Committee set up to strengthen ways to curb black money

Merely because of the fact that the assessee had asserted that it is a developer in the returns filed by him, it cannot be said that there is any failure on the part of the petitioner to disclose fully and truly all material facts Posted: 28 May 2011 09:15 PM PDT Aayojan Developers vs ITO (Ahemdabad High Court) -Merely because of the fact that the assessee had asserted that it is a developer in the returns filed by him, it cannot be said that there is any failure on the part of the petitioner to disclose... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Govt raises ECB limit, eases norms Posted: 28 May 2011 06:58 AM PDT The Government of India has decided to raise the limit for external commercial borrowings to $30 billion from $20 billion before, a senior finance ministry official said on Friday. The government has decided not to raise the foreign institutional... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Finance ministry clear norms for new bank licences, with FDI rider Posted: 28 May 2011 06:53 AM PDT The finance ministry has cleared the Reserve Bank of India's draft guidelines on new bank licences with a rider that the existing 74% cap on foreign direct investment be retained. The central bank, which had proposed capping FDI in new banks at 49%... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Committee set up to strengthen ways to curb black money Posted: 28 May 2011 06:48 AM PDT The Government has constituted a Committee under the Chairmanship of Chairman, Central Board of Direct Taxes (CBDT) to examine ways to strengthen laws to curb the generation of black money in the country, its illegal transfer abroad and its... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Indian Government Accounting Standards (IGAS) 2 – Accounting and Classification of Grants-In-Aid Posted: 27 May 2011 06:01 PM PDT In exercise of the powers conferred by article 150 of the Constitution of India, the President of India, on the advice of the Comptroller and Auditor General of India, hereby makes the following accounting standards, namely, - Indian Government... [[ This is a content summary only. Visit www.taxguru.in for full article ]]