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Finance Act 2008 enacted-Service Tax provisions to be in force

Salient features of Finance Bill, 2008 by Ved Jain

Salaried Class IT Refund information by Income Tax Deptt

 
   
 
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 Rajasthan pays I-T for acquiring land for IIT
 ‘Improve methodology for ranking ease of paying taxes’
 Service tax refund extended to 3 more export-based services
 Out of pocket expenses reimbursed on actual basis are not includable in the value of the Service Tax-
 Transaction between associated enterprises
 Service Tax Rules amended-Service Tax Notification No.19
 Finance Ministry notifies 16th May 2008 as the date on which service tax provisions
 Service taxability of construction and sale of residential units
 Maintenance of documents for transfer pricing
 Delhi to soon have its own excise legislation
 Tata Industries pays Rs 45-cr to the I-T dept for AT&T stake

ICAI rotating shield
January, 31st 2007
The Eastern India Regional Council (EIRC) of the Institute of Chartered Accountants (ICAI) has won, jointly with the Western Indian Regional Council, the rotating shield for 2006, a press release said. The institute has five regional councils and the award is given to the regional council with the best overall performance. Among the parameters under test are submission of budget and audited accounts, quality of accounts, publication of regional newsletters and holding conferences, seminars and workshops, among others. The EIRC has bagged the award after a gap of six years. The shield will be presented at the 57th annual function of the institute to be held on February 4.
 
 
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