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The Insurance Regulatory and Development Authority (Irda) has suspended sale of universal life policies, which were being promoted as an alternative to unit-linked insurance plans, from October 23. Sales have been suspended until the final guideline
Reduction of Government litigations – providing monetary limits for filing appeals by the Department before CESTAT and High Courts – Regarding F.No.390/Misc./163/2010-JC, New Delhi 20th October 2010 Ministry of Finance, Department of Revenue, Central Board of Excise & Customs INSTRUCTION 1. The National Litigation Policy formulated by the Government of India aims to reduce Government litigation so that […]
The Reserve Bank of India (RBI) will continue with prudential norms for banks, the Institute of Chartered Accountants of India (ICAI) has said. It also stated that International Financial Reporting Standards-9 (IFRS 9) for banks will not be adopted.
Transfer of High Courts Judges-In exercise of the powers conferred by clause (1) of article 222 of the Constitution of India, the President after consultation with the Chief Justice of India, is pleased to transfer the following Judges of the High Co
The Income Tax department today issued an order raising a tax demand of Rs.11,217.95 crore on Vodafone International Holdings BV treating it as an assessee in default under section 201(1) of the Income Tax Act, 1961 (the Act) for failure to deduct ta
Rejecting allegations of corruption, public broadcaster Doordarshan today claimed that the Rs 246 crore contract with a British firm to telecast Commonwealth Games was ‘transparent and as per government rules. Having faced brickbats from all quarters
The income tax department chose the softer option of acting on a tax evasion of Rs 29 crore from CWG broadcast firm SIS Live by withdrawing its own order to attach the company’s bank accounts.It rewrote its order attach accounts directly and instead
After the initial hesitation, some of the private sector life insurance companies are launching unit-linked pension plans, but only with a single premium option. While ICICI Prudential has recently launched its single premium unit-linked pension plan
