"22 November 2010" Archive

Draft Scheme of on Site Audit in context of Post Clearance Audit (PCA) for Imports

INTRODUCTION: “A good beginning makes a good end”. Hope this comes true for the draft scheme of “On site audit”. Export-Import is an important determinant of growth of a country. A strict policy regarding the import-export may become an obstacle in ...

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Posted Under: Custom Duty |

Indian power Sector

Power Conference 2010 held in Hyderabad, Andhra Pradesh. The conference was organized by Confederation of Indian Industry and was attended by over 200 delegates from various central and state utilities like NTPC, NHPC, PGCIL, KPTCL and UGVCL along wi...

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Posted Under: Custom Duty |

Gold and its New Relatives

Three thousand year old traditional colors of hoarding stores of wealth that are physical, portable and easily devisable are hard to break. This report is not a speculative figure or number guessing. It brings you the fundamental reasons behind the f...

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Posted Under: Custom Duty |

Result of Online CPT Examination held in October, 2010

The result of online CPT examination held in the month of October, 2010 is likely to be declared on 30th November, 2010. The result can be viewed at www.icai.org...

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Posted Under: Custom Duty |

Increase in allowance exemption limit for employee working in any transport system

Notification No. 85/2010-Income Tax (22/11/2010)

Notification No. 85/2010-Income Tax Exemption Limit in respect of employee working in any transport system:- From 01.09.2008- Any Allowance granted to an employee working in any transport system for meeting his personal expenditure during his duty performed in the course of running of such transport from one place to another place, provid...

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Tax Return Preparer (First Amendment) Scheme, 2010 – Amendment in paragraphs 2 and 11

Notification No. 84/2010-Income Tax (22/11/2010)

Notification No. 84/2010-Income Tax In exercise of the powers conferred by sub-section (1) of section 139B of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby amends the Tax Return Preparer Scheme, 2006, published vide notification number S.O. 2039(E) dated the 28th November, 2006...

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Law of Arbitration in relation to a proceeding under section 397/398 of Companies Act, 1956?

Alternative Dispute Resolution Mechanism (ADR) is encouraged in view of the fact that there exists an unreasonable delay in the Courts. Among the other modes of Alternative Dispute Resolution (ADR), dispute resolution through Arbitration in accordance with the provisions of Arbitration and Conciliation Act, 1996 is being encouraged now. I...

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Posted Under: Custom Duty |

Government may cancel 38 telecoms licences as recommended by TRAI

Late on Thursday, a source with direct knowledge of the matter said the Telecom Regulatory Authority of India recommended to the government that it cancel 38 telecoms licences because the operators did not meet rollout requirements. While shares in R...

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Posted Under: Custom Duty |

SEBI to reduce time for initial public offering process from 12 days to a week

SEBI is looking at reducing the time for initial public offering process from 12 days to a week, said Mr C.B. Bhave, Chairman of the regulator.This means, retail investors who apply for an issue through ASBA (application supported by blocked amount),...

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Posted Under: Custom Duty |

Excise Duty Dispute- SC sets aside tax order favouring bajaj auto

The Supreme Court of India last Friday set aside an order passed by the tax tribunal CESTAT, which had given a favourable order to Bajaj Auto (BSE:532977) in a case of dispute over the under-payment of excise duty to the government.The court set asid...

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Posted Under: Custom Duty |

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