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Archive: 09 January 2010

Posts in 09 January 2010

Gold insurance coverage

January 9, 2010 498 Views 0 comment Print

If some one plans to go for some robbery then my advice will be not to runaway with cash but to run with a handful of gold. Yes run with a bagful of gold rather than running with currency. Since gold might show $3000 ounce in the next 2-3 years. Shocked and many of my readers might have acclaimed me by now. I am quite lunatic in making such a predictions.

2009 Indian Telecom Industry

January 9, 2010 1888 Views 0 comment Print

What more great performance can be expected from s sector when the world economy as well as Indian economy was making a turn around from the dark worlds of recession? Telecom is the sector I am talking about .This sector has done a fantastic performance in 2009 which makes Indian economy more proud.

Workmen’s Compensation (Amendment) act, 2009

January 9, 2010 9396 Views 20 comments Print

Workmen’s Compensation (Amendment) act, 2009 – amendment in long title, preamble, section 1, 2, 4, 20, schedule II, insertion of section 25a and Substitution of references to certain expressions by certain other expressions

Payment of Gratuity (Amendment) Act, 2009 – Amendment in section 2 and insertion of section 13A, Change in definition of employee

January 9, 2010 40002 Views 126 comments Print

In the Payment of Gratuity Act, 1972 (39 of 1972) (hereinafter referred to as ‘the principal Act’), in section 2, for clause (e), the following clause shall be substituted, namely:—‘(e) “employee” means any person (other than an apprentice) who is employed for wages, whether the terms of such employment are express or implied, in any kind of work, manual or otherwise, in or in connection with the work of a factory, mine, oilfield, plantation, port, railway company, shop or other establishment to which this Act applies, but does not include any such person who holds a post under the Central Government or a State Government and is governed by any other Act or by any rules providing for payment of gratuity;’.

CBDT may allow companies to adjust the FBT paid against the advance tax due in the March quarter

January 9, 2010 928 Views 0 comment Print

The government will allow companies to adjust the fringe benefit tax (FBT) paid by them against the advance tax due in the March quarter, reducing the hazard of claiming a refund and slightly improving profits at a time of rising costs, said an income-tax department official. “The Central Board of Direct Taxes has taken an in-principle decision to allow corporates to adjust FBT paid in the first quarter against their advance tax,” he said.

Information on Assets declared by public servant can be given under Right to Information (RTI) Act

January 9, 2010 6607 Views 0 comment Print

After politicians and judges of the Supreme Court, now the assets of babus have also been prised open to public scrutiny by RTI. In a landmark order, the Central Information Commission (CIC) has said that disclosure of information such as assets of a public servant, routinely collected by the public authority,

Ultimate Victim of Insurance Miss Selling

January 9, 2010 570 Views 0 comment Print

In every company sales mangers are required to appoint insurance advisors. What are these advisors are? In general the advisors are the ones who will sell the insurance products to the clients. That means they are one type of representatives of the company. But is this the end of the story of their identity. Nope they are much beyond than the ordinary word of Advisors.

Switch Your ULIP Equity Funds Now

January 9, 2010 910 Views 0 comment Print

ULIP’s are basically long term investment. But despite being Long Term in nature they are Return Maximizing tool. The return is maximized through the well known option provided itself in the ULIP product SWITCHES. Each Ulip comes with a Switch Option giving opportunity to the policy holder to manage his funds and maximize the Returns over the Long term.

Effective date of transfer of shares for capital gains when agreement to transfer of shares is revocable

January 9, 2010 9983 Views 0 comment Print

Recently ITAT Mumbai in the case of Mrs. Hami Aspi Balsara (Taxpayer) v ACIT. [2009-TIOL-789-ITAT-MUM] held that where a transfer of shares is made conditional upon fulfillment of certain covenants by the parties, the transfer can be regarded as complete only upon the fulfillment of such covenants.

SEBI made it compulsory for credit rating agencies to have internal audits

January 9, 2010 742 Views 0 comment Print

The internal audit to be conducted on a half-yearly basis by chartered accountants, company secretaries or cost accountants, and will cover all aspects of CRA operations and procedures, including investor grievance redressal mechanism, the regulator said in its circular. The report will have to state the methodology adopted, deficiencies observed and consideration of response of the management on the deficiencies. Besides a summary of operations and of the audit, covering the size of operations, number of transactions audited and the number of instances where violations were observed will also have to be stated.

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