"22 March 2011" Archive

CBDT chief for quick payment of IT refunds

Despite repeated appeals made to all the members of the income tax family, & despite the hard work put in by most of them, processing of refund cases is depressingly behind schedule. At the moment around 1.35 lac Returns are processed every day, out of which only 26% are refund cases. CBDT is conscious of the manpower constraints as also...

Read More
Posted Under: Income Tax |

Finance Minister’s Reply to Discussion on Finance Bill 2011-12 in Lok Sabha

In my proposals for the Direct Taxes, for the year 2011-12, I had proposed to provide lower tax rate of 15 per cent on dividends received by Indian companies from foreign subsidiary companies in which the Indian company holds more than 50 per cent share capital. Several representations have been made requesting further relaxation in the ...

Read More
Posted Under: Income Tax |

Basic Custom Duty Reduced from 30% to 5% on Raw Silk AD Valorem

The Union Finance Minister also announced the basic reduction of custom duty on raw silk (not thrown) from 30 per cent to 5 per cent ad valorem. This was done to augment domestic availability for weavers, both in the handloom and the power loom segments, Shri Mukherjee added. The Finance Minister said that a number of representations supp...

Read More
Posted Under: Income Tax |

ED to summon Kalmadi, others for violation of forex rules

The Enforcement Directorate is likely to summon sacked CWG Organising Committee Chairman Suresh Kalmadi and some other officials for alleged violations of forex rules during last year''s Commonwealth Games. According to sources, the ED will issue show cause notices to Kalmadi and the others to ascertain their "exact" roles in financial de...

Read More
Posted Under: Income Tax |

Finance Bill, 2011 – As Introduced in Lok Sabha

LIST NO.1- LOK SABHA FINANCE BILL, 2011 (As Introduced in Lok Sabha) Notice of Amendments Dated: March 21, 2011. Amendment of section 40A- insert ' 7A In section 40A of the Income tax Act, in sub-section (9), after the words, brackets and figures under clause (iv), the words, brackets, figures and letter or clause (iva) shall be inserted...

Read More
Posted Under: Income Tax |

Govt approves 6 per cent hike in dearness allowance

In a bid to provide relief from high inflation, the government today increased dearness allowance (DA) by 6 per cent to 51 per cent, benefiting over 50 lakh central government employees and 38 lakh pensioners....

Read More
Posted Under: Income Tax |

FM announces relief for readymade garment sector

Under the revised norms, 10% excise would be levied on 45% of the tariff value of retail price on branded readymade garments as against 60% proposed in the Budget. Finance Minister Pranab Mukherjee on Tuesday eased some of the pressure on the readymade garment sector by increasing the abatement available for levy of taxes on retail price ...

Read More
Posted Under: Income Tax |

GST -Govt moves ahead, introduces Bill in Lok Sabha

The government today introduced a Constitution Amendment Bill in the Lok Sabha with a view to create a common market for goods and services and replace the existing indirect taxation regime with a uniform Goods and Services Tax (GST) system....

Read More
Posted Under: Income Tax |

FM withdraws proposal for service tax on AC Hospitals and Diagonistic services

Bowing to demand from all quarters, Finance Minister Pranab Mukherjee today announced withdrawal of the proposed 5 per cent service tax on airconditioned hospitals with more than 25 beds and on diagonistic services....

Read More
Posted Under: Income Tax |

Establishment of Connectivity with both depositories NSDL and CDSL – Companies eligible for shifting from Trade for Trade Settlement (TFTS) to normal Rolling Settlement – December 2010 & January 2011

Circular No. CIR/MRD/DP/03/2011 22/03/2001

The stock exchanges may consider shifting the trading in these securities to normal Rolling Settlement subject to the following: a) At least 50% of other than promoter holdings as per clause 35 of Listing Agreement are in dematerialized mode before shifting the trading in the securities of the company from TFTS to normal Rolling Settlem...

Read More

Search Posts by Date

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