant Commissioner of Income-tax
DRP Revised Constitution w.e.f. 21.03.2012
In partial modification of Order No. 1/FT&TR/2012 and in exercise of powers conferred under section 144C of the income Tax Act, 1961, the Board hereby constitutes the Dispute Resolution Panel (DRP) comprising of three Commissioners of Income Tax/Directors of Income Tax as Members of DRPS at Mumbai-1, Chennai and Bangalore, who shall perform such duties in addition to their regular duties with immediate effect and until further order
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