The Standing Committee of Parliament which thoroughly examined The Companies Bill, 2009, has observed that the words “As may be prescribed” has been used in the Bill approximately 235 times, thereby suggesting excessive role and scope for delegated l
Renaming is not a simple exercise in the world of chartered accountants. The parliamentary standing co m mittee on finance headed by fo rmer finance minister Yashwant Si n ha has rejected the demand of the Institute of Cost and Works Acco untants of
Net direct tax collections during the period April to August 2010 of the present fiscal stood at Rs. 1,00,112 crore, up from Rs. 87,888 crore in the same period last fiscal, registering a growth of 13.91 percent. Growth in Corporate Income Tax was 17
Service Tax – Notification No. 47/2010 – Exempts the taxable service of outdoor catering – Centrally assisted Mid-Day Meal Scheme New Delhi, the 3rd September, 2010 Notification No. 47/2010 – Service Tax G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter […]
Service Tax – Notification No. 46/2010 – Amendments in the Notification No. 19/2007- ST, dated the 12th May, 2007 – Appeals to appellate Tribunal Notification No. 46/2010-Service Tax New Delhi, the 3rd August, 2010 G.S.R. (E) – In exercise of the powers conferred by sub-section (1A) of section 86 of the Finance Act, 1994(32 of […]
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 further amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 153/2009-Customs, dated the 31st December, 2009.
The simplified Direct Tax Code (DTC) Bill introduced in Parliament on Monday, which will become effective from April 1, 2012, holds a few surprises, including the withdrawal of tax deduction on the principal component of housing loans. The bill, that
Banks referred in this Appendix shall also include other authorized dealers who have been permitted by RBI to issue BRC. Applicant should be required to furnish a copy of RBI permission circular/letter to this effect.
The Bill will have substantial and significant provisions regarding corporate social responsibility, protection of minority shareholders and redefinition of promoters. The Government will incorporate certain additional provisions in the proposed Companies Bill on the basis of the report submitted by the Parliamentary Standing Committee on Finance this week.
In Tivoli Investment & Trading the question whether notional income can be taken into account for computing annual value was referred to the Special Bench. However, as the High Court has already admitted the assessee’s appeal on the issue for earlier
