The Delhi State Consumer Commission has expressed its concern over private telecom operators reportedly overcharging customers by including undue charges in the bill, which are not rectified unless the subscribers point them out. The Commission sought the help of the Telecom Regulatory Authority of India (TRAI) to inquire whether “mistakes” in the bill were unintentional or on purpose.
In an arbitration dispute, the intention of the parties as reflected in the agreement should be followed, a division bench of the Delhi high court stated last week while setting aside the order of the single judge bench in a dispute between Prime Industries and Seil Ltd. In this case, the agreement stated that in case of disputes, they shall be referred to a sole arbitrator according to the rules of the Indian Council of Arbitration.
Bank customers can soon withdraw up to Rs one lakh in a single day from ATM machines, and can shop for even an higher amount of Rs 1.25 lakh with their debit cards. Also, as much as Rs three lakh can be transferred in a day to another account through ATMs as also over phone.
This year, claiming a full income tax (I-T) refund could take longer than you expect if the amount mentioned in your return does not match that in the department’s system. Bitten by a Rs 14-crore refund scam in December last year, I-T authorities have ordered that an assessee can only get the refund amount shown in the department’s computer system, and that if the assessee claims more than that, he or she can only get it after filing for rectification and submitting the relevant documents.
Swiss banks have offered to tax the money deposited with them by Indians and other foreigners and “immediately deliver the cash” to governments of respective countries, rather than sharing the details of their clients. Switzerland has come under increasing global pressure to share information about black money stashed in its banks. Possibly as a response, Swiss banks have now offered to tax their foreign clients’ assets but are still wary of sharing details of their customers on grounds of privacy.
THE government on Friday introduced a scheme that will facilitate easy exit for unlisted companies willing to wind up their defunct business. A defunct company is one whose business is lying in a dormant state. The new scheme will give such companies an opportunity to get their names struck off from the Register of Companies(RoC).
Notification No. 65 /2010-Customs, New Delhi, dated the 1st June, 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 amendments in the notification of the Government of India,
Section 197 of the Income-tax Act, 1961 – Deduction of tax at source – Certificate of lower deduction or non-deduction of tax at source – Instructions for issue of certificate u/s 197 mandatorily through ITD system.
