Admin's Announcement

Dear All Members!
As u know that Exam Fever has already been started,so v hv decided2gv a small break2our sms updates till 22nd Nov.All da Best
Adarsh Agrawal

Exams Exams Exams !!!

Exams Exams !!
These Life Making15days have gr8 power.Every hour,every minute can gv u extra marks.Leave everything just for15days..Study Study Study!!

Check List for Exams

CheckList4exam
AdmitCard,WristWatch,Penset,Calc,ruler,stappler,Vehicle/conveyance,SOS medicines if needed,WaterBottle etc.
Completely equipped b4fight

Exam Tips

*Never start ans with "Yes/No" unless u 100%sure
*6 avg ans will gv u more marks than 5 best ans
*attempt all questions
*dont loose confidence

Admin Wishes u a very very very Smiling Diwali..

Dear All Members!
SHAYVIDZ Family wishes u a very very Smiling Diwali.May u be blessed with Degree of CA,health,wealth & lots of SMILES.
Adarsh Agrawal

Recent Case Laws - PGBP

Manufctrer ofTextileGoods purchasd windmill.Additionl dep u/s32(1)(iia)allowed bcoz in act,no such condition of nexus2business
CIT Vs VTM Ltd2009(Mad)

Recent Case Laws - PGBP

Manufctrer ofTextileGoods purchasd windmill.Additionl dep u/s32(1)(iia)allowed bcoz in act,no such condition of nexus2business
CIT Vs VTM Ltd2009(Mad)

Recent Case Laws - PGBP

Manufctrer ofTextileGoods purchasd windmill.Additionl dep u/s32(1)(iia)allowed bcoz in act,no such condition of nexus2business
CIT Vs VTM Ltd2009(Mad)

Recent Case Laws - Capital Gain & MAT

LTCG,except 10(38),wont b excluded frmIncome4Book Profit u/s115J,even when exemption u/s54E/54EC has been claimed
N.J.Jose and Co. P.Ltd Vs ACIT (Ker.)

Recent Case Laws - Assessment Procedure TDS

If TDS not deposited on time,then intt u/s201(1A).No intt u/s234A,234B,234C can b claimed from DeducteeEmployee
CIT Vs.Emilio Ruiz Berdejo 2010(Bomb.)

Recent Case Laws - PGBP

Exp after setting up business but bfore commencement of business wud b deductible as RevenueExp
CIT Vs.Hughes Escorts Communication Ltd.2009(Del.)

Recent Case Laws - Capital Gain

Application money forfeited due to non pymnt of bal share allotment money.Its extinguishment of right.hence STCL.
DCIT VsBPL SanyoFinanceLtd 2009(Kar.)

Admin Announcement

V hv completd all amendmnts ofIncmTx relevnt4CAexams Nov2010
All sms r available@http://shayvidz.blogspot.com
Your Queries, suggestions, doubts are invited..
mail us at shayvidz@gmail.com
Now v wil send u important caselaws

Finance Act 2009

S147:AO may assess/re-assess any income which comes2his notice subsequent to proceedings. Not reqd to record reasons4the same while issuingNoticeU/s148

Finance Act 2009

S271(1)(C):InaccuratIncome shown inReturn filed b4 date of search shal b deemed concealment evenif disclosed in return filed on or after dt of search.

Finance Act 2009

From19.08.2009,ONLY BASIC RATE i.e.No TDSofEC,SHEC except-
*Salary toResidnt
*AnyPyment to NON-Residnt
Note-TDS ofSurchrg reqd only if pmt toForeignCo

Finance Act 2009

201:No order shal b passd4default ofNon-deductn ofTaxfromRESIDENT after
*2yrs frm end ofFYin whichStatementU/s200 is filed
OR
*4yrs frm end of FY in which pymnt is made

Finance Act 2009

S246A&S253:Against order ofAO followng instructions ofDRP,the appeal SHALL lie directly to ITAT¬ toCIT(A)
S281B:Period ofStayByCourt shal b excluded

Finance Act 2009

S144C:if AO want2make assessmnt prejudicial 2assessee in relation2TrfPricingAdj,thenAO SHALL refer case2DRP
S131:DRP hv all powers ofCalling books etc.

Finance Act 2009

S132:scope enlarged.Additional&JointDir/Commsnr can also authorise Search&Seizure if empowered byCBDT
S293C:GeneralPower2withdraw the given approvals

Finance Act 2009

S90:gvs power2CG4entering intoDTAAwithSpecifiedTERRITORIES OutsideINDIA also,earlier ForeignCountries only
2(29BA)definitn ofManufacture:same as in IDT

Finance Act 2009

92C:ActualTransctnPrice(ATP)shal b tkn whr diffrnc btwn arithmatc mean ofArm'sLengthPrice&ATPdoesnt exceed5%ofATP
92CB:empowrs board2makeSafeHarborRule

Prep Strategy for CA Final Students

PrepStrategy4Finalist
*PGBP-16Marks
*Assesmnt ofVariousTypes ofPerson-16M
*AssesmntProcedure-16M
*Amenmnts+caselaws-20M
*WealthTax-10M
*MicsTopics-22M

SHAYVIDZ Admin Msg

Admin announcmnt forPCC/IPCC Students
*amndmnts r over(next sms onwards only forFinalist)
*Do read supplmntry study mat ofICAI
*Do read 35AD,56(2),80IB

Notification

e-Intrmedary shall
*hv PAN&ClassII DigtlSignCertfct
*properly secure confidntl info of assessee
*hv necssry archival,retrievl&securtypolicy
*No default

Notification

W.r.t.139(1B),qualifctn of e-ReturnINTERMEDIARY
it must b pub sectrCompnyORcompny hvngNtWrth of1croreORfirm ofCA/CS/AdvctOR CA/CS/AdvctOR DDOofGovtDept

Notification

Salary
New rule for Taxability of Motor Car Benefits-Rule 3(2)(A) Partly use
Exp-employer1800pm/2400pm
Exp-employee600pm/900pm
+900pm for Chauffeur

Finance Act 2009

*S208limit increasd4liab of AdvncTax frm5000to10000
*S200A procssng ofTDSReturn same asProcsng ofITRu/s143(1)
*ZeroCouponBond cn b issued bySchedldBnk

Finance Act 2009

*Valid declaration u/s197A requires PAN of payee on it
*Application by institutions4approval of exemption u/s10(23) now can b made upto30thSep ofA.Y.

Finance Act 2009

*Valid declaration u/s197A requires PAN of payee on it
*Application by institutions4approval of exemption u/s10(23) now can b made upto30thSep ofA.Y.

Finance Act 2009

S206AA:ifPayee not furnishesPAN,den hisTDSrate wl b highr of
*rate mentiond inSection
*rate of Finance Act
*@20%
If incorrectPAN,den presumed as No PAN

Finance Act 2009

Sec80G-Approval 1ce granted will continue2b valid in perpetuity w.e.f.1.10.2009.
Approvals expiring bfore1.10.2009will hv2b renewed only once.