| DGFT- Grant of Status Holders Incentive Scrip benefit to textile garments Posted: 20 May 2010 08:52 PM PDT 
Policy Circular No. 33/2009-14 Dated: 19th May, 2010 To All Regional Authorities Sub: Grant of Status Holders Incentive Scrip benefit to textile garments. This has reference to Para 3.16.4 of the FTP 2009-14... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| DGFT- Import of Fuel' under Advance Authorization and DFIA Scheme –amendment thereof Posted: 20 May 2010 08:51 PM PDT 
In exercise of the powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2004-09 and Paragraph 1.1 of the Handbook of Procedures (Vol.1), the Director General of Foreign Trade hereby makes the following amendments in the Handbook of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| DGFT- New Office address of Regional Authority Vadodara and Amendment in Public Notice No. 55 dated 9.4.2010 Posted: 20 May 2010 08:48 PM PDT 
In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy 2009-2014, the Director General of Foreign Trade hereby makes the following amendment/ addition in the List of Regional Authorities and their Jurisdiction given under... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| DGFT- Amendments in the Handbook of Procedures, Vol. 1 relating to Free Sale and Commerce Certificate Posted: 20 May 2010 08:46 PM PDT 
PUBLIC NOTICE NO. 64/2009-14, NEW DELHI: DATED THE 18th MAY, 2010. In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy, 2009-14, the Director General of Foreign Trade hereby makes, with immediate effect, the following... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| DGFT-Import policy of worn clothing and other worn articles Posted: 20 May 2010 08:42 PM PDT 
In exercise of powers conferred under section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 2.1 of the Foreign Trade Policy, 2009-14, the Central Government hereby makes the following amendments in Schedule –1 of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| DGFT-Prohibition on Export of Non-basmati Rice – exemption regarding Posted: 20 May 2010 08:40 PM PDT 
In exercise of the powers conferred by Section 5 read with Section 3(2) of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) and also read with Para 1.3 and Para 2.1 of the Foreign Trade Policy, 2009-2014, the Central... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| DGFT- Amendment in Paragraph 1 of Notification No. 33(RE-2007)/2004-2009 dated 08.10.2007 Posted: 20 May 2010 08:40 PM PDT 
In exercise of the powers conferred by Section 5 read with Section 3(2) of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) and read with Para 1.3 and Para 2.1 of the Foreign Trade Policy, 2009-2014, the Central Government... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Dr. Pradnya Saravade and Shri Ananta Barua take charge as Executive Director, SEBI Posted: 20 May 2010 08:33 PM PDT 
Dr. Pradnya Saravade took charge as Executive Director, Securities and Exchange Board of India in Mumbai today. Dr. Saravade is from the 1989 batch of the Indian Police Service and has served in the states ofWest Bengal and Maharashtra and the... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Most taxpayer not filled form for rectification of mistake in respect of wrong recovery notice by IT Department Posted: 20 May 2010 08:33 PM PDT 
Driven by a rare sense of complacency, most Mumbaikars who received wrong recovery notices from the income tax (I-T ) department, have not yet chosen to set the record straight. Despite the fact that the I-T authorities have requested people to... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Buying and selling of immoveable properties in India by Non Resident Indians Posted: 20 May 2010 08:25 PM PDT 
Recently, the real estate sector in India is becoming an attractive investment ground for the diasporas who have evinced a keen interest in owning residential and commercial properties in India. Ganesh is a non resident Indian residing in London,... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| S. 43(5): Derivatives can be speculative transactions: ITAT Mumbai Posted: 20 May 2010 08:14 PM PDT 
In Shree Capital Services 121 ITD 498 (Kol) it has been held by the Special Bench that the amendment to s. 43(5)(d) is neither clarificatory nor retrospective in operation. Consequently, derivatives can be considered non-speculative u/s 43(5)(b)... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Stock brokers to provide the SEBI with status report on implementation of new client-broker agreement Posted: 20 May 2010 08:13 PM PDT 
Market regulator SEBI has asked stock brokers to provide the exchanges with a status report on the implementation of new client-broker agreement, which will become effective from June 30. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Government approves 24 Proposals of Foreign Direct Investment amounting to Rs. 1412.19 Crore approximately Posted: 20 May 2010 08:10 PM PDT 
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on May 7, 2010, Government has approved 24 Proposals of Foreign Direct Investment amounting to Rs. 1412.19 Crore approximately. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Mistakes to be avoided while executing financial transactions Posted: 20 May 2010 08:04 PM PDT 
While people tend to invest a lot of time and effort in evaluating investment avenues, the same cannot be said about the caution exercised during execution of the transaction. Even minor errors, many of them merely clerical in nature, could result... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Irda proposed to standardize definitions of lapsing, reviving and surrendering of ULIP policies Posted: 20 May 2010 08:00 PM PDT 
To make unit-linked insurance plans (Ulips) more transparent, the Insurance Regulatory and Development Authority (Irda) on Tuesday proposed to standardize definitions of lapsing, reviving and surrendering of these policies. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| SEBI relaxed share-listing norms for small and medium enterprises (SMEs) Posted: 20 May 2010 05:01 AM PDT 
The Securities and Exchange Board of India (SEBI) has relaxed share-listing norms for small and medium enterprises (SMEs) by allowing them to disclose their financial results every six months instead of three months, as is the norm for bigger... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Section 80-IA(4)(i) of the Income-tax Act, 1961 – Deductions – In respect of profits and gains from infrastructure facility – Clarification regarding widening of existing road –definition of a new infrastructure facility Posted: 20 May 2010 04:53 AM PDT 
Section 80-IA(4)(i) of the Income-tax Act, 1961 – Deductions – In respect of profits and gains from infrastructure facility – Clarification regarding widening of existing road –definition of a new infrastructure facility [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Sebi fines 2 cos for failing to dematerialise shares Posted: 20 May 2010 04:43 AM PDT 
The market regulator Sebi today penalised two companies--BTW Industries and GR Magnet--for delaying dematerialisation of securities for several years. While it imposed a penalty of Rs 40 lakh on BTW Industries, GR Magnet was fined Rs 12 lakh for... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Govt asked to extend date for e-filing I-T returns to 31st October Posted: 20 May 2010 04:30 AM PDT 
Industry players today asked the Finance Ministry to extend the last date for e-filing of returns by a month, to October 31, as listed firms would find it difficult to comply with the existing September 30 deadline. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Jeevan Akshay-VI approved for Income Tax deduction Under Section 80C Posted: 20 May 2010 04:21 AM PDT 
The Central Government have approved Jeevan Akshay-VI Plan of the Life Insurance Corporation of India as an annuity plan eligible for deduction under clause (xii) of sub-section (2) of section 80C of the Income Tax Act, 1961. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| ICAI's suggestion on LLP considered while passing Finance Bill, 2010 Posted: 20 May 2010 03:58 AM PDT 
The ICAI is pleased to note that its suggestion relating to exemption of capital gains in the hands of shareholders consequent to conversion of a company into a LLP, has found favour with the Government. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| VAT Cir – 17T of 2010 – Amendment to MVAT Act, Profession Tax Act and Luxury Tax Act Posted: 20 May 2010 03:50 AM PDT 
To give effects to the Budget proposals a Bill (Legislative Assembly Bill No. XLV of 2010) to amend the Maharashtra State Tax on Professions, Trades, Callings and Employment Act, 1975, Maharashtra Tax on Luxury Act, 1987 and the Maharashtra Value... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| List of tax-exempt port, airport services soon Posted: 20 May 2010 03:44 AM PDT 
THE finance ministry will soon put out a small list of essential services that will not be taxed at airports or ports, as it kicks off experimental enclaves of a comprehensive service tax regime that could be extended nation-wide later. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Mahindra Satyam keeping its investors in dark over details of its performance Posted: 20 May 2010 03:39 AM PDT 
Engineering and construction major Larsen &Toubro (L&T) is not happy with Mahindra Satyam (erstwhile Satyam Computer Services) for keeping its investors in the dark over details of its performance. Pune-based Tech Mahindra, the information... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| ICAI working to find the possibility to have mandatory classroom teaching plan for CPT, IPCC and Final Posted: 20 May 2010 03:29 AM PDT 
ICAI is working to find out the possibility to have mandatory classroom teaching plan for CPT, IPCC & Finals at various locations across the country with an objective to impart CA education. It is proposed to give classroom environment through... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Government intends to introduce direct taxes code in next parliament session Posted: 20 May 2010 03:26 AM PDT 
Centralized processing centres for improving tax payer services in two more places. Union Finance Minister Shri Pranab Mukherjee has said that the government intends to introduce the Direct Taxes Code in the forthcoming Monsoon Session of the... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Income Tax e –filing facility restored Posted: 20 May 2010 03:20 AM PDT 
The e – filing facility for the assessment year 2010 – 11 has been restored. The taxpayers can now e – file their income tax returns without any difficulty. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Section 206AA- A Nightmare for Non-Residents? (TDS Rate without pan) Posted: 17 May 2010 07:58 PM PDT 
Currently, tax department is issuing more than 7.5 million permanent account numbers (PANs) in a year through NSDL and, nowadays, PAN is being allotted in less than a week time. With increased modernisation of the Tax Department and electronic... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
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