News on Tax, Corporate Law, Recent Judgement, Govt Policy

As per unconfirmed new received by us from our sources RBI has increased Audit fees for statutory Audit of Branches of Public Sector Banks for the financial year 2011-12. RBI has further increased time line to complete the audit to 21 April at branch level. Full Article

The Ministry of Railways has revised passenger fares with effect from tomorrow i.e. 1st April 2012 in AC-First Class, AC-2 tier, Executive Class and First Class only. There is no revision in other classes of travel. The revised fares in these classes would be applicable to all types of trains on Indian Railways network. Full Article

For the convenience of taxpayers, the Reserve Bank of India has made special arrangements at Mumbai and Navi Mumbai offices to receive taxes beyond normal working hours on March 30, 2012 and March 31, 2012 as follows: Full Article

Finance Minister Pranab Mukherjee today said that persons investing in stock markets through participatory notes, P-Notes, will not have to pay taxes in India. The assurance pushed up the stock market today. He told reporters in New Delhi that the Minister said, the income tax department would examine the tax liability of the FIIs. Full Article

Today there is a strong possibility that you won't be able to indulge in your favourite internet activities like shopping and surfing due to a hacking group - Anonymous - which has threatened to shut down the net. Full Article

On a review of the conditions in the global financial markets, it has been decided to continue with the enhanced all-in-cost ceiling for ECB and trade credit for a further period of six months as under: Full Article

The new Google Privacy Policy provides information to the end users as to how their personal information is collected, for which it is collected, processed and secure. The end users, however, need to fully understand the privacy policy of Google, the consequences of sharing their personal information and their privacy rights before they start using online services. Full Article

Reserve Bank of India (RBI) has decided to permit non-bank entities to setup, own and operate ATMs. The draft guidelines on deployment of White Label ATMs were placed on RBI website for public comments till March 6, 2012. Full Article