"29 December 2010" Archive

Notification No. 102/2010-Customs (N.T.) Dated: 29/12/2010

Notification No. 102/2010-Customs (N.T.) (29/12/2010)

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Government of India in the Ministry of Finance...

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Currency ETF-The New Diversification

With Global imbalances on the never ending rise and huge budget deficits of the Developed economies currency fluctuation is the new tremor of the quakes being felt. In other words in the coming year of 2011 we will find Europe and US going for massive budget cuts and imposition of higher rate of taxes. This will create burden and slower g...

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Posted Under: Custom Duty |

Complete your KYC formalities before Jan 1, 2011

KYC-Compliance: CDSL Ventures (CVL), a wholly-owned subsidiary of Central Depository Services-India (CDSL), has been appointed by the mutual fund industry to do KYC verification of investors. So, an investor needs to submit the following mandatory do...

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Posted Under: Custom Duty |

CVC seeks report from MCD on 30 graft complaints

The Central Vigilance Commission has directed the Municipal Corporation of Delhi to investigate and report its findings on a total of 30 complaints of alleged corruption. Besides it has imposed major penalty against 138 officials of several central g...

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Posted Under: Custom Duty |

HUFs can not continue PPF after 15 years

Hindu undivided families (HUFs) will now have to mandatorily exit from the public provident fund (PPF) on completion of 15 years. The move is aimed at checking misuse as several people were investing in PPF to earn 8% tax-free return as an individual...

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Posted Under: Custom Duty |

Work for GST, Not Against It

The government’s move to offer fresh excise duty exemptions to companies already enjoying a tax holiday in Himachal Pradesh and Uttarakhand is blatantly wrong. It does damage to the goal of having a harmonised goods and services tax, to the economic ...

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Posted Under: Custom Duty |

TRAI likely to postpone implementation of norms for unsolicited calls

Lack of preparedness on the part of mobile operators may force the Telecom Regulatory Authority of India (TRAI) to extend its January 1, 2011 deadline to begin its crackdown against telemarketing companies for making unsolicited calls and sending SMS...

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Posted Under: Custom Duty |

Corrigendum to Notification No. 14(RE-2010)/2009-14 dated 22.12.2010 regarding export of cotton yarn

Notification No. 15(RE-2010)/2009-14 (29/12/2010)

However, Exporters who have obtained Registration Certificate from Textile Commissioner, Mumbai on or before 1st December, 2010 would be permitted to export Cotton Yarn within the quantity limit for which such registration certificate has been issued and within the validity of such registered contract...

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Income tax department notice to Satyam to get accounts for years 2002/03 and 2007/08 audited

Satyam Computer Services Ltd. said Tuesday it has received a letter from India's tax department requesting it to get its accounts audited for the tax assessment years of 2002-2003 and 2007-2008. No further details were provided in Satyam's filing to ...

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Posted Under: Custom Duty |

Conditions and modalities for registration of contracts of cotton with DGFT

Policy Circular No. 09 (RE-2010)/2009-14 (29/12/2010)

Attention is invited to Notification No. 12 (RE-2010)/2009-14 dated 16.12.2010 issued by this Office whereby registration of contracts for export of cotton under ITC(HS) Code 5201,5202 & 5203 will be done by DGFT and Policy Circular No. 6(RE-2010)/2009-14 dated 16.12.2010, through which it was informed that modalities for registration of ...

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