The Standing Committee on Finance in the Lok Sabha has delivered a comprehensive report on the Companies Bill 2011. The report was presented to the Hon’ble Speaker of the Lok Sabha on 26.06.2012

Vide letter dated 28.06.2012, the Director General of Income-tax has issued draft guidelines in respect of the General Anti-Avoidance Rules (GAAR). GAAR is scheduled to become applicable w.e.f. 1.4.2013. The guidelines contain illustrations to explain how the GAAR provisions will apply together the draft of the forms required to be filled in. Comments can be forwarded till 20.07.2012

Vide Office Order dated 27.06.2012, the Director General of Income-tax (International Taxation) has transferred and posted several officers in the cadre of Additional & Joint Directors of International Taxation and Transfer Pricing with immediate effect.

Vide Order No. 131 dated 26.06.2012 the CBDT has transferred and posted several officers in the grade of Additional/ Joint Commissioners of Income-tax with immediate effect.

The Ministry of Finance has issued a Notification No. 25/2012 dated 20.6.2012 exempting services provided by an individual as an advocate or a partnership firm of advocates by way of legal services to, (i) an advocate or partnership firm of advocates providing legal services; (ii) any person other than a business entity; or (iii) a business entity with a turnover up to rupees ten lakh in the preceding financial year.

The CBDT has issued a letter dated 20.6.2012 listing out the names of the Income Tax Officers who are in the zone of consideration for being promoted to the post of Assistant Commissioners of Income-tax

GOVERNMENT OF INDIA
DIRECTORATE OFINCOME TAX (HRD)
CENTRAL BOARD OF DIRECT TAXES
ICADR BUILDING, PLOT NO.6, VASANT KUNJ INSTITUTIONAL AREA-II
NEW DELHI-110070, PH. 26130594, FAX 26130594
F.NO.HRD/PM/425/2/2012-13/716 DATED: 22-06-2012

To
Shri Anil Uniyal
DS Hqrs (Admn-VlII)
Central Board of Direct Taxes
North Block. NewDelhi

Sir,

SUBJECT: AWARDS SCHEME FOR THE INCOME TAX DEPARTMENT

The Hon’ble Finance Minister has approved a scheme of awards to Officers and Staff of the Income Tax department who render exceptional meritorious service and display outstanding devotion to duty.

The awards would be called “Certificate of Appreciation” and “Certificate of Meritorius Service”. The “Certificate of Appreciation” would be conferred upon any employee for display of specific acts of exemplary devotion to duty including performance of an act of extremely arduous nature beyond the call of duty, Involving extreme effort and resulting in substantial/potential benefit to the Government and/or acts involving grave personal risk etc. While the “Certificate of Meritorius Service” would be conferred upon such employees, who have put in at least 15 years of service and who have rendered consistently high levels of meritorious service over this period,

The number of “Appreciation Certificates” and Merit Certificates awarded in one year shall not exceed thirty five but the Government would have the discretion to increase the number in any year if the circumstances so warrant.

A formal notification detailing the scheme would be forwarded shortly. It is requested that the same may be notified and put on the official website of Income Tax Department for information of all the employees of the Department

Yours faithfully

Sd/-
(Praveen Kumar)
DDlT (HRD)
NewDelhi.

Vide letter dated 21.06.2012, the CBDT has released a list of Deputy Commissioners of Income-tax who are being considered for promotion to the grade of Joint Commissioner of Income-tax on ad-hoc basis

Vide order passed in pursuance of the consultations of the collegiums of the Income Tax Appellate Tribunal, consisting of the President and two senior-most Vice Presidents, Shri Naresh K Saini, Accountant Member, Income Tax Appellate Tribunal, Bangalore Benches, Bangalore has been transferred in public interest, in the same capacity to the Income Tax Appellate Tribunal, Jodhpur Benches, Jodhpur with immediate effect.

We wish the Hon’ble Member good luck in his new posting.