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The government on Tuesday said it was looking into at least four more cross-border mergers like Vodafone for a possible tax loss that may have taken place. The deals under scanner include GE Capital International Services, Intelnet Global Services,
The Commerce Ministry today said it will set up a committee to recast the export-oriented unit scheme so that the scheme remain attractive even after the end of tax sops in 2011. “EOUs should be re-modeled because challenges and environment have cha
The Direct Taxes Code Bill, 2010 has been referred to the Departmental Related Standing Committee on Finance of Parliament for detailed examination and Report. 2. Considering the importance of the subject, the Committee under the Chairmanship of Shr
Notification No. GSR 882(E), dated 3-11-2010 In exercise of the powers conferred by section 15 of the Government Savings Bank Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Savings Account Rules, 1981, namely :—
Insurance: Anti-Money Laundering/Counter-Financing of Terrorism (AML/CFT) Guidelines CIRCULAR NO. IRDA/F&I/CIR/AML/180/11/2010, DATED 12-11-2010 The Authority has reviewed the AML/CFT guidelines to align certain stipulations with that of the 40+9 Recommendations of the Financial Action Task Force (FTAF). Accordingly, the following additional stipulations/clarifications are issued for compliance. Sl. No. Clause Ref. in Master Circular 2010 on AML/CFT […]
It has been decided to revise the additional fees payable as per Section 611(2) of the Companies Act, 1956 (except for Form 5) as per below details with effect from 5th December 2010 :-
To intimate discrepancy if any found in show cause notice by MCA. Show-cause Notices were issued to a number of defaulting companies. Ministry has undertaken a massive drive to cleanse the MCA21 Registry, as it was found that a number of companies who were in the old Registry are not filing their documents in the MCA21 system. Accordingly, computer generated Show-cause Notices were
The assessee, a statutory body established under the Chartered Accountants Act 1949 for regulating the profession of Chartered Accountants, obtained exemption u/s 10(23C)(iv) pursuant to a notification issued by the CBDT. The notification provided that the exemption would not apply to profits and gains of business unless the business was incidental to the attainment of the objectives of the assessee and separate books of accounts were maintained.
Concerned over revenue leakages, Finance Minister Pranab Mukherjee today asked the government auditor CAG to suggest corrective measures for raising tax and non-tax receipts. “…I would like the CAG (Comptroller and Auditor General) to analyse the a
Indirect tax collection of the government for the first seven monthsof this financial year (April-October) was up 42% to Rs 1.80 lakh crore, an indication that the industrial growth in the country might gather steam in the coming months. “Total reven
