"03 March 2011" Archive

Budget Impact – Balancing the Young and Old Ones

India in future is going to be a younger India with nearly 70 percent of India being of working age in 2025. Its demographic dividend of a relatively young population as compared to developed nations is an opportunity in the offing. The budget has addressed the higher education and skill development needs by a substantial higher allocatio...

Read More
Posted Under: Finance |

Highlights – Budget 2011- Amendment in Central Excise & Customs

While the Finance Minister has said that his priorities were directed towards making taxes moderate, payment simple and collection of taxes easy for the tax collectors, the changes proposed result in higher indirect tax collection by over Rs. 11000 cores. He admits that there has been a healthy growth in indirect taxes in 2010-11 and as s...

Read More
Posted Under: Finance |

Interocean Shipping (I) (P.) Ltd. Versus Union of India (Delhi High Court) Dated – 03-03-2011 – Service Tax

Inter ocean Shipping (I) (P.) Ltd. Vs Union of India (Delhi High Court)

Interocean Shipping (I) (P.) Ltd. Versus Union of India (Delhi High Court) Dated: 03-03-2011 - Service Tax - Ship broking and other activities - Section 65(105)(zzb)read with 65(19) - Business Auxiliary Services - The said services became taxable by the Finance Act, 2003, whereby sub-section (zzb) to section 65(105) was enacted - The sa...

Read More

Rationalisation of Tax on Income distributed to unit holders dividend distribution tax

Under the existing provisions contained in section 115R(2) of the Income-tax Act, a Mutual Fund is liable to pay additional income-tax on the amount of income distributed to its unit holders. It is proposed to levy additional income-tax at a higher rate of 30 per cent. on income distributed by debt funds to a person other than an individu...

Read More
Posted Under: Finance |

Amends Notification No.4/2006-Central Excise-Effective Rate of Duty on goods of Chapter 26 to Chapter 48

Notification No.19/2011-Central Excise 03/03/2011

ereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 4/2006-Central Excise, dated the 1st March, 2006, published in the Gazette of India, Extraordinary, vide G.S.R. 94 (E) dated the 1st March, 2006 , namely: In the said notification, in the Table...

Read More

Union budget 2011-12- A quick look

FII's can invest directly in Mutual funds - This gains importance as MF industry has been battling volatility and cash crunch. The disinvestment target of Rs.40,000 cr is as expected. The previous highest disinvestment done by the govt was Rs.23,550 cr in 2008-09. Doesn’t surprise me much because given the response Coal India Limited (C...

Read More
Posted Under: Finance |

All banks to have chief information officers soon- RBI

A senior official of the Reserve Bank today said all banks would have to create a position of chief information officers (CIOs) as well as steering committees on information security at the board level at the earliest, as envisaged under its IT Vision 2011-17 released the other day. Reserve Bank executive director G Gopalakrishna, speakin...

Read More
Posted Under: Finance |

New Products under Central Excise Levy – 1.3.2011

The Finance Minister as a move towards GST to be implemented by 2012 took a step in removing the exemption regime by levying duty on 130 items out of 370 where VAT is charged by the States. The items covered are mainly consumer goods. The balance 240 items would be roped in along with the implementation of GST in 2012....

Read More
Posted Under: Finance |

Trademark Dispute- Agarbathi maker can not sell the same under the name similar to a Leading Newspaper- SC

T.V. Venugopal Vs Ushodaya Enterprises Ltd. & Another (Supreme Court of India)

In a trademark battle over the use of the word ‘Eenadu’ between a Karnataka firm selling Agarbathis (incense sticks) and the newspaper group in Andhra Pradesh, the Supreme Court stated last week that allowing to sell Agarbathis with the same name would “definitely create confusion in the minds of the consumers.” ...

Read More

Arbitration and Conciliation Act, 1996 — Petition under Section 11(6) & (9) for appointment of the Arbitrator

Omnia Technologies P. Ltd. Vs. W.M.A. Van Loosbroek (Supreme Court of India)

on the ground that the respondent has committed a violation of the Original Agreement inasmuch as obligations cast upon the respondent under clause 13 of the agreement (supra) have not been discharged by the respondent thereby giving rise to disputes that are in terms of Clause 15 of the original agreement arbitrable — the Supreme Court...

Read More

Search Posts by Date

October 2021
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031