thiruvadi: June 2008

Wednesday, June 11, 2008

I LOVE INDIA

General Sources
Country Study: India (Library of Congress) September 1995
Portals to the World: India (Library of Congress)
Background Note: India (U.S. Dept. of State)
Chiefs of State and Cabinet Members of Foreign Governments: India (U.S. Central Intelligence Agency)
Consular Information Sheet: India (U.S. Dept. of State)
Country Information: India (U.S. Dept. of State)
Country Profile of India (U.S. Dept. of Labor) from By The Sweat and Toil of Children: A Report to Congress, Volume I (July 15, 1994)
Country Reports on Economic Policy and Trade Practices, 1993-2001 (U.S. Dept. of State) see reports listed under South Asia
Country Reports on Human Rights Practices: India (U.S. Dept. of State)
Economic Briefing: India (The Economist)
Embassy of India, Washington
Governments on the WWW: India (Gunnar Anzinger)
Human Rights in India (Amnesty International)
International Religious Freedom Annual Reports: India (U.S. Dept. of State)
NATIONAL LIBRARY: National Library - information (IFLA)
U.S. Embassy, New Dehli (U.S. Dept. of State)
World Factbook: India (U.S. Central Intelligence Agency)
World Hunger: India (World Food Programme)
WWW DIRECTORIES / PORTALS: India (Google); India (Yahoo); WWW-VL Asian Studies: India (WebHead)

http://www.iloveindia.com/spirituality/sloka/index.html
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Weddings in India Ayurveda Cars in India Yoga Home Decor Garden Baby Care Indian Heroes Vastu Sports in India Party Ideas Pets
Weather Languages Literature Hotels in India Fitness Tattoos Festivals in India Baby Names Trade Shows Astrology Indian Railways Reiki
India Finance Airports in India Airlines in India Home Remedies Gift Ideas Indian Herbs Homemade Crafts Indian Clothing History of India Beauty

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slokas:
Slokas
Bedtime Sloka Bhagavad Gita Slokas Early Morning Sloka Holy Bath Sloka Krishna Sloka Rama Sloka Sloka While Eating Sloka While Lighting Lamp Vishnu Sloka
Pujas Mantras Indian Gurus Ashrams in India Hindu Gods Hindu Goddesses

YOU CAN HEAR AND DOWNLOD SLOKAS FROM THE SITE:

http://chennaionline.com/festivalsnreligion/slogams/

TIRUPPATHI TEMPLE WEB-SITE:

http://www.etirupati.com/

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Forum

Monday, June 9, 2008

INCOME OF SOURCING ARM OF NRI-NOT TAXABLE

`Sourcing arms of NRIs not to pay tax`
Raghuvir Badrinath / Bangalore June 10, 2008, 0:25 IST
In a landmark decision, the Bangalore Tribunal has ruled that the income arising from non-resident Indians' (NRIs') sourcing operations through liaison offices in India is not taxable.
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The liaison offices have of late come under the scanner of the revenue department. The tax authorities are of the view that sourcing goods from India through agents is a revenue-generating activity and so income from it should be taxed.
The ruling is a breather for NRIs buying goods through agents in India for exports. The ruling is also important as it sets a principle that the purchase activity is not taxable in India, irrespective of whether the goods are purchased by the principal or the agent.
The tribunal had last week ruled this in favour of a global sports apparel firm headquartered in the US. "It has affiliates in various countries. The assessee assists its affiliates in procuring goods from manufacturers in many parts of the world as a buying agent and gets remuneration on a commission basis," said an official involved in the process.
The assessee has entered into an agreement with manufacturers in India for procurement of goods, which are directly shipped to the affiliate's location. The assessee had set up a liaison office in the country with the approval of the Reserve Bank of India (RBI). The activities included giving opinion on prices and supervising progress and quality at the manufacturing workshop.
The revenue authorities said the activities of the liaison office extended beyond the RBI approval. They further argued that the exclusion to business connection in respect of "purchase of goods by a non-resident for the purpose of export" would not apply to the assessee since it does not take title to the goods. A percentage of the value of exports was considered as income attributable to the India operations.
The Bangalore Tribunal held that irrespective of whether the principal purchased directly or through an agent, the activity would be excluded from the gamut of business connection so long as the purchase is exports-related. Hence, no income is accrued or deemed to accrue or arise in India. This was confirmed by KR Sekar, partner, Deloitte Haskins & Sells.
The tribunal also observed that the assessee is not representing the manufacturer but is an agent of the affiliates. The liaison office only ensures and supervises the manufacturing activity as an agent of the affiliates. The manufacturer does not receive any services from the liaison office or the assessee. The activities of the liaison office were well within the limits prescribed by the RBI, it said.

Friday, June 6, 2008

NEW INCOME-TAX FORMS-2008-09

FW: [aaykarbhavan] download link for New Income Tax Return Forms Posted by: "Sameer Pradhan" sameer_pradhan75@hotmail.com sameer_pradhan75 Fri Jun 6, 2008 3:28 am (PDT)
To: aaykarbhavan@googlegroups.com; aaykarbhavan@yahoogroups.comFrom: r.r.makwana@gmail.comDate: Thu, 1 May 2008 08:43:29 +0530Subject: [aaykarbhavan] download link for New Income Tax Return Forms
New Income Tax Return Forms
Form No Heading
A.Y. 2007-08 A.Y. 2008-09
ITR 1 Normal FontLarge Font
ITR 1 Normal FontLarge Font InstructionsFor Individuals having Income from Salary/ Pension/ family pension & Interest
ITR 2 ITR 2 InstructionsFor Individuals and HUFs not having Income from Business or Profession
ITR 3 ITR 3 InstructionsFor Individuals/HUFs being partners in firms and not carrying out business or profession under any proprietorship
ITR 4 ITR 4 InstructionsFor individuals & HUFs having income from a proprietary business or profession
ITR 5 ITR 5 InstructionsFor firms, AOPs and BOIs
ITR 6 ITR 6 InstructionsFor Companies other than companies claiming exemption under section 11
ITR 7 ITR 7 InstructionsFor persons including companies required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D)
ITR 8 ITR 8 InstructionsReturn for Fringe Benefits
ITR V ITR V
Where the data of the Return of Income/Fringe Benefits in Form ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6 & ITR-8 transmitted electronically without digital signature
Acknowledgement Acknowledgement
Acknowledgement for e-Return and non e-Return
Forms to be submitted by Scientific Research Organisations
Application Form for approval under clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 in the case of a Scientific Research AssociationFORM NO.3CF-I
Application for approval of scientific research programme under section 35(2AA) of the Income-tax Act, 1961FORM NO. 3CG
Order of approval of in-house Research and Development facility under section 35(2AB) of the Income-tax Act, 1961FORM NO. 3CM
Certificate of expenditure by way of payment in respect of eligible projects or schemes notified under section 35ACFORM NO. 58A
Certificate of expenditure incurred directly by a company in respect of eligible projects or schemesnotified under section 35ACFORM NO. 58B
Report to be submitted under clause (ii) of sub-section (4) of section 35AC of the Income-tax Act, 1961 to the National Committee by an approved association or institutionFORM NO. 58C
Report to be submitted by a public sector company, local authorityor an approved association or institution under clause (ii) ofsub-section (5) of section 35AC of the Income-tax Act,1961 to the National Committee on a notifiedeligible project or schemeReporting period ________to__________FORM NO. 58D
Application Form for approval under clause (ii) or clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 in the case of a University, College or other InstitutionFORM NO. 3CF-II
Forms to be submitted by Charitable and Religious Organisations under Section 10
Application for grant of exemption or continuance thereof under section 10(23C)(iv) and (v) for the year FORM NO. 56
Application for grant of exemption or continuance thereof under section10(23C)(vi) and (via) for the year ___________ FORM NO. 56D
Forms to be submitted for registration of Charitable or Religious Institutions
Application for registration of charitable or religious trust or institution under section 12A(a) of the Income-tax Act, 1961 FORM NO. 10A
Challans
PAN-filled form FORM NO. 280FORM NO. 281
Blank form 280 281 282 283
Software Utilities
Software utility for printing of challans with Barcoded PAN/TAN and other details. Download
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