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Archive: 26 October 2010

Posts in 26 October 2010

Notification No. 81/2010-Income Tax Dated 26/10/2010

October 26, 2010 970 Views 0 comment Print

Notification No. 81/2010-Income Tax in exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the said Act read with Rule 18C of the Income-tax Rules, 1962, and subject to the provisions of Industrial Park Scheme, 2008, the Central Government hereby notifies M/s. Nodia Cyber Park Private Limited, New Delhi, as an undertaking and the project at C-28 and C-29, Sector-62, Noida, Gautam Budh Nagar, Uttar Pradesh – 201 301, being developed and being maintained and operated by the said undertaking, as an industrial park for the purposes of the said clause.

IRDA circular on Variable Insurance Products

October 26, 2010 913 Views 0 comment Print

Circular No. IRDA/ACT/CIR/VIP/171/10/2010, dated 21-10-2010 Enclosed are the draft guidelines on Variable Insurance Products. Insurers are requested to send their comments on these guidelines on or before October 31,2010 so that the Authority can issue final guidelines on or before November, 4, 2010. A separate circular is being sent to all insurers where current Universal […]

Expenses of Management (EOM) under section 40C of the Insurance Act, 1938 read with Rule 17E of the Insurance Rules 1939

October 26, 2010 5275 Views 0 comment Print

Expenses of Management (EOM) under section 40C of the Insurance Act, 1938 read with Rule 17E of the Insurance Rules 1939 Circular No. IRDA/F&I/CIR/EMT/169/10/2010, dated 22-10-2010 A detailed review of the various elements of the ‘Expenses of Management’ (EOM) reckoned by non-life insurers for compliance with section 40C of the Insurance Act, 1938 read with […]

Income Tax department expects Rs 5,000 crore as TDS from Commonwealth Games related works

October 26, 2010 291 Views 0 comment Print

The Income Tax department is expecting to collect Rs 5,000 crore as taxes from the payments and salaries relating to award of contracts and payments made by various agencies in the Commonwealth Games .

Companies cannot pay damages in installments- state consumer commission

October 26, 2010 237 Views 0 comment Print

Mumbai- Till fairly recently, parties held guilty in consumer forums delayed shelling out compensation by paying only a part or by seeking adjournments. Not anymore. The state consumer commission has, among other measures, precluded payment of compen

Do away with GST council, settlement body-Dasgupta to Centre

October 26, 2010 400 Views 0 comment Print

In what could delay further the implementation of Goods and Services Tax (GST), state panel chief Asim Dasgupta has asked the Centre to do away with GST council and the dispute settlement body in the constitutional amendment bill. “Empowered Group of

Income Tax department compares cost of goods sold for contracts awarded by the Games Organising Committee

October 26, 2010 276 Views 0 comment Print

The Income Tax department, which conducted searches against major consortia which bagged contracts related to Commonwealth Games, is looking at rate contracts and the difference in market and procurement prices of various goods like air conditioners

Soon your property will have Unique Property Identification (PID) numbers

October 26, 2010 543 Views 0 comment Print

Not just you, now your property too will get a unique identification number. By January 2011, all property owners of Bangalore will finally get their updated unique Property Identification (PID) numbers.

Satyam case – Trial to begin from November 2

October 26, 2010 297 Views 0 comment Print

The trial in multi-crore Satyam Computers accounting fraud case would begin from November 2, nearly 22 months after B Ramalinga Raju, disgraced founder of Satyam Computer Services admitted fudging of company accounts to the tune of Rs 7,200 crore (Rs

Deadline for implementation of mobile number portability postponed

October 26, 2010 294 Views 0 comment Print

Communications Minister A Raja’s promise to let people switch their mobile service operators while retaining their telephone number has got delayed once again – the deadline for the implementation of mobile number portability has been postponed from

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