Inspection of Corporate Agents by the Insurer Posted: 09 Jun 2010 08:56 PM PDT 
Instances have come to the notice of the Authority that a large number of firms were floated by the same set of individuals under different or similar names to act as Corporate Agents. Some of corporate agents were observed to utilize the services... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
A view on deductibility of TDS on service tax and other expenses included in Bill amount Posted: 09 Jun 2010 08:55 PM PDT 
There are 18 Sections in Income Tax Act, 1961 that provides for Deduction of Tax at Source. Out of these 18, only 3 sections [194C, 194J and 194L] use that phrase "on income comprised therein". Further these words appear at the end of the taxing... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
Income Tax Welfare Fund with a Corpus of Rs.100 Crore Operationalised after 12 Years Posted: 09 Jun 2010 08:52 PM PDT 
Income Tax Welfare Fund with a Corpus of Rs.100 Crore Operationalised after 12 Years. Finance Minister asks CBDT to Address the Issue of Unwanted Litigation with Taxpayers and Realise Locked up Revenue in Appeals. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
Revised DTC draft will be put for public comments within a month Posted: 09 Jun 2010 08:51 PM PDT 
With the draft direct taxes code being criticised for its proposal to tax long-term savings among others, the finance ministry on Wednesday said a revised draft will be put for public comments within a month for addressing the concerns of all... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
Things to check before accepting new Job Posted: 09 Jun 2010 08:51 PM PDT 
AFTER months of job search and multiple interviews, you get an offer letter. You think it's the pay off time for all the efforts that have gone into the job search. But at this stage, you have to exercise extreme caution to read the fine print and... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
High Court stays tax demand raised on Vodafone Posted: 09 Jun 2010 08:50 PM PDT 
The Bombay High Court today issued a stay order on the showcause notice sent by the Income Tax (I-T) Department to British telecom major Vodafone. The I-T Department had asked the company to pay Rs 12,000 crore as tax on its acquisition of a... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
Vodafone was advised by Income Tax department to pay withholding tax before payment Posted: 09 Jun 2010 08:50 PM PDT 
THE Indian tax authorities had advised British telecom major Vodafone to pay tax on its $11-billion acquisition of Hutchison Essar before it sealed the transaction, according to a recent income tax order. In a letter on March 23, 2007, the Income... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
Government setting up eight more overseas income tax units: FM Posted: 09 Jun 2010 08:39 PM PDT 
Market regulator SEBI today imposed a penalty of Rs 1 crore on Manmohan Shetty, the former chairman of media company Adlabs Films, for allegedly violating insider trading norms. Shetty was accused of selling shares of the company within 24 hours of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
SEBI imposed Rs 1 crore penalty on ex-Adlabs chairman Shetty Posted: 09 Jun 2010 08:36 PM PDT 
Market regulator SEBI today imposed a penalty of Rs 1 crore on Manmohan Shetty, the former chairman of media company Adlabs Films, for allegedly violating insider trading norms. Shetty was accused of selling shares of the company within 24 hours of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
Section 4 of the Securities Contracts (Regulation) Act, 1956 – Grant of recognition to Stock Exchanges – Renewal of recognition to Bhubaneswar Stock Exchange Limited, Bhubaneswar Posted: 09 Jun 2010 08:30 PM PDT 
The Securities and Exchange Board of India, having considered the application for renewal of recognition made under Section 3 of the Securities Contracts (Regulation) Act, 1956 by Bhubaneswar Stock Exchange Limited having its registered office at... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
Govt may modify 25 pc public holding rules Posted: 09 Jun 2010 08:28 PM PDT 
The government today said it may consider changes in recently announced norms for minimum 25 per cent public holding in listed companies, if need arises. "The Ministry of Finance and the Department of Disinvestment are receiving different points of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
RBI circular on Exposure to Real Estate and Commercial Real Estate sector – UCBs Posted: 09 Jun 2010 08:20 PM PDT 
Please refer to paragraph 2.3.1 of our Master circular UBD. PCB. MC. No.1/13.05.000 / 2009-10 dated July 1, 2009 on Exposure Norms and Statutory / Other restrictions. In terms of the circular, the total exposure of UCBs to real estate including... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
DGFT Public Notice No. 73/2009-2014 – Amendment in Para 5.1A of HBP Vol.I, 2009-2014 Posted: 09 Jun 2010 08:16 PM PDT 
In exercise of the powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-14 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 ]]  |
Custom Notification No 67/2010-Amends Notification No. 96/2008-Customs, dated the 13th August, 2008 Posted: 09 Jun 2010 08:09 PM PDT 
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
IRDA will prescribe rules for selling of Insurance product Posted: 09 Jun 2010 07:44 PM PDT 
The Insurance Regulatory and Development Authority (Irda) has now proposed to streamline the promotion of insurance products through distance sales channels, such as the telephone and the internet. It has said it will issue rules in this regard and... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
Section 4 of the Securities Contracts (Regulation) Act, 1956 – Grant of recognition to Stock Exchanges – Renewal of recognition to U.P. Stock Exchange Limited, Kanpur Posted: 09 Jun 2010 07:00 PM PDT 
The Securities and Exchange Board of India, having considered the application for renewal of recognition made under Section 3 of the Securities Contracts (Regulation) Act, 1956 by U.P. Stock Exchange Limited having its registered office at Padam... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
Employees' State Insurance (Amendment) Act, 2010 – Date of enforcement of said Act, except section 18 thereof, notified Posted: 09 Jun 2010 06:58 PM PDT 
Notification No. S.O. 1296(E), dated 1-6-2010. In exercise of the powers conferred by sub-section (2) of Section 1 of the Employees' State Insurance (Amendment) Act, 2010 (18 of 2010), the Central Government hereby appoints the 1st day of June,... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
Punjab ready for GST if Purchase Tax kept out of the Purview of GST Posted: 09 Jun 2010 05:31 PM PDT 
Punjab Planning and Finance Minister Manpreet Singh Badal, has maintained Punjab is ready for implementation of GST by 2011, provided the centre could exclude purchase tax. Manpreet Badal was speaking to media persons on the sidelines of a... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
Speech of the Hon'ble Finance Minister during the 26th Annual Conference of CCsIT/DGsIT at New Delhi on 9th June, 2010 Posted: 09 Jun 2010 05:24 PM PDT 
Direct Taxes, now the major resource provider to the Central Government, have grown at an average annual rate of 24 percent in the last five years and have nearly trebled from Rs.1,32,771 crore in financial year 2004-05 to about Rs.3,78,000 crore in... |
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