| Tax collection exceeds revised target for 2010-11- Finance ministry Posted: 06 Apr 2011 08:51 PM PDT The government today said the total tax collections-both direct and indirect-for 2010-11 have exceeded even the revised estimate on the back of strong economic activities. "I am reasonably sure that we will cross Rs 4.50 lakh crore in direct... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Hasan Ali's CA claims threat, seeks police protection Posted: 06 Apr 2011 08:46 PM PDT Sunil Shinde, Pune Stud farm owner Hasan Ali's charted accountant, today claimed to have received a threat letter asking him to name some political leaders and a 2G spectrum scam accused in connection with the money laundering case against Ali. "I... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Certificate issued U/s./ 195(2) was not withdrawn so assessee was not required to deduct TDS and could not be treated as assessee in default Posted: 06 Apr 2011 08:43 PM PDT CIT vs. Swaraj Mazda Ltd (P&H High Court)- Learned counsel for the revenue has not been able to dispute the fact that there is no challenge to the finding that certificate issued to the assessee under Section 195(2) was never cancelled and in... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| RBI cautions public against fraud mails Posted: 06 Apr 2011 06:44 PM PDT The Reserve Bank of India (RBI) today cautioned public against any mail asking for bank account details of individuals in its name. "The Reserve Bank never asks for your bank account details. The RBI has clarified that it has not sent any such... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Income-tax – Explanatory Notes to the provisions of the Finance Act, 2010- Applicable for Assessment Year 2011-12 Posted: 06 Apr 2011 06:32 PM PDT This Notification is containing summary of Income Tax Amendment made by Budget 2010 which are applicable for Assessment Year 2011-12 and Financial Year 2010-11. Topis which are covered are as follows:- 1. Rates of income-tax in respect of incomes... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Linking Entrepreneurship with Credit- The Role of Financial System Posted: 06 Apr 2011 06:28 PM PDT There are three types of employment. There are jobs with no work where one gets a salary without working. There are jobs where one can work for certain hours and get paid accordingly, and there are jobs where one can create and fulfil one's dreams,... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Sustainability of Economic Growth and Controlling Inflation- The Way Forward Posted: 06 Apr 2011 06:18 PM PDT It is my pleasure to speak at FICCI's National Executive Committee Meeting this year. As many observers have been highlighting, after a relatively long phase of benign, growth-friendly macroeconomic conditions, things have begun to look somewhat... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Gold and Silver rates as on April 1, 2011 (Mumbai) Posted: 06 Apr 2011 05:59 PM PDT Gold and Silver rates as on April 1, 2011 (Mumbai) : Standard Gold Rs. 20,775; Pure Gold Rs. 20,875; Silver Spot Rs. 56,900 [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| OBC launches Income Tax payment facility through ATMs Posted: 06 Apr 2011 05:52 PM PDT State-owned Oriental Bank of Commerce (OBC) today launched the Income Tax payment facility through ATMs for their customers. The process of income tax payment through ATMs is user friendly and would lead to higher compliance by spreading the tax... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| India Inc demands review of RBI's rate tightening policy Posted: 06 Apr 2011 05:50 PM PDT Leading India Inc representatives today made a strong plea to the Reserve Bank to review its rate tightening policy, saying the high cost of credit is having an adverse impact on growth. Quoting a recent study, industry body FICCI's Vice-President... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Anil Ambani quizzed on stakes in Swan Telecom by PAC Posted: 06 Apr 2011 05:45 PM PDT Reliance ADAG Chairman Anil Ambani today faced a Parliamentary committee which quizzed him on his company's stakes in Swan Telecom and other aspects related to the 2G spectrum allocation to which he responded 'freely' but evaded replies on some... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Govt to revamp economic intelligence agency Posted: 06 Apr 2011 05:44 PM PDT Amid increasing cases of tax evasion, frauds and corruption, Indian government on Tuesday announced it would revamp its nodal economic intelligence agency. President Pratibha Patil has sanctioned the constitution of a committee that will make... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Creation of National Clean Energy Fund Posted: 06 Apr 2011 05:42 PM PDT The Finance Bill 2010-11 provided for creation of a corpus called National Clean Energy Fund to invest in entrepreneurial ventures and research in the field of clean energy technologies. Subsequent to the budget announcement, the Central Board of... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| O.E.C.D. Lifts Global Growth Forecasts Posted: 06 Apr 2011 05:41 PM PDT PARIS — The global recovery is taking root, despite the recent earthquake in Japan, helped primarily by better conditions for companies and improving labor markets, an international economic organization said Tuesday as it bumped up its growth... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| SC orders status quo on Rs 617 crore tax demand from Satyam Posted: 06 Apr 2011 05:38 PM PDT The Supreme Court today ordered the Central Board of Direct Taxes (CBDT) to maintain status quo on its demand for Rs 617 crore income tax from Satyam Computer, while asking for a list of the actual liabilities of the scam-h IT information technology... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Campus Placement for fresher members at NIRC – 9th April 2011 Posted: 06 Apr 2011 05:30 PM PDT The Placement Cell of the ICSI is organizing a Campus Placement for the fresher Company Secretaries on Saturday, the 9th April, 2011 at NOIDA office of ICSI, C-37,Sector 62, NOIDA-201301. Members admitted on or after 1st December 2010 are eligible... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| CWG Scam – CBI registers fresh case; searches 20 locations Posted: 06 Apr 2011 05:24 PM PDT The CBI today registered the ninth case in its probe of alleged corruption during Commonwealth Games naming seven senior engineers of CPWD and DDA for allegedly inflating cost of laying of synthetic turf as it carried out searches at 20 locations... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Govt. opposes Lalit's appointment as prosecutor in 2G case Posted: 06 Apr 2011 04:49 PM PDT The Union Government on Tuesday objected in the Supreme Court to the CBI's decision to appoint senior advocate U. U. Lalit as special public prosecutor for the trial of former Telecom Minister A. Raja and other accused in the 2G spectrum allocation... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| We cannot find replacement for Ratan Tata – Search panel Posted: 06 Apr 2011 04:47 PM PDT Eight months after it was set up to find a successor to Tata Sons chairman Ratan Tata, the search panel has concluded that it cannot find a "replacement" for the group chief. "Our committee has come to the conclusion that we cannot find a... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Guidelines on Distance Marketing of Insurance Products Posted: 06 Apr 2011 08:44 AM PDT Distance Marketing by Brokers- (i) Insurance brokers shall not exclusively promote the products of any particular insurer, and shall suggest the best available product in the market that fits the needs of the client. (ii) The price... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Taxation of Services – Major Relief Posted: 06 Apr 2011 08:37 AM PDT Levy of service tax on railway freight which was supposed to be effective from April 1 has been deferred once again by three more months to July 1, 2011- thanks to our Railways Minister. The historic amendment in levy of service tax by moving from... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Satyam Computer reaches settlement with SEC Posted: 06 Apr 2011 05:51 AM PDT Shares of Satyam Computer Services, now Mahindra Satyam, jumped by over 9 per cent in early trade on the BSE today after the company reached a settlement with the US Securities Exchange Commission, which concludes the SEC's investigation of... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Creation of post of Income Tax Ombudsman Posted: 06 Apr 2011 01:57 AM PDT The post of Income 'Tax Ombudsman is in the HAG Pay Scale of Rs. 75500-80000/-. Therefore, it is requested that names of suitable officers fulfilling the eligibility criteria mentioned in the Income Tax Ombudsman Guidelines, 2010 (copy enclosed)... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Amends Notification No. 12/97-Customs (N.T.), dated the 2nd April, 1997 vide Notification No. 28/ 2011 – Customs (N.T.) Posted: 06 Apr 2011 01:49 AM PDT Notification No. 28/ 2011 - Customs (N.T.), New Delhi, dated the 6th April, 2011- Central Board of Excise and Customs, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Indian Accounting Firm Fined $7.5 Million Over Fraud at Satyam Posted: 06 Apr 2011 01:15 AM PDT The Indian affiliate of PricewaterhouseCoopers routinely failed to follow the most basic audit procedures, the United States Securities and Exchange Commission said Tuesday as it penalized the firm for its failed audits of Satyam Computer Services,... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| New immigration rules to hit Indian professionals in UK Posted: 06 Apr 2011 01:12 AM PDT Several Indian professionals will be adversely affected by Britain's new immigration rules that come into effect tomorrow as part of the David Cameron government's efforts to reduce migration from non-European Union countries. The new immigration... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Misuse of Duty Free Credit Entitlement Certificate Scheme by M/s. V.K. Udyog Ltd. Posted: 05 Apr 2011 10:00 PM PDT Intelligence suggested that M/s. V.K.Udyog Ltd. has imported LDPE/HDPE granules and PP granules without payment of duty under Duty Free Credit Entitlement Certificate and availing exemption under Notification No. 53/2003-Cus dated 01.04.2003 during... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Seizure of 6110 Kgs. Of Red Sanders Wood Having Total Seizure Value Rs. 69.94 Lakh Posted: 05 Apr 2011 09:36 PM PDT Acting on a specific intelligence, the DRI officers of Siliguri under Kolkata Zonal Unit had effected a seizure of Red sanders wood weighing 6110 kg. valued at Rs. 61.10 lakhs from a truck bearing registration no. HR-55F-4435 on 03.04.2011 at... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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