High food inflation is most likely to weigh on the Reserve Bank, which is widely expected to raise key policy rates by at least 25 basis points in its monetary review due on Tuesday, top bankers said. “Conventional wisdom says that there should be a
Tax liabilities of foreign banks will rise marginally if the Reserve Bank makes it mandatory for them to conduct their operations in the country through wholly-owned subsidiaries (WOS) rather than a branch model, experts said today. “Although the W
The Director General of Foreign Trade (DGFT) has not included ‘prior experience’ as a pre-condition for people seeking cotton export permit to keep the licensing policy simple and transparent. “When we invited applications we asked who wanted to ex
The Institute of Chartered Accountants of India will introduce unique code numbers (UCD) from next month for Chartered Accountants (CAs)to help them check increasing incidents of fraudulent practices, including forged attestations, ICAI President Ama
Liechtenstein has declined help in India’s quest for suspected black money trail to the small but rich European country bordering Switzerland, citing absence of a bilateral treaty for such information exchange. The Indian government is facing intens
Master Blaster Sachin Tendulkar will now endorse the softdrinks giant Coca Cola after the company today announced signing the master blaster as its ‘Happiness Ambassador’. We are extremely pleased to have Sachin on board as the Company’s ‘Happines
The National Technical Research Organisation (NTRO) has warned that individual Income Tax records can be accessed in an unauthorised manner by outsiders via cyber attacks. Through a letter dated January 17, the NTRO alerted the Central Board of Direc
The toppers of Final Examinations held in November, 2010 are from Bangalore, Delhi, Mumbai and Ahmedabad. The details of the top three rank holders on all India basis for Final (old Course) along with the marks secured by them are mentioned at Annexure-A. The details of percentage of candidates passed in the above said examination are placed at Annexure-B.
The Anti-Corruption Bureau of CBI has arrested two Income Tax officials for allegedly accepting a bribe of Rs 4,000 for processing tax refund claims. Senior tax assistant Sudarshan Kale and tax assistant Sunil Gangurde were caught red handed yesterda
Exemption under section 10B-Availability-Return not filed by due date-Proviso to section 10B(1) which provides that no exemption under section 10B shall be allowed if return is not furnished by due date prescribed under section 139(1) is directory and not mandatory in nature. Therefore, in genuine cases exemption under section 10B may be allowed even if the return is not filed by the due date mentioned in section 139(1)
