The Reader

• The Big Four in Fray to grab UID Project Consultant's Job
• Investors, CEOs want faster Clearances & Uniform Tax Rate
• CBDT frames Scheme to ensure Quality Tax Assessments
• Market prefers GST implement w.e.f April 1, 2011
• Service Tax Rate may be raised From 10 % to 12%
• Notional Interest can be assessed under Transfer Pricing Law
• RBI Reference Rate for US $ and Euro – 01st February 2010
The Big Four in Fray to grab UID Project Consultant's Job
Posted:
The Big Four - KPMG, PricewaterhouseCoopers, Deloitte and Ernst & Young - are in a fray for snapping up the consultant's job for the Unique Identification Authority of India's UID project. These four have cleared the first two rounds of evaluation to reach the technical evaluation stage along with three other companies which include Booz & Allen, PA Consulting and Capgemini. The authority is set to finalise the consultant for the project by the ...

(This is a just a summary, read the full article at www.forum4finance.com)




Investors, CEOs want faster Clearances & Uniform Tax Rate
Posted:
Investors and CEOs assembled at the World Economic Forum here want faster clearances for projects in India and a uniform tax rate. Several of them interacted with Commerce and Industry Minister Anand Sharma, who assured them that within the defined Foreign Direct Investment policy, the government would not only ensure speedy clearances but also facilitate them.

(This is a just a summary, read the full article at www.forum4finance.com)




CBDT frames Scheme to ensure Quality Tax Assessments
Posted:
The CBDT recently framed a scheme for ensuring quality tax assessments by its officers across India. The CBDT had issued instructions to the range heads to monitor the quality of the tax assessments falling under their jurisdiction, there was no comprehensive plan in place for improving and monitoring the overall quality of tax assessments.

(This is a just a summary, read the full article at www.forum4finance.com)




Market prefers GST implement w.e.f April 1, 2011
Posted:
The best comment of the Department of Revenue on the First Discussion Paper (FDP) on the proposed GST is the one to have a single tax rate. The second best suggestion is to restrict exemptions to 99 items that are already exempted under the value added tax (VAT). The trade bodies and the government now appreciate that it is not feasible to implement GST from April 1. It is better to implement it with effect from April 1, 2011, rather do it mid-year.

(This is a just a summary, read the full article at www.forum4finance.com)




Service Tax Rate may be raised From 10 % to 12%
Posted:
With the government's fiscal deficit ballooning, there are chances of service tax rate being restored to 12 per cent in the upcoming Budget, official sources said. The government had last year cut down service tax rate from 12 to 10 per cent as part fiscal stimulus measures to help the economy tide over the then slowdown.

(This is a just a summary, read the full article at www.forum4finance.com)




Notional Interest can be assessed under Transfer Pricing Law
Posted:
The assessee, an Indian company, advanced interest-free loans to its 100% foreign subsidiaries. The subsidiaries used those funds to make investments in other step-down subsidiaries. On the question whether notional interest on the said loans could be assessed in the hands of the assessee under the transfer pricing provisions of Chapter X, the assessee argued that the said "loans" were in fact "quasi-equity" and made out of commercial expediency. It was also argued that notional income could...

(This is a just a summary, read the full article at www.forum4finance.com)




RBI Reference Rate for US $ and Euro – 01st February 2010
Posted:
The Reserve Bank of India's Reference Rate on February 01, 2010 for the US Dollar is Rs. 46.34 for Euro is Rs. 64.32 The corresponding rates for the previous day (January 29, 2010) were Rs. 46.37 and Rs. 64.63 respectively.

(This is a just a summary, read the full article at www.forum4finance.com)

__._,_.___

Messages in this topic (1)

Recent Activity:

• New Members 14

DISCLAIMER
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
girishkulk@gmail.com