Ahead of the budget session beginning next week, Finance Minister Pranab Mukherjee will hold consultations with senior party leaders tomorrow at the AICC headquarters in New Delhi. With Assembly elections scheduled in five states including West Benga
It is not necessary that the entire amount of debt had to be taken into account in computing the income of the taxpayer. Even if a part of the debt was considered, it was sufficient compliance of provisions of ITA for allowance of such bad debt as he
Notification No. 10/2011 – Income Tax The approved organization shall maintain separate books of account in respect of the sums received by it for scientific research, reflect therein the amounts used for carrying out research, get such books audited by an accountant as defined in the Explanation to sub-section (2) of section 288 of the said Act and furnish the report of such audit duly signed and verified by such accountant to the Commissioner of Income-tax or the Director of Income-tax having jurisdiction over the case, by the due date of furnishing the return of income under sub-section (1) of section 139 of the said Act; (iv) The approved org
Notification No. 9/2011 – Income Tax It is hereby notified for general information that the organization Sinha Institute of Medical Science & Technology, Kolkata has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), for the Assessment Year 2009-10 onwards in the category of ‘Other Institution’, partly engaged in research activities subject to the following conditions
With consensus still eluding the proposed Goods and Services Tax regime, the Centre may call for another meeting with state finance ministers next month, before introducing the Constitutional Amendment Bill to pave the way for rolling out GST.
Telecom tribunal TDSAT has set aside a DoT directive that asked phone companies to submit their books for CAG audit, saying that it was arbitrary. The TDSAT bench, headed by its chairman Justice S B Sinha, set aside the directive on the grounds that
A contract note is an important document for investors transacting in shares and other listed securities on a recognised stock exchange. A contract note is a legal record of your transaction carried on a stock exchange through a broker.
India has entered into a Tax Information Exchange Agreement (TIEA) with the Bahamas. The Agreement was signed on 11th February 2011 by the High Commissioner of India to Jamaica (concurrently accredited to the Commonwealth of The Bahamas) on behalf of
PRESS RELEASE Ref: — Date: 10-02-2011 Portability of Health Insurance Policies There have been several representations from consumer associations and policyholders for enabling portability of health insurance policies from one insurer to other insurer. Persons shifting from one region to other regions are many times put to disadvantage due to lack of insurers’ office providing […]
Ministry of Corporate Affairs, Government of India (MCA), has on 8 February 2011 issued a Press Note No. 4/2011 of its intention to amend Schedule XIII of the Companies Act 1956 (the Act) relating to managerial remuneration. The amendment will be app
