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Archive: 27 April 2010

Posts in 27 April 2010

Notification No. 31/2010-Income Tax Dated 27/4/2010

April 27, 2010 388 Views 0 comment Print

Notification No. 31/2010-Income Tax It is hereby notified for general information that the organization Baun Foundation Trust (Baun Foundation Medical Research Centre), Mumbai 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, (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962, (said Rules).from Assessment year

Notification No. 30/2010-Income Tax Dated 27/4/2010

April 27, 2010 313 Views 0 comment Print

Notification No. 30/2010-Income Tax It is hereby notified for general information that the: organization Jain Vishva Bharati, Ladnun, Nagaur has been approved by the Central Government for the purpose of clause (iii) 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 2007-2008 onwards in the category

Introduction of derivative contracts on Volatility Index

April 27, 2010 474 Views 0 comment Print

Further to SEBI circular no. SEBI/DNPD/Cir-35/2007 dated January 15, 2008 with regard to introduction of Volatility Index, it has now been decided to permit Stock Exchanges to introduce derivative contracts on Volatility Index, subject to the condition that;

Government released Saral-II for salaried employees for A.Y. 2010-11

April 27, 2010 3376 Views 0 comment Print

The Finance Ministry has come out with ‘Saral-II’, the new income tax returns form, that seeks to make tax filing easy on the assessee and gather information on TDS paid on salary and interest. The Saral-II, a two-page form, was mentioned by Finance Minister Pranab Mukherjee in his Budget speech for 2010-11.

DGFT Public Notice No: 58/2009-2014- Fixation of new SION C 2047

April 27, 2010 597 Views 0 comment Print

In the statement of Standard Input Output Norms (SION) as contained in the Handbook of Procedures (Vol.II), 2009-2014, as amended from time to time, addition of new SION C2047 at appropriate places, as mentioned in ANNEXURE “A” to this Public Notice, are made.

To compute the PE ‘duration test’ under Art. 5 (2) of the DTAA, different project sites can be aggregated only if the test of interconnection and interrelationship is satisfied

April 27, 2010 1428 Views 0 comment Print

Article 5(2)(i) of the India-Mauritius DTAA defines “permanent establishment” to include “a building site or construction or assembly project or supervisory activities in connection therewith, where such site, project or supervisory activity continues for a period of more than nine months“. The assessee, a Mauritius company, executed three contracts in India

Govt may initiate discussion on FDI in multi-brand retail, defence and agriculture

April 27, 2010 496 Views 0 comment Print

India today said it would next month initiate discussion on liberalising Foreign Direct Investment in sectors ranging from defence to agriculture and even retail — a source of political woes for the government in the past. The Department of Industrial Policy and Promotion (DIPP), the nodal agency for framing FDI policies, will come out with six discussion papers in mid-May on overseas investment norms.

MCA only collecting info on IPL teams, not conducting probe

April 27, 2010 396 Views 0 comment Print

The Corporate Affairs Ministry today said it was collecting information on all franchisees of IPL teams and described this as a part of normal practice for any company and was not a probe. “My ministry is merely collecting information that we should have in the normal course of those companies that are franchisee companies,” Corporate Affairs Minister Salman Khurshid told reporters here.

India becomes 7th largest Shareholder in world bank

April 27, 2010 913 Views 0 comment Print

The Development Committee of the World Bank, in its meeting held on 25th April, 2010 at Washington DC, took historic decisions relating to increasing the financial capacity of the Bank and enhancing the role of developing countries in its governance. These decisions would be of great benefit to India – both as a borrower from and as a shareholder of the Bank. Changes in the World Bank’s Voting Structure

Import of sports weapons by ‘Renowned Shooters’ – Policy Circular No. 31 /2009-2014

April 27, 2010 451 Views 0 comment Print

On receipt of application, concerned RA shall send a copy of the application to National Rifle Association of India for their comments. After receipt of comments from the National Rifle Association of India, RA shall issue licence to the applicant. (ii) After issue of licence, RA shall forward a copy of licence to National Rifle Association of India with reference to their written recommendation for information.

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