"05 June 2009" Archive

Returns from annuity plans may not be taxed fully

Individuals, who invest their savings in annuity plans offered by insurance firm, could see a drop in their tax burden. Insurance regulator IRDA is in talks with the government to make annuity-plans more tax-efficient. If the proposal is accepted in the coming budget, it will augment returns for retired employees and help insurers market ...

Posted Under: Income Tax |

Chartered Accountants can Create WEBSITE on PD portal of ICAI

Dear Member, We are happy to share with you that ICAI have launched newly revamped Professional Development Portal, www.pdicai.org of the Institute of Chartered Accountants of India. This site has been designed to provide members with all the information that they need to enrich their own practice and provide value added services to t...

Posted Under: Income Tax |

Department need not provide reason for search U/s. 132

Genom Biotech Vs. DIT (Bombay High Court)

Search & seizure action u/s 132 was undertaken at the assessee’s premises. Thereafter an order of provisional attachment u/s 281B was passed. The assessee filed a writ petition challenging the validity of the search and the provisional attachment. HELD dismissing the Petition: (1) Search action u/s 132 can be initiated only if the desi...

Notification No. 108 (RE-2008)/2004-2009, Dated: 05.06.2009

Notification No. 108 (RE-2008)/2004-2009 05/06/2009

In exercise of powers conferred by Section 5, read along with Section 3(2) of the Foreign Trade (Development and Regulation) Act, 1992, also read along with paragraph 2.1 of the Foreign Trade Policy – 2004-09, the Central Government hereby amends Schedule-I of the ITC (HS) Classification of Export and Import Items, 2004-09....

Notification No. 107 (RE-2008)/2004-2009, Dated: 05.06.2009

Notification No. 107 (RE-2008)/2004-2009 05/06/2009

the Central Government also prohibits the import into India from the countries reporting notifiable Avian Influenza (both Highly Pathogenic notifiable Avian Influenza and Low Pathogenic notifiable Avian Influenza), the following live-stock and live-stock products....

SEBI : (Mutual Funds) (Second Amendment) Regulations, 2009

Notification No. LAD- NRO/GN/2009- 10/07/165404 05/06/2009

Provided that such limit shall not be applicable for investments in Government securities, treasury bills and collateralized borrowing and lending obligations....

Public Notice No. 184 (RE-2008)/2004-2009, Dated: 05.06.2009

Public Notice No. 184 (RE-2008)/2004-2009 05/06/2009

For every one percent increase in the oil content beyond 46% in Shea Nut, the permitted quantity for its import may decrease by 150 kgs on pro-rata basis and for every one percent decrease in oil content below 44% in Shea Nut, the permitted quantity for its import may increase by 150 kgs on prorata basis....

Notification No. 58/2009 – Customs, dated 05-06-2009

Notification No. 58/2009-Customs 05/06/2009

The anti-dumping duty imposed under this notification shall be levied with effect from the date of imposition of the provisional anti-dumping duty, that is, 13th March, 2008, and shall be payable in Indian currency...

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