| US Treasury Department may label China as currency manipulator Posted: 25 Mar 2010 09:00 PM PDT "There is a high possibility definitely (that China will be labelled as a manipulator), but it is very important to remember that the decision is largely symbolic and does not force any action, other than consultations," the China Daily quoted... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Maharashtra Government imposed 1% Vat on property sale from April 1, 2010 in its Budget for 2010-11 Posted: 25 Mar 2010 08:56 PM PDT The Maharashtra Government has decided to levy one per cent Value-Added Tax on property sale from April 1, 2010 in its Budget for 2010-11. All sale agreements registered on or after April 1 will attract one per cent on the contract price of flats... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Government approves Corporate Governance guidelines for Central PSUs Posted: 25 Mar 2010 08:53 PM PDT The Union Cabinet today approved the continuation of Guidelines on Corporate governance for Central Public Sector Enterprises (CPSEs) on mandatory basis. The Guidelines have now been made mandatory and are applicable to all CPSEs. The guidelines... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Central asked other states to replicate Maharashtra in computerizing sales tax department Posted: 25 Mar 2010 08:43 PM PDT THE Centre asked other states to replicate Maharashtra's model of fully computerising its sales tax department before GST is introduced in April 2011. Full computerisation has not only helped the state win accolades, but also has resulted in higher... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| CAG recommended closure of non-functional PSUs Posted: 25 Mar 2010 08:35 PM PDT Comptroller and Auditor General of India has recommended to close down 10 non-functional state-owned public sector undertakings (PSUs) as they do not serve any purpose. In its report tabled today in the state Assembly, the CAG said, "The process of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| ICAI held former auditor of Bhubaneswar Stock Exchange guilty of professional misconduct Posted: 25 Mar 2010 08:27 PM PDT The disciplinary committee of the Institute of Chartered Accountants of India (ICAI) has held the former auditor of Bhubaneswar Stock Exchange (BhSE), Gokul Chandra Das of M/s. G.C. Das & Co, guilty of professional misconduct. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Maharashtra budget 2010- some of the highlights Posted: 25 Mar 2010 08:04 PM PDT Maharashtra has become the first State in the country to provide through Internet the electronic services like acceptance of registration application, filing of return and payment of taxes, application of refund, acceptance of audit report and... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Income tax officer caught accepting bribe Posted: 25 Mar 2010 08:01 PM PDT It was alleged in the complaint that the accused served a show cause notice to the complainant U/s 271 (b) of the Income Tax Act. for not filing the Income Tax Returns for the Annual year 2001-2002 & 2002-2003. He demanded a bribe of Rs.... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Impleadment of legal representatives – 397/398 – Indian company law Posted: 25 Mar 2010 07:45 PM PDT The issue of impleading legal representatives of a deceased party to a proceeding under section 397/398 of Companies Act, 1956 stands on a different footing to that of a normal Civil Suit. In a normal Civil Suit before a Civil Court, it is the rule... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| CBDT instruction to its staff regarding allowing losses on account of forex derivatives Posted: 25 Mar 2010 07:39 PM PDT "Marked to Market" is in substance a methodology of assigning value to a position held in a financial instrument based on its market price on the closing day of the accounting or reporting record. Essentially, 'Marked to Market' is a concept under... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| ICAI may summon CBI for Satyam audit papers Posted: 25 Mar 2010 07:36 PM PDT The CA institute would use its powers to summon the Central Bureau of Investigation (CBI) regarding the audit papers on the cash and bank balances in the Satyam scam, the Institute of Chartered Accountants of India (ICAI) President, Mr Amarjit... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| AAR ruled out taxability of Income of FII from derivatives trading Posted: 25 Mar 2010 07:28 PM PDT Income of foreign institutional investors (FIIs) from derivatives trading will not be liable to tax in India, the Authority for Advance Rulings has said, clearing the air on taxability of the income of foreign investors trading in Indian securities. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| CIC imposed penalty for not furnishing information under the RTI Posted: 25 Mar 2010 07:26 PM PDT The Central Information Commission (CIC) has ruled that excuses like 'shortage of staff and work overload' cannot be considered as reasons for not providing information under the Right to Information (RTI) Act and fined a local official for 'delay'... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Transfer of Members of ITAT Posted: 25 Mar 2010 07:10 PM PDT In pursuance of the consultations of the collegium of the I.T.A.T consisting of the President and two senior-most Vice Presidents, the following Members of the Income-tax Appellate Tribunal have been transferred, in public interest, in the same... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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