"October, 2010" Archive - Page 5

Central Board of Direct Taxes (CBDT) is fighting many battles all at once – SSN Moorthy

The Central Board of Direct Taxes (CBDT) is fighting many battles all at once -- from the Vodafone tax case to pacifying India Inc on certain provisions of the direct taxes code, to voicing concerns on a hurried shift to IFRS. Haste makes waste. Th...

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Posted Under: Income Tax |

Tax department want School children's to learn the importance of taxes

THE tax department wants to catch the next generation of tax payers early.School children will learn the importance of taxes for the society as part of their curriculum,an education the government thinks will ensure they grow up to become honest tax ...

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Posted Under: Income Tax |

Finance Minister’s Address at EEC-2010

India recorded a GDP growth of 7.4 per cent in 2009-10. It has been further consolidated in the current fiscal year with growth in the first quarter estimated at 8.8 per cent. This is in line with the GDP projections of 8.5 ± 0.25 per cent growth in ...

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Posted Under: Income Tax |

Public issues by Insurance Companies/Preferential issue of equity shares or convertible securities or warrants to promoters and promoter group

Press Release No. 231/2010 (25/10/2010)

In order to ensure uniform treatment for all classes of investors in rights issues, the Board decided that only one payment option may be given by the issuer to all the investors i.e. either (i) part payment on application with balance money to be paid in calls or (ii) full payment on application. The Board also decided that where the iss...

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Satyam case- Supreme Court cancels bail to Raju

The Supreme Court today cancelled the bails granted to Satyam Computer founder B Ramalinga Raju, his brother B Rama Raju and four others by the Andhra Pradesh High Court in the Rs 14,000-crore accounting fraud. Hearing the CBI plea, a Supreme Court b...

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Posted Under: Income Tax |

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

Notification No. 81/2010-Income Tax (26/10/2010)

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...

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IRDA circular on Variable Insurance Products

Circular No. IRDA/ACT/CIR/VIP/171/10/2010 (21/10/2010)

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 a...

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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 (22/10/2010)

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 o...

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

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 . ...

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Posted Under: Income Tax |

Companies cannot pay damages in installments- state consumer commission

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...

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Posted Under: Income Tax |