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Archive: March, 2011

Posts in March, 2011

Taxation of Services (Provided from Outside India and Received in India) Amendment Rules, 2011 – Amendment in rule 3

March 2, 2011 1911 Views 0 comment Print

NOTIFICATION NO. 13/2011 – SERVICE TAX, DATED 1-3-2011. In exercise of the powers conferred by sections 93 and 94 read with section 66A of the Finance Act, 1994 (32 of 1994), the Central Government, hereby makes the following rules further to amend the Taxation of Services (Provided from Outside India and Received in India) Rules, 2006, namely :— 1. (1) These rules may be called the Taxation of Services (Provided from Outside India and Received in India) Amendment Rules, 2011.

Service Tax – Export of Services (Amendment) Rules, 2011 – Amendment in rule 3

March 2, 2011 870 Views 0 comment Print

NOTIFICATION NO. 12/2011 – SERVICE TAX, DATED 1-3-2011. In exercise of the powers conferred by sections 93 and 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the Export of Services Rules, 2005, namely :—

Works contract service – Exemption to works contract provided wholly within a port or other port for construction, repair, alteration and renovation of wharves, quays, docks, etc.

March 2, 2011 2605 Views 0 comment Print

NOTIFICATION NO. 11/2011-SERVICE TAX, DATED 1-3-2011. In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts services provided in relation to the execution of works contract, referred to in sub-clause (zzzza) of clause (105) of section 65 of the Finance Act, when provided wholly within the port or other port, for construction, repair, alteration and renovation of wharves, quays, docks, stages, jetties, piers and railways from the whole of service tax leviable thereon under section 66 of the Finance Act.

Service Tax – Section 65(105)(zzzza) of the Finance Act, 1994 – Works contract service – Exemption to works contract provided wholly within an airport

March 2, 2011 21851 Views 0 comment Print

NOTIFICATION NO. 10/2011 – SERVICE TAX, DATED 1-3-2011.In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts services provided in relation to the execution of works contract,

Service Tax – Section 65(105)(zzn) of the Finance Act, 1994 – Transport of goods by air service – Parcel exemption

March 2, 2011 9507 Views 1 comment Print

NOTIFICATION NO. 9/2011 – SERVICE TAX, DATED 1-3-2011. In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act (hereinafter referred to as the Finance Act), 1994 (32 of 1994), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the taxable services as referred to in sub-clause (zzn) of clause (105) of section 65 of the Finance Act,

2G scam- CBI questions former TRAI chairman

March 2, 2011 780 Views 0 comment Print

Former Telecom Regulatory Authority of India (TRAI) chairman Nripendra Misra was today questioned by the CBI in connection with the 2G spectrum allocation scam. Misra, who was also the Secretary in the Telecom Ministry, had taken over the chairmanship of TRAI from Pradip Baijal in 2006.

Budget 2011- All about the new tax proposals

March 2, 2011 2774 Views 0 comment Print

Senior Citizens should be a happy lot after the Budget. After meeting their long-standing demand of making 60 as the defining age of senior citizens, the finance minister has also introduced a special category — ‘very-senior’ — for citizens over the age of 80, perhaps in tune with the rising life expectancy. The basic exemption limit for this new category will be Rs 5 lakh (Rs 500,000), double than that for senior citizens.

Sibal favours spectrum audit, asks telcos to collaborate

March 2, 2011 726 Views 0 comment Print

Telecom Minister Kapil Sibal] said on Tuesday he is in favour of the Comptroller and Auditor General’s proposal to conduct an audit of the total available spectrum in the country with a focus on how much was allocated to private operators from 2000 onward and at what cost.

Over 2.8 crore bogus ration cards deleted from list

March 2, 2011 2128 Views 0 comment Print

In a nationwide crackdown on bogus ration card holders, over 2.8 crore ineligible ration cards have been deleted from July 2006 till now in different parts of the country, Parliament was informed today. Maximum 59.67 lakh bogus ration cards were deleted in West Bengal during the period, Food and Public Distribution minister K V Thomas said in a written reply to Lok Sabha.

Boards of 25 Central Public Sector Enterprises (CPSEs) do not have Requisite Number of Independent Directors

March 2, 2011 1608 Views 0 comment Print

As per the Clause 49 of the Equity Listing Agreement, all the listed entities including listed Central Public Sector Enterprises (CPSEs) are required to appoint requisite number of Independent Directors on their Boards. Where the Chairman of the Board is a non-executive director, at least one-third of the Board should comprise of Independent Directors and in case he is an executive director, at least half of the Board should comprise of Independent Directors.

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