| All about Arbitrage Posted: 01 Jun 2010 08:51 PM PDT 
In simple terms, Arbitrage is a system, or concept, that has been around for hundred of years, but there is still no any perfect definition of what it is. Your stock broker may give you one definition, while a commodities broker may tell you it's... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Frequently Asked Questions on Company Law Settlement Scheme, 2010 Posted: 01 Jun 2010 08:46 PM PDT 
What is Company Law settlement Scheme, 2010 (CLSS), 2010? . "Company Law Settlement Scheme, 2010" is a scheme to give opportunity to the defaulting Companies to enable them to make their default good by filing belated documents and to become a... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Frequently Asked Questions on Easy Exit Scheme, 2010 Posted: 01 Jun 2010 08:31 PM PDT 
Q. What is Easy Exit Scheme (EES), 2010? A. "Easy Exit Scheme, 2010" is a scheme to give opportunity to the defunct companies to get their names struck off from the register under Section 560 of the Companies Act, 1956. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Decision on company law tribunal may be referred back to apex court Posted: 01 Jun 2010 08:20 PM PDT 
The Corporate Affairs Ministry has termed the Supreme Court verdict disallowing civil servants belonging to the Indian Corporate Law Service (ICLS) from being members of the proposed National Company Law Tribunal (NCLT) as "disappointing." The... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Window for issuing warrants and partly-paid shares to non-residents is still open Posted: 01 Jun 2010 08:16 PM PDT 
The Centre has not closed the window for issuing warrants and partly-paid shares to non-residents even as the recently announced consolidated FDI policy framework excluded these instruments from the definition of "capital", a senior Government... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Government decided to allow Indian companies to freely enter into share-swap deals with foreign firms to facilitate cross-border mergers and acquisitions Posted: 01 Jun 2010 08:11 PM PDT 
The government has decided to allow Indian companies to freely enter into share-swap deals with foreign firms to facilitate cross-border mergers and acquisitions, provided such deals are consistent with the country's policy on foreign direct... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Notification under regulation 3 of the Securities and Exchange Board of India (Certification of Associated Persons in the Securities Markets) Regulations, 2007 Posted: 01 Jun 2010 08:03 PM PDT 
In terms of sub-regulation (1) of regulation 3 of the Securities and Exchange Board of India (Certification of Associated Persons in the Securities Markets) Regulations, 2007 (the Regulations), the Board is empowered to require, by notification, any... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Section 18A of the Central Sales Tax Act, 1956 – Appeals to highest appellate authority of state – Appointed day notified for purposes of section 18A(2) Posted: 01 Jun 2010 07:59 PM PDT 
In exercise of the powers conferred by Explanation to sub-section (2) of Section 18A of the Central Sales Tax Act, 1956 (74 of 1956), the Central Government hereby appoints the 1st June, 2010 as the appointed day for the purposes of the said... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Ministry of Tourism Announces a Scheme of Interest Subsidy on Hotel Loans for Upgradation of Approved / Licensed Guest Houses in Delhi for Commonwealth Games, 2010 Posted: 01 Jun 2010 07:54 PM PDT 
In view of the forthcoming Commonwealth Games, Delhi - 2010, and in order to encourage growth of budget accommodation of the Approved / Licensed Guest Houses in the NCT of Delhi, the Ministry of Tourism has introduced a "Interest Subsidy Scheme for... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Amendment) Regulations, 2010 Posted: 01 Jun 2010 07:49 PM PDT 
Price of shares issued to persons resident outside India under this Schedule, shall not be less than - (a) the price worked out in accordance with the SEBI guidelines, as applicable, where the shares of the company is listed on any recognised stock... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| DGFT- Corrigendum to Public Notice No. 64/2009-14 dated 18th May, 2010 Posted: 01 Jun 2010 07:45 PM PDT 
In exercise of the powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-14 and Paragraph 1.1 of Handbook of Procedures (Vol.1), the Director General of Foreign Trade hereby makes the following correction to Public Notice No. ... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| ICAI invites views/suggestions for simplification and rationalization of the provisions of the Chartered Accountants Regulations, 1988 Posted: 01 Jun 2010 07:34 PM PDT 
As you are aware, the Institute of Chartered Accountants of India (ICAI) was established on 1st July, 1949 for regulating the profession of Chartered Accountants in India. The Chartered Accountants Act, 1949 provides for the framework/scheme of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Change of Examination Centres for CPT June-2010 Exam Posted: 01 Jun 2010 07:31 PM PDT 
Due to paucity of accommodation in some Zones opted by the candidates in the cities of Cheenai, Indore, Kolkata, Mumbai and Thane some of the candidates have been allotted examination Centres in other Zones of the said cities where the accommodation... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| CAG will help CBI in 2G Spectrum case Posted: 01 Jun 2010 07:22 PM PDT 
The Central Bureau of Investigation (CBI), which hopes to complete the probe into the 2G Spectrum case within a year, has roped in the Comptroller and Auditor General (CAG) to help ascertain the alleged financial irregularities in distribution of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| TDS on salary: Employees responsibility if employer defaults Posted: 01 Jun 2010 07:18 PM PDT 
The Income-Tax Act casts responsibility on the employer for tax deduction at source (TDS) at the time of payment of salary to employees whose salary income is above the maximum amount not chargeable to tax. The employer is required to deduct TDS on... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| IPL team owners refused to divulge funding details to Income Tax department Posted: 01 Jun 2010 07:01 PM PDT 
The Income Tax (I-T) department, which is investigating the origin of funds invested in Indian Premier League (IPL) teams, has run into a road block as most of the team owners have refused to part with their funding details. The I-T department's... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| IT department will issue demand notice to Vodafone, Vodafone says no tax is payable Posted: 01 Jun 2010 06:50 PM PDT 
In a setback to telecom service provider Vodafone, the Income Tax Department on Monday said it has the jurisdiction to tax the $11.1-billion Vodafone- Hutchison Essar deal of February 2007. "We have jurisdiction over taxing Vodafone. Jurisdiction... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Delhi HC asked telecom companies to submit their account books to CAG Posted: 01 Jun 2010 06:41 PM PDT 
The Delhi High Court on Tuesday asked telecom companies to submit their account books to the Comptroller and Auditor General of India (CAG). CAG had been asked by the Centre to check under-reporting of revenue for calculating the licence fee. A... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| 21 Things a New Entrant of Legal Profession Should Know? Posted: 01 Jun 2010 06:27 PM PDT 
We need so many reforms in legal education in India and also in the whole legal system. Our Prime Minister Dr.Manmohan Singh has given a great speech in the recent past telling the truth about legal education and also legal profession. The Bar... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| ICAI recommends sending of Bank confirmation Letter directly to the Statutory Auditor concerned Posted: 01 Jun 2010 08:57 AM PDT 
The Reserve Bank of India should ask all commercial banks to send their confirmation letters of bank account balances only to the statutory auditors and not to the company concerned. This recommendation forms part of the second report of the ICAI's... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Ordinary Taxpayers or Superhumans? Posted: 01 Jun 2010 08:38 AM PDT 
Our tax laws are replete with instances where taxpayers are required to do acts which are near impossible, which are beyond their powers, or for which they have to go to extraordinary lengths. Not only that, failure to comply with such provisions... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Custom Duty Notification No. 44/2010 – Customs (N. T.) dated 31st May, 2010 Posted: 01 Jun 2010 08:06 AM PDT 
In exercise of the powers conferred by sub-section (1) of section 5 of the Customs Tariff Act, 1975 (51 of 1975), the Central Government hereby makes the following rules further to amend the Customs Tariff [Determination of Origin of Goods under the... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Custom Duty Notification No. 43/2010 – Customs (N. T.) dated 31st May, 2010 Posted: 01 Jun 2010 08:00 AM PDT 
In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following further amendment in the notification of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Export of excisable goods which are chargeable to nil rate of duty or are wholly exempted from payment of duty, other than goods cleared by a 100% EOU, shall not be allowed under specified notification Posted: 01 Jun 2010 07:53 AM PDT 
that export of excisable goods which are chargeable to nil rate of duty or are wholly exempted from payment of duty, other than goods cleared by a hundred per cent export-oriented undertaking, shall not be allowed under this notification;" [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Meaning of Turnover or sales for the purpose of Tax Audit Posted: 01 Jun 2010 07:29 AM PDT 
A person is required to get his accounts audited u/s 44AB if 1) The turnover of business exceeds Rs 60 Lakhs, or 2)The Gross Receipts of Profession exceed Rs 15 Lakhs. In case of business what should be the meaning of turnover/sales? Should it be... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
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