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Oct 6, 2011

Fw: TaxGuru : “Manufacturers of beer liable to pay excise duty from the stage of fermentation – SC” plus 13 more

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...

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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....

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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...

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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,...

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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)...

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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;...

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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...

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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...

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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...

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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. ...

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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...

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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,...

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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...

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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...

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