Delhi and Mumbai are so 2009. The millionaires of Aurangabad want to be recognized for what they are – with the help of 115 Mercedes cars. A group of the city’s industrialists have come together to give Mercedes its largest-ever collective order: 11
Notification No. [GSR 784(E) (File No. C. 5/1/2010-SEZ)]-Income Tax In exercise of the powers conferred by section 55 of the Special Economic Zones Act, 2005 (28 of 2005), the Central Government hereby makes the following rules further to amend the Special Economic Zones Rules, 2006, namely :— 1. (1) These rules may be called the Special Economic Zones (Fourth Amendment) Rules, 2010.
Notification No. 74/2010-Income Tax It is hereby notified for general information that the: organization Xavier Centre of Historical Research, Goa has been approved by the Central Government for the purpose of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), from Assessment year 2010-2011 onwards in the category
Sticking to its claim that it does not have a tax liability, Vodafone today said it made no capital gains in the USD 11 billion (about Rs 50,000 crore) Hutchison buyout deal and would take necessary action to defend its position.
The Supreme Court will soon decide whether sales tax is to be levied on the incidental charges like transportation, packaging and labour incurred by Food Corporation of India (FCI) on purchase of foodgrains for the state machinery including contingen
Attention is invited to the existing guidelines of Department of Telecommunications (DOT), Ministry of Communications and Information Technology, Government of India whereby use of any kind of satellite phone in India is permissible only after obtaining a licence from the DOT. Presently, use of specific types of INMARSAT terminal only is permitted by the DOT, while use of ‘Thuraya’ satellite phone in India without specific permission of DOT is illegal. Thus, unauthorized use of a satellite phone in India attracts penal provisions under section 20 and 21 of the Telegraph Act, 1885 for violation of provisions of section 4 of the said Act.
The Income Tax Department on Monday said that it will issue a demand for over R12,000 crore to Vodafone within four weeks, following a Supreme Court verdict to that effect. “We will be raising tax demand on Vodafone within four weeks,” CBDT Chairman S.S.N. Moorthy said. He said a few similar cases are also under the I-T department’s scanner, but refused to name them. “Apprehensions have been expressed in different quarters regarding the impact of such action on foreign investment in India…. This, together with the fact that India has received the highest ever foreign direct investment in the current fiscal, belies that apprehension,” he said.
The government is understood to be considering roping in ICAI, the apex accounting body, to tighten the compensatory scheme for the people displaced by mining projects amid a furore over the proposal for 26 per cent profit-sharing in the new mining l
With the stock market moving closer to new record peaks, watchdog SEBI and the stock exchanges have enhanced their guard against manipulators. The regulating authority as well as the bourses, which act like first-stage regulators in the stock market,
On consideration of the reports of disturbance of general life caused due to floods and heavy rains, the Central Board of Direct Taxes, in exercise of powers conferred under section 119 of the Income Tax Act, 1961, hereby extends the due date of filing of returns of income for the Assessment Year 2010-11 from 30-09-2010 to 15th October 2010. Accordingly the due date for Tax Audit report u/s 44AB of the Income Tax Act is also extended to 15th October 2010.
