| Government Small Savings Schemes – Salient features including Tax Rebate Posted: 17 Mar 2011 08:44 PM PDT 
Central and State Governments take various measures from time to time to promote and popularize small savings scheme through print and electronic media as well as holding seminars, meetings and providing training to the various agencies involved in... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Difference between 2G and 3G Posted: 17 Mar 2011 08:37 PM PDT 
2G refers to second generation wireless telecommunication technology developed mainly for voice services and slow data services with data rates upto 9.6Kbps whereas, the 3G (3rd generation) mobile telecommunications is the generic name for the next... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Finmin approves 9.5 percent interest on PF deposits for 2010-11 Posted: 17 Mar 2011 07:46 PM PDT 
Finmin approves 9.5% interest on PF deposits for 2010-11 The finance ministry on Thursday approved higher interest rate of 9.5% to over 4.7 crore depositors with the Employees Provident Fund Organisation (EPFO) for 2010-11. The EPFO had been paying... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| SEBI Circular on Listing Agreement for Securitized Debt Instruments Posted: 17 Mar 2011 07:44 PM PDT 
Cir. /IMD/DF/5/2011- March 16, 2011 - The Listing Agreement for securitized debt instruments as set out at Annexure shall come into force with immediate effect for all 'securitised debt instruments, as defined under regulation 2(1 )(s) of the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Govt slashes onion export price to USD 275/tonne Posted: 17 Mar 2011 07:30 PM PDT 
Notification No 34(RE – 2010)/2009-2014,- The government has slashed the minimum export price (MEP) of onion for the third time this month to USD 275 per tonne from the earlier price of USD 350 per tonne. "MEP of onions other than Bangalore Rose... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| IT order to Gujarat on investment MoUs routine – FM Posted: 17 Mar 2011 07:28 PM PDT 
Finance Minister Pranab Mukherjee today dubbed IT order on investment MoUs signed during Vibrant Gujarat Summits as "routine", but admitted it followed complaints by Leader of the Opposition in the State Assembly, seeking to know source of funds.... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| GST Amendment Bill likely to be in Parliament next week Posted: 17 Mar 2011 07:00 PM PDT 
The government is likely to table the Goods and Services Tax (GST) Constitution Amendment Bill before Parliament in the next 4-5 days, said a senior official. "The Cabinet has cleared that proposal (on GST). In another 4-5 days we should be able to... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Cabinet okays PFRDA Bill- may go to Parliament soon Posted: 17 Mar 2011 06:47 PM PDT 
The Union Cabinet today approved a long-pending bill, which is aimed at giving statutory power to the pension regulator PFRDA, paving way for introduction of the same in the current session of Parliament.The draft legislation is aimed at upgrading... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| RBI includes Telecom Towers as an infrastructure facility for availing credit facility Posted: 17 Mar 2011 06:45 PM PDT 
The term "Infrastructure Loan" has been defined in Para 2(viii) of Non-Banking Financial (Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 and Non-Banking Financial (Non - Deposit Accepting or Holding)... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| RBI increases Repo and reverse repo rate by 25 basis points Posted: 17 Mar 2011 06:28 PM PDT 
As announced today in the Mid-Quarter Monetary Policy Review, it has been decided to increase the repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 6.50 per cent to 6.75 per cent and the reverse repo rate by 25 basis... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| No drawback on the goods exported to Nepal which were imported into India from third countries Posted: 17 Mar 2011 06:17 PM PDT 
Circular No. 14 / 2011-Customs- Notification No.13/2011-Customs (N.T.) dated 24.02.2011 which provides that no drawback shall be allowed on the goods exported to Nepal if such goods were imported into India from third countries. To comply with the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| ICAI enhances Fees for Issue of Duplicate Mark Sheets Posted: 17 Mar 2011 06:13 PM PDT 
It is hereby informed that the Council has decided to enhance the fees for issue of duplicate mark sheets ( for various examinations conducted by the Institute of Chartered Accountants of India, including those relating to post qualification... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| ICAI – Procedure for obtaining Duplicate Marks Sheet, Pass Certificate and Transcript Posted: 17 Mar 2011 06:09 PM PDT 
You are required to furnish the following details / documents along with your request- Copy/ies of mark sheet/s for which you require duplicate mark sheet/s (if available), which will help us to process your request speedily. In case, you are not... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Scope of scrutiny assessment in AIR cases under Income Tax Act 1961 Posted: 17 Mar 2011 09:49 AM PDT 
Income Tax Department nowadays selects almost all cases for scrutiny assessment under section 143(2) of Income Tax Act 1961 based upon AIR(Annual Information Return) transactions or through CASS. It is sometimes seen that when a case is selected for... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| 2011 Edition of Guidance Note on Audit of Banks to be released soon Posted: 17 Mar 2011 07:42 AM PDT 
The Auditing and Assurance Standards Board of the ICAI is bringing out the 2011 edition of the Guidance Note on Audit of Banks. The Guidance Note is under print and will reach the Regional Offices/Branches of the ICAI near you by 22nd /23rd March,... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Mid-Quarter Monetary Policy Review- March 2011 Posted: 17 Mar 2011 07:38 AM PDT 
On the basis of the current macroeconomic assessment, it has been decided to: * increase the repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.5 per cent to 6.75 per cent with immediate effect; and increase the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Despite Loan at High Rate of Interest, Share capital Gain can not be treated as Business Profit Posted: 17 Mar 2011 07:35 AM PDT 
Merely because the shares had been purchased from borrowed funds obtained on high rate of interest would not change the nature of the transaction from investment to one in the nature of an "adventure in the nature of trade. [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Service Tax on Foreign Exchange broking services Posted: 17 Mar 2011 07:19 AM PDT 
Foreign Exchange broking services means any service provided or to be provided to any person, by a foreign exchange broker, including an authorised dealer in foreign exchange or an authorised money changer, other than a banking company or a... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Service Tax on Fashion Designer Service Posted: 17 Mar 2011 07:18 AM PDT 
"Fashion Designing" includes any activity relating to conceptualizing, outlining, creating the designs and preparing patterns for costumes, apparels, garments, clothing accessories, jewellery or any other articles intended to be worn by human beings... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Lawyers to Accept fees only by Cheque and in case of Cash have to issue proper receipt Posted: 17 Mar 2011 07:16 AM PDT 
If the Bar Council of India has its way, all advocates in the country will soon have to accept fees only by cheque. And if the payment is to be made in cash, proper receipts must be furnished to the client and a register of the same will be required... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Service Tax on Event management Service Posted: 17 Mar 2011 07:14 AM PDT 
"Event Management" means any service provided in relation to planning, promotion, organizing or presentation of any arts, entertainment, business, sports, [marriage]* or any other event and includes any consultation provided in this regard; [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Service Tax on Erection, commissioning or installation service Posted: 17 Mar 2011 07:04 AM PDT 
Erection, commissioning or installation service means any service provided by a commissioning and installation agency, in relation to,— (i) erection, commissioning or installation of plant, "machinery, equipment or structures, whether... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Service Tax on Dry cleaning services Posted: 17 Mar 2011 06:57 AM PDT 
"Dry Cleaning" includes dry cleaning of apparels, garments or other textile, fur or leather articles; "Taxable Service" means any service provided or to be provided, [to any person], by a dry cleaner in relation to dry cleaning; [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Service Tax on Dredging services Posted: 17 Mar 2011 06:51 AM PDT 
Dredging services - "Dredging" includes removal of material including, silt, sediments, rocks, sand, refuse, debris, plant or animal matter in any excavating, cleaning, deepening, widening or lengthening, either permanently or temporarily, of any... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Service Tax on Development & supply of content for telecommunication, advertising and on-line information services Posted: 17 Mar 2011 06:47 AM PDT 
"Development and supply of content" includes development and supply of mobile value added services, music, movie clips, ring tones, wall paper, mobile games, data, whether or not aggregated, information, news and animation films. [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Service Tax on Forward Contract Service Posted: 17 Mar 2011 05:19 AM PDT 
Forward Contract Service means any service provided or to be provided, to any person, by a member of a recognized association or a registered association, in relation to a forward contract; and the term "service provider" shall be construed... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Service Tax on Franchise Services Posted: 17 Mar 2011 05:15 AM PDT 
Franchise Services means any service provided or to be provided to a franchisee, by the franchisor in relation to franchise; "Franchise" means an agreement by which the franchisee is granted representational right to sell or manufacture goods or to... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| MVAT – Amendment in section 88 and 89 to provide for grant of Identification Certificate to Mega Units covered under the Package Scheme of Incentives Posted: 16 Mar 2011 11:37 PM PDT 
MAHRASHTRA ORDINANCE No.VII OF 2011,- Amendment of section 89 of Mah. IX of 2005. 3. In section 89 of the principal Act,— (i) for the words "Certificate of Entitlement", wherever they occur, the words " Certificate of Entitlement or, as the case... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| MVAT – Govt extends period of limitation for assessments for the period 2008-09 onwards by one year w.e.f 1st April 2005 and deletion of section 21 relating to issuance of notice for assessment Posted: 16 Mar 2011 10:32 PM PDT 
With a view to streamline the provisions relating to assessment of dealers, it is proposed to amend the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), as follows :— (a) to delete section 21 relating to issuance of notice for assessment;... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| SC remands Hasan Ali Khan in four days ED custody Posted: 16 Mar 2011 10:26 PM PDT 
The Supreme Court today remanded Pune stud farm owner Hasan Ali Khan in Enforcement Directorate''s custody for four days, while pulling up the trial court judge who had granted bail to him dismissing the agency''s plea for his remand in a money... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
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