The United Kingdom’s HM Revenue & Customs has issued a Consultation Paper dated 23.07.2012 called “Lifting the lid on Tax Avoidance Schemes” to discuss how Tax Avoidance Schemes are created and what steps can be taken to expose them. The Paper also describes proposals for revising and extending the Disclosure of Tax Avoidance Schemes (DOTAS) regime
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Guide To Service-tax On Advocates From 1.07.2012 Onwards
Despite the previous clarification, a number of queries have continued to be raised on various aspects of the exemption/ reverse charge on service-tax on Advocates’ services. To resolve all queries, CA Rajkamal Shah, a well known expert in the filed, …
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Exemption To Salaried Employees From Filing ROI For AY 2012-13
Press Release dated 20.07.2012 issued by the Ministry of Finance: Exemption of Salaried Employees from Requirement of Filing of Returns for Assessment Year 2012-13
Transfer of Hon’ble ITAT Member (July 2012)
Vide order 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, Shri D. Karunakara Rao,, Accountant Member, Income Tax Appellate Tribunal, Hyderabad Benches, Hyderabad has been transferred in public interest, in the same capacity to the Income Tax Appellate Tribunal, Mumbai Benches, Mumbai with immediate effect
Chief Commissioners/ Director Generals With Additional Charge
Vide Order No. 143 of 2012 dated 13.07.2012, the CBDT has nominated the officers to hold additional charge in place of the Chief Commissioners & Director Generals who have been selected for the Advanced Mid Career Training Programme
Finance Ministry’s Presentation On Changes To Service-tax Law In Budget 2012
The Ministry of Finance has released a power-point presentation on 13.07.2012 explaining the entire concept of service-tax and the changes made thereto by the Finance Act 2012 in a simple and easy-to-understand format. The presentation will be useful for all tax professionals
Constitution Of Expert Committee on GAAR
The Prime Minister has approved the constitution of an Expert Committee on GAAR to undertake stakeholder consultations and finalise the guidelines for GAAR. This committee would manage the consultation process and finalise the draft GAAR Guidelines
List Of Chief Commissioners’ Selected For Training Programme In The USA
Vide letter dated 11.07.2012, the CBDT has released a list of Chief Commissioners of Income-tax who have been selected for “Advanced Mid-Career Training Programme” which entails a 3 weeks in Bangalore and 2 weeks in the USA
Press Release On Obligation Of Deductor To Ensure Correct TDS Credit To Recipient
In case the income on which tax has been deducted at source is assessable in the hands of a person other than the deductee, the deductee must file a declaration with the deductor that credit for the TDS shall be given to the other person and not to the deductee. The declaration filed by the deductee must contain the name, address, Permanent Account Number of the person to whom credit is to be given and reasons for giving credit to such person. The deductor must, in the TDS statement, report the tax deduction in the name of such other person and also issue the TDS certificate in the name of the person in whose name credit is shown in the TDS statement
Change in constitution of Dispute Resolution Panel
Vide Order No. 6/FT&TR/2012 dated 10.07.2012, the CBDT has constituted the Dispute Resolution Panel at Delhi, Mumbai, Pune, Kolkata, Ahmedabad, Hyderbad, Bangalore & Chennai
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