The Cabinet approved Direct Tax Code (DTC) as tabled in Parliament on last day of August 2010 has many surprises and hidden shocks for individuals as well as corporate India. The key objective of DTC is to benefit small taxpayers as a result of rati
Just 10 short years ago, the 189 member states of the United Nations signed a declaration in which they said “we will spare no effort to free our fellow men, women, and children from the abject and dehumanizing conditions of extreme poverty to which
The Department of Economic Affairs, Ministry of Finance is coming out with the sixteenth edition of the annual publication titled ‘India’s External Debt: A Status Report 2009-10’ that analyses India’s latest external debt position (at end-March 2010) based on the data released at end-June 2010 by the Reserve Bank of India.
Apart from a number of specific suggestions made by the Ministry of Corporate Affairs for strengthening Investor Protection, the Standing Committee of Parliament, which thoroughly examined The Companies Bill, 2009, has desired that the proposed Inves
Amid indications that outsourcing could become a hot issue in the November polls, President Barack Obama has made his stand on the issue clear, saying that tax breaks should go to companies that create jobs in the US and not overseas. Obama comments
Corporates going in for debt restructuring may face rough weather on the income-tax front when the Direct Taxes Code (DTC) comes into play from April 1, 2012. This is because the DTC provides that loans waived by lenders will be treated as income in
The government plans to redefine the functions of the National Advisory Committee on Accounting Standards (Nacas) to convert it into an independent regulatory entity to monitor the quality of audit undertaken across the corporate sector in the countr
Change of Examination Timings for November-2010 Examinations Students appearing in the next Professional Competence Examination (PCE), Integrated Professional Competence Examination (IPCE) and Final Examinations of the Institute to be held from 8th November-2010 to 22nd November-2010 may kindly note that the Examination Timings are from 02.00 PM to 05.00 PM (IST) Similarly, Examination timings at […]
The Bombay High Court on Wednesday dismissed Vodafone International’s plea challenging the I-T Department Rs. 12,000 crore demand in tax and penalty on USD 11 billion takeover of Hutchison Telecom. This judgement could impact foreign companies buying
In a recent decision, Honourable Madras High Court has upheld the legislative competence of levy of service tax on software services by the central government
