Manufacturers of beer liable to pay excise duty from the stage of fermentation – SC Posted: 05 Oct 2011 08:46 PM PDT State of U.P. & Ors. Vs. M/s. Mohan Meakin Breweries Ltd. & ANR. (Supreme Court) - The Supreme Court has set aside the ruling of the Allahabad high court and held that manufacturers of beer in the state are liable to pay excise duty from... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Deduction U/s 80D for Mediclaim Premium available to Individual, HUF and Senior Citizens Posted: 05 Oct 2011 08:46 PM PDT For Individual Basic deduction - Mediclaim premium paid for Self, Spouse or dependant children. Maximum deduction Rs 15,000. In case any of the persons specified above is a senior citizen (i.e. 65 years or more as of end of the year up to F.Y.... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| CBEC notifies On-site Post Clearance Audit at the Premises of Importers and Exporters Regulations, 2011 Posted: 05 Oct 2011 07:57 PM PDT Notification No.72/2011-Customs (N.T.), dated- 4th October, 2011. G.S.R.–(E). - In exercise of the powers conferred by clause (d) of section 157, read with clause (ii) of sub-section (2) of section 158, of the Customs Act, 1962 (52 of... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| MCA releases Form No. 23AC-XBRL and Form No. 23ACA-XBRL for reporting in XBRL format Posted: 05 Oct 2011 07:50 PM PDT These rules may be called the Companies (Central Government's) General Rules and Forms (Amendment) Rules, 2011. (2) They shall come into force with effect from 6th October, 2011. 2. In the Companies (Central Government's) General Rules and Forms,... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Companies who need to file B/S and P/L Account in XBRL have to file form 23AC-XBRL and 23ACA-XBRL Posted: 05 Oct 2011 07:40 PM PDT The following class of companies have to file their Balance Sheet, Profit and Loss Account and other documents as required under section 220 of the Companies Act, 1956 with the Registrar using the Extensible Business Reporting Language (XBRL)... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| DTAA- Agreement for Exchange of Information with respect to taxes with British Virgin Islands Posted: 05 Oct 2011 07:24 PM PDT NOTIFICATION NO. 54/2011 Whereas, an Agreement between the Government of the Republic of India and Government of the British Virgin Islands for the exchange of information relating to taxes was signed at London. UK on the 9th day of February, 2011;... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Quartely Result of Listed Companies should disclose figures in respect of immediately preceding quarter and shall be accompanied by limited review report Posted: 05 Oct 2011 07:06 PM PDT (a) Amendments to Clause 41 - Disclosure of quarterly financial results- i) In order to give a better comparative picture of the quarterly financial results, listed entities shall disclose figures in respect of immediately preceding quarter as... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Sebi announces Uniform Know Your Client (KYC) Requirements for the Securities Markets Posted: 05 Oct 2011 06:54 PM PDT Capital market regulator Sebi vide CIRCULAR MIRSD/SE/Cir-21/2011 , Dated- October 5, 2011 announces introduction of uniform forms and documents for the purpose of customer identification by different market intermediaries like stock exchanges... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| RBI relaxes domestic money transfer norms for those who do not have access to formal banking channels for want of proof of identity/address Posted: 05 Oct 2011 06:43 PM PDT At present only banks are permitted to initiate money transfers in the country subject to adherence of KYC/AML guidelines. A large number of people, particularly the migrant population, do not have access to formal banking channels for want of proof... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| IRDA allows Insurance Premiume payment in cash beyond Rs. 50000/- per transaction subject to the customer quoting PAN Posted: 05 Oct 2011 06:34 PM PDT With a view to ensuring that premiums are paid out of clearly identifiable sources of funds, it has been decided to permit premium/proposal deposits remittances in cash beyond Rs. 50000/- per transaction subject to the customer quoting PAN. ... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| India – Switzerland to start exchanging information on tax-related matters from next fiscal Posted: 05 Oct 2011 06:20 PM PDT India and Switzerland will start exchanging information on tax-related matters from the next fiscal after the new tax information exchange treaty is ratified by the Swiss Parliament on Thursday, paving the way for obtaining data on black money... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Serious Fraud Investigation Officers authorized for purposes of filing and conducting prosecution under the Act – NOTIFICATION [F.NO. 5/37/2011 - CL V], DATED 23-09-2011 Posted: 05 Oct 2011 03:44 PM PDT NOTIFICATION [F.NO. 5/37/2011 - CL V], DATED 23-9-2011 -In pursuance of sub-section (1) of section 621 of the Companies Act, 1956 (1 of 1956), the Central Government hereby authorise the following officers in the Serious Fraud Investigation Office,... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| MCA notifies 'Srei Infrastructure Finance Limited' as Public financial institution u/s. 4A of the Companies Act, 1956 Posted: 05 Oct 2011 12:17 PM PDT NOTIFICATION NO. S.O. 2223(E), DATED 26-9-2011 - In exercise of the powers conferred by sub-section (2) of section 4A of the Companies Act, 1956 (1 of l956), the Central Government hereby further to make amendment in the Notification of the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Comments invited on five draft Q&As for the IFRS for SMEs Posted: 05 Oct 2011 11:35 AM PDT The SME Implementation Group (SMEIG) has today published five draft Questions & Answers (Q&As) on the IFRS for SMEs. These draft Q&As are open for comment until 30 November 2011 and cover the following topics: Application of the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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