You are aware that there has been a remarkable growth of customer transactions in RTGS over the years, with currently more than 1,50,000 customer transactions being settled on a daily average in the RTGS system. As the RTGS system handles large value and time critical transactions, all member banks need to address the customer complaints and concerns on a priority basis.
Central Excise – SSI Exemption – Use of another person’s brand name – Not entitled for exemption: It is manifest from a bare reading of Clause 4 of the Notification, read with Explanation IX that it clearly debars an assessee from the benefit of exemption under the notification, if he uses another person’s brand or trade name with the intention of indicating a connection between the assessee’s goods and such other person. It is evident that the object of the exemption notification is to grant benefits only to those industries which otherwise do not have the advantage of brand or trade name. In order to avail of the benefit of the exemption notification, the assessee must establish that his product is not associated with some other person: if it is shown that the assessee has affixed the brand name of another person on his goods with the intention of indicating a connection between the assessee’s goods and the goods of another person, using such name or mark, then the assessee would not be entitled to the benefit of exemption notification; if the assessee is able to satisfy the Adjudicating Authority that there was no such intention, or that the user of the brand name was entirely fortuitous, it would be entitled to the benefit of the exemption
Replying to the West Bengal Taxation Laws (Second Amendment) Bill, 2010, Finance Minister Asim Dasgupta said although the Centre allowed the states to increase both 4 per cent and 12.5 per cent slabs of VAT by one per cent, the state government did n
Merely because the long term capital gain is exempt under section 47(iv) under the normal provision of the Act, it is not correct to say that it is also to be reduced from the net profit for the purpose of computing book profit under section 115JB of the Act when the Explanation to section 115JB does not provide for any deduction in terms of section 47(iv)
Fixed deposits rates are on the rise. Though the investors living on interest income are happy about it, they are finding it difficult to catch the peak. The biggest challenge an investor faces in a rising-rate scenario is to identify the peak and lo
Some of the crucial documents which could throw light on Commonwealth Games deals have gone missing with the probe agencies fearing that they could have been destroyed or hidden.Official sources said that the key files, which contain important information on tendering, budgetary allocation and contract details, are missing from the Commonwealth Games Organising Committee (OC) office.
With Nokia succumbing to pressure and recently setting up its email server in New Delhi for government authorities to snoop, the Union Home Ministry, which has tasted blood, is now exerting pressure on Google Inc to share Gmail’s encryption keys.
G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 10/2008-Customs, dated the 15th January, 2008 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 33(E), dated the 15th January, 2008, namely:-
The basic charter of Ministry of Corporate Affairs is to promote the growth of the Indian corporate sector through enlightened regulation. To enable formulation of enlightened regulations that provide a framework for the corporate sector and its stak
Latest and fully updated TDS Rates / TDS Chart for A.Y. 2011-12 / Financial Year 2010-11 with all the amendments till the date of publication of this article is given below. In Budget 2010 TDS rates has not been changed but cut off amount has been pr
