Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: VAT RATES :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: form 3cd :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: cpt
 
 
Direct Tax »
 Advance tax calculation: Firms may have to furnish Apr-Sept income estimates
 Companies may have to furnish Apr-Sept income estimates to I-T dept
 CBDT working on a draft rule that makes it compulsory for companies to provide income estimates by Nov 15
 Companies, HNIs may soon have to specify reason for paying less advance tax than previous year
 TDS Applicability On Government Contracts Under Gst (Under Section 51 Of The Cgst Act, 2017)
 CBEC tells field officers to take GST disputes to Supreme Court
 Jurisdiction-free income-tax assessment on the cards
 CBDT asks I-T department to take urgent steps
 TDS on interest on deposits made under the Capital Gains Accounts Scheme, 1988 where the depositor has deceased
 Tax evaders set to face action: CBDT chairman Sushil Chandra
 Income-tax department calls big corporate entities to pay advance taxes

CBDT: Income - Tax notices to Bhave routine affair
May, 17th 2011

The Income Tax Department has sent notices to former Securities and Exchange Board of India (Sebi) chairman C B Bhave seeking information on his income for the 2009-10 assessment year. But the department termed the move routine matter.

It has also started a tax enquiry in case of two serving members of Sebi.

It said the proceeding had been initiated to scrutinise the tax return of Bhave for 2009-10 assessment year and the case was randomly picked up by the computer. The notices were issued to Bhave on September 14, 2010 and January 24, 2011, when he was at the helm of Sebi.

The department said the move was not intended at harassing or victimising Bhave, and it was not acting upon some complaints against him. It also said there was no link between the on-going tax enquiry and the issue of Bhaves extension.

The tax proceedings in case of Bhave are routine and have no connection with any complaint or his tenure as Sebi chairman, the Central Board of Direct Taxes said in a statement.

About the enquiry on two existing members, it said necessary action was being taken according the law on the basis of complaint received against them.

Bhave was appointed Sebi chairman in February 2008 for three years. Initially, there were expectations that he might get extension, but in January, the government announced the appointment of U K Sinha as Sebi chief for three years.

Bhave was Sebis senior executive director from 1992 to 1996. Later, he became the chairman and managing director of National Securities Depository Limited (NSDL) before coming back to head Sebi.

During his tenure as Sebi chief, he took many tough decisions, including a ban on entry load for mutual funds and raised the issue of jurisdictions over unit-linked insurance products that led to a spat with the insurance regulator.

Last week, a former member of Sebi had alleged that the board of the market regulator abused its powers to protect Bhave from being subjected to any independent inquiry with respect to his actions as NSDL chairman in the IPO scam, which related to irregularities in share allotment in various initial public offers between 2003 and 2006.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Application Management Solutions Application Management System Application Management Software System Application Management Development Application Management Software Development

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions