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Jan 19, 2011

TaxGuru.in - Legal & Tax Updates 19.01.2011

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ICAI Comments On SEBI Report On Review Of Ownership And Governance Of Market Infrastructure Institutions MII

Posted: 19 Jan 2011 01:10 AM PST


As you are aware the Securities and Exchange Board of India SEBI constituted a Committee to examine issues arising from the ownership and governance of Market Infrastructure Institutions MIIs under the Chairmanship of Dr Bimal

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ICAI Convocation For The Newly Enrolled Members For The Period From March 2010 To August 2010

Posted: 19 Jan 2011 01:05 AM PST


Convocation II -2010 - 17-01-2011 nbsp The Convocation for the newly enrolled Members for the period from March 2010 to August 2010 will be held as per schedule given below with a view to inculcate a sense of belongingness

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Labour Ministry Sticks To Its Ground On 9 5 Percent Payout On PF

Posted: 19 Jan 2011 12:33 AM PST


The labour ministry has refused to rethink its decision to pay a higher 9 5 interest rate on employees provident fund corpus this year despite objections raised by the finance ministry The decision on interest rate has already be

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Govt Expects Over Rs 300 Crore TDS And Service Tax From IPL-4

Posted: 19 Jan 2011 12:23 AM PST


Government is expected to collect more than Rs 300 crore in taxes from the fourth edition of the Indian Premier League T20 cricket tournament which will begin in April this year nbsp According to sources the taxes would be obtaine

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I-T Dept Busts Rs 150 Crore Ponzy Scheme In West Bengal

Posted: 19 Jan 2011 12:21 AM PST


The Income Tax department here has busted a Rs 150 crore ponzy scheme a fraudulent investment scheme that pays returns to investors through illegal funds which allegedly duped poor investors from villages and small cities of

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Unions Protest Finance Minister S Opposition To 9 5 Percent PF Rate

Posted: 19 Jan 2011 12:19 AM PST


Trade unions are up in arms against the reported refusal of the finance ministry to approve and notify an interest rate of 9 5 per cent on provident fund PF deposits for 2010-11 as decided by the Employees Provident Fund Organisatio

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Balancing Inflation With Growth Tough- RBI

Posted: 19 Jan 2011 12:02 AM PST


It is a challenge for the Reserve Bank to meet demands of economic growth and rein in surging inflationary pressures governor Duvvuri Subbarao said on Monday hinting that it will be a tight-rope walk for the central bank on Janua

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Commerce Textiles Min Differ On Cotton Export Quota

Posted: 19 Jan 2011 12:00 AM PST


The Textiles Ministry has found deficiency in the way allocation of cotton export quota has been given by the Commerce Ministry and suggested that the procedures may be changed nbsp The government has restricted cotton exports to 5

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Govt To Frame Strict Norms For Wealth Management Advisors

Posted: 18 Jan 2011 11:56 PM PST


The government is pooling in its regulatory resources to frame a comprehensive rule-book for wealth management advisors and has sought inputs for the same from RBI Sebi and other financial sector regulators nbsp The move follows a

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BOA Grants Extra Time To 20 SEZ Developers To Execute Projects

Posted: 18 Jan 2011 11:55 PM PST


The government has given more time to 20 SEZ developers including Tata Consultancy Services and Mahindra World City to execute their projects nbsp At a meeting on January 14 the Board of Approval BoA headed by Commerce Secret

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Direct Tax Collection To Exceed Rs 4 3 Lakh Crore Target

Posted: 18 Jan 2011 11:53 PM PST


The government is expecting to exceed the direct tax collection target of Rs 4 30 lakh crore for 2010-11 on the backdrop of high economic growth of 8 9 per cent recorded during the first half of the current fiscal nbsp nbsp Pinnin

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Finance Minister To Meet Regulators For Pre-budget Consultations

Posted: 18 Jan 2011 11:51 PM PST


Finance Minister Pranab Mukherjee is likely to meet Reserve Bank Governor D Subbarao SEBI Chairman C B Bhave and heads of the other regulatory bodies on January 21 as part of the pre-budget consultations Mukherjee sources said w

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India 4th Largest In Asia For Illicit Money Flows China Tops The List

Posted: 18 Jan 2011 11:31 PM PST


India is Asia s fourth largest exporter of illicit capital with an estimated outflow of a whopping USD 104 billion between 2000 and 2008 according to a US-based think tank which ranks China as the number one source of illegal mone

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The 5th Meeting Of The Indo-UK Task Force On Corporate Affairs Held In New Delhi

Posted: 18 Jan 2011 11:23 PM PST


The 5th meeting of the Indo-UK Task Force on Corporate Affairs was held here today It was co-chaired by Shri R Bandyopadhyay Secretary Ministry of Corporate Affairs and Shri Martin Donnelly Permanent Secretary Department of Bu

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FM Holds Pre Budget Consultations With Financial Sector Stakholders

Posted: 18 Jan 2011 10:20 PM PST


Union Finance Minister Shri Pranab Mukherjee held a meeting with Financial Sector stakeholders to get their inputs for General Budget 2011-12 here today This was the sixth meeting in the series of pre-Budget consultations held by

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FAQ On Mutual Funds

Posted: 19 Jan 2011 12:42 AM PST


Introduction -Different investment avenues are available to investors Mutual funds also offer good investment opportunities to the investors Like all investments they also carry certain risks The investors should compare the ris

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Export Of Handicraft And Artware Items Under Drawback Scheme - Circular No 7 2011-Customs

Posted: 19 Jan 2011 12:57 AM PST


Circular No 7 2011-Customs nbsp New Delhi the 18th January 2011 nbsp Subject - Export of handicraft and artware items under Drawback Scheme reg nbsp Sir nbsp nbsp I am directed to invite your attention to t

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Addendum To The Circular No CIR IMD FIIC 1 2011

Posted: 19 Jan 2011 12:51 AM PST


CIRCULAR CIR IMD FIIC 2 201 1 January 18 2011 nbsp To All Foreign Institutional Investors through their designated Custodians of Securities nbsp Dear Sir Madam nbsp Sub Addendum to the Circular No CIR IMD FII

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SEBI - Reporting Of Offshore Derivative Instruments ODIs Participatory Notes PNs Activity

Posted: 19 Jan 2011 12:07 AM PST


SEBI - Reporting of Offshore Derivative Instruments ODIs Participatory Notes PNs activity nbsp CIRCULAR NO IMD FIIC 1 2011 DATED 17-1-2011 nbsp 1 Please refer to SEBI Circular No IMD CUST 8 2003 dated August 8 2003

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DGFT- Non-requirement Of Submission Of Proforma Invoice - Amendment In ANF 2B

Posted: 18 Jan 2011 11:59 AM PST


Public Notice No 24 2009-2014 RE- 2010 The 17th nbsp January 2011 nbsp Subject nbsp nbsp nbsp Non-requirement of submission of Proforma Invoice - Amendment in ANF 2B nbsp In exercise of powers conferred under pa

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Import Of Natural Rubber Under The Tariff Rate Quota TRQ Scheme In The Current Financial Year 2010-2011 Under Para 2 59 Of HBP Vol I 2009-2014

Posted: 18 Jan 2011 11:35 AM PST


Public Notice No 23 2009-2014 RE- 2010 The nbsp nbsp nbsp nbsp nbsp nbsp nbsp 17th January 2011 nbsp Subject nbsp Import of Natural Rubber under the Tariff Rate Quota TRQ Scheme in the current financial year 2010

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Re-Credit Certificate For Re-export Of Defective Unfit Goods And Or Re-assessment Of Debited Duty And Or Re-exports On Account Of Any Other Reason

Posted: 18 Jan 2011 11:29 AM PST


Subject nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp Re-Credit Certificate for Re-export of defective unfit goods and or Re-assessment of Debited Duty and or re-exports on account of any other reason nbsp

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Dgft Clarifications On Issues Pertaining To EPCG Scheme Raised In The Port Officers Meeting Held On 03 12 2010

Posted: 18 Jan 2011 11:13 AM PST


Circular No 12 RE-2010 2009-14 Dated 17 01 2011 nbsp Subject - Clarifications on issues pertaining to EPCG Scheme raised in the Port nbsp nbsp Officers Meeting held nbsp on 03 12 2010 nbsp nbsp nbsp nbsp nb

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UCBs - Accounting Procedure For Investments Settlement Date Accounting

Posted: 18 Jan 2011 11:08 AM PST


UCBs - Accounting Procedure for investments Settlement Date Accounting nbsp RBI 2010-11 373 UBD PCB Cir No 34 09 80 00 2010-11 nbsp January 18 2011 nbsp The Chief Executive Officers of nbsp All Primary Urban

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Centralised Funds Management System CFMS Extension Of Timings

Posted: 18 Jan 2011 11:05 AM PST


Centralised Funds Management System CFMS Extension of timings nbsp RBI 2010-11 372 DPSS CO RTGS No 1654 04 08 002 2010 11 nbsp January 18 2011 nbsp To All CFMS Members nbsp Madam Dear Sir nbsp

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Provision Of 0 25 For Standard Assets Of NBFCs

Posted: 18 Jan 2011 11:00 AM PST


Provision of 0 25 for standard assets of NBFCs nbsp RBI 2010-11 370 DNBS PD CC No 207 03 02 002 2010-11 nbsp January 17 2011 nbsp All NBFCs nbsp Dear Sir nbsp Provision of 0 25 for standard assets of NBFC

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Enforcement Of Penal Provisions For Non-submission Or Delayed Submission Of Returns

Posted: 18 Jan 2011 10:44 AM PST


Departmental Instruction nbsp F No 267 117 2010-CX8 Government of India Ministry of Finance Department of Revenue Central Board of Excise amp Customs nbsp New Delhi dated the 14th January 2011 nbsp

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Applicationsfor The Post Of Chairperson And One Member Of The Competition Commission Of India

Posted: 17 Jan 2011 05:19 PM PST


Applications are invited from Indian Nationals in the format given in Annex I for the post of Chairperson and one Member of the Competition Commission of India

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