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Archive: 2010

Posts in 2010

Request for “Interpretive Letter” under the SEBI (Informal Guidance) Scheme, 2003 regarding acquisition of shares by promoters under regulations 11(1) and 11(2) of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997 (SAST Regulation)

September 11, 2010 576 Views 0 comment Print

Securities and Exchange Board of India Letter No. CFD/DCR/IG/DMS/19409/10 dated 9-9-2010 This has reference to your letter dated July 7, 2010 in the captioned matter. In your letter under reference, you have, inter alia, represented as follows:- a) The promoter shareholding in M/s Kamdhenu Ispat Limited (KIL) as on March 31, 2010 stands at 54.97% […]

Service Tax – Notification No. 48/2010 – Amends Notification No. 30/2005 – Power of central excise officers for the purpose of adjudication u/s 83A

September 11, 2010 1952 Views 0 comment Print

Notification No. 48/2010 – Service Tax, New Delhi, the 8th September 2010 G.S.R.    (E).- In exercise of the powers conferred by Section 83A of the Finance Act, 1994 (32 of 1994), the Central Board of Excise and Customs hereby makes the following further amendments in the notification of the Government of India, Ministry of Finance, […]

ICAI announces Revised Structure of Question Papers for November, 2010 Examination

September 11, 2010 895 Views 0 comment Print

It has been decided to revise the structure of question papers for the PCE, IPCE and Final (old and new course) examinations as under, from November, 2010 examination onwards:

Common Secretariat for Appellate Authority established under The Chartered Accountants Act, 1949, The Cost & Works Accoutant

September 11, 2010 1455 Views 0 comment Print

In terms of requirements of The Chartered Accountants Act, 1949, The Cost & Works Accountants Act, 1959 and The Company Secretaries Act, 1980, a common Secretariat for the Appellate Authority constituted by the Central Government has been established

Income Tax department conducts nationwide searches on more than 70 premises of major real estate developers

September 11, 2010 426 Views 0 comment Print

In a major crackdown, the Income Tax department is conducting nationwide searches on more than 70 premises of major real estate developers in the NCR including Paras and Amrapali group over alleged tax evasion. According to sources, more than 450 off

After Vodafone verdict IT department will investigate more cross-border mergers involving Indian assets

September 11, 2010 1172 Views 0 comment Print

The government will look into more cross-border mergers involving Indian assets, like the Vodafone-Hutchison deal, after the Bombay High Court on Wednesday rejected UK-based Vodafone’s petition against the imposition of tax by authorities here.

Withholding tax deductible only if non-resident’s income chargeable to tax in India

September 11, 2010 615 Views 0 comment Print

The Supreme Court on Thursday rejected the income-tax department’s contention that companies based in India were liable to deduct tax when they make any payment overseas, offering relief to domestic firms and multinational companies based here that w

Attention members carrying out tax audit u/s 44AB

September 11, 2010 3052 Views 0 comment Print

Attention of members is invited towards the changes in the Guidance Note on tax Audit under section 44AB of the Income-tax Act, 1961 approved subsequent to the publication of the Supplementary Guidance Note, issued by the erstwhile Fiscal Laws Commit

Preparing Indian Banks for Global Competitiveness : Strategic and Policy Perspectives

September 11, 2010 915 Views 0 comment Print

Scale has generally been viewed as the most important, if not the dominant, determinant of bank competitiveness. In the Indian context, no discussion about banking sector reform is complete without reference to consolidation, which is generally take

Recommendation to Make Formulation of a CSR Policy Mandatory for Big Companies

September 11, 2010 516 Views 0 comment Print

In response to the overwhelming concerns shown by the Standing Committee of Parliament on Finance (SCF), which thoroughly examined The Companies Bill, 2009, on the extent of Corporate Social Responsibility (CSR) being undertaken by corporates and the

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