Archive for May, 2010

A leading NRI group on Tuesday asked India to reconsider new rules that require them to surrender their Indian passports within 90 days upon acquisition of US citizenship, arguing these bring "undue and unnecessary" burden on the community. Full Article

In exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government, on the recommendations of the National Committee for Promotion of Social and Economic Welfare, Full Article

The offer documents of companies raising capital shall contain disclosures from directors if they were directors of any company when the shares of the said company were suspended from trading by Stock Exchange(s) for more than 3 months during last 5 years or delisted. Full Article

Since I was a student of law, I was hearing from many legal professionals and the people in the society that it is very difficult to make money in legal profession and survival would be really difficult. I have started my little journey in legal profession without any reference and the legacy. I have seen many and observed many advocates before lower courts, High Court and various other forums. Full Article

The Companies Act, 1956, though it requires some reforms as mooted through Companies Bill, 2009, is one of the finest legislations. Each provision or the section under the Companies Act, 1956 has a sound logic though there exist very few sections which are to be deleted or modified suitably. Full Article

Subject : International accredited agencies for issuance of TAC/ COP for import of vehicles. In the Policy Circular No. 26(RE-2003)/2002-2007 dated 09.02.2004, the entry at S. No. 3 is amended to read as follows : Full Article

This has reference to Para 3.16.4 of the FTP 2009-14 under which Textiles is one of the sectors entitled to Status Holders Incentive Scrip @ 1% of FOB value of exports made during 2009-10 and 2010-11. Full Article

It has been clarified by the Central Board of Direct Taxes (CBDT) that widening of an existing road by constructing additional lanes as a part of a highway project by an undertaking would be regarded as a new infrastructure facility for the purpose of Section 80IA (4)(i) of the Income Tax Act, 1961. Full Article