"20 January 2011" Archive

Seizure of unaccounted cash during search and seizure actions

CBDT PRESS NOTE 20/01/2011

In search & seizure actions conducted by the Income Tax department on 18th & 19 th January 2011, unaccounted cash amounting to Rs 44.20 crore was seized. This is the largest ever cash haul by the Income Tax department....

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CA Final and CPT results to be declared on 21st January at 2 PM

The results of the Chartered Accountants Final and Final (New Course) Examinations held in November, 2010 and Common Proficiency Test (CPT) held in December, 2010 are likely to be declared on Friday, the 21st January, 2011 around 2:00 PM and the same...

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Posted Under: Income Tax |

RBI circular on Regulatory Capital Instruments – Step up option

RBI/2010-11/381 DBOD.BP.BC.No.75/21.06.001/2010-11 20/01/2011

In view of the foregoing, it is advised that henceforth, banks should not issue Tier 1 or Tier 2 capital instruments with ‘step-up option’ so that these instruments continue to remain eligible for inclusion in the new definition of regulatory capital. However, such instruments can be issued with only ‘call option’ as per existing ...

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RBI restricts Housing finance exposure of Co-Operative Bank to 5 percent from earlier 10 percent

RBI/2010-11/379 RPCD.CO.RCBD.BC.No. 48/03.03.01/2010-11 20/01/2011

The above limits of credit exposure for housing would be applicable with immediate effect. StCBs and CCBs having exposure in excess of the above limits may initiate steps to bring it down to the revised limits within a period of six months from the date of this circular....

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Minutes of Meeting of Committee on Investor Education & Protection Fund

RBI/2010–11/378 RPCD.CO.RRB.No.47/03.05.33/2010-11 20/01/2011

We advise that in a meeting of ‘Committee on Investors Education and Protection Fund’ held by the Government of India, Ministry of Corporate Affairs, New Delhi, it has, inter-alia, been decided that banks should make ‘investor awareness’ as one of the agenda items in their periodical meetings with their customers at semi urban/rur...

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Regarding Service Tax exemption for Janata Personal Accident Policy

Circular No. 133 /2/2011 – ST 18/01/2011

Circular No. 133 /2/2011 – ST A clarification has been sought as to the scope and meaning of the description namely ‘Janata Personal Accident Policy (JPAP)’ appearing in the Notification No. 3/1994-ST dated 30.06.1994....

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Salaried taxpayers with no other income may get exemption from IT return Filing

Salaried taxpayers with no other income could get a respite from filing tax returns. The income-tax (I-T) department is open to examining a proposal to exempt them from the annual chore. Asked whether the department would think about doing away with ...

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Posted Under: Income Tax |

New President and Vice-President of ICSI for 2011

New President and Vice-President of ICSI for 2011 CS Mr Anil Murarka FCS-3150 CS Mr Nesar Ahmad FCS-3360...

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Posted Under: Income Tax |

Govt tells SC it can probe only 18 accounts out of Information received from LGT bank of 26 Accounts

Germany gave information about 26 accounts held by Indians in LGT Bank, but tax evasion proceedings could be initiated against only 18 resident citizens, the Centre informed the SC on Wednesday. The Centre handed a sealed report containing the name...

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Posted Under: Income Tax |

360 cr found in raids on IAS couple

Owns 25 Flats, Over 10Kg Gold, 400 Acres Of Land Besides Other Investments In ‘bimaru’ Madhya Pradesh, bank lockers of bureaucrats and government officials are bursting with cash and gold. An IAS couple here owns 25 flats and 400 acres of land besi...

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Posted Under: Income Tax |

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