government of india

Over Rs 3 lakh crore in direct taxes, which is more than the annual corporate tax collection, is locked up in litigation at various levels. While Rs 2.2 lakh crore of revenue was locked up in appeal cases with Commissioner of Income Tax (Appeals) in 2009-10, the amount involved in litigation at the higher levels was Rs 91,087 crore, said the latest CAG report. Full Article

There is a need to focus on single window clearance for speeding up the progress of Special Economic Zones, according to Mr D.K. Mittal, Additional Secretary, Department of Commerce, Government of India. Addressing the participants in an open house Full Article

Company Names starting with September 2010 October 2010 November 2010 Alphabets A to D All days during the month 1st Oct to 05 Oct 2010 1st Nov to 05 Nov 2010 Alphabets E to K -do- 6th Oct to 10th Oct 2010 6th Nov to 10th Nov 2010 Alphabets L to Q -d Full Article

Calling it the biggest litigant in the entire Government, Finance Minister Pranab Mukherjee has asked the Income Tax Department to reexamine the way it handles tax disputes. He said, the Department is filing appeals in a routine manner without careful thought and examination leading to the Income Tax Department earning the dubious distinction of being the biggest litigant in the Government of India. Full Article

In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), Central Board of Direct Taxes number S.O. 2292(E), dated the 9th September, 2009, namely:- Full Article

Notification No. 66 / 2010 - Customs (N. T.) In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Cus (N. T.), dated, the 3rd August 2001, Full Article

Effective July 1, 2010, the Government of India has levied a Service Tax that will be applicable on domestic air travel. Kindly note, the applicable Service Tax will be INR 103 per passenger, per sector inclusive of cess. Full Article

Clean Energy Cess Notification No. 05/2010- Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts all goods produced or extracted as per traditional and customary rights enjoyed by local tribals in the State of Meghalaya without any license or lease required under any law for the time being in force, from the clean energy cess leviable under section 83 of the said Finance Act. Full Article