"08 March 2011" Archive

Govt to Provide Equity Support to PSU Banks

Government has decided to provide equity support to public sector banks (PSBs) to enable to maintain Tier I CRAR at 8% and also to those PSBs where Government of India’s holding is less than 58% to raise Government of India holding in these PSBs to 58%. Modalities in this regard are being worked out. This information was given by the Mi...

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Posted Under: Finance |

MCA simplified procedure of company incorporation and establishment of principal place of business in India by Foreign Companies

General Circular No. 6/2011 08/03/2011

with following objects of Reducing the time taken by the Registrar of Companies in Incorporation of Companies and Speeding up and simplifying the process of incorporation and establishment of principal place of business in India by Foreign Companies. Main advantage of the circular is that it aims to reduce Average time taken to incorpora...

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Textiles Ministry seeks rollback of excise duty on branded garments

The Textiles Ministry is seeking rollback of excise duty on branded apparel, following protest from retailers, including Shoppers Stop and Pantaloons , who have gone on strike today protesting the new levy. ...

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Posted Under: Finance |

Service tax on healthcare not to hit common man- CBEC

The government today said the proposal to impose service tax on healthcare will not hurt the common man as only services provided by the centrally AC hospitals with more than 25 beds would attract the new levy. ...

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Posted Under: Finance |

Revenue diversion from non-SEZ areas to SEZs noticed -CBDT

Amidst hue and cry by developers over the Budget proposal to impose MAT on SEZs, Central Board of Direct Taxes today said it has detected revenue diversion from domestic operations to the tax free enclaves. ...

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Posted Under: Finance |

How to Know the Status of Form 24G filed by PAO/DTO

Now you can check online the status of Form 24G filed by Pay and Accounts Office (PAO)/ District Treasury Office (DTO). To view the status we have to follow the following Procedure :-1. Visit the following link :- * Accounts Office Identification Number (AIN) * Provisional Receipt No.(PRN)...

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Posted Under: Finance |

Corrigendum to Notification GSR 112(E) dated 25 Feb, 2011

Notification No. G.S.R. 196(E) 08/03/2011

In the notification of the Government of India Ministry of Corporate Affairs, published in the Gazette of India, vide No. G.S.R. 112(E), dated the 25th February, 2011, in page 2, in line 14, for "in clause 7, the second proviso", read "in rule 7, clause (ii)....

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Not possible to bring Aviation Fuel (ATF) under GST

The Centre today said it is not possible to bring aviation turbine fuel (ATF) under the purview of the proposed Goods and Services Tax, as per the model suggested by the states. "In the model of the GST which has been proposed by the Empowered Committee of State Finance Ministers, it has not been possible to bring aviation turbine fuel un...

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Posted Under: Finance |

Ravi wants reconsideration on air travel service tax

Civil Aviation Minister Vayalar Ravi today said he wants the government to reconsider the budget proposal to hike service tax on air tickets. "I have written a letter to the Finance Minister (Pranab Mukherjee) urging him to reconsider the implementation of service tax on air travel," Ravi told reporters here....

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Black money case- ED detains Hasan Ali, searches Pune home

Stud farm owner Hasan Ali Khan, accused of massive money laundering and tax evasion, was detained by the ED which carried out multi-city searches at his Pune home and his associates' premises cracking the whip to meet tomorrow's Supreme Court deadline. Hot in pursuit of black money trail after the apex court rap on the government, about a...

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Posted Under: Finance |

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