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Feb 10, 2011

TaxGuru.in : Legal & Tax Updates 10.02.2011

TaxGuru.in : Legal & Tax Updates

Link to LEGAL & FINANCIAL  UPDATES FROM TAX GURU

CA PCC And IPCC November 2010 Exam Toppers

Posted: 10 Feb 2011 01:14 AM PST




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Shashi Kant Sharma Takes Over As Secretary Department Of Financial Services In The Ministry Of Finance

Posted: 10 Feb 2011 01:05 AM PST


Shashi Kant Sharma takes over as Secretary Department of Financial Services in The Ministry of Finance nbsp Shri Shashi Kant Sharma an officer of Indian Administrative Service IAS 1976 Batch of Bihar cadre has taken over th

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Pass Percentage Of Candidates Passed In November 2010 PEE-II PCE IPCE Exams

Posted: 10 Feb 2011 12:13 AM PST


The details of percentage of candidates passed in the above said examinations are given below nbsp nbsp Pass percentage of candidates passed in November 2010 PEE-II exams nbsp EXAMINATION GROUP

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ADAG Stocks Falls Heavily As Audit Firm Complains Against RCom

Posted: 10 Feb 2011 12:07 AM PST


Anil Dhirubhai Ambani Group ADAG stocks on Wednesday plunged after group chairman Anil Ambani reportedly met telecom minister Kapil Sibal in the backdrop of ongoing 2G spectrum scam investigation Jaipur based audit firm Parakh amp

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Govt Relaxes Norms For Filing Accounts Fixing CEO Salary

Posted: 10 Feb 2011 12:03 AM PST


For ensuring ease of doing business the government today announced flexibility for corporates to finalise accounts and exempted unlisted companies having inadequate or no profit from seeking approval for CEO s salary nbsp nbsp

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2G Spectrum Scam- Govt May Finally Agree To Form JPC

Posted: 10 Feb 2011 12:00 AM PST


Signals that Government may agree to formation of a JPC to probe the 2G spectrum scam emerged today after talks between government and the opposition to break the stalemate in Parliament ahead of the Budget Session nbsp Coming out

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ICAI Signs Memorandum Of Understanding With The Canadian Institute Of Chartered Accountants

Posted: 09 Feb 2011 11:55 PM PST


The Institute of Chartered Accountants of India today signed a Memorandum of Understanding with the Canadian Institute of Chartered Accountants for reciprocal membership arrangements nbsp The Memorandum of Understanding was si

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Press Note No 5 2011 Dated 08 02 2011 - General Exemption Under Section 211 08 02 2011

Posted: 09 Feb 2011 11:50 PM PST


Government of India Ministry of Corporate Affairs nbsp Press Note No 5 2011 dated 8 2 2011 nbsp General Exemption under Section 211 nbsp Section 211 of the Companies Act 1956 requires that the balance sheet and profit a

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IT Industry Seeks Extension Of Tax Exemption Under STPI

Posted: 09 Feb 2011 11:43 PM PST


The Indian IT industry has sought extension of tax benefits under STPI and simplification of the tax structure to encourage investments in the sector among others as part of its budget wish-list nbsp The USD 76 billion software in

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Govt Likely To Challenge ITAT Ruling On Bofors Case

Posted: 09 Feb 2011 11:41 PM PST


The government is likely to challenge the Income Tax Appellate Tribunal ruling on Bofors case in the Delhi High Court for its remarks against the Income Tax department nbsp Though government was not a direct party in the case base

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Bombay HC Defers Hearing On Vodafone Plc S Petition

Posted: 09 Feb 2011 11:40 PM PST


The Bombay high court on Tuesday deferred a hearing on Vodafone Plc s petition against the income tax authorities without specifying a new date for next hearing The Bombay high court on Tuesday deferred a hearing on Vodafone Plc

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India Taking Steps To Low Sensitive Lists For Free Trade

Posted: 09 Feb 2011 02:21 AM PST


India today announced that it was taking steps to reduce the sensitive lists of items for free trade as it pitched for early ratification of a SAARC pact in Trade in Services and finalisation of an agreement on Promotion and Prot

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CII For Agriculture Tax Incentives In Budget 2011-12

Posted: 09 Feb 2011 02:20 AM PST


Industry chamber CII today called for the government to provide tax incentives on agricultural activities in the forthcoming Budget to encourage private participation and adoption of new technologies in the sector CII has recommend

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Stop Looking For Sops Mukherjee To Exporters

Posted: 09 Feb 2011 02:18 AM PST


Ahead of the Budget Finance Minister Pranab Mukherjee today said exporters will have to fight their own battle and stop expecting fiscal incentives from the government Government only can play its part Ultimately exporters wi

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Finance Minister Releases Report Of Task Force On Transaction Cost In Exports

Posted: 09 Feb 2011 02:15 AM PST


Finance Minister Releases Report of Task Force on Transaction Cost in Exports nbsp Reduction of Transaction Cost to Impact on Competitiveness of India s Exports to Benefit Smes nbsp The Report of Task Force on Transaction Cost in

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Report Of Task Force On Transaction Cost In Exports Highlights

Posted: 09 Feb 2011 02:14 AM PST


Agriculture i nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp The five major Regional Plant Quarantine St

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CBI Arrests A Sub-Divisional Engineer Of BSNL Accepting Bribery

Posted: 09 Feb 2011 02:03 AM PST


CBI Arrests a Sub-Divisional Engineer of BSNL in a Bribery Case The Central Bureau of Investigation has arrested a Sub Divisional Engineer Bharat Sanchar Nigam Ltd B S N L Harur Distt Dharmapuri Tamil Nadu for demanding an

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Another Scam- Auditor Probes ISRO Deal

Posted: 09 Feb 2011 01:54 AM PST


The Comptroller and Auditor General on Monday said that audit of certain activities of Department of Space DoS were under way but made it clear that media reports on alleged scam in a deal between ISRO and a private firm cannot be

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Press Note 04 02 2011 - Easy Exit Scheme 2011

Posted: 09 Feb 2011 01:49 AM PST


PRESS RELEASE nbsp In order to give an opportunity to the defunct companies for getting their names strike off from the Register of Companies the Ministry had decided to introduce a Scheme namely Easy Exit Scheme 2011

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The IT Strategy For GST

Posted: 09 Feb 2011 01:46 AM PST


The IT Strategy for GST -Empowered Group on IT Infrastructure on GST headed by Shri Nandan Nilekani nbsp Preface -The broad IT plan for enabling GST was presented to the Government of India and the Empowered Committee of State F

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Income Tax Benefits Available Under Various Plans Of Life Insurance Corporation

Posted: 10 Feb 2011 12:59 AM PST


1 Deduction allowable from Income for payment of Life Insurance Premium Sec 80C nbsp a Life Insurance premia paid in order to effect or to keep in force an insurance on the life of the assessee or on the life of the spous

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A Special Post For All Of Those Who Cleared CA IPCC Exam

Posted: 09 Feb 2011 07:31 AM PST


Dear Friends Many many congratulations to all of those who have cleared CA IPCC this time This is a time of great celebration and hope everyone celebrating his grand success in this exam Beyond this there is one more thing which you

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Tax Benefits For Senior Citizens

Posted: 09 Feb 2011 01:42 AM PST


1 The Income Tax Act identifies a senior citizen as a person who is 65 years of age or more at any time during the previous year It provides for special benefits for such persons nbsp 2 As per the IT Act senior citizens who

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Service Tax On Renting Of Immovable Property- SC Requests HC To Hear And Dispose Pending Writ Petitions As Expeditiously As Possible

Posted: 09 Feb 2011 11:38 PM PST


Supreme Court Service Tax on Renting of Immovable Property Requests High Court to hear and dispose of all writ petitions pending before it as expeditiously as possible since same are listed for final hearing on 15-2-2011

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SEZ - Clarification On Rule 47 3 Of SEZ Rules 2006 - Duty For Sale Of Power From SEZ To DTA

Posted: 09 Feb 2011 02:29 AM PST


SEZ Clarification on Rule 47 3 of SEZ Rules 2006 - Duty for sale of power from SEZ to DTA nbsp INSTRUCTION NO 75 DATED 7-2-2011 nbsp The undersigned is directed to refer to the Instruction No 67 issued vide letter of

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SEBI - Request For Interpretive Letter Under The SEBI Informal Guidance Scheme 2003 Regarding Acquisition Of Shares By Promoters Under Regulations 11 1 And 11 2 Of The SEBI Substantial Acquisition Of Shares And Takeovers Regulations 1997 SAST

Posted: 09 Feb 2011 02:26 AM PST


SEBI Request for Interpretive Letter under the SEBI Informal Guidance Scheme 2003 regarding acquisition of shares by promoters under regulations 11 1 and 11 2 of the SEBI Substantial Acquisition of Shares and Takeovers

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SEBI Board Meeting PRESS RELEASE NO 24 2011 DATED 7-2-2011

Posted: 09 Feb 2011 02:23 AM PST


SEBI Board meeting PRESS RELEASE NO 24 2011 DATED 7-2-2011 The Board met today in Mumbai and took the following decisions 1 ASBA facility mandatory for QIBs and NIIs The ASBA facility shall be mandatory for non-reta

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General Circular No - 2 2011 - Dated 08 02 2011 - Direction Under Section 212 8 Of The Companies Act 1956

Posted: 09 Feb 2011 02:10 AM PST


General Circular No 2 2011 - dated 08 02 2011 - Direction under Section 212 8 of the Companies Act 1956General Circular No 2 2011 No 5 12 2007-CL-III Government of India Ministry of Corporate Affairs 5th floor A Wing Shastri

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Scheme Of 1 Percent Interest Subvention On Housing Loans Up To Rs 10 Lakh

Posted: 09 Feb 2011 02:06 AM PST


Scheme of 1 interest subvention on housing loans up to Rs 10 lakh nbsp RBI 2010-11 399 RPCD SME amp NFS BC No nbsp 52 06 11 01 2010-2011 nbsp February 8 2011 nbsp The Chairman Managing Director All Schedul

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Section 4 Of The Special Economic Zones Act 2005 Renaissance Designbuild Private Ltd

Posted: 09 Feb 2011 01:56 AM PST


Section 4 of the Special Economic Zones Act 2005 Renaissance Designbuild Private Ltd nbsp NOTIFICATION NO S O 198 E DATED 31-1-2011 nbsp The Central Government makes the following amendment in the English version no

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