The Delhi government on Monday decided to impose a blanket ban on the manufacture, storage and use of plastic bags in the city. The Delhi Cabinet presided by Chief Minister Sheila Dikshit took the decision and directed all the concerned authorities like MCD, NDMC and Environment Department to implement the decision.
The world’s major central banks are about to break ranks. Since the financial crisis entered its worst phase in late 2008, monetary policy has moved in the same direction across all advanced economies. On Thursday, the European Central Bank looks all but certain to become the first to shift interest rates higher as it tries to tame rising inflation. The ECB, the Bank of Japan and the Bank of England all conclude policy-setting meetings that day, and they will probably reach three different decisions.
Real estate firm Amrapali today said it will gift villas worth a total of Rs 9 crore to the entire World Cup winning Indian cricket team at its township in Noida extension. The Indian captain, Mahendra Singh Dhoni, is at present the brand ambassador of Amrapali.
The government today said indirect tax collections for FY2010-11 have exceeded the revised estimate of Rs 3.34 lakh crore for the fiscal on the back of strong economic activities and the partial withdrawal of fiscal stimulus measures. According to Central Board of Excise and Customs (CBEC) Chairman S Dutt Majumder, the Finance Ministry expects at least Rs 7,000 crore more than the revised estimate for the last fiscal.
The Department of Information Technology (DIT) has published a draft policy on mobile governance that aims to enable government departments to provide services, including payment of utility bills and filing of tax returns from mobile phones. A platform called Mobile Service Delivery Gateway (MSDG) will be set up, on which all ministries and departments will be able to start their services, according to the document posted on the department’s website for public comments.
The President of India has sanctioned the constitution of a Committee with the following composition to review the role, functioning and structure of the Central Economic Intelligence Bureau (CEIB) in the changed economic scenario: i. Shri S. S. Khan Retired Member, Central Board of Direct Taxes (CBDT) ii. Ms Vijay Lakshmi Sharma Member, Central Board of Excise and Customs (CBEC) iii. Dr. Kewal Ram, Senior Economic Advisor Department. of Consumer Affairs iv. Deputy Director General (CEIB) Member (Secretary) to the Committee
RBI/2010-11/460 – A.P. (DIR Series) Circular No. 48 – April 05, 2011 – It has come to our notice that in certain cases where the payment for the tickets are made by the residents using credit /debit card, Card Companies have been providing arrangements to the foreign airlines operating in India to select the country and currency of their choice, in respect of transactions arising from the sale of the air tickets in India in Indian Rupees (INR). In such transactions, the overseas bank as the acquiring bank receives the funds from Card Issuing Company in its Vostro account maintained with an Authorised Dealer bank in India or in its foreign currency account maintained abroad and makes the payment in foreign currency overseas to the foreign airline.
With a view to preventing NBFCs from being used, intentionally or unintentionally, by criminal elements for money laundering or terrorist financing activities, Reserve Bank of India has issued guidelines on Know Your Customer (KYC) norms/Anti-Money Laundering (AML) standards/ Prevention of Money Laundering Act, 2002 that are consolidated in the Master Circular DNBS (PD) CC No 184/03.10.42 / 2010-11 dated July 01, 2010.
Centralized Processing Center (CPC), Bangalore has been actively processing of returns for AY 2010-11. As on 01/4/2011 it has processed over 44.7 lakh e-filed returns of AY 2010-11 in all categories of ITRs including Corporate Returns and generated refunds in over 15.45 lakh cases. The Income Tax Department has now extended the last date for sending ITR Vs for AY 2010-11 to 31st July, 2011 or 120 days whichever is later.
The Central Bureau of Investigation has registered a case against seven officials of DDA & CPWD and one Delhi-based private firm on the allegations of conspiracy, cheating and misuse of official position by the accused to cause undue benefit to the private firm. The firm has provided and laid Synthetic Outdoor Flat Lawn Bowl Greens for Commonwealth Games- 2010 at New Delhi in which the accused officials of CPWD and DDA allegedly inflated the cost of the contract from the estimate of Rs.6 crores (approx.) to Rs.9.88 crores (approx.) by including allegedly false amounts against its cost, transportation, etc.
