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IndianCAs: New TDS rules at a glance [1 Attachment]

[Attachment(s) from Aditya Maheshwari included below]Dear Sir, Please find enclosed herewith the New TDS rules w. e. f. 01st July, 2010. Kindly take note of the same. Regards CA Aditya Maheshwari
__._,_.___ Attachment(s) from Aditya Maheshwari 1 of 1 File(s) New TDS RULES.xls Reply to sender | Reply to group | Reply via web post | Start a New Topic Messages in this topic (1) Recent Activity:New Members27Visit Your Group We are on Facebook, join:
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Clean Energy Cess Rules, 2010

NOTIFICATION NO06/2010-Clean Energy Cess, Dated : June 22, 2010In exercise of the powers conferred by Section 84 of the Finance Act, 2010 (14 of 2010), the Central Government hereby makes the following rules, namely:- Chapter 1 PRELIMINARY 1. Short title, extent and commencement .- (1) These rules may be called the Clean Energy Cess Rules, 2010.2. They extend to the whole of India. . They shall come into force on the 1st day of July, 2010. 2. Definitions. - In these rules, unless the context otherwise requires, – (a) "Act" means the Finance Act, 2010 (14 of 2010); (b) "Board" means the Central Board of Excise and Customs constituted under the Central Boards of Revenue Act, 1963 (54 of 1963); (c) "cess" means the Clean Energy Cess levied under section 83 of the Act; (d) "Central Excise Officer" shall have the meaning assigned to it in the Central Excise Act, 1944(1 of 1944); (e) "mine" shall have the meaning assigned to it under Mines A…

View TDS Credit with Free of cost

New facility added in "My Account" for registered E-filers to View the Tax Credit Statement (Form 26AS) to verify if the tax payments made by you or TDS deducted from salary or interest etc are correctly reported to the Department.
https://incometaxindiaefiling.gov.in/portal/index.jsp
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Best Wishes

CA. V.M.V.SUBBA RAO
Chartered Accountant
Door No.24-2-1885,
I Floor, Flat No.5,
Siddivinayaka Residency, I Cross,
Central Avenue, MSR Nagar,
Magunta Layout,
Nellore-524 003
Andhra Pradesh
India
Mobile:+91 - 0 9390221100
          +91 - 0 9440278412
e-Mail: vmvsr@rediffmail.com
vmvsr@yahoo.co.uk
http://pdicai.org/MyPage/203038.aspx

Notifications issued bY CBEC on 22/06/2010

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]Government of IndiaMinistry of Finance(Department of Revenue)New Delhi, the 22nd June, 2010.Notification No. 25 / 2010 - Central Excise (N.T.)G.S.R.(E). – In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944) and section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the CENVAT Credit Rules, 2004, namely:- 1.(1) These rules may be called the CENVAT Credit (Second Amendment) Rules, 2010. (2) They shall come into force on the date of their publication in the Official Gazette. 2.In the CENVAT Credit Rules, 2004, in rule 2, in clause (a), after sub-clause (B), the following sub-clause shall be inserted, namely:- "(C)dumpers or tippers, falling under Chapter 87 of the First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986), registered in the name of provider of output service f…

VAT on petroleum Products- Presss note

Monday, June 21, 2010Ministry of Petroleum & Natural Gas
SHRI DEORA CALLS UPON STATE GOVERNMENTS TO BRING DOWN HIGH RATES OF VAT ON PETROL DIESEL ; REPLACE AD-VALOREM LEVIES BY SPECIFIC ONES
HIGH VAT RATES BY SOME STATES ON PDS KEROSENE NEEDS REVIEW IN VIEW OF LIGHTING AND COOKING USAGE BY THE COMMON MAN 17:31 IST ShriMurliDeoraDeora, Minister of Petroleum and natural gas has called upon the State Governments to reduce and rationalize Sales Tax / VAT on Petrol and Diesel. Ina letter tothe CMs of various State Governments he said thata rise in the international oil prices exerts an upward pressure on domestic prices of petroleum products."Ad valorem rates of VAT imposed by the State Governments further aggravates the impact of international oil prices on the consumer," ShriDeora added.The Minister underscored the commitment of the Central Governmentto ensuring supply of essential fuels to the common man at affordable rates. "To achieve this objective, the Central Gove…

Analysis on Revised DTC by BMR

ANALYSIS ON REVISED DIRECT TAXES CODE BY BMR ADVISORS - SEE ATTACHMENT

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Best Wishes

CA. V.M.V.SUBBA RAO
Chartered Accountant
Door No.24-2-1885,
I Floor, Flat No.5,
Siddivinayaka Residency, I Cross,
Central Avenue, MSR Nagar,
Magunta Layout,
Nellore-524 003
Andhra Pradesh
India
Mobile:+91 - 0 9390221100
           +91 - 0 9440278412
e-Mail: vmvsr@rediffmail.com
vmvsr@yahoo.co.uk
http://pdicai.org/MyPage/203038.aspx

MCA Review on CLS Scheme

Tuesday, June 15, 2010Ministry of Corporate Affairs
SECRETARY MCA REVIEWS PROGRESS OF COMPANY LAW SETTLEMENT SCHEME AND EASY EXIT SCHEME

EXHORTS ROCS AND RDS TO ENSURE ZERO HARASSMENT TO
STAKEHOLDERS 16:36 IST To review the two schemes namely, Company Law Settlement Scheme 2010 and Easy Exit Scheme 2010, introduced by the Ministry of Corporate Affairs (MCA) on 30.5.2010, the Secretary, MCA, Shri R. Bandyopadhyay held a videoconference with all Registrars of Companies (RoCs) in 20 offices all over India and Regional Directors (RDs), yesterday i.e., on 14th June, 2010.

The Secretary enquired about the initial response of corporates and professionals to the abovementioned schemes and also the efforts put in by ROCs to popularize the schemes in order to make them successful. ROCs reported that they are taking out print ads in English and vernacular media and are also addressing seminars and conferences in association with professional institutes. Simultaneously, they are also issuing Show Cau…

Revised DTC [1 Attachment]

[Attachment(s) from Ashwin Nagar included below] REVISED DISCUSSION PAPER ON DIRECT TAXES CODE- SEE ATTACHMENT __._,_.___ Attachment(s) from Ashwin Nagar1 of 1 File(s) DTC_june2010.pdf

APPEAL - CA Benevolent Fund

THE CHARTERED ACCOUNTANTS' BENEVOLENT FUNDC/O THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIAICAI BHAWAN, I.P. MARG, P.O. BOX NO 7100, NEW DELHI – 110 002.APPEALThe Chartered Accountants' Benevolent Fund (CABF) was established in December, 1962 with object of providing financial assistance for maintenance, and other similar purposes to needy persons being members of our Institute, their wives, widows, children and dependent relatives. The income from the Fund is utilized in giving financial assistance to members and their families in distress. The resources of the Fund need to be augmented.A small contribution with a big heart from each member would facilitate grant of financial assistance to the needy and suffering members/dependents of members of the profession. It is, therefore, necessary that all members of the Institute enroll themselves as Life Members of CABF so as to enhance the corpus of the Fund, for rendering financial help to more beneficiaries and mitigate their h…

Cenvat credit on building material: - Tax Expert or Jyotishi

Prepared By: -CA Pradeep Jain ,Sukhvinder Kaur, LLB [FYIC]CA Ridhi AnchaliaIntroduction: -This is most interesting remark we got on our article "Amendment on Cenvat on building material: Far from solutions" after the pronouncement of Larger Bench decision in case of Vandana Global Limited [2010-TIOL-624-CESTAT-DEL-LB]. In the aforesaid piece prepared by me along with Sukhvinder Kaur and Neetu Sukhwani, we have opined that after the amendment in the definition of "inputs", the earlier cases will be decided in favour of manufacturers as the amendment is prospective and not retrospective. But our conclusion was wrong and Larger bench of Delhi Tribunal has given the decision in favour of Revenue. Then comes this interesting Comment. Comments from Readers of our website are always source of our inspiration. This remark has also prompted us to write this second piece on this subject in light of the latest larger bench decision.Dispute involved: -Always litigation arises …