The principal notification No. 21/2002- Customs, dated the 1st March, 2002, was published in the Gazette of India, Extraordinary vide number G.S.R. 118 (E), dated the 1st March, 2002 and was last amended vide notification No. 126/2009- Customs, dated the 27th November, 2009, which was published in the Gazette of India, Extraordinary vide number G.S.R. 849(E), dated the 27th November, 2009.
The Securities and Exchange Board of India (SEBI) has asked asset management companies (AMCs) not to compel investors to get no-objection certificates (NoCs) from their existing distributors for shifting their investments.
A brief about Arbitration Mechanism: In order to reduce the delay in courts in the process of traditional adjudication mechanism, the Alternative Disposal Mechanism (ADR) was mooted. The dispute resolution through Conciliation, Arbitration and Mediation etc., is regarded as alternative mechanism to resolve the disputes between or among the parties in a defined legal relationship.
Section 271(1)(c) of the Income-tax Act, 1961 (“the Act”) empowers the Assessing Officer (“AO”) to levy penalty if he is satisfied that the assessee has concealed the particulars of income or furnished inaccurate particulars of income. A new section 271(1B) was introduced by the Finance Act, 2008 with retrospective effect from 1 April 1989, providing that in a case where an addition/disallowance has been made in computing taxable income/loss, a direction given by the AO to initiate penalty proceedings would deem to constitute „ satisfaction? for initiation of penalty proceedings.
A T Kearney Ltd., UK (‘assessee’), a company engaged in the business of providing management consulting services, carried on its business operations in India through its branch office . The assessee deputed highly experienced personnel to train and develop the local expertise to provide services
Cable & Wireless Networks India Private Limited („the applicant?) is engaged in the business of providing international and domestic long distance telecommunication services in India. It proposes to enter into an agreement with its group company, Cable and Wireless UK („C&W UK?) to provide end to end international long distance telecommunication services to its Indian customers.
Deduction under section 80-IB(10) available on a year to year basis for an undertaking engaged in developing and building housing projects showing profit on partial completion method
THE Central Vigilance Commission (CVC) has issued instructions to identify sensitive posts in various Ministries/Departments of the Union Government. The Commission has issued instructions to the organizations under its advisory jurisdiction regarding rotation of officials working in sensitive posts. As per the instructions, the organizations were to identify the sensitive posts and effect rotational transfer on these posts every 2 or 3 years to avoid development of vested interest by the people working on these posts.
Following the Satyam revelations in January 2009, an urgent need was felt to analyze the regulatory provisions that exist. Accordingly, the Council of the Institute of Company secretaries of India constituted a Core Group to look into the issues and to, inter alia, make suitable recommendations for policy and regulatory changes in the legal framework.
Businesses with more than Rs 10 lakh turnover may end up paying the central goods and services tax, with the Centre not agreeing to states’ suggestion of keeping the threshold at Rs 1.5 crore. The empowered committee of state finance ministers had suggested separate thresholds for central GST and state GST, wherein businesses below a […]
