The government’s decision to enforce a minimum 25% public holding in all listed companies should be put on hold for another three months, said Hari S Bhartia, president of Confederation of Indian Industry (CII). He said there are a lot of grey areas that need to be cleared first.
The Bombay High Court today adjourned to July 8, the hearing on an appeal filed by Vodafone International in a dispute over tax liability. The court also stayed the ruling passed by the I-T department on May 31. The dispute is over the tax liability of Vodafone after it acquired Hutchison International’s stake in Hutchison- Essar in a USD 11.1-billion deal in 2007.
The corporate affairs ministry will initiate talks with the commerce ministry and RBI to allow global audit firms like KPMG, Deloitte, Ernst & Young and PriceWaterhouseCoopers to open shops in the country. “This matter is not for us alone (to decide), it is a matter which involves the RBI as also the commerce ministry
In the spirit of truce arrived at with his elder brother, Anil Ambani on Tuesday dropped a Rs 10,000 crore (Rs 100-billion) defamation suit against Mukesh Ambani in the Bombay high court. “Yes, we have withdrawn the suit claiming Rs 10,000 crore as damages”, a Anil Dhirubhai Ambani Group spokesman told PTI.
The changes in the Securities Contracts (Regulation) Rules will not only create a huge supply of fresh papers in the current fiscal but will also impact the pricing of the large public issues such as Coal India and BSNL. The amendments will also bring the Indian promoters of insurance joint ventures legally at par with their foreign counterpart,
The Institute’s attention was drawn to certain news reports giving the impression that the Institute has mooted a proposal to open doors for MNC audit firms to operate in India.Consequent upon the Satyam scandal coming to light, the Council of ICAI had constituted a High Powered Committee to look into the matter.
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, amendments/corrections are made against SION entry at A-1667 as mentioned in ANNEXURE “A” to this Public Notice.
In exercise of the powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-14 and Paragraph 1.1 of the Handbook of Procedures (Vol.1), the Director General of Foreign Trade hereby makes the following amendments in the Handbook of Procedures, Vol.I, 2009-2014, as amended from time to time.
Recently the Apex Court has rendered two very significant judgements in relation of the write-off of bad debt in the books of account of an assessee for the purpose of deduction thereof, under the provisions of section 36(1)(vii) of the Income-Tax Act, 1961 (the Act), r.w.s.36(2) of the Act. The aforesaid judgements are as follows : (i) T.R.F. Ltd. Vs. CIT [2010] 323 ITR 397 (SC), and
THE FM is going to inaugurate the 26th Annual Conference of Chief Commissioners and Directors General of Income Tax, here tomorrow i.e, 9th June, 2010. The Minister of State for Finance (Revenue), Shri S. S. Palanimanickam, will deliver the valedictory address on 10th June in the two-day conference.
