| Pricing norms for issue of shares to person resident outside India Posted: 28 Apr 2010 08:49 PM PDT 
The Reserve Bank of India (RBI) has issued Notification no. FEMA 205/2010-RB dated 7 April 2010 (Notification), which has amended the regulation in connection with pricing norms for issue of shares by an Indian company to a person resident outside... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Proposed Regulatory Framework for Core Investment Companies (CICs) – Draft guidelines Posted: 28 Apr 2010 08:32 PM PDT 
The Reserve Bank of India Act, 1934 (RBI Act) requires a Non-banking Financial Company (NBFC) undertaking inter-alia, the business of acquisition of shares, stock, bonds, debentures or other marketable securities to obtain a Certificate of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| CBDT Clarification on Interception of Telephonic Conversations Posted: 28 Apr 2010 08:21 PM PDT 
A section of the media has reported communication between the Income Tax department and the Central Bureau of Investigation regarding records of telephonic conversations between a person by the name of Nira Radia and others. It is also reported,... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Finance Act, 1994 need to be amended to clear the doubts about allowability of Input Tax credit to Software and BPO Companies Posted: 28 Apr 2010 08:19 PM PDT 
The Custom Excise & Service Tax Appellate Tribunal said in a recent ruling that the wording of the Act is such that exporters of services such as software and business process outsourcing companies cannot claim credit for taxes paid on inputs... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| No proposal with Government of India for e-registration of FIRs through Public Kiosks Posted: 28 Apr 2010 08:14 PM PDT 
A review Committee on Police Reforms, constituted by the Ministry of Home Affairs, made a recommendation for 'Free Registration of Crime'. The Recommendation was sent to all States/UTs for implementation as 'Police' is a State subject. There is no... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| IRDA asked insurance companies to disclose commission on ULIPs Posted: 28 Apr 2010 08:11 PM PDT 
Insurance regulator IRDA has asked life insurers to disclose the commission paid to agents for unit-linked products amid a debate over huge pay-outs given to them vis-a-vis mutual funds. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Shri Salman Khurshid Asks His Ministry's Field Officers to Reach Out to the Corporates and Help Them Make Their Compliances upto-Date Posted: 28 Apr 2010 08:10 PM PDT 
All India Conference of Regional Directors of Ministry of Corporate Affairs, Registrars of Companies and Official Liquidators Begin. Shri Salman Khurshid, Minister for Corporate Affairs, has said that the focus of his Ministry as well as the field... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| DGFT Public Notice No: 58/2009-2014- Fixation of new SION C 2047 Posted: 28 Apr 2010 07:42 PM PDT 
In the statement of Standard Input Output Norms (SION) as contained in the Handbook of Procedures (Vol.II), 2009-2014, as amended from time to time, addition of new SION C2047 at appropriate places, as mentioned in ANNEXURE "A" to this Public... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Announcement for students appearing in May 2010 and November 2010 examinations PE-II [Income-tax and Central Sales Tax] and PCC/IPCC [Taxation] Posted: 28 Apr 2010 07:38 PM PDT 
For students appearing in May 2010 and November 2010 examinations, the amendments made by the Finance (No.2) Act, 2009, as applicable for assessment year 2010-11 are relevant. Therefore, the amendments made by the Finance (No.2) Act, 2009 which are... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Announcement for students appearing in May 2010 and November 2010 examinations Final (Old) Course [Direct Taxes] and Final (New) Course [Direct Tax Laws] Posted: 28 Apr 2010 07:31 PM PDT 
For students appearing in May 2010 and November 2010 examinations, the amendments made by the Finance (No.2) Act, 2009, as applicable for assessment year 2010-11, are relevant. Therefore, the amendments made by the Finance (No.2) Act, 2009 which are... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Notification No. 26/2010, 27/2010, 28/2010- Section 35(1)(ii) of the Income-tax Act, 1961 – Scientific research expenditure – Approved scientific research associations/institutions Posted: 28 Apr 2010 07:26 PM PDT 
It is hereby notified for general information that the organization M.P Birla Instiute of Fundamental Research, Kolkata has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| SEBI circular on Margining of institutional trades in the cash market Posted: 28 Apr 2010 07:16 PM PDT 
Reserve Bank of India (RBI) vide A. P. (DIR Series) Circular no. 47 dated April 12, 2010 has permitted FIIs to offer domestic Government Securities (acquired by the FIIs in accordance with the provisions of Schedule 5 to Notification No. FEMA... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| FM's opening speech at consideration of Finance Bill-2010 Posted: 28 Apr 2010 07:03 PM PDT 
I have already informed the House that the Government is firmly committed to the goal of comprehensive tax reform through the introduction of the Direct Taxes Code (DTC) as well as the Goods and Services Tax (GST). I am happy to inform the Hon'ble... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| 1.50 Crore Bribe case: Court extended custody of Sumitra Banerjee, Family members of Anirudh Rai applied for anticipatory bail Posted: 28 Apr 2010 06:57 PM PDT 
A special court on Tuesday extended the judicial custody of income tax official Sumitra Banerjee and her husband, Subrato, to May 11. Sumitra, an additional IT commissioner, was nabbed by CBI officers on April 17 for demanding a bribe of Rs 1.5... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| RoC issued show-cause notice to KKR for inadequate regulatory filing, May Issue notice to other IPL Franchisees too Posted: 28 Apr 2010 06:43 PM PDT 
The Registrar of Companies (RoC) on Tuesday issued a show-cause notice to Kolkata Knight Riders (KKR) for inadequate regulatory filing, as it prepares to shoot off similar letters to some other franchisees. The registrar found that Red Chillies... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| NYSE allowed Satyam to remain listed till 15th October Posted: 28 Apr 2010 06:25 PM PDT 
The New York Stock Exchange (NYSE) has given Satyam Computer time till October 15, 2010, to file its annual report and allowed it to remain listed on the US bourse till then. ED records statements of Satyam accused. Satyam had sought more time... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Income tax department keeping tight vigil on Indians visiting tax heavens Posted: 28 Apr 2010 06:18 PM PDT 
The income tax department is keeping a tight vigil on Indians, notably the ones suspected of owning bank accounts, visiting tax paradises such as Switzerland, Cayman Islands, Mauritius and the Bahamas, as it amplifies efforts to trace tax evasion... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| IPL franchises failed to submit their annual returns with ROC Posted: 28 Apr 2010 06:01 PM PDT 
The initial probe of the corporate affairs ministry into the affairs of the IPL franchises has revealed that some of them had failed to submit their annual reports , including balance sheets, for different years for which they have now been issued... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
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