The Standing Committee on Finance in the Lok Sabha has delivered a comprehensive report on the Companies Bill 2011. The report was presented to the Hon’ble Speaker of the Lok Sabha on 26.06.2012

Vide letter dated 28.06.2012, the Director General of Income-tax has issued draft guidelines in respect of the General Anti-Avoidance Rules (GAAR). GAAR is scheduled to become applicable w.e.f. 1.4.2013. The guidelines contain illustrations to explain how the GAAR provisions will apply together the draft of the forms required to be filled in

Vide Office Order dated 27.06.2012, the Director General of Income-tax (International Taxation) has transferred and posted several officers in the cadre of Additional & Joint Directors of International Taxation and Transfer Pricing with immediate effect

Vide Order No. 131 dated 26.06.2012 the CBDT has transferred and posted several officers in the grade of Additional/ Joint Commissioners of Income-tax with immediate effect

The Ministry of Finance has issued a Notification No. 25/2012 dated 20.6.2012 exempting services provided by an individual as an advocate or a partnership firm of advocates by way of legal services to, (i) an advocate or partnership firm of advocates providing legal services; (ii) any person other than a business entity; or (iii) a business entity with a turnover up to rupees ten lakh in the preceding financial year

The CBDT has issued a letter dated 20.6.2012 listing out the names of the Income Tax Officers who are in the zone of consideration for being promoted to the post of Assistant Commissioners of Income-tax

The Hon’ble Finance Minister has approved a scheme of awards to Officers and Staff of the Income Tax department who render exceptional meritorious service and display outstanding devotion to duty

Vide letter dated 21.06.2012, the CBDT has released a list of Deputy Commissioners of Income-tax who are being considered for promotion to the grade of Joint Commissioner of Income-tax on ad-hoc basis