The demand for a ban on fake non-governmental organisations and a tax regime to identify them in the forthcoming Budget have come from none other than the NGOs themselves. In a pre-budget interactions with Finance Minister Pranab Mukherjee, NGOs plea
Section 397/398 of the Companies Act, 1956 provides a relief to the minority against the majority if the majority indulges in the oppressive acts and the acts of mismanagement. It is not that every shareholder can avail the remedy available under section 397/398 of Companies Act, 1956 and section 399 specifically deals with the issue as qualification to file a petition under section 397/398 of the Act. Section 399 of the Companies Act, 1956 substantially provides as follows:
The Ministry of Youth Affairs and Sports has informed that the Board of Control for Cricket in India (BCCI) has not complied with the mandatory requirements of submitting the necessary documents to the Government of India for annual recognition as a National
With an aim to increase retail investors’ participation in stock market, Sebi is considering higher allocation of public offer shares for mutual funds. Initial and follow-on public offers have traditionally been a preferred route of stock market inve
Those looking for income-tax relief in the forthcoming Budget to fight rising food prices are likely to be disappointed. According to a senior finance ministry official, the Direct Taxes Code (DTC) has to be implemented next year and considering DTC is a composite plan, it will not be a good idea to implement it in bits and pieces.
To give some relief to common man battling rising prices, finance minister Pranab Mukherjee is expected to raise the exemption limit on annual savings of an individual in the upcoming Budget. The savings exemptions may be raised in the Union Budget
The labour ministry has opposed the finance ministry’s suggestion that there should be checks on early withdrawals from the employees provident fund accounts, as it sought to defend the right of subscribers to use their own money.
Certain have been using fake hawala bills to inflate their turnover, a sales tax department investigation has found. Achievement of a certain level of turnover is an entry-level criterion for companies to bid for such big-ticket (multicrore) projects
A tax evasion racket involving over 400 firms, most of which are based in the city, has come to light. The state sales tax department, which busted the racket, claimed that its initial assessment showed that the racket involved transactions worth Rs
The sub-section (1) of section 20 has been amended to provide for appeal to the Central Sales Tax Appellate Authority against the Tribunal order in respect of issues relating to stock transfer or consignment of goods in so far as it involves a dispute of inter-state nature.
