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The government is through with the consultation process on the proposed direct taxes code and the contours of the new tax structure could be finalised soon, a top government official said on Wednesday. The process of consultation is almost complete," finance secretary Ashok Chawala told reporters on the sidelines of a Federation of Indian Chambers of Commerce and Industry seminar in New Delhi. Full Article

A Patent confers the exclusive right on the Patentee to make, distribute or sell the invention in India. This exclusive right is for 20 years. After 20 years, that invention becomes a public Domain. An infringement would be when any of three rights is violated. A Patentee may assign/ license all or some of these rights. The exercise of the rights so transferred in favors of the assignee or the licensee by the assignor or the licensor would not amount to infringement of .. Full Article

Industry body Assocham today asked the government to raise the tax exemption limit on personal income from Rs 1.6 lakh per annum to Rs 4 lakh per annum and for senior citizens up to Rs 5 lakh per annum. The industry body was giving its proposals on the draft direct taxes code which has been put in public domain by the government for comments. Full Article

Tax defaulters beware. The income tax department is considering publishing the names of habitual tax defaulters with large tax demands pending. According to official sources, the department is planning to compile a list of all cases, where there is a tax demand of over Rs 1 crore with no pending appeals. Full Article

DIRECT TAX CODE BILL, 2009 was unveiled by our Hon. Finance Minister on 12th August 2009 and has been placed in the public domain for an analytical study and critical review of all its clauses. It seeks to consolidate and amend all the Laws relating to the Direct Taxes. Full Article

Securities and Exchange Board of India (SEBI) which recognises and regulates Stock Exchanges, has decided to facilitate the setting up of separate stock exchanges or a platform in the existing stock exchanges dedicated to the Small and Medium Enterprises (SMEs). The objective is to make available equity capital at lower cost for small and medium [...] Full Article

The Delhi High Court has held that the media cannot be restrained from reporting confidential information of a company pertaining to its up coming projects and dealings with other companies. “In the case of a corporate entity, unless the news presented is of such a sensitive nature that its business or very existence is threatened [...] Full Article