Indirect tax collections from Customs, Central Excise and Service Tax at all India level has increased more than 45% during April-August, 2010 compared to its corresponding period, i.e. April- August, 2009. Total Revenue Collections were Rs. 124170
Union Finance Minister Sh. Pranab Mukherjee said that Central Government is committed to give our Public Sector Enterprises (PSEs/PSUs) the necessary flexibility and autonomy to operate effectively in a competitive environment. The Financre Minister
The Council at its 296th meeting held on 29th, 30th June, and 1st July, 2010, while considering an issue raised by CA. Sanjay Kumar Agarwal under Item No.2, “Matters of General Interest to the Profession”, decided to constitute a Group under the convenorship of CA. Nilesh Vikamsey, to examine the matter of development of an alternative dispute resolution mechanism (Arbitrator) for dealing with disputes of (i) Member vis-à-vis Member; and (ii) Member vis-à-vis Student and bringing the same back to the Council with its recommendations thereon. The President was authorised to nominate the other members of the Group.
Dear Corporate Taxpayer, Please note that the due date of filing of I-T returns for corporate taxpayers is 30th September, 2010 for AY 2010-11. In case you have not already E-filed your I-T return, please do so immediately without waiting till the last minute. Since the prior registration of the DSC is a pre-requisite before […]
Government of India vide its Notification No.10/2010-E.S/F. No.6/8/2009-E.S. dated June 16, 2010 has amended the Prevention of Money-laundering (Maintenance of Records of the Nature and Value of Transactions, the Procedure and Manner of Maintaining and Time for Furnishing Information and Verification and Maintenance of Records of the Identity of the Clients of the Banking Companies, Financial Institutions and Intermediaries) Rules, 2005. A copy of the Notification is enclosed for information and necessary compliance.
In a recent judgement, a Division Bench of the Bombay High Court has held (among other things) that in case of a “public company”, the agreements between the shareholders which provides for restrictions on free transferability of shares are to be res
Companies Bill, 2009 (the Bill) was introduced on 3rd August, 2009 in the Lok Sabha and was referred to the Standing Committee on Finance of the Parliament (the SCF) for examination and report. The Bill seeks to codify a new law to regulate companies
The new Companies Bill could contain a provision that will make auditors compensate retail investors in cases of corporate fraud, a measure aimed at bringing in more accountability into audit profession.
Tax officials are scrutinising other cross-border mergers like the Vodafone-Hutchison deal for possible tax evasion after the Bombay High Court rejected a petition against imposition of tax on the deal, a key finance ministry official said on Moday.
The Finance Ministry today said safe harbour rules — a set of norms that would enable the income tax (I-T) authorities to accept without scrutiny the tax returns by the Indian units of foreign companies — would be soon put in place. “Safe harbour
