"16 December 2010" Archive

Understanding E1 AND E2 Sales under CST Act 1956

Central Sales Tax Act 1956 envisages single point of taxation i.e. tax at the first point of sales. Subsequent sales during the movement of the goods from one state to another have been exempted under section 6(2) of CST Act. Before proceeding to understand which sale is exempted under section 6(2) and the conditions for exemption, one sh...

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Vodafone case – government requests SC to waive its 1 per cent commission

The government has requested the Supreme Court to waive its 1 per cent commission for letting it withdraw Rs 2,500 crore, which has been deposited in the court by telecom firm Vodafone International Holdings. Instead, it has requested the court to di...

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SEBI bars 5 firms, directors

Stock market regulator SEBI has restrained five more companies along with their directors for failing to redress investor grievances with immediate effect on Monday. They are D R Softech & Industries Ltd, Nexus Software Ltd, Prakash Fortan Softech Lt...

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Tax panel to probe Tata Realty- Unitech deal

The Central Board of Direct Taxes has asked a committee to probe commercial transactions mentioned in some of the tapped conversations of corporate lobbyist Niira Radia. The committee headed by a Director-General in charge of Investigation, Delhi, will probe a transaction between Tata Realty and Infrastructure Ltd (TRIL), a Tata group fir...

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ICAI Awards 2010 Corporate CA Achiever’s Acclaim

Committee for members in Industry of ICAI is organizing Annual Corporate forum in January 2011. As you all are aware that, Corporate Forum is a ‘Mega Event’ wherein multifold activities are conducted concurrently with an overall objective of updating...

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Introduction to Multi-Purpose Empanelment Form (Including Bank Branch Auditors Empanelment)

Every year, Professional Development Committee of the Institute hosts the Multipurpose Empanelment Form (MEF) on www.meficai.org. This year also, MEF 2010-11 was hosted on May 1, 2010. As per the decision of the Council of the Institute taken at its ...

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Service Tax on renting of immovable properties- Delhi HC Lobs Matter Back To SC

As per briefing received by me from my senior who attended the Court on 14th Dec., DHC after hearing detailed arguments from Mr. Harish Salve, Sr. Advocate and Mr. Chandihok, ASG, (with brief intervention by Mr. Ganesh) accepted the suggestion emanat...

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IRDA Plan To Introduce Demat Account For Insurance Policies

NA 16/12/2010

From January, you can handle your insurance needs with an insurance account number with more speed and convenience, thanks to a new initiative of the Insurance Regulatory and Development Authority (IRDA). The Authority is working on introducing insur...

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Revenue Collections from Indirect Taxes Increases by 42.3 percent During April – November 2010

Revenue collections from indirect taxes i.e., Customs, Central Excise and Service Tax Revenue (Provisional) for the first eight months i.e., April –November 2010 of the current financial year 2010-11 has increased to Rs. 2,07,756 crore which is 42.3%...

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Announcement regarding ISA AT to be held in Dec 2010

The Committee on Information Technology, has introduced, New Syllabus, with effect from April 2010 for which first Assessment Test will be held in Dec 2010. It has been decided that the members already registered for the ISA course prior to April 2...

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