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Archive: 22 April 2010

Posts in 22 April 2010

Notification No. 26/2010-Income Tax Dated 22/4/2010

April 22, 2010 490 Views 0 comment Print

Notification No. 26/2010-Income Tax It is hereby notified for general information that the organization M.P Birla Instiute of Fundamental Research, Kolkata has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with rules 5C and 5E of the Income-tax Rules, 1962 (said Rules) from Assessment year 2009-2010 onwards in the category of ‘other Institution’ partly engaged in research activities subject to the following conditions, namely :-

RBI guideline on Issue and Pricing of Shares by Private Sector Banks

April 22, 2010 540 Views 0 comment Print

(i) All banks should obtain RBI approval for IPOs. After listing on the stock exchanges, banks are free to price their subsequent issues. (ii) Issue price should be based on merchant banker’s recommendation. There need be no reference to the CCI formula for deciding on the pricing of such issues.

Mayawati accused Centre of harbouring caste bias against her in matters relating to disproportionate asset cases

April 22, 2010 273 Views 0 comment Print

UP chief minister and BSP chief Mayawati on Wednesday accused the Centre and CBI of harbouring a caste bais against her and sought parity in treatment with RJD head Lalu Prasad and SP supremo Mulayam Singh Yadav in matters relating to disproportionate asset cases.

Goldman Sachs Director Gupta Dines with American president, Deals With Rajaratnam

April 22, 2010 660 Views 0 comment Print

Goldman Sachs Group Inc.’s November 2006 announcement of Rajat Kumar Gupta’s election to its board brimmed with the India native’s achievements: worldwide managing director of McKinsey & Co.; special adviser to the Secretary- General of the United Nations on management reform, co-chairman of the American India Foundation charity, whose honorary chair is former President Bill Clinton.

SEBI directed FIIs to disclose more information about their investment structure in India

April 22, 2010 270 Views 0 comment Print

SEBI has directed foreign institutional investors to disclose more information about their investment structure in India.”It is not about FIIs investment, it is about what structures FIIs have for their investments in India,” SEBI Chairman, C B Bhave, told reporters on the sidelines of a FICCI-organised capital markets conference here on Tuesday.

ROC to collect details relating to the IPL franchises and the bidding process

April 22, 2010 339 Views 0 comment Print

With the Indian Premier League (IPL) saga getting murkier, the Ministry of Corporate Affairs on Tuesday asked the Registrar of Companies (RoC) to collect all details relating to the IPL franchises and the bidding process. In its order, the Ministry asked the RoC to get information on the memorandum of association and on franchise agreement. The RoC has been asked to submit its report within a week.

NGOs getting Government aid are Public Authority and covered under RTI Act, 2005: Delhi high court

April 22, 2010 2123 Views 0 comment Print

The Delhi high court has held that non-governmental organizations (NGOs) which get government funds should come under the purview of RTI Act making it mandatory for them to disclose information pertaining to their functioning. The term public authority has been given a broad meaning not only to include bodies which are owned, controlled or substantially financed directly or indirectly by the government but even NGOs, which are financed directly or indirectly by the government, justice Sanjeev Khanna said while declaring the stock exchanges as public authorities in a recent order.

Income Tax department declared result of Departmental Examination for Income-Tax Officers (ITO) 2009

April 22, 2010 7313 Views 0 comment Print

The Directorate of Income-tax (IT) has declared the result of ITO Examination 2009 for the old as well as new pattern. The certified copy shall be made available by the concerned CCIT/CIT(Incharge of Examination) only. As per the present grace policy, maximum 7 grace marks in aggregate are allowed in one or more subjects to fully pass the Examination.

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