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
itatonline.org
Only the latest & most important updates on taxation
Download Draft General Anti-Avoidance Rules (GAAR) Guidelines
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
Transfers & Postings In International Taxation & Transfer Pricing
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
Transfers & Postings Of Additional/ Joint Commissioners of Income-tax
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
Notification Exempting Advocates From Service-tax
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
List Of Income Tax Officers Being Considered For Promotion To ACITs
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
Awards Scheme For the Income-tax Department’s Officers & Staff
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
List of Dy Commissioners In Line For Promotion To Joint Commissioners
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
Transfer of Hon’ble ITAT Member (June 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 Naresh K Saini, Accountant Member, Income Tax Appellate Tribunal, Bangalore Benches, Bangalore has been transferred in public interest, in the same capacity to the Income Tax Appellate Tribunal, Jodhpur Benches, Jodhpur with immediate effect
Adjustment Of Refunds Against Arrears: CBDT Circular
In the category of cases where based on the figure of arrear demand uploaded by the Assessing Officer but disputed by the assessee, the Centralized Processing Center (CPC), Bengaluru has already adjusted any refund arising out of processing of return, the jurisdictional Assessing Officer shall verify the claim of the assessee on merits. After due verification of any such claim on merits, the Assessing Officer shall issue refund of the excess amount, if any, so adjusted by CPC due to inaccurate figures of arrear demand uploaded by the Assessing Officer. The Assessing Officer, in appropriate cases, will also upload amended figure of arrear demand on the Financial Accounting System (FAS) portal of Centralized Processing Center (CPC), Bengaluru wherever there is balance outstanding arrear demand still remaining after aforesaid correction/ reconciliation
Recent Comments