Amendment to the Maharashtra Value Added Tax Rules, 2005 & Central Sales Tax (Bombay) Rules, 1957 by trade circular 10T of 2010 Posted: 18 Mar 2010 09:16 PM PDT The State Government, may from time to time issue notification and notify class or classes of the dealer who shall be required to make the said payment electronically. Further, State Government may specify the period from which electronic payment is... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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Circular on Half Yearly Reporting by Portfolio Managers Posted: 18 Mar 2010 08:42 PM PDT The format for the half yearly report on portfolio management activity has been revised as per enclosed Annexure. All portfolio managers are advised to submit the half yearly report to SEBI in the revised format within 30 days after the end of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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SEBI circular to mutual funds for better transparency with various investor friendly measures Posted: 18 Mar 2010 08:33 PM PDT . Regulation 25 (8) of SEBI (Mutual Funds) Regulations, 1996 mandates that the payment of brokerage or commission, if any, to the sponsor or any of its associates, employees or their relatives, has to be disclosed in the half–yearly annual accounts... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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Central Sales Tax (Registration and Turnover) Amendment Rules, 2010 – Amendment in Rule 13 Posted: 18 Mar 2010 08:17 PM PDT In exercise of the powers conferred by sub-section (1) of Section 13 of the Central Sales Tax Act, 1956 (74 of 1956), the Central Government hereby makes the following further amendments in the Central Sales Tax (Registration and Turnover) Rules,... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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Government likely to provide more incentives to labour-intensive sectors Posted: 18 Mar 2010 08:12 PM PDT The government is likely to provide more incentives to labour-intensive sectors such as textiles, leather and engineering goods that were affected badly by the global slump in demand. "I have taken it (for some more sops like interest subsidy) up... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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Endowment plans and money-back policies which one to choose Posted: 18 Mar 2010 08:10 PM PDT Plans that return money during the policy tenure are money-back policies. These plans, usually, give a fixed percentage of the sum assured periodically. In a 15-year policy and sum assured of Rs 10 lakh cover, these plans could give 10 per cent of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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Banks asked to disclose more info on their depositors, borrowers, NPA accounts and SPV sponsored by them Posted: 18 Mar 2010 08:00 PM PDT The Reserve bank of India has asked banks to reveal more information on their market operations, including data related to top 20 depositors, 20 largest borrowers, exposure to four largest non-performing accounts and special purpose vehicles... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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Many Government companies not submitted their financial statements with ROC for as long as 26 Years Posted: 18 Mar 2010 07:48 PM PDT The corporate affairs ministry has decided to act tough with public sector undertakings (PSUs) that have not prepared and submitted their financial statements with the registrar of companies. As many as 658 state-run PSUs have piled up 2,539... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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Banks may be given extension of one year for adoption of IFRS Posted: 18 Mar 2010 07:45 PM PDT There is relief in store for Indian banks. The deadline to implement the International Financial Reporting Standards (IFRS) looks set to be extended to April 2012 from April 2011 for banking companies. It is learnt that banks may get more time to... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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ICAI looking to bar firm whose partner found guilty of Auditing fraund or Negligence Posted: 18 Mar 2010 07:42 PM PDT The Indian accounting sector regulator wants the government to bring in a provision to bar tainted firms from taking up any new assignments for a specific period. The move by the Institute of Chartered Accountants of India (ICAI) is the latest in... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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Banking facilities to be provided by March 2012 to habitations having population in excess of 2000 Posted: 18 Mar 2010 07:40 PM PDT In July, 2009, a total of 129 un-banked blocks were identified in the country. As a result of the concerted efforts made by the Government, Reserve Bank of India (RBI) and the Banks in providing banking facilities in the un-banked blocks, the... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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Snatching earth beneath landlord's feet with retrospective amendment Posted: 18 Mar 2010 09:00 AM PDT The renting of immovable property for commercial/business purpose was brought under service tax net in 2007. However, as has been the case with almost all the services the drafting of the provisions was not free from confusion. As per the definition... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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Clarification on imposition of VAT on Sugar and Fabric Posted: 17 Mar 2010 09:37 PM PDT Government of Maharashtra has raised the rate of tax under Schedule 'C' of Maharashtra Value Added Tax Act, 2002 from 4 per cent to 5% on goods other than declared goods with effect from 1st April 2010. A notification to this effect has been issued... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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