Archive for September, 2010

Where an undertaking existed in the same place, form and substance and did carry on the same business before and after the change in legal character of the form of organization, the taxpayer is eligible for deduction. Full Article

Unless the conduct of the party suggests that it had a mala fide intent, generally as a normal rule, delay should be condoned. An attempt should always be made to allow the matter to be contested on merits, rather than to conclude it merely on the basis of technicalities. Full Article

Union Finance Minister Pranab Mukherjee today launched a new pension scheme for workers in the unorganised sector who do not have access to the social security net. "I launched the scheme today to coincide with the 78th birthday of Prime Minister Man Full Article

Maytas Infra on Thursday said it would file a review petition with the Company Law Board which recently rejected the company's proposal to induct four directors of Saudi Bin Ladin Group on its board. Full Article

The dispute over taxing the money spent by actors on their followers came up before the Madras high court that was hearing an appeal by the income tax (I-T) department against a tribunal order that went in favour of Tamil actor Vijayakant. The actor Full Article

The president the Institute of Chartered Accountants of India, Amarjit Chopra, has called on independent directors to be held to account over their potential involvement in the Satyam scandal -- India’s largest corporate fraud. Chopra told Internatio Full Article

NOTIFICATION Finance Department, Sachivalaya, Gandhinagar. Dated the 24th September, 2010. GUJARAT VALUE ADDED TAX ACT, 2003. No. (GHN-39) VAR-2010(287) / TH – WHEREAS certain draft rules were published as required by sub-section (4) of section 98 of the Gujarat Value Added Tax Act, 2003 (1of 2005) at pages 244-1 to 244-2, in the Gujarat Government Gazette, [...] Full Article

There may soon be a ceiling on the number of directorships an individual will be allowed to hold on the board of companies in India. According to recommendations made by the Standing Committee on Finance, a person will no longer be able to act as a d Full Article