The government is pooling in its regulatory resources to frame a comprehensive rule-book for wealth management advisors and has sought inputs for the same from RBI, Sebi and other financial sector regulators. The move follows an estimated Rs 400-cror
The government has given more time to 20 SEZ developers, including Tata Consultancy Services and Mahindra World City, to execute their projects. At a meeting on January 14, the Board of Approval (BoA) headed by Commerce Secretary Rahul Khullar also
The government is expecting to exceed the direct tax collection target of Rs 4.30 lakh crore for 2010-11 on the backdrop of high economic growth of 8.9 per cent recorded during the first half of the current fiscal. Pinning hopes on higher tax realis
Finance Minister Pranab Mukherjee is likely to meet Reserve Bank Governor D Subbarao, SEBI Chairman C B Bhave and heads of the other regulatory bodies on January 21 as part of the pre-budget consultations .Mukherjee, sources said, would use inputs fr
India is Asia’s fourth largest exporter of illicit capital with an estimated outflow of a whopping USD 104 billion between 2000 and 2008, according to a US-based think tank which ranks China as the number one source of illegal money. In its latest r
The 5th meeting of the Indo-UK Task Force on Corporate Affairs was held here today. It was co-chaired by Shri R. Bandyopadhyay, Secretary, Ministry of Corporate Affairs and Shri Martin Donnelly, Permanent Secretary, Department of Business, Innovation
Dy.CIT, Pune Vs KRA Holding & Trading Pvt Ltd -The view of the assessing officer was consistent with the decision of the Tribunal in the case of Castle Investment (supra). The judgement in Castle Investment insofar as is material held that Section 1150(5) does not in any way restrict the allowability of the claim under section 80M. Under Section 80M what is claimed as a deduction is the dividend received by the company. Dividends declared, distributed or paid are not claimed as deduction under Section 80M though they constitute an outflow of funds from the company. Section 80M imposes a monetary restriction on the amount that may be claimed by way of a deduction by providing that the amount of claim cannot exceed the dividend distributed by the assessee by the due date.
Union Finance Minister Shri Pranab Mukherjee held a meeting with Financial Sector stakeholders to get their inputs for General Budget 2011-12, here today. This was the sixth meeting in the series of pre-Budget consultations held by Finance Minister w
The Central Bureau of Investigation has registered a case U/s 120-B of IPC r/w 419, 420, 467, 468, 471, 477-A of IPC and 120-B, 13(2) r/w 13(1)(d ) of Prevention of Corruption Act, 1988 against the Member Revenue Board (an IAS Officer), Govt of Chhat
The Central Bureau of Investigation has registered a case against Assistant Commissioner, Superintendent & Inspector of Central Excise, Indore and other private person U/s 120-B r/w 420 IPC and Section 13(2) r/w 13(1)(d) of P.C.Act, 1988. It was alle
