Fwd: TaxGuru : “How to download online TDS Certificates in Form No. 16A from NSDL website” plus 18 more

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From: TaxGuru.in - Daily Tax and Corporate Law Update <info@taxguru.in>
Date: Fri, May 27, 2011 at 10:24 AM
Subject: TaxGuru : "How to download online TDS Certificates in Form No. 16A from NSDL website" plus 18 more
To: palashbiswaskl@gmail.com

TaxGuru : "How to download online TDS Certificates in Form No. 16A from NSDL website" plus 18 more

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• How to download online TDS Certificates in Form No. 16A from NSDL website
• DELHI HC upheld deduction claimed in respect of remuneration/royalty paid to subsidiaries and holding companies
• Delhi HC Rules – Learner's licence not valid to claim compensation
• Taxability of profit and loss arising on account of appreciation or depreciation in the value of foreign currency
• Tax paid by contractee on goods supplied to contractor, is allowable as Input Tax Credit to such contractor
• Despite detection in survey, No penalty under section 271(1)(c) – Delhi High Court
• Foreign corporates with subsidiaries in the country not subject to payment of withholding tax for financial services like discounting of bills provided to their Indian arms – AAR
• India inks DTAA with Ethiopia to check tax evasion
• RBI to soon release guidelines on new bank branches
• OECD pegs India's growth at 8.5 percent in 2011-12
• Regarding processing for or on behalf of client, in relation to agriculture – causing sale or purchase of agricultural produce
• Seeks to amend notification No. 51/2008-Customs dated 21st April, 2008 so as to enhance the duty free tariff rate quota (TRQ) of 8 million pieces of apparels in a calendar year exported from Bangladesh to 10 million pieces
• Export of Guar gum – DGFT Notification No 49 (RE – 2010)/2009-2014
• DGFT – Inclusion of the Jute Products Development and Export Promotion Council (JPDEPC) in Appendix 2 (List of Export Promotion Councils/ Commodity Boards/ Export Development Authorities) of the Handbook of Procedures Vol.I, 2009-2014
• Despite Loan, Shares Gain is STCG and Not Business Profit – ITAT Mumbai
• How to acquire digital signature certificate (DSC) and what are the charges?
• StCBs/DCCBs – Setting up of Central Electronic Registry under the SARFESAI Act, 2002 – RPCD.CO RCB.BC.No. 73/07.38.03/2010-11
• Companies(Central Government's) General Rules and Forms (Second Amendment) , 2011 – New Form No. 23D inserted effective from 29-05-2011
• Companies(Central Government's) General Rules and Forms (Amendment), 2011 – revision of Form No. 8 and 17, effective from 29-05-2011

How to download online TDS Certificates in Form No. 16A from NSDL website Posted: 26 May 2011 08:11 PM PDT In order to enable you to generate the TDS Certificates through TIN Website, you will be required to follow the following steps: 1. The deductor has to register their TAN with NSDL website. Click on the "Online TAN Registration" available in the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

DELHI HC upheld deduction claimed in respect of remuneration/royalty paid to subsidiaries and holding companies Posted: 26 May 2011 07:53 PM PDT CIT Vs. Nestle India Ltd. -The Delhi high court last week dismissed the appeal of the Commissioner of Income Tax in a dispute over the deduction claimed by IT return in respect of remuneration/royalty paid by it to other subsidiaries and holding... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Delhi HC Rules – Learner's licence not valid to claim compensation Posted: 26 May 2011 07:37 PM PDT New India Assurance Co. Ltd. vs Manjit Singh & Ors. on 18 May, 2011 - An insurance company would not be liable for payment of compensation in a motor vehicle accident if the driver had been transporting passengers on a learner's licence, the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Taxability of profit and loss arising on account of appreciation or depreciation in the value of foreign currency Posted: 26 May 2011 05:53 PM PDT CIT Vs Dalmia Dairy Industries Ltd (Delhi High Court) - Income tax – Capital or Revenue Receipt – Rule 115 – Whether, if assessee receives a sum on account of non-performance of the terms of the agreement by the purchaser under an arbitration award... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Tax paid by contractee on goods supplied to contractor, is allowable as Input Tax Credit to such contractor Posted: 26 May 2011 11:28 AM PDT The Punjab & Haryana High Court has held in an important case namely Lajpat Rai Chanana V State of Haryana & others (2011) 38 PHT 390 (P&H) that input tax credit to a works contractor executing the works contract will be justified if... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Despite detection in survey, No penalty under section 271(1)(c) – Delhi High Court Posted: 26 May 2011 11:05 AM PDT CIT vs. SAS Pharmaceuticals (Delhi High Court) Though it is possible that but for detection in the survey, the assessee might not have offered the income, penalty u/s 271(1)(c) can only be levied if "in the course of proceedings" the AO is satisfied... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Foreign corporates with subsidiaries in the country not subject to payment of withholding tax for financial services like discounting of bills provided to their Indian arms – AAR Posted: 26 May 2011 10:35 AM PDT A.A.R. No. 840 of 2010 in the case of ABC International Inc. USA- Foreign corporates with subsidiaries in the country are not subject to payment of withholding tax for financial services like discounting of bills provided to their Indian arms. In a... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

India inks DTAA with Ethiopia to check tax evasion Posted: 26 May 2011 10:03 AM PDT India has signed a Double Taxation Avoidance Agreement (DTAA) with Ethiopia to check tax evasion and facilitate exchange of banking information. The agreement was signed by External Affairs minister S M Krishna and Ethiopia's minister of Finance and... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

RBI to soon release guidelines on new bank branches Posted: 26 May 2011 09:55 AM PDT The Reserve Bank will soon release guidelines for implementing its proposal to locate at least a quarter of the new bank branches in the unbanked areas, which generally fall in the rural areas. RBI will issue guidelines for 25% rural branches soon,... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

OECD pegs India's growth at 8.5 percent in 2011-12 Posted: 26 May 2011 09:50 AM PDT The OECD on Wednesday pegged India's growth at 8.5 per cent for the current fiscal, indicating that economic expansion would be slower. The Organisation for Economic Cooperation and Development has projected the Indian economy to expand 8.5 per cent... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Regarding processing for or on behalf of client, in relation to agriculture – causing sale or purchase of agricultural produce Posted: 26 May 2011 08:18 AM PDT Circular No. 143/12/ 2011 – ST Representations have been received that client processing of tobacco involving threshing and drying of tobacco leaves and client processing of raw cashew involving roasting/drying, shelling and peeling of raw cashew to... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Seeks to amend notification No. 51/2008-Customs dated 21st April, 2008 so as to enhance the duty free tariff rate quota (TRQ) of 8 million pieces of apparels in a calendar year exported from Bangladesh to 10 million pieces Posted: 26 May 2011 08:14 AM PDT Notification No. 42 /2011-Customs , New Delhi dated the 25th May, 2011 In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Export of Guar gum – DGFT Notification No 49 (RE – 2010)/2009-2014 Posted: 26 May 2011 08:08 AM PDT DGFT Notification No 49 (RE – 2010)/2009-2014 - Notification No. 47 of 18.05.2011 stipulating export of Guar gum to EU to be allowed only if it does not contain Penta Chlorophenol (PCP) in any proportion, has been rescinded. Thus, the earlier... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

DGFT – Inclusion of the Jute Products Development and Export Promotion Council (JPDEPC) in Appendix 2 (List of Export Promotion Councils/ Commodity Boards/ Export Development Authorities) of the Handbook of Procedures Vol.I, 2009-2014 Posted: 26 May 2011 08:05 AM PDT DGFT Public Notice No. 48 /2009-2014 (RE-2010) The 25th May, 2011 Earlier, JMDC was issuing RCMC for exporters of jute and jute products. Henceforth, JPDEPC will issue RCMC for exporters of jute and jute products in place of JMDC. Listing of JPDEPC... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Despite Loan, Shares Gain is STCG and Not Business Profit – ITAT Mumbai Posted: 26 May 2011 07:48 AM PDT Mahendra C Shah vs. Addl CIT (ITAT Mumbai) - The fact that the assessee borrowed for the purpose of buying shares is not conclusive that the assessee intended to do business in shares and not merely invest in them if the interest is capitalized as... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

How to acquire digital signature certificate (DSC) and what are the charges? Posted: 26 May 2011 12:23 AM PDT The Ministry of Corporate Affairs has stipulated a Class-II or above category certificate for e-filings under MCA21. A person who already has the specified DSC for any other application can use the same for filings under MCA21 and is not required to... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

StCBs/DCCBs – Setting up of Central Electronic Registry under the SARFESAI Act, 2002 – RPCD.CO RCB.BC.No. 73/07.38.03/2010-11 Posted: 25 May 2011 09:30 PM PDT RPCD.CO RCB.BC.No. 73/07.38.03/2010-11 It may be noted that initially transactions relating to securitization and reconstruction of financial assets and those relating to mortgage by deposit of title deeds to secure any loan or advances granted by... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Companies(Central Government's) General Rules and Forms (Second Amendment) , 2011 – New Form No. 23D inserted effective from 29-05-2011 Posted: 25 May 2011 09:30 PM PDT 1, (1) These rules may be called the Companies (Central Government's) General Rules and Forms ( Amendment ) Rules 2011. (2) They shall come into force with effect from 29th May, 2011. 2. In the Companies (Central Government's) General Rules and... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Companies(Central Government's) General Rules and Forms (Amendment), 2011 – revision of Form No. 8 and 17, effective from 29-05-2011 Posted: 25 May 2011 09:30 PM PDT In exercise of the powers conferred by sub-section (1) of section 642 read with section 610B of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following rules further to amend the Companies (Central Government's)... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

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