The CBDT has issued a circular dated 28.05.2012 stating that it has launched an internship programme in the Foreign Tax & Tax Research Division. The objective is to enable the department to critically analyze various aspects of International Taxation, Transfer Pricing, Advance Pricing Agreements etc on the basis of refreshing ideas from the filed of academics. A stipend is payable. The terms and conditions are stated in the Circular

The Finance Act 2012 as approved by the President on 28.05.2012 is available for download

CBDT Instruction No. 4/2012 [F. No. 225/34/2011-ITA.II], dated 25-5-2012 On Processing Of Returns For AY 2011-12

The CBDT has issued Circular No. 02/2012 dated 22.5.2012 containing the explanatory notes to the provisions of the Finance Act 2011

The ICAI has issued on 22.5.2012 a document titled “Frequently Asked Questions (FAQs) on Revised Schedule VI to the Companies Act” to aid professionals to comply with the new regulations. Given the importance of Schedule VI to the Companies Act, the FAQ is of great relevance to auditors and tax professionals

Undisclosed Income of Rs.565 Crore Detected and Tax Rs.181 Crore Realized pursuant to the amended India-Swiss DTAA

PRANAB MUKHERJEE FINANCE MINISTER 16 May 2012 In the past year the public discourse on the issue of corruption and black money has come in the forefront with the active participation of the civil society and our Parliamentary institutions. Two …

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We regret to announce the tragic and untimely demise of Hon’ble Justice B. P. Saraf (Retd) on 15.5.2012

Vide Order No. 20 of 2012 dated 7.5.2012, the Chief Commissioner of Income-tax, Kolkata, has transferred several Income-tax Officers & Tax Recovery Officers with immediate effect

The following government amendments have been proposed in the provisions relating to General Anti-Avoidance Rules (GAAR) contained in the Finance Bill 2012