TIOL-DDT 1987 · the untouched capture
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<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif"><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=14276"><img src="http://www.taxindiaonline.com/RC2/image/ddt/ddt_1794.jpg" alt="DDT in Limca Book of Records" width="175" height="120" hspace="5" border="0" align="right"></a></font></strong></font><font color="#663399" size="3">TIOL-DDT 1987</font><br>
21.11.2012 <br>
Wednesday </strong></font></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">Service Tax - Accounting Codes Back in Service Tax </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>BY</strong> Circular No. 161/12/2012 dated 6th July, 2012, CBEC had announced a single accounting code 00441089 for all services with effect from 1st July 2012. (Please see <strong><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=15402" target="_blank">DDT 1896 - 09.07.2012</a></strong>). </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Board had received suggestions from the field formations that the service specific old accounting codes should be restored, for the purpose of statistical analysis. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">So, Board has announced a list of 120 descriptions of services for the purpose of registration and accounting codes corresponding to each description of service for payment of tax. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Board clarifies that:</font></p>
<blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1. Descriptions of taxable services given in the annexure are solely for the purpose of statistical analysis. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2. On the advice of the office of the C & AG, a specific sub-head has been created for payment of "penalty" under various descriptions of services. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3. Henceforth, the sub-head "other receipts" is meant only for payment of interest payable on delayed payment of service tax. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4. Accounting Codes under the sub-head "deduct refunds" is not to be used by the taxpayers, as it is meant for use by the field formations while allowing refund of tax. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5. Registrations obtained under the positive list approach continue to be valid. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">6. New taxpayers can obtain registrations by selecting the relevant description/s from among the list of 120 descriptions of services given in the Annexure. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">7. Where registrations have been obtained under the description 'All Taxable Services', the taxpayer should file amendment application online in ACES and opt for relevant description/s from the list of 120 descriptions of services given in the Annexure. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">8. If any applications for amendment of ST-1 are pending with field formations, seeking the description 'all taxable services', such amendment may not be necessary and the officers in the field formations may provide necessary guidance to the taxpayers in this regard. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">9. Directorate General of Systems will be making necessary arrangements for display of the list of 120 descriptions of services and their corresponding Accounting Codes in Form ST-1 and Form ST-2 as may be necessary. </font></p>
</blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Board instructs officers in the field formations to extend necessary guidance to the tax payers regarding the selection of appropriate description of taxable service and facilitate the payment of service tax/cess due under the appropriate accounting code. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">In our <strong><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=15752" target="_blank">CobWeb 307 - August 30 2012</a></strong>, we had remarked, </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><em>One of the Chief Commissioners rued the loss of service tax code after the introduction of Negative List of Services. The rationale was - the CBEC was, under the old regime (The Positive List), collecting service tax deposited under specific head like telecom, banking, share-broking etc, and such primary data was a good help for the monitoring authorities. Now that, a common code has been provided as none knows what all services are taxable today (for instance, TIOL recently received a query - whether tailoring is liable to service tax?), all taxpayers are required to deposit tax under <strong>single code</strong>. But the fact remains that a valuable monitoring tool, which could have been saved from falling in disuse, is lost. Earlier, the tax collection under one head used to indicate the trend of growth or slowdown in that specific sector, and any mismatch was a good indicator of flourishing tax evasion in that sector. </em></font></p>
<p align="justify"><em><font size="2" face="Verdana, Arial, Helvetica, sans-serif">With the point being impressively made, the Finance Minister could not resist raising the query - Who did it? Whose idea was this? Silence was obviously the prompt answer. Even before one could let the cat out of the bag, he had made up his mind and called for a fresh look at this issue. And, if the proposal to be put up coming Monday makes sense to him, without causing any chagrin to the taxpayers, one may expect some changes in the service tax return form. Incidentally, a good number of banks are perhaps not aware of the introduction of the Negative List and the notification of the common code, and that is why they have not done away with the service code for depositing tax. If the FM decides to retain the old service codes for earlier notified services, and a common code for new services joining the tax net, which can be allotted fresh code after a year - and after a review based on the quantum of tax mobilisation, the banks can save themselves from making changes at their end. But, a word of caution is necessary for FM here - TIOL has come to know that a few assessees, who deposited their service tax under a different head, were recently issued Show Cause Notice for not paying tax under correct head and have been asked to pay the same again<strong> with interest and penalty</strong>! The FM will have to put a full stop to this sort of SCN-manufacturing by the insensitive officers in the Department if he intends to see a revival of the business in the economy . </font></em></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">We were told that the old accounting codes would be restored in the first week of September, but it took more than two months -quite normal for Government functioning. </font></p>
<p><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=41&filename=notification/servicetax/2012/sercir165.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">CBEC Circular No.165/16/2012 -ST, Dated: November 20, 2012 </font></strong></a></p>
<p><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=41&filename=notification/servicetax/2012/annexure_sercir165.htm">Annexure</a></font></strong></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">Exemption to ASTRA - Government Revives Dead Notification</font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>AS </strong>per Sl. No. 24 of the Table to the Notification No. 64/95 - CE dated 16-3-1995; Equipment and stores used for the systems and sub-systems of Project ASTRA of the Government of India in the Ministry of Defence are exempted from the whole of excise duty. But this was effective only till31-8-2012. Now the Government has extended this exemption till28-2-2013, but effective from 19-11.2012. There was no exemption for the period 1-9-2012 to 18.11.2012, simply because somebody in the Board was sleeping! </font></p>
<p><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=30&filename=notification/excise/2012/etariff12_39.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Notification No.39/2012-CX., Dated: November 19, 2012 </font></strong></a></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">Similar Mess in Customs </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>As</strong> per Sl. No. 30 of the Table to the Notification No. 39/96-Cus dated 23-7-1996; Machinery, equipment, instruments, components, spares, jigs and fixtures, dies, tools, accessories, computer software, raw materials and consumables required for the purpose of Air-to-Air Missile System (Project ASTRA) of the Ministry of Defence are exempted from the whole of customs duty. But this was also effective only till 31-8-2012. Now the Government has extended this exemption till28-2-2013, but effective from 19-11.2012. There was no exemption for the period 1-9-2012 to 18.11.2012, simply because somebody in the Board was sleeping! </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">What if there were any imports during this period when there was no exemption? Litigate till Tribunal! </font></p>
<p><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=23&filename=notification/custom/2012/ctariff12_058.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Notification No.58/2012-Cus., Dated: November 19, 2012 </font></strong></a></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">Export of Goods and Software - Realisation and Repatriation of Export Proceeds - Liberalisation </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>RBI</strong> had in 2011 enhanced the period of realization and repatriation to India of the amount representing the full export value of goods or software exported, from six months to twelve months from the date of export. This relaxation was available up to September 30, 2012.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Now RBI has decided to extend the above relaxation with effect from October 01, 2012 till March 31, 2013. </font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=280&filename=notification/rbi/2012/rbi12cir052.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">RBI A.P. (DIR Series) Circular No. 52; Dated: November 20, 2012 </font></strong></a></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">What is ‘Infrastructure Lending'? </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>LIST of sub-sectors for ‘Infrastructure Lending':</strong> A credit facility extended by lenders (i.e. banks and select AIFIs) to a borrower for exposure in the following infrastructure sub-sectors will qualify as ‘infrastructure lending': </font></p>
<table width="90%" border="1" align="center" cellpadding="3" cellspacing="0">
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<td width="11%" valign="top"><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Sl.No. </font></strong></p></td>
<td width="23%" valign="top"><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Category </font></strong></p></td>
<td width="66%" valign="top"><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Infrastructure sub-sectors </font></strong></p></td>
</tr>
<tr>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Transport </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">i. Roads and bridges <br>
</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">ii. Ports <br>
</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">iii. Inland Waterways <br>
</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">iv. Airport <br>
</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">v. Railway Track, tunnels, viaducts, bridges<br>
</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">vi. Urban Public Transport (except rolling stock in case of urban road transport) </font></p> </td>
</tr>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Energy </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">i. Electricity Generation <br>
</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">ii. Electricity Transmission <br>
</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">iii. Electricity Distribution <br>
</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">iv. Oil pipelines <br>
</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">v. Oil/Gas/Liquefied Natural Gas (LNG) storage facility <br>
</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">vi. Gas pipelines </font></p> </td>
</tr>
<tr>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Water & Sanitation </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">i. Solid Waste Management <br>
</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">ii. Water supply pipelines <br>
</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">iii. Water treatment plants <br>
</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">iv. Sewage collection, treatment and disposal system <br>
</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">v. Irrigation (dams, channels, embankments etc) <br>
</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">vi. Storm Water Drainage System </font></p> </td>
</tr>
<tr>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Communication </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">i. Telecommunication (Fixed network) <br>
</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">ii. Telecommunication towers </font></p> </td>
</tr>
<tr>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Social and Commercial Infrastructure </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">i. Education Institutions (capital stock) <br>
</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">ii. Hospitals (capital stock) <br>
</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">iii. Three-star or higher category classified hotels located outside cities with population of more than 1 million <br>
</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">iv. Common infrastructure for industrial parks, SEZ, tourism facilities and agriculture markets <br>
</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">v. Fertilizer (Capital investment) <br>
</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">vi. Post harvest storage infrastructure for agriculture and horticultural produce including cold storage <br>
</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">vii. Terminal markets <br>
</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">viii. Soil-testing laboratories <br>
</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">ix. Cold Chain </font></p> </td>
</tr>
</table>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=wnew/rbi_notification.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">RBI/2012-13/297 DBOD.BP.BC.No. 58 / 08.12.014 /2012-13, Dated: November 20, 2012 </font></strong></a></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">CBEC Pavilion at India International Trade Fair 2012 </font></strong></p>
<p align="center"><img src="http://www.taxindiaonline.com/RC2/image/stories/ITF_2012.jpg" alt="Legal Corner Icon" width="407" height="292" hspace="5" border="0" align="center"></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>REVENUE</strong> Secretary Sumit Bose inaugurated the CBEC PAVILION at 32nd India International Trade Fair 2012, at Pragati Maidan, New Delhi in presence of Praveen Mahajan, Chairperson, Central Board of Excise and Customs, Shobha L. Chary, Member (P&V), and Lipika Majumdar Roy Chaudhary, Member (ST) and other senior officers of the department. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">This is the first time that CBEC has come up with a pavilion at the IITF. CBEC PAVILION show cases the achievements of the department in administration of all three taxes, viz., Customs Duty, Central Excise Duty and Service Tax with a focus on the NEW APPROACH TO TAXATION OF SERVICES, WHEREIN ALL SERVICES ARE TAXABLE EXCEPT THOSE THAT ARE INCLUDED IN THE NEGATIVE LIST OR ARE IN THE EXEMPTED CATEGORY.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Pavilion has an interactive format to engage visitors with skits, quiz shows and painting and singing competition for children. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The pavilion has also highlighted the martyrs of the department who have laid down their lives on the call of duty and sports heroes like Leslie Claudius, Anju Bobby George, Gulshan Rai - all Padma Shri awardees. It has also brought out the role of Customs Department in environmental protection by way of GREEN CUSTOMS INITIATIVE. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">But how about providing some financial assistance to Leslie Claudius? </font></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">Hyderabad Customs Impounds 41 Smuggled Vehicles </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>HYDERABAD</strong> Customs has impounded 41 non-duty paid vehicles and 42,000 litres of smuggled Iranian oil in a campaign launched to curb smuggling, said officials on Monday. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Hyderabad Customs seized two oil tankers, carrying 42,000 litres of smuggled Iranian high-speed diesel valuing Rs4.2 million. The officials said that three people were arrested in the case. Moreover, a total of 41 non-duty paid or smuggled vehicles valuing Rs3.5 million have also been impounded by the Customs during a special campaign against the smuggled vehicles and cases have been registered against the offenders, as reported by the International News yesterday. </font></p>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">This Hyderabad is in Pakistan. </font></p>
<p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#006600">Jurispruden</font><font color="#FF6633" size="5">tiol</font><font color="#006600"> – Thursday's cases</font></strong></font></strong></font></p>
<p><strong><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif"><img src="http://www.taxindiaonline.com/RC2/image/stories/ddt_hammer.jpg" alt="Legal Corner Icon" width="100" height="84" hspace="5" border="0" align="left">Customs </font></strong></p>
<p align="justify"><strong><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif">Appeal is not maintainable before CESTAT against an order passed under section 110A of Customs Act, 1962 in respect of provisional release of seized goods: CESTAT by Majority </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>JUDICIAL</strong> propriety demands that the decision of the Division Bench is to be followed in preference over the decision of the Single Member, which is passed without taking into consideration the earlier decision, passed by the Division Bench. </font></p>
<p align="justify"><strong><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif">Income Tax </font></strong></p>
<p align="justify"><strong><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif">Whether non-payment of interest to cooperative bank attracts provisions of Sec 43B - NO: Bombay HC </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> assessee is an individual engaged in the business of trading in cotton bales. For the AY 2004-05, the respondent-assessee filed his return of income declaring a loss. In his return, the respondent assessee had claimed a deduction/expense on account of interest payable by him to Shree Mahalaxmi Mercantile Co-operative Bank Limited on a loan taken. During the course of the assessment proceedings the AO noticed that the amount of interest of Rs.52.85lacs had not been actually paid even upto the date of filing of return of income. Consequently, the AO disallowed the deduction/expenses u/s 43B of the Act and added it back to the income of the assessee. </font></p>
<p align="justify"><strong><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif">Central Excise </font></strong></p>
<p align="justify"><strong><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif">Soft cotton waste arising during carding and combing of ginned cotton - Process does not amount to manufacture - CESTAT.</font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE </strong>appellant are a 100% EOU engaged in manufacture of 100% cotton yarn falling under Chapter heading 52.05 for export. In course of manufacture of cotton yarn, soft waste arises at carding and combing stage, which was being cleared by the appellant to DTA without payment of duty. According to Department, soft cotton waste became excisable with effect from 16/3/95 and was chargeable to Central excise duty at 12.5% adv. and the appellant neither paid duty on DTA clearance of soft cotton wash, nor informed the Department about these clearances. </font></p>
<p align="justify"><strong><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif">See our columns Tomorrow for the judgements </font></strong></p>
<p align="justify"><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif">Until Tomorrow with more <strong>DDT</strong></font></p>
<p align="justify"><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif">Have a Nice Day </font></p>
<p><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif">Mail your comments to</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"> <a href="mailto:vijaywrite@taxindiaonline.com"><strong>vijaywrite@taxindiaonline.com </strong></a></font></p>
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