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Archive: 27 September 2010

Posts in 27 September 2010

Maytas to file review petition with CLB to induct four directors of Saudi Bin Ladin Group

September 27, 2010 372 Views 0 comment Print

Maytas Infra on Thursday said it would file a review petition with the Company Law Board which recently rejected the company’s proposal to induct four directors of Saudi Bin Ladin Group on its board.

Mandatory Electronic payment under MVAT Act, 2002 and CST Act, 1956 for Quarterly Return filers

September 27, 2010 3264 Views 0 comment Print

The scheme of e-payment is now extended to the Quarterly filers. Therefore, every dealer who is liable to file Quarterly return shall make payment of tax, interest, penalty or fees payable under the MVAT Act and CST Act, electronically.

Allowability of money spent on Fan Club by celebrities

September 27, 2010 867 Views 0 comment Print

The dispute over taxing the money spent by actors on their followers came up before the Madras high court that was hearing an appeal by the income tax (I-T) department against a tribunal order that went in favour of Tamil actor Vijayakant. The actor

Satyam auditors been targeted : ICAI President

September 27, 2010 333 Views 0 comment Print

The president the Institute of Chartered Accountants of India, Amarjit Chopra, has called on independent directors to be held to account over their potential involvement in the Satyam scandal — India’s largest corporate fraud. Chopra told Internatio

E-Return filing Compulsory for all dealers whose, taxable turnover exceeds Rs.50 lakhs.GUJARAT VAT

September 27, 2010 1210 Views 0 comment Print

NOTIFICATION Finance Department, Sachivalaya, Gandhinagar. Dated the 24th September, 2010. GUJARAT VALUE ADDED TAX ACT, 2003. No. (GHN-39) VAR-2010(287) / TH – WHEREAS certain draft rules were published as required by sub-section (4) of section 98 of the Gujarat Value Added Tax Act, 2003 (1of 2005) at pages 244-1 to 244-2, in the Gujarat Government Gazette, […]

Govt may soon fix on number of directorships a person can hold

September 27, 2010 516 Views 0 comment Print

There may soon be a ceiling on the number of directorships an individual will be allowed to hold on the board of companies in India. According to recommendations made by the Standing Committee on Finance, a person will no longer be able to act as a director of more than five listed companies and 10 public sector (non-listed) companies.

Expenses in the nature of sales promotion, liaison, infrastructure facilities etc cannot prima facie be termed as out of pocket expenses

September 27, 2010 915 Views 0 comment Print

Assessee has not made out a case for total waiver of pre-deposit and keeping in view the total facts and circumstances of the case, we direct the assessee to deposit an amount of Rs.1,00,000/- (one lakh) within a period of four weeks from today and on such deposit, pre-deposit of the balance amount of Service Tax and penalty shall stand waived and recovery thereof stayed pending the appeal. Failure to comply with this direction shall result in vacation of stay and dismissal of appeal without prior notice.

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