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In such cases, if the EOUs/BTPs wish to claim Chapter 3 scheme benefits on exports made on or after 1.4.2007, then they will have to forego the direct tax exemption status and modify their direct tax exemption permanently and produce evidence to this effect from the jurisdictional Income Tax Authorities that they would not be claiming direct tax exemption henceforth. The change would be eligible from the date this exemption period is over. This shall apply for exports made from 1.4.2007 onwards and not earlier. EOUs/BTPs will submit the evidence of change of exemption status from jurisdictional Income Tax Authorities to RA concerned.
.It is observed from the information provided by the depositories that the companies listed in Annexure ‘A’ have established connectivity with both the depositories during the month of November 2008.
Limited Liability Partnership Bill has received the accent of Honourable President of India and has now become a legislation and is to be called as ‘Limited Liability Partnership Act, 2008′ Click here to download the Limited Liability partnership Act,2009 : http://mca.gov. in/MinistryWebsi te/dca/actsbills /pdf/LLP_ Act_2008_ 15jan2009. pdf Comparison between traditional partnership and LLP Traditional Partnership […]
JPMorgan and Goldman Sachs are among the banks shortlisted to advise the new board of Satyam Computer Services as it tries to save the fraud-stricken Indian outsourcing firm, three banking sources said on Wednesday. The new six-member board appointed by the government to contain the fallout of country’s largest corporate scandal will consider appointing an […]
HYDERABAD: Dodgy Ramalinga Raju is proving to be a hard nut to crack even for the seasoned interrogators of the Crime Investigation Department (CID) questioning him, his brother Rama Raju and former CFO Vadlamani Srinivas in the multi-crore scam. On the second day of police custody, Raju proved to be a tough cookie either bluntly […]
NEW DELHI: Troubled software exporter Satyam on Tuesday said it has been approached for takeover by domestic and foreign companies, the IT company’s board member Tarun Das said on Tuesday.
Concerned over the increasing instances of financial wrongdoings by corporate, the government on Sunday said those who are guilty would not be let off just by payment of some fine. “We are making stiff provisions under the new Companies Bill, 2008. The number of crimes for which provisions of compounding are available under the present […]
The RoC’s findings which it said will be made final after all documents are made available suggest that in approving the acquisition of 100 per cent in Maytas Properties and 51 per cent in Maytas Infrastructure, Satyam’s board had violated Section 372A of the Companies Act. Sub-section 1 of Section 372A stipulates that no company […]
Today, the fraud at Satyam Computer Services is one of the hottest topics around. There are so many questions relating to various taxation issues that are constantly cropping up. One of the common questions going through everyone’s mind is: Can Satyam claim a refund of taxes already paid on its inflated income for all the earlier years?
The Reserve Bank of India, or RBI, has prohibited the statutory auditors of a bank from carrying out any consultancy work for the bank to avoid a possible conflict of interest.
