I.  Recent Updates:

1.   Joint Commissioner of Commercial Taxes, Bangalore Vs.  Sasken Communication Technologies Ltd., Writ Appeal Nos. 90-113 and 118-129 of 2011, DATE : 15.04.2011, HIGH COURT OF KARNATAKA

ST : Where assessee entered into agreement with its clients for development of software and agreed to give up all rights and claims of software to be developed, such contract was not for sale of any software but contract for service simplicitor.

(Please click here for judgement)

  

2.   Commissioner of Central Excise, Bangalore Vs. Ecof Industries (P.) Ltd., CEA NO. 51 OF 2010, DATE : 08.04.2011, HIGH COURT OF KARNATAKA

ST : There is no restrictions under rule 7 of Cenvat Credit Rules in limiting distribution of service tax credit made in respect of one unit solely on ground that services are used in respect of another unit.

(Please click here for judgement)

 

II.  Today's Bottomline News : 

1. I-T dept has no record of tax collections for 2 months  (Click for detail)

2. RBI/2011-12/291 - RBI- Amendment to Public Provident Fund Scheme, 1968 (PPF, 1968)  (Click for detail)

3. Small Savings Schemes: How DTC May Alter Their Taxability  (Click for detail)

4. Floating a Trust May Help You Earn Goodwill & Get Tax Benefits Too (Click for detail)

5. Black money: FinMin panel gets over 3,000 responses  (Click for detail)
    

Key of Success :

"Four steps to live life:
1st - look back and thank God,
2nd - look forward and trust God,
3rd - look around and believe God,
4th - look within and find God"

  

Thanks for your valuable time

   

"Voice of CA"  

  
CA. Sanjay Kumar Agarwal
Founder - Voice of CA 
Mob : 9811080342, agarwal.s.ca@gmail.com      
   
CA. Sidharth Jain, Co-Moderator
sidhjasso@yahoo.com 
  
CA. Mukesh K Bansal, Co-Moderator-FEMA 
mukbansal80@gmail.com