tag:blogger.com,1999:blog-2215214366585605842024-03-05T23:00:59.672+05:30CA. Vinod DasaniUseful Statutory updates can be found here....CA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.comBlogger56125tag:blogger.com,1999:blog-221521436658560584.post-65433363412138590142009-07-01T15:48:00.001+05:302009-07-01T15:48:35.148+05:30New TDS rules kept in abeyanceTechnorati Tags: Form 17,UTN,New TDS rules PRESS RELEASE New Delhi dated 30th June 2009 The Central Board of Direct Taxes have further decided that the Notification No. 31 of 2009 dated 25.3.2009 amending or substituting Rules 30, 31, 31A and 31AA of the Income Tax Rules, 1962 shall be kept in abeyance for the time being. Taxpayers filing their income tax returns for assessment year (AY)CA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.com0tag:blogger.com,1999:blog-221521436658560584.post-53903863609620260382009-06-08T18:37:00.001+05:302009-06-08T18:37:05.507+05:30MVAT – Works contract with land (Amendment in MVAT Rules)Technorati Tags: VAT 1507/CR-53/Taxation-1 Dt.01.06.09,Contract with land , Rule 58 of MVAT FINANCE DEPARTMENT, Mantralaya, Mumbai 400 032, dated the 1st June 2009 NOTIFICATION Maharashtra Value Added Tax Act, 2002. No. VAT-1507/CR-53/Taxation-1.- Whereas the Government of Maharashtra is satisfied that circumstances exist which render it necessary to take immediate actionCA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.com0tag:blogger.com,1999:blog-221521436658560584.post-41180031487669175272009-05-29T10:12:00.001+05:302009-05-29T10:12:13.229+05:30Govt clears the way for big SEZsTechnorati Tags: SEZ,Special Economic Zone,limit of 5000 hectares 29 May 2009, 0125 hrs IST, Amiti Sen, ET Bureau NEW DELHI: The government has decided not to apply an area limit of 5,000 hectares for special economic zones (SEZs) if two or more such zones are merged, clearing the way for big SEZs in the country. In an amendment to the SEZ rules, the government has also allowed developers CA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.com0tag:blogger.com,1999:blog-221521436658560584.post-79913832780887142782009-05-27T12:40:00.001+05:302009-05-27T12:40:37.048+05:30US House Panel approves Climate change billTechnorati Tags: Climate Change bill,CDM,US on Climate Change,Obama's eyes on Copenhagen WASHINGTON, May 21 (Reuters) - President Barack Obama's fight against global warming got a huge boost on Thursday when a key congressional panel embraced his plan to create a new, market-driven system for reducing greenhouse gas emissions. The House of Representatives Energy and Commerce Committee, with a CA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.com0tag:blogger.com,1999:blog-221521436658560584.post-27169936667308579842009-05-22T10:51:00.001+05:302009-05-22T10:51:09.509+05:30Circular No. 03/2009, dtd 21/5/09 – Re. New return forms for AY 2009-10Technorati Tags: Circular No. 03/2009,dated 21/5/2009,New Income Tax (IT) Return forms,AY 2009-10 NEW RETURN FORMS FOR ASSESSMENT YEAR 2009-10 MATTERS CONNECTED THERETO CIRCULAR NO. 03 / 2009, DATED 21-5-2009 The Central Board of Direct Taxes have, vide notification S.O. No.866 (E) dated 27th, March, notified the following new forms for Assessment Year 2009-10 :- (i) ITR-1 return of income CA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.com0tag:blogger.com,1999:blog-221521436658560584.post-76761935031390784302009-05-22T10:45:00.001+05:302009-05-22T10:45:48.678+05:30Circular No. 2/2009 dtd. 21/5/2009 – Re. New TDS & TCS paymentTechnorati Tags: Circular No. 2/2009,dated 21/5/2009,New TDS & TCS Payment,Notification No. 858(E) NEW TDS AND TCS PAYMENT AND INFORMATION REPORTING SYSTEM- NOTIFICATION NO. 858(E), DATED 25th MARCH, 2009 PUBLISHED IN OFFICIAL GAZETTE CIRCULAR NO. 02 / 2009, DATED 21-5-2009 The Finance Act, 2008 inserted a new sub-section (1A) in section 143 of the Income-tax Act, 1961 empowering the CA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.com0tag:blogger.com,1999:blog-221521436658560584.post-40276988144377417342009-05-13T13:56:00.001+05:302009-05-13T14:08:21.715+05:30New TDS notification postponed – Press releaseTechnorati Tags: TDS provisions delayed,Form No. 17 postponed Press release No.402/92/2006-MC (11 of 2009) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE The Central Board of Direct Taxes have decided to defer the implementation of Notification No.31/2009 dated 25.3.2009 amending or substituting Rules 30, 31, 31A and 31AA CA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.com0tag:blogger.com,1999:blog-221521436658560584.post-18278305006427705252009-05-07T10:55:00.001+05:302009-05-07T10:55:21.463+05:30CLARIFICATION ON FORM 17 SOUGHT BY ICAI5th May, 2009 Mr. S.S.N. Moorthy, Chairman Central Board of Direct Taxes Department of Revenue Ministry of Finance Government of India North Block New Delhi – 110 001 Respected Sir, Sub: Clarification regarding new Form No.17 The Income-tax Rules relating to time and mode of payment to Government account of - (1) tax deducted at source; or (2) tax paid under Chapter CA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.com0tag:blogger.com,1999:blog-221521436658560584.post-34251388356508807332009-05-02T13:01:00.001+05:302009-05-02T13:01:44.363+05:30MVAT - Date of efiling VAT Returns Extended up to 10th May 2009Date of efiling MVAT Returns extended up to 10th May 2009 Trade Cir. No. 16 T of 2009 No.VAT/VAT Ret/ Mumbai, Dt.30.04.2009 Sub: Relaxation of the due date for the uploading of e returns for the period ending March 2009 Ref: Trade Circular No 16T of 2008 dated 23-4-2008. Gentlemen/Sir/Madam, 1. The due date for filing of returns of all periodicities for the period ending March 2009CA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.com0tag:blogger.com,1999:blog-221521436658560584.post-56629443765919956912009-04-24T17:07:00.001+05:302009-04-24T17:09:08.129+05:30Depreciation on new commercial vehicles – date extendedIncome-tax (Eleventh Amendment) Rules, 2009 - Amendment in New Appendix 1 \NOTIFICATION NO. 37/2009 [F.No.142/01/2009-TPL], DATED 21-4-2009 In exercise of the powers conferred by section 295 of the Income -tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules 1962. Namely:– 1. (1) These rules may be CA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.com0tag:blogger.com,1999:blog-221521436658560584.post-52393081967770246612009-04-16T17:32:00.001+05:302009-04-16T17:34:54.426+05:30Amendment in Form 3CD - Notification No. 36/2009 dtd. 13/4/2009Income-tax (Tenth Amendment) Rules, 2009 - Amendment in Form No. 3CDNOTIFICATION NO. 36/2009, DATED 13-4-2009In exercise of the powers conferred by section 295 read with section 44AB of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely : –1. (1) These rules may be called the CA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.com0tag:blogger.com,1999:blog-221521436658560584.post-18202650921294313012009-04-15T10:55:00.001+05:302009-04-15T10:59:33.588+05:30Most Important Announcement for Audit firms of Listed Companies - (08-04-2009)Most Important Announcement for Audit firms of Listed Companies - (08-04-2009)Members may be aware that the Council had accepted the recommendation of Securities & Exchange Board of India (SEBI) that audit of listed companies shall be carried out by the auditors who have undergone Peer Review Process and have been issued Peer Review Certificate by the Peer Review BoardThe above decision is CA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.com0tag:blogger.com,1999:blog-221521436658560584.post-73197004878386777782009-04-06T19:27:00.004+05:302009-04-06T19:34:26.065+05:30CBDT has notifed new Income Tax forms for FY 2008-09 (AY 2009-10)The CBDT has notified new Income Tax Forms for F.Y. 2008-09 Income Tax Forms A.Y. 2009-10. via vide notification No. 32/2009 (Income-tax 9th Amendments) Rules, 2009.New ITR Forms Form ITR 1, Form ITR 2, Form ITR 3, From ITR 4, Form ITR 5, Form ITR 6, Form ITR 7, Form ITR 8, and ITR V, will be available on Income Tax website very soon. The detail notification is as under.Notification - Income Tax CA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.com0tag:blogger.com,1999:blog-221521436658560584.post-92202155053224343052009-03-30T12:59:00.003+05:302009-03-30T13:03:46.248+05:30Furnishing of information under sub-section (6) of section 195Income-tax (Seventh Amendment) Rules, 2009 - Insertion of rule 37BBNotification No. 30/2009 [F. No. 142/19/2007-TPL]/S.O. 857(E), dated 25-3-2009In exercise of the powers conferred by section 295 read with sub-section (6) of section 195 of the Income-tax Act, 1961, the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-1. (1) CA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.com0tag:blogger.com,1999:blog-221521436658560584.post-54388980724486366302009-03-30T12:40:00.004+05:302009-03-30T12:46:02.580+05:30Notification for change in the Format of Form 16/16AANOTIFICATION NO 31/2009, Dated: March 25, 2009In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:1. (1) These rules may be called the Income-tax (8th Amendment) Rules, 2009.(2) They shall come into force on the 1st day of April, 2009.2. CA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.com0tag:blogger.com,1999:blog-221521436658560584.post-17410650653481910702009-03-27T12:20:00.002+05:302009-03-27T12:23:22.954+05:30Luxury Tax on luxuries provided in hotels from 1st May 04 to 30th Apr 058th floor, Vikrikar Bhavan,Mazgaon, Mumbai-400010.TRADE CIRCULARTo……………………………………………………No.LTR-2009/1/Adm-29/B-139 Mumbai, Dt.25.03.2009Trade Cir. No. 11 T of 2009Sub: Luxury Tax on luxuries provided in hotels from 1st May2004 to 30th April 2005.Ref: 1) Notification No.LTA-1090/179/ Taxation-2 dated 21stJanuary, 1992.2) Notification No.LTA-1090/CR-47/ Taxation-2 dated18th November, 2008Gentlemen/CA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.com0tag:blogger.com,1999:blog-221521436658560584.post-21396014835485484682009-03-25T15:22:00.001+05:302009-03-25T15:23:55.142+05:30PTI Report: Tax on CER'sIndia wants to close tax loopholes on CERs: report Published: 23 Mar 2009 19:12 CET India is planning to make companies pay more in tax from sales of carbon credits. That's according to a report by the Press Trust of India, citing an unnamed official with India's finance ministry.The PTI cited a study commissioned by the government which found that 98 per cent of companies had not made tax CA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.com0tag:blogger.com,1999:blog-221521436658560584.post-33301989841846930812009-03-25T15:08:00.002+05:302009-03-25T15:11:54.502+05:30Pending P’s under B.S.T. & C.S.T. Acts up to P year 2004-05 and instructions for disposal thereofOffice of the Commissioner of Sales Tax,Vikrikar Bhavan, 9th Floor, E-Wing,Mazgaon, Mumbai - 400 010.Tel.No.- 022/23760957/0958Trade CircularTo,----------------------------------------,----------------------------------------,----------------------------------------,----------------------------------------.No.IMC10.09/PP/Adm-12/B- 523 Mumbai, dt.- 23.03.2009(Circular No. 10 T of 2009)Subject :- CA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.com0tag:blogger.com,1999:blog-221521436658560584.post-14593625982034367262009-03-25T15:05:00.001+05:302009-03-25T15:08:17.181+05:30Filing of revised return as advised by the Auditor in Audit Report8th floor, Vikrikar Bhavan,Mazgaon, Mumbai-400010.TRADE CIRCULARTo……………………………………………………No.VAT/MMB-1006/152/Adm-6 Mumbai, Dt.21.03.2009Trade Cir. No. 9 T of 2009Sub: Filing of revised return as advised by the Auditor inAudit Report.Ref: Trade circular No. 26T of 2006 dated 18.9.2006.Gentlemen/Sir/Madam,Certain queries have been received from the trade andassociations, as also from departmental CA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.com0tag:blogger.com,1999:blog-221521436658560584.post-8160927047548179142009-03-25T10:52:00.001+05:302009-03-25T10:55:56.306+05:30SMS BASED SERVICE FOR CHALLAN STATUSSMS BASED SERVICE FOR CHALLAN STATUSNational Securities Depository Limited (NSDL) provides CIN (ChallanIdentification Number) based view of direct tax challans to taxpayers to knowthe status of challan on its web-site. In addition to the above facility, NSDL haslaunched a Short Message Service (SMS) based facility to know the status of itschallans. The procedure for availing this facility is as CA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.com0tag:blogger.com,1999:blog-221521436658560584.post-56520490555744633392009-03-19T12:45:00.002+05:302009-03-19T12:48:50.571+05:30Credit for tax deducted at source for the purposes of section 199Income-tax (Sixth Amendment) Rules, 2009 - Insertion of rule 37BA and 37-INOTIFICATION NO. 28/2009, DATED 16-3-2009In exercise of the powers conferred by section 295 read with sub-section (3) of section 199 and sub-section (4) of section 206C of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, CA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.com0tag:blogger.com,1999:blog-221521436658560584.post-84366113025658713852009-03-02T11:12:00.000+05:302009-03-02T11:14:01.074+05:30Applicability of the provisions of the Export of Services Rules, 2005 in certain situationsCircular No.111/05/2009-STF.No.137/307/2007-CX.4 (Pt.)Government of IndiaMinistry of FinanceDepartment of Revenue(Central Board of Excise & Customs)*****New Delhi, dated the 24th February, 2009.Subject: Applicability of the provisions of the Export of Services Rules, 2005 in certain situationsIn terms of rule 3 (2) (a) of the Export of Services Rules 2005, a taxable service shall be treated CA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.com0tag:blogger.com,1999:blog-221521436658560584.post-70594389722949469722009-03-02T11:09:00.000+05:302009-03-02T11:11:50.775+05:30Service Tax - Repair/ renovation/ widening of roadsCircular No. 110/4/2009-ST.F. No. 345/ 17 /2008-TRUGovernment of IndiaMinistry of FinanceDepartment of RevenueTax Research Unit*****New Delhi, the 23rd February, 2009.Subject: Reference from Commissioner Nashik seeking clarification in respect of levy of service tax on Repair/ renovation/ widening of roads – Regarding. Representations have been received by the Board pointing out CA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.com0tag:blogger.com,1999:blog-221521436658560584.post-3015589371113977782009-02-25T12:33:00.006+05:302009-02-25T12:52:22.154+05:30Central Excise - Reduction in ratesGOVERNMENT OF INDIAMINISTRY OF FINANCE(DEPARTMENT OF REVENUE)New Delhi, the 24th February 2009Notification No. 4/2009 - Central ExciseG.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby directs that each of the CA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.com0tag:blogger.com,1999:blog-221521436658560584.post-19795560694497794932009-02-25T11:37:00.001+05:302009-02-25T11:40:50.504+05:30Notification for reduction in Service Tax Rate to 10 pcGOVERNMENT OF INDIAMINISTRY OF FINANCE(Department of Revenue)New Delhi, dated the 24th February, 2009Notification No. 8 /2009 – Service TaxG.S.R. (E). – In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act), the Central Government, on being satisfied that it is necessary in the public interest so to CA. Vinod Dasanihttp://www.blogger.com/profile/03720355147450580805noreply@blogger.com0