Follow Us :

Archive: 06 December 2010

Posts in 06 December 2010

Ownership of units – Two or more undertakings under the same ownership – Status of the unit

December 6, 2010 475 Views 0 comment Print

Equity participation by other industrial undertaking shall mean total equity held in an industrial undertaking by other industrial undertaking or undertakings, whether small scale or otherwise, put together as well as the equity held by persons who are Directors in any other industrial undertaking or undertakings.

Liability to pay service tax on commission paid to Foreign Service provider arises only with effect from 18.4.2006

December 6, 2010 732 Views 0 comment Print

On hearing both sides, we find that the issue in dispute is as to whether service tax liability arises on recipient of commission who resides outside India and has no office in India, for the period prior to 18.4.2006. The Apex Court has held that such liability arises only with effect from 18.4.2006 with the introduction of Section 66A of the Finance Act, 1944. The ratio of the Apex Court’s decision in Union of India Vs. India

Notification No.88/2010-Income Tax Dated 6/12/2010

December 6, 2010 241 Views 0 comment Print

Notification No.88/2010-Income Tax S.O. It is hereby notified for general information that the organization Indian Institute of Technology, Hyderabad, Kandl, Andhra Pradesh has been approved by the Central Government for the purpose of clause (II) of sub-section (1) of section 35 of the Income tax Act, 196′. (said Act), read with Rules . 50 and 5E of the Income-tax Rules, 1962 (said Rules), from Assessment Year

How to go ahead with the legal reforms in India and the connected issues?

December 6, 2010 174 Views 0 comment Print

Whenever one talks about the judicial reforms, the corruption, the technicalities, costs and the unreasonable delay in courts, there are people and professionals saying that the situation is getting exaggerated. There is a total confusion about the judicial or legal reforms and the issue is often shown as complicated. It is true that bringing reforms in our ‘justice delivery mechanism’ is a complicated exercise and it is recognized in the year 1958 itself in the 14th Law Commission Report.

Anti Dumping Duty on parts/components of Compact Fluorescent Lamps (CFL) from China and Hong Kong as per Customs Notification No.138/2002-Customs dated 10.12.2002 – Regarding

December 6, 2010 450 Views 0 comment Print

It has been brought to the notice of the Board that Board’s letter dated 25.10.2007 issued vide F.No. 528/53/2007-Cus (TU) is being interpreted wrongly to mean that anti-dumping duty would not be imposed on CFLs if they are imported in CKD/SKD condition either together or in part shipments.

SEBI asks for physical verification of gold underlying the Gold ETF units by statutory auditors of mutual fund schemes and reporting to trustees on half yearly basis

December 6, 2010 639 Views 0 comment Print

This circular is issued in exercise of powers conferred under section 11(1) of the Securities and Exchange Board of India Act, 1992, read with provisions of regulation 77 of SEBI (Mutual Funds) Regulations, 1996 to protect the interests of the investors in securities and to promote the development of and to regulate the securities market.

RRBs – Opening of bank accounts – salaried employees – RBI/2010-11/298

December 6, 2010 340 Views 0 comment Print

It has been brought to the notice of RBI that for opening bank accounts of salaried employees, some banks rely on a certificate/letter issued by the employer as the only KYC document for the purposes of certification of identity as well as address proof. Such a practice is open to misuse and fraught with risk.

Issuance of Non-Convertible Debentures (NCDs)

December 6, 2010 510 Views 0 comment Print

Investments by the FIIs shall be subject to extant provisions of the Foreign Exchange Management Act (FEMA) and rules, regulations, notifications, directions or orders issued thereunder, and within such limits as may be set forth in this regard from time to time by the SEBI.

Notification No. 87/2010-Income Tax Dated 6/12/2010

December 6, 2010 251 Views 0 comment Print

Notification No. 87/2010-Income Tax S.O. It is hereby notified for general information that the organization Indian Academy of Science, Bangalore has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules: 1962 (said Rules), with effect from Assessment Year 201041 onwards

Amendment in Paragraph 2.27 of Handbook of Procedures, Vol.I, 2009-2014(RE 2010) regarding import of samples

December 6, 2010 228 Views 0 comment Print

In exercise of the powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-14, the following amendment is being made in Para 2.27 of Handbook of Procedures, Vol. I, 2009-2014(RE 2010) in view of Customs Notification No. 16 dated 27.02.2010.

Search Post by Date
May 2024
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031