"14 May 2010" Archive

Custom duty Notification No 64/2010- Amending Notification No. 96/2008-Customs, dated the 13th August, 2008

Notification No. 64/2010-Customs (14/05/2010)

Notification No. 64/2010-Customs, New Delhi, dated the 14th May, 2010. G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in th...

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Government may scale down the Income Tax Slabs in Final Direct Tax code

People with more than Rs 10 lakh annual income may not get the tax relief originally proposed in the Direct Taxes Code, as the Finance Ministry is for tweaking slabs across the board to offset concessions elsewhere....

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Posted Under: Custom Duty |

MCX signed up with ICSI and ICWAI to jointly promote the cause of financial literacy and corporate governance

The Exchange has joined hands with several agencies like the government, trade bodies and educational institutions to drive financial literacy for financial inclusion and encourage incorporation of global best practices in the industry. ...

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Notification on New Income Tax return forms (ITR) for Assessment year 2010-11

Notification No. 33/2010-Income Tax (11/05/2010)

Notification No. 33/2010-Income Tax S.O. 1056(E).- In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income tax Rules, 1962, namely:-...

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Notification No. 37/2010 – Customs (N. T.)- Amends Notification No. 36/2001 – Customs (N.T.), dated, the 3rd August, 2001

Notification No.63/2010-Customs (14/05/2010)

In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Cus ...

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What Audit Firm thinks on ICAI’s proposed ban on firms for auditor negligence?

It has the powers to suspend an auditor, but now ICAI, the Institute of Chartered Accountants of India wants the power to suspend entire firms. This proposal is part of ICAI’s recommendations for better regulation of the audit profession....

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No service tax on commission received by Insurance companies from reinsurance companies

Circular No. 120(a)/2/2010-ST (16/04/2010)

In a relief to insurance companies, the finance ministry has revoked its demand asking insurers to pay service tax on commission they receive from reinsurance companies. The Central Board of Excise and Customs (CBEC) has clarified that service tax cannot be levied on the reinsurance commission because an insurance company does not provide...

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10 steps to Register a Company in India

The steps of registering a company in India are as under: Step 1 – Acquire director identification number (DIN) by filling Form DIN-1. The temporary DIN is immediately issued which must then be printed, signed and sent to RoC for its consent along with the identity and address proofs....

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Posted Under: Custom Duty |

Government planning bill to ensure 25 percent representation of workers on the board of directors

The United Progressive Alliance government has initiated a move to revive a 20-year-old controversial bill which seeks to give representation to workers on company boards. As a first step, Union Labour Secretary Prabhat Chaturvedi met human resource directors and other senior officials of 12 ‘Navratna’ PSUs in Delhi ....

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Posted Under: Custom Duty |

Notification No. 39 / 2010 – Customs (N.T.)- Appoints Common Adjudicating Authority in the case of Shri Sachin Dhanraj Jain

Notification No. 39/2010–Customs (N.T.) (14/05/2010)

Notification No. 39/2010 – Customs (N.T.) the words, brackets, letters, and figures “ for the purpose of adjudicating the matters relating to Show Cause Notices pertaining to Shri Sachin Dhanraj Jain (Proprietor), M/s. Shree Vikran Overseas, 3, Govind Building, Opposite Heritage Hotel, Aary Road, Goregaon (East), Mumbai – 400063 a...

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