[aurangabad_ca] Rs 2500 PT Cap too Low, MCD Proposes Changes, Job Changes will Not affect Mediclaim, Growth in SEZ Exports, Foreign Firms I-T Jurisdiction, Excise Exemption under Review, Fees for Services within S. 44BB Not Taxable, Rs 10 lakh Limit for SGST threshold, C
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- Professional Tax: Current Cap at Rs 2,500 Annually is too Low
- MCD has Proposed Changes in Collection Norms
- Change in Job will Not affect Mediclaim Policies
- Growth in SEZ Exports in the First Six Months
- Foreign Firms I-T Jurisdiction Not Certain
- Excise Exemption to Hilly States under Review
- Fees for Services within S. 44BB are Not Taxable
- SGST Threshold Limit likely to be Rs 10 lakh
- Cutting Polishing Marble Blocks is "Production" for Sec. 80-IA
- RBI Reference Rate for US $ and Euro – 10th December 2009
| Professional Tax: Current Cap at Rs 2,500 Annually is too Low Posted: State Govts want Rs 2,500 ceiling to be scrapped Delhi residents - salaried, in trade or self-employed - will join professionals of six other states in paying a professional tax if the 2010-11 budget proposals of Municipal Corporation of Delhi are accepted. Already states like Karnataka, Maharahstra, West Bengal, Andhra Pradesh, Tamil ... (This is a just a summary, read the full article at www.forum4finance.
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| MCD has Proposed Changes in Collection Norms Posted: For rented commercial properties, the MCD has raised the tax from 10% to 20%. The increase for self-occupied commercial properties is 5% - from 10% to 15%. MCD has also proposed to bring some commercial enterprises under a special category and charge 20% from them. Said MCD commissioner KS Mehra: ''Three-star hotels, ... (This is a just a summary, read the full article at www.forum4finance.
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| Change in Job will Not affect Mediclaim Policies Posted: General insurers, both private and public, have started offering continuity of features of group mediclaim policies to employees even after one quits an organisation where the cover was originally offered. People retiring can also continue to avail of the facilities of the group health policies. The only catch is that it ... (This is a just a summary, read the full article at www.forum4finance.
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| Growth in SEZ Exports in the First Six Months Posted: The 101 special economic zones (SEZs) operational in the country recorded exports worth Rs.90,000 crore in the first six months of the year, Commerce Minister Anand Sharma said in the Rajya Sabha on Wednesday. "The SEZs recorded exports of Rs.100,000 crore last (calendar) year. In the first six months of this ... (This is a just a summary, read the full article at www.forum4finance.
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| Foreign Firms I-T Jurisdiction Not Certain Posted: HC set to hear issue of tax on stake sale in Idea Cellular The Bombay High Court has postponed a hearing on details of another significant court case on the issue of jurisdiction of Indian tax authorities on foreign companies in business deals with Indian domestic ones. MMM Holdings and New ... (This is a just a summary, read the full article at www.forum4finance.
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| Excise Exemption to Hilly States under Review Posted: Himachal Pradesh and Uttarakhand, the two Himalayan states which have drawn thousands of crores of investments due to the tax benefits they offer, stare at the possibility of losing the status as Finance Minister Pranab Mukherjee looks to plug loopholes and boost revenues for a government that's on a spending ... (This is a just a summary, read the full article at www.forum4finance.
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| Fees for Services within S. 44BB are Not Taxable Posted: In re Geofizyka Torun Sp.zo.o (AAR) Fees for services coming within S. 44BB are not taxable u/s 9 (1) (vii) r.w.s. 44DA The Applicant, a Polish company, was engaged in conducting seismic surveys and providing seismic data to oil companies in connection with their oil exploration and drilling activities. The AAR had to consider ... (This is a just a summary, read the full article at www.forum4finance.
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| SGST Threshold Limit likely to be Rs 10 lakh Posted: Businesses with more than Rs 10 lakh turnover may end up paying the central goods and services tax (CGST), with the Centre not agreeing to states' suggestion of keeping the threshold at Rs 1.5 crore. The empowered committee of state finance ministers had suggested separate thresholds for central GST and state ... (This is a just a summary, read the full article at www.forum4finance.
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| Cutting Polishing Marble Blocks is "Production" for Sec. 80-IA Posted: ITO vs. Arihant Tiles Marbles (Supreme Court) The assessee was engaged in conversion of marble blocks into slabs and tiles by sawing and polishing. The question was whether this amounts to "manufacture or production of article or thing" for purposes of deduction u/s 80IA. HELD, deciding in favour of the assessee: Case ... (This is a just a summary, read the full article at www.forum4finance.
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| RBI Reference Rate for US $ and Euro – 10th December 2009 Posted: The Reserve Bank of India's Reference Rate on December 10, 2009 for the US dollar is Rs. 46.72 for Euro is Rs. 68.73 The corresponding rates for the previous day (December 09, 2009) were Rs. 46.77 and Rs. 68.77 respectively. (This is a just a summary, read the full article at www.forum4finance.
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AURANGABAD_CA is a Yahoo Group for the benefit of CA and other professional. It is especially meant for written discussion within group members and circulate the information among its members. The mail may contain such research/advice/opinion/information/fact provided by any member or moderator and every contain of the mail or information of yahoo is always subject to the Accuracy and of the description of facts.
The Aurangabad_CA , its moderator/owner do not claim that contains in mail/information obtained after reading as a complete and accurate disclosure of relevant fact(s).
Considering all above facts m the transaction based on above mail may not complete without confirming proper statue/authority/person. Therefore any action/transaction taken on basis of this mail do not imply the accuracy or value . Further this Group�s Owner/Moderator/Member are not liable for any damages or costs suffered due to action/transaction based on information on this Yahoo Group.
For Seeking any Clarification you may mail only to Group Moderator on
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