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Jan 5, 2011

TaxGuru.in : Legal & Tax Updates 05.01.2011

 

TaxGuru.in : Legal & Tax Updates

Link to LEGAL & FINANCIAL  UPDATES FROM TAX GURU

Quattrochi Chadha Got Commission In Bofors Deal - IT Tribunal

Posted: 05 Jan 2011 12:48 AM PST

In sharp contrast to a nearly two-decade-long investigation by the CBI an income tax tribunal bench has ruled that Rs 41 crore was paid in bribes to Ottavio Quattrocchi an Italian businessman once considered a friend of the Gandh

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Empanelment Of Chartered Accountant Firms For PSUs Audit For The Year 2011-2012 - CAG

Posted: 05 Jan 2011 12:45 AM PST

Applications are invited online from the firm of Chartered Accountants who intended to be empaneled with this office for the year 2011-2012 for appointment as auditors of Government Companies Corporations nbsp The Format of applicat

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Policy Of Empanelment Of CA Firms And Selection Of Auditors Of PSUs

Posted: 05 Jan 2011 12:42 AM PST

Empanelment of CA firms Chartered Accountant firms in India with at least one full time See Note 1 Below FCA Partner Sole Proprietor can apply for empanelment with this office for allotment of audit of Public Sector Underta

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Tax Officials To Keep A Close Watch On IPL Auction Proceedings

Posted: 04 Jan 2011 11:26 PM PST

Enforcement and tax officials will keep a close watch on the proceedings of players auction for IPL-4 which will see as many as 350 top cricketers from India and abroad go under the hammer in Bangalore later this week nbsp The financi

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Sugar Mills In Maharashtra May Have To Rs 2 500 Crore Tax Arrears After CIT A Decided Against Them

Posted: 04 Jan 2011 10:23 PM PST

Around 100 cooperative sugar mills in Maharashtra have lost one round of a battle on income tax I-T arrears dating back to 1992-93 with an appellate authority rejecting their argument on dues nbsp If the decision by the commissi

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Government Initiates Inquiry Into Cadbury India S Takeover By US-based Kraft Food

Posted: 04 Jan 2011 10:08 PM PST

The government has initiated an inquiry into Cadbury India s takeover by US-based Kraft Food Inc on Delhi High Court s directive for alleged tax evasion and flouting of buyout norms The Finance Ministry has initiated the inquiry

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Oil Ind Seeks Petrol Diesel ATF Inclusion In GST

Posted: 04 Jan 2011 10:03 PM PST

With different tax rates leading to fuel prices varying from state to state the oil industry has demanded inclusion of crude oil and its products and natural gas in the reformist GST Goods and Services Tax regime nbsp Petrofed a

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Changes In Clients Trade Details To Attract Penalty- SEBI

Posted: 04 Jan 2011 09:47 PM PST

Market regulator SEBI today warned brokers that any change in trade details of clients after execution would attract monetary penalty if the reason is not genuine nbsp The decision has been taken to check any possible fraudulent activ

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Citibank Fraud - Puri Invested Most Of Funds In Derivatives

Posted: 04 Jan 2011 09:41 PM PST

The alleged mastermind of Rs 300 crore Citibank fraud Shivraj Puri invested most of the funds raised from corporate entities and high networth individuals in derivative instruments in stock markets A major chunk of investment into st

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Govt Examining Tax Tribunal Ruling In Bofors Case

Posted: 04 Jan 2011 09:36 PM PST

Finance Minister Pranab Mukherjee on Tuesday said the government is examining the decision of the Income Tax tribunal in the Bofors case and will decide the future course of action later nbsp nbsp As the Law Ministry has pointed

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Govt May Not Increase Import Duty On Edible Oils

Posted: 04 Jan 2011 09:34 PM PST

Amid rising prices of cooking oil the government is unlikely to increase import duty on crude and refined edible oils that currently stands at zero and 7 5 per cent respectively nbsp There will not be any increase in import duty of

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FM Cautions Against Window Dressing By Accountants

Posted: 04 Jan 2011 09:32 PM PST

In the wake of Citibank fraud and other scams Finance Minister Pranab Mukherjee today cautioned against window dressing by accounting firms and called for stricter disclosure guidelines nbsp Accountants have a critical role i

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Sahara Group Matter- Sebi Moves SC Can Demand Necessary Info

Posted: 04 Jan 2011 09:30 PM PST

Sebi has moved the Supreme Court against a High Court order staying the market regulator s ban on a Sahara group firm to raise funds from the public Sebi s petition is likely to be taken up by the apex court tomorrow for considerati

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Export In Dollar Terms Grows 26 50 Percent In November 2010

Posted: 04 Jan 2011 09:20 PM PST

India s exports during November 2010 were valued at US 18895 million Rs 85063 crore which was 26 5 per cent higher in Dollar terms 22 3 per cent higher in Rupee terms than the level of US 14933 million Rs 69537 crore d

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ICAI Organizes International Conference On Accountancy Profession

Posted: 04 Jan 2011 09:13 PM PST

The Institute of Chartered Accountants of India ICAI working under the aegis of the Ministry of Corporate Affairs is organizing a three-day International Conference on Accountancy Profession Catalyst to Sustained Economic Growt

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On-line Submission Of Application Clarification Regarding Use Of Manual Mode For Filing Application On DGFT S Server

Posted: 05 Jan 2011 12:55 AM PST

Policy Circular No 11 RE 2010 2009-14 nbsp Date nbsp 04 01 2011 nbsp Sub - On-line submission of application Clarification regarding use of manual mode for filing application on DGFT s server nbsp Recently

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Prohibition On Import Of Milk And Milk Products From China

Posted: 05 Jan 2011 12:53 AM PST

Notification No 16 RE 2010 2009-2014 New Delhi Dated 3rd January 2011 nbsp Subject - nbsp nbsp nbsp nbsp nbsp nbsp Prohibition on import of milk and milk products from China nbsp S O E nbsp nbsp nbsp nb

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Provisional Release Of Export - Goods Detained For Investigation- Circular No 01 2011-Customs

Posted: 05 Jan 2011 12:24 AM PST

Circular No 01 2011-Customs Dated - 4th January 2011 nbsp Subject nbsp nbsp nbsp nbsp nbsp Provisional release of export - goods detained for investigation reg nbsp Sir Madam nbsp nbsp nbsp nbsp nbsp

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Classification Of Polyester Bonded Fabrics And Other Bonded Fabrics Regarding- Circular No 2 2011-Customs

Posted: 05 Jan 2011 12:18 AM PST

Circular No 2 2011-Customs nbsp 4th nbsp January 2011 nbsp Subject - nbsp Classification of Polyester Bonded Fabrics and other Bonded Fabrics Regarding nbsp Sir Madam nbsp nbsp nbsp nbsp nbsp nbsp n

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Seeks To Amend Notification No 152 2010-Customs Dated 31st December 2009 So As To Prescribe Deeper Preferential Tariffs For The Import Of Specified Goods Under The India- Korea Comprehensive Economic Partnership Agreement CEPA

Posted: 05 Jan 2011 12:12 AM PST

Seeks to amend Notification no 152 2010-Customs dated 31st December 2009 so as to prescribe deeper preferential tariffs for the import of specified goods under the India- Korea Comprehensive Economic Partnership Agreement CEPA Notifi

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Custom Notification Providing Deeper Concession On Petroleum Oils And Oils Obtained From Bituminous Minerals Falling Under The Tariff Item 2709 00 00 Of The First Schedule To The Customs Tariff Act 1975

Posted: 05 Jan 2011 12:08 AM PST

Seeks to amend notification no 116 2010-Customs dated 1st nbsp November 2010 so as to provide deeper concession on Petroleum oils and oils obtained from bituminous minerals falling under the tariff item 2709 00 nbsp 00 nbsp of the Fir

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Seeks To Amend Notification No 153 2009-Cus Dated 31st December 2009 So As To Provide Deeper Concessions To ASEAN Countries Under The ASEAN-India Free Trade Agreement

Posted: 05 Jan 2011 12:02 AM PST

Notification nbsp No 135 2010 - Customs nbsp New Delhi dated the 31st December 2010 nbsp G S R nbsp nbsp nbsp nbsp nbsp nbsp nbsp E - In exercise of the powers conferred by sub-section 1 of section 25 of the Cu

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Seek To Amend Notifications 68 2006-Customs Dated 30 6 2006 Respectively So As To Enhance The Extent Of Tariff Concessions In Respect Of Specified Goods Imported From Member Countries Of South Asian Free Trade Agreement SAFTA Other Than Least Develop

Posted: 04 Jan 2011 11:56 PM PST

Seek to amend notifications 68 2006-Customs dated 30 6 2006 respectively so as to enhance the extent of tariff concessions in respect of specified goods imported from member countries of South Asian Free Trade Agreement SAFTA othe

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Seek To Amend Notifications 67 2006-Customs Dated 30 6 2006 Respectively So As To Enhance The Extent Of Tariff Concessions In Respect Of Specified Goods Imported From Member Countries Of South Asian Free Trade Agreement SAFTA Other Than Least Develop

Posted: 04 Jan 2011 11:51 PM PST

Seek to amend notifications 67 2006-Customs dated 30 6 2006 respectively so as to enhance the extent of tariff concessions in respect of specified goods imported from member countries of South Asian Free Trade Agreement SAFTA othe

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SEZ - Creation Of Single Window Mechanism For Granting Various Statutory Approvals Under Environmental And Regulation

Posted: 04 Jan 2011 11:16 PM PST

SEZ Creation of Single Window Mechanism for granting various statutory approvals under Environmental and Regulation INSTRUCTION NO 73 DATED 29-12-2010 The undersigned is directed to enclose a copy of D O letter No 23-16

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SEBI - Master Circular On Administration Of Stock Exchanges Arbitration In Recognised Stock Exchanges And Stock Exchanges Trading Platform For Small Medium Enterprises Including Guidelines For Market Makers

Posted: 04 Jan 2011 11:06 PM PST

SEBI Master Circular on Administration of Stock Exchanges Arbitration in recognised Stock Exchanges and Stock Exchanges trading platform for Small amp Medium Enterprises including guidelines for Market Makers MASTER CIRCULAR

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SEBI - Master Circular On Matters Relating To Exchange Traded Derivatives

Posted: 04 Jan 2011 11:02 PM PST

SEBI Master Circular on Matters relating to Exchange Traded Derivatives MASTER CIRCULAR NO DNPD 7 2010 DATED 31-12-2010 1 The Securities and Exchange Board of India has from time to time issued various circulars regard

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SEBI - Master Circular For Stock Exchanges And Depositories

Posted: 04 Jan 2011 10:53 PM PST

SEBI Master Circular for Stock Exchanges and Depositories MASTER CIRCULAR NO MRD DMS 40 2010 DATED 31-12-2010 1 Securities and Exchange Board of India SEBI has been issuing various circulars from time to time In order

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SEBI Issues Master Circular For Stock Exchange - Cash Market

Posted: 04 Jan 2011 10:47 PM PST

SEBI Master Circular for Stock Exchange - Cash Market MASTER CIRCULAR NO MRD DP 42 2010 DATED 31-12-2010 1 Securities and Exchange Board of India SEBI has been issuing various circulars from time to time In order to

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SEBI Issues Master Circular For Depositories

Posted: 04 Jan 2011 10:43 PM PST

SEBI Master Circular for Depositories MASTER CIRCULAR NO MRD DP 41 2010 DATED 31-12-2010 1 Securities and Exchange Board of India SEBI has been issuing various circulars directions from time to time In order to enable

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Basic PAN ITR Information

Posted: 04 Jan 2011 02:06 AM PST



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ICWAI Elections 2011

Posted: 03 Jan 2011 08:02 PM PST

ICWAI Elections 2011

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