Where a forward contract is entered into by the assessee to sell the foreign currency at an agreed price at a future date falling beyond the last date of accounting period, the loss is incurred to the assessee on account of evaluation of the contract on the last date of the accounting period i.e. before the date of maturity of the forward contract
Once section 249(4)(a) is treated as a mandatory condition for filing an appeal before CIT (Appeals) and once that condition stood satisfied at the time of his filing an appeal to CIT (Appeals), then, there was no necessity for the assessee to once again pay the admitted tax due as a condition precedent to his filing the appeal before the Appellate Tribunal under section 253(1)(b).
Securities and Exchange Board of India Request for Informal Guidance under Securities and Exchange Board of India (Informal Guidance) Scheme, 2003 {The Scheme} in the matter of M/s. Ramkrishna Forgings Limited (Target Company) Letter No. CFD/DCR/SKM/TO/18378/2010 dated 2-9-2010 This has reference to your letter dated April 6, 2010 requesting for interpretive letter under Securities and […]
Circular No. IRDA/IT/ORD/MIS/152/09/2010, dated 3-9-2010 The Authority is in the process of developing the new Integrated Grievance Management System (IGMS) which will not only facilitate the policyholder to register/track their complaint online with insurance companies but also facilitate IRDA for monitoring the grievance redressal procedure established in the insurance industry. The system involves mirroring of […]
A unique identification number , or Aadhaar, may soon be enough for a person to get a new mobile connection or to open a bank account. The Unique Identification Authority of India (UIDAI), the apex agency managing the UID project, which aims to give
One of the main reasons for poor growth is apparently the slow processing of returns, especially in the initial quarters. Chief Commissioner of Income Tax, Mumbai circle, P P Srivastava, had in a meeting held with senior officials on August 5, pointe
Union Finance Minister Shri Pranab Mukherjee has asked all the banks to over perform to achieve their targets so that by 2011, all habitations of 2000 population and above get the facility of a bank and related financial services. Earlier this target
It may kindly be recalled that while communicating the clean energy cess notifications, it has been stated that the office of Chief Controller of Accounts has already been requested to assign a minor head for the payment of this cess both on domestic and imported coal & relevant communication conveying this to the field formations would be issued in due course. In this regard, the Office of the Principle Chief Controller of Accounts has informed that pending opening of new Head of Account,
The Standing Committee of Parliament, which thoroughly examined The Companies Bill, 2009, has observed that as the institution of Independent Directors is a critical instrument for ensuring good corporate governance, it is necessary that the function
New Delhi, the 8th September, 2010 Notification No. 07/2010-Clean Energy Cess G.S.R. (E).- In exercise of the powers conferred by section 84 of the Finance Act, 2010 (14 of 2010), the Central Government hereby makes the following rules to amend the Clean Energy Cess Rules, 2010, namely:- 1. (1) These rules may be called the Clean […]
