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Black Money: Will Respond to All Legitimate Requests, Says Swiss Government

Black money has always been a problem for India where most of the corruption takes place due to this same cause. The past saw arrivals of many different measures and schemes which aimed at reducing and eradicating black money in India, but most of them sadly failed due lack of foreign support. The present approach to get hold of black money has been taken in form of a global approach that includes a double taxation .....

International Tax Review Invites You to Second Annual India Tax Forum in New Delhi on September 6 & 7, 2011

International Tax Review’s India Tax Forum www.internationaltaxreview.com/IndiaTaxForum2011 Taj Mahal Hotel, New Delhi September 6-7, 2011 **In-house tax executives attend for free** Dear Friends, EtaxIndia.org is the media partner for this event. International Tax Review invites you to the second annual India Tax Forum in New Delhi on September 6 & 7, 2011. The forum is free to attend for tax professionals from banks and in-house tax executives from corporates. To register, or for more information visit:www.internationaltaxreview.com/IndiaTaxForum2011 Speakers include: RN Dash, .....

SMEs Seek Taxation System for LLPs

A new form of partnerships which has been introduced in India very recently, called the limited liability partnership and it has an important role to play in development of industries, especially Small and Medium Enterprise. This form of partnership is now increasingly becoming popular in India as integrates the features of both corporation and partnership firm. In this form of partnership the liability of partnership is limited unlike the other form of partnership where the .....

Essar Vodafone Split: Government to Pocket Tax Gain of Rs. 1, 700 Crores

The long talked about issue of Vodafone- Essar split is finally beginning to take its shape and things are coming up in a very clear way. The bilateral treaty between countries has played a major role in determining the tax availability for many countries including India. The present issue of Vodafone-Essar deal generates a scope for tax revenue for the Indian Government, where a sum of Rs. 1, 700 crores is expected to be generated .....

Government to Miss Annual Tax Collection Due to High Number of Refunds

The taxation policy of an economy is a vital point of consideration as it the main source of inflow for the government by which it exercises most of its operations. The recent year 2010-11, however has proved to be a year of apprehension for the Government as there has been a huge amount of refund cases where the government needs to refund certain amount back to the assessee. In respect of the above concern, it .....

India, Switzerland Sign Revised Taxation Treaty

The issue of hide and seek among the Taxation Authority of India and its residents has finally come to an end with the revised version of taxation treaty between the two countries, India and Switzerland. An amendment was carried out in the treaty which enabled the Taxation Authority of India to exchange and access information of the residents who had there account with the Swiss banks. The revised version of the treaty has made it .....

Eye Opener – Must Read – Forward as Much as you Can

Dear etaxindia.org readers Please read and circulate to as many people as you can as a movement to save India. I (Pankaj Singla) feel jealous when I see another developed countries like Thailand, China, why we not even we have more resources then other countries. So do some for our country as we love to see our country on top amongst all…. “Indians are poor but India is not a poor country”. Says one of .....

India and Hong Kong Discuss Abolition of Double Taxation

The issue of double taxation has been in the lime light for a quite a long time with respect to India. The issue of double taxation of a particular assessee in two respective countries seems to be a situation for agony, where the situation is of levying tax on income on two occasions, once in hands of the country in which such source had originated and secondly in hands of the domestic country in which .....

Live Virtual Class Started in 22 Cities by ICAI

Live Virtual Classes started on December 28,2010. Inaugurated by ICAI president CA Amarjit Chopra. Classes will start from second week of January 2011.Live virtual classes will be conducted in 22 cities across India. Following are the list of 22 cities. 1. Cuttack 2. Kolkata 3. Ahmedabad 4. Mumbai 5. Nagpur 6. Pune 7. Chandigarh 8. Delhi 9. Gurgaon 10. Ludhiana 11. Chennai 12. Coimbatore 13. Kochi 14. Hyderabad 15. Bangalore 16. Indore 17. Kanpur 18. Noida 19. Jaipur 20. Lucknow 21. Patna 22. Ranchi

Recent Changes of ULIP after SEBI and IRDA Debate

After a heated debate between Securities and Exchange Board of India (SEBI) and Insurance Regulatory and Development Authority (IRDA) regarding Unit Linked Insurance Policy (ULIP) when SEBI challenged the notion of combining investment and insurance as one single instrument and took up the affair to the Supreme Court of India, the courts have decided that investments in ULIP which were covered under Section 80C of Income Tax act were now to be placed under the .....

Draft Citizen’s Charter 2010

The process of drafting a new Vision document – Vision 2020 is nearing completion. An important component of the Vision 2020 document is the Citizens’ Charter 2010. As a part of Vision 2020, the Citizens’ Charter 2007 was revisited by a Working Group constituted by the CBDT. A massive exercise was undertaken of conducting interactive sessions with members of trade associations, bodies of industry, chamber of commerce, associations of Chartered Accountants/Advocates, IRS Officers associations, employees .....

Securities and Insurance Laws (Amendment and Validation) Ordinance, 2010

Promulgated by the President in the Sixty-first Year of the Republic of India. An Ordinance further to amend the Reserve Bank of India Act, 1934, the Insurance Act, 1938, the Securities Contracts (Regulation) Act, 1956 and the Securities and Exchange Board of India Act, 1992; Whereas Parliament is not in session and the President is satisfied that circumstances exist which render it necessary for her to take immediate action; Now, therefore, in exercise of the .....

Educating Children About Tax Matters: New Programme of Government

Government has decided to structure a communication appraoch for school children in the age group of 10-12 years (Class V&VI) and 16-18 years (Class X to XII) to commence them to the subject “Need for taxation in civil society”. The main aim of the plan is to prepare children to be responsible and compliant taxpayers when they grow up so that they willingly contribute towards nation building. With this programme, the Government wishes to reach .....

SEBI Bans ULIP of 14 Insurance Companies

SEBI on Friday has banned 14 big insurance companies like SBI Life, TATA AIG and ICICI Prudential. The ban for receiving money for any Unit Linked Insurance Products (ULIP). SEBI has also banned ULIP products of other companies also. The following are the list of banned companies of ULIP Products by SEBI. List of Banned Companies of ULIP by SEBI Aegon Religare Life, Aviva Life, Bajaj Allianz, Bharti AXA, Birla Sunlife, HDFC Standard Life, ING .....

Design of Income Tax Department Website has Totally Changed

Income tax department has changed the design of its websites. Antiquated plot of the website was not very well as comparison to the new design of the website. Now, website templates include flash files also to attract the attention of the visitors to some momentous points like faked email, TRPS, e-payment of taxes, and most important thing procedure to file an income tax return. Thanks to the website design and development company of the income .....

Babus Get More: Dearness Allowance Increased by 8%

For compensate the rising prices of commodities, the cabinet approved to increase Dearness allowance (DA) for central government employees along with pensioners by 8 per cent. The additional dearness allowance would be released w.e.f. January 1, 2010. I know, this is very relaxation moment for central government employees to tackle the inflation. But private sector employees are also hoping for the best. Last year, DA was increased by 6% w.e.f. Jan 1, 2009. Have a .....

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