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Archive: 17 February 2011

Posts in 17 February 2011

Live Course on How to Reply to GST Notices & SCN & to Fake ITC Notices?

April 29, 2024 7446 Views 0 comment Print

Join our live course to learn expert strategies for replying to GST notices, SCNs, and fake ITC notices. Understand litigation nuances, evidence insights, and practical tips for effective responses. Register now!

Join Live Webinar and get Book on Section 43B(h)

April 29, 2024 5142 Views 1 comment Print

Live Webinar with Book on Section 43B(h) (Financial Fitness) on 10th May 2024, 6:00 pm to 8:00 pm. CA Manoj Lamba will break down intricacies of Section 43B(h)

Highlights of Comprehensive Economic Partnership Agreement between India and Japan

February 17, 2011 654 Views 0 comment Print

In line with similar agreements earlier with Singapore and South Korea, India signed a two-way Comprehensive Economic Partnership Agreement (‘CEPA’ or ‘the Agreement’) with Japan on 16 February 2011. CEPA would provide a framework for enhanced cooperation between the two countries and is aimed to facilitate trade in goods and services and increase investment opportunities, besides protecting intellectual property rights. The Agreement is likely to be implemented from 1 April 2011.

Notification No. 11/2011-Customs Dated: 17/02/2011

February 17, 2011 310 Views 0 comment Print

Now, therefore, in exercise of the powers conferred by sub-sections (1) and (5) of section 9A of the Customs Tariff Act and in pursuance of rule 23 of the said rules, the Central Government hereby makes the following amendment in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 143/2009-Customs, dated the 22nd December,2009, published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i) vide number G.S.R.918(E), dated the 22nd December,2009, namely: –

Allowability of depreciation on Assets forming part of Block of Assets if the same was not used during the year

February 17, 2011 1154 Views 0 comment Print

The Assessee had a unit at Bhopal which was not functioning since the assessment year 1997-98. For the assessment year 1998-99, the assessee claimed depreciation in respect of closed unit at Bhopal on the ground that depreciation would be allowable s

CPC Bangalore begun processing of returns for AY 2010-11

February 17, 2011 1511 Views 0 comment Print

As on 11/2/2011 it has processed over 34.1 lakh e-filed returns of AY 2010-11 in all categories of ITRs including Corporate Returns and generated refunds in over 8.6 lakh cases. The Income Tax Department has now extended the last date for sending ITR

Life policies- Insurers seek separate exemption limit

February 17, 2011 258 Views 0 comment Print

The insurance industry wants the government to create a separate tax exemption limit of Rs 50,000 for life insurance premium in the forthcoming Budget to encourage more individuals to buy such policies.

EPFO says no to investment in equity in absence of guarantee

February 17, 2011 192 Views 0 comment Print

The retirment fund manager EPFO trustees today decided not to invest a portion of Rs 5,00,000 crore funds in the stock market in view of Finance Ministry’s refusal to provide any guarantee on returns and safety of such investments. “We don’t want t

Don't fall prey to bogus prize money offers- RBI warns public

February 17, 2011 222 Views 0 comment Print

The Reserve Bank today warned the public to not fall prey to fictitious offers of large prize money through e-mails, letters and other electronic modes of communications on payment of service charges. “Such offers (of large prize money from abroad)

India needs corporate debt market to develop infra- PM

February 17, 2011 252 Views 0 comment Print

Prime Minister Manmohan Singh on Wednesday said India needs to develop a corporate debt market to meet the projected investment of $1 trillion required to sustain the country’s economic growth rate in the 12th Five-Year Plan (2012-2017). A corporate

2G scam- CBI questions Anil Ambani on dual tech, role in Swan Telecom

February 17, 2011 207 Views 0 comment Print

The CBI today questioned ADAG chairman Anil Ambani amid allegations that his group received favours from former Telecom Minister A Raja in getting dual technology and a role for Reliance Telecom in promoting Swan Telecom. Ambani, 51, arrived at the

Budget to give clearer picture on economic reforms-Dr Singh

February 17, 2011 189 Views 0 comment Print

Under attack for high food prices and slow reforms, Prime Minister Manmohan Singh today said the UPA has not given up its economic agenda and promised clear measures in the upcoming Budget. Exuding confidence that inflation rate should be “no more th

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