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Archive: 2010

Posts in 2010

Declaring airports at Delhi and Sahar, Mumbai (Bombay) as ‘customs airports for the purpose of Courier Imports and Exports Regulations

September 9, 2010 435 Views 0 comment Print

G.S.R. (E). – In exercise of the powers conferred by section 157 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby declares customs airports at Delhi and Sahar, Mumbai (Bombay) to be the ‘customs airports’ for the purpose of sub-regulation (1) of regulation 2 of the Cou

Harmonization of Provisions of Companies Bill, 2009 with IFRS Recommended

September 9, 2010 463 Views 0 comment Print

The Standing Committee of Parliament, which thoroughly examined The Companies Bill, 2009, has observed that there are several matters included in the Bill, which need modification with a view to harmonizing them with the International Financial Repor

Vodafone verdict may discourage foreign investments routed through tax havens

September 9, 2010 507 Views 0 comment Print

The Bombay High Court’s verdict in the Vodafone case will not impact fund flows from countries like the US and Japan, but it will help discourage foreign investments that are routed through various tax havens, legal experts said today.

DTC may adversely affect the SEZS

September 9, 2010 735 Views 0 comment Print

The proposed Direct Taxed Code (DTC) is likely to adversely affect the exponential rise in exports from special economic zones (SEZs). Exports from SEZs rose 68 per cent during the April-June period to Rs 58,685.46 crore, compared to the correspondin

Indian banks must grow in size to become global players: FM

September 9, 2010 360 Views 0 comment Print

Finance Minister Pranab Mukherjee on Tuesday asked banks to put in place systems and procedures with the view to becoming global players and also promote financial inclusion.

ICAI Convocation – 2010 on 22nd September, 2010

September 9, 2010 450 Views 0 comment Print

The Convocation for the newly enrolled Members for the period from September, 2009 to February, 2010 will be held as per schedule given below with a view to inculcate a sense of belongingness and attachment with the Institute.

Brief note on Increase in wage ceiling for coverage of employees under ESI Act

September 9, 2010 750 Views 0 comment Print

On 26th February 2010, the Government of India vide notification (See Note-2) invited suggestions in respect of an amendment proposed to be made regarding increase in the existing wage ceiling for coverage of employees under Employees State Insuranc

Govt soon to release monthly data on FDI outflows

September 8, 2010 556 Views 0 comment Print

The Government will soon start releasing monthly data on outward foreign direct investments on the lines of FDI inflow figures that it makes public regularly, according to an official.The data will be released in coordination with the Reserve Bank, w

Private higher educational institutions have to disclose their income and expenditure

September 8, 2010 1018 Views 0 comment Print

Private higher educational institutions will have to disclose their income and expenditure in a standard format and make them public in line with corporate-style accounting and auditing norms being readied by the human resource development (HRD) min

DTC brings life insurance, health cover under one clause and reduced the overall deduction to Rs. 50000

September 8, 2010 910 Views 0 comment Print

The Direct Tax Bill has proposed to introduce a new investment scheme to avail of tax exemption. In this scheme, an investor can invest up to Rs 50,000 in life insurance policies, health insurance and children’s tuition fees. One can also invest up

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