"May, 2011" Archive

Centre Seeks Views of State Governments and Political Parties on Lokpal

Centre has sought the views of State Governments and Political Parties on certain issues related to drafting of Lokpal Bill. The text of the letter written by the Chairman of the Drafting Committee, Shri Pranab Mukherjee is as follows: The issue of setting up of a Lokpal to curb corruption in high places has been under the consideration ...

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Posted Under: Income Tax |

Chidambaram advocates more taxes on luxury items, inheritance levy

Concerned over low tax-GDP ratio, Home Minister P Chidambaram has pitched for higher taxes on luxury products and imposing inheritance tax. Chidambaram, who is a former finance minister, had expressed these views at the full Planning Commission meeting headed by Prime Minister Manmohan Singh last month....

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Posted Under: Income Tax |

ICAI – President's Message – June 2011

Let the faith of people of the world be restored in democracy for good, where the supreme power lies with the citizens who themselves elect people to represent them; democracy needs to be celebrated and kept alive by all possible means. Father of our Nation Mahatma Gandhi agrees to its value and suggests that actions inspired by tolerance...

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Posted Under: Income Tax |

HC asks CCI to provide complete order to NSE by Friday

The Delhi High Court today asked Competition Commission to provide the NSE by friday its complete order including views of members dissenting with the majority ruling that held the bourse guilty of abusing market dominance....

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Posted Under: Income Tax |

Filling up of the vacancies of Indirect Tax Ombudsman – CIRCULAR [F. NO. A. 35017/35/2011-AD.II], DATED 30-05-2011

CIRCULAR [F. NO. A. 35017/35/2011-AD.II] (30/05/2011)

CIRCULAR [F. NO. A. 35017/35/2011-AD.II], DATED 30-5-2011 - I am directed to state that seven (7) posts of Indirect Tax Ombudsman at 7 stations, viz., New Delhi, Mumbai, Chennai, Kolkata, Bengaluru, Ahmedabad and Lucknow (in the HAG + pay scale of Rs. 75,500-80,000 per month) have been created vide Sanction Order No. 92/2011, dated 5-5-20...

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Circular on selection for the posts of Indirect Tax Ombudsman – CIRCULAR [D.O. F.NO.A-12026/5/2011-AD.I], DATED 25-05-2011

CIRCULAR [D.O. F.NO.A-12026/5/2011-AD.I] (25/05/2011)

CIRCULAR [D.O. F.NO.A-12026/5/2011-AD.I], DATED 25-5-2011 You are aware that the Government of India has created 7 posts of Indirect Tax Ombudsman at 7 stations, viz., New Delhi, Mumbai, Chennai, Kolkata, Bengaluru, Ahmedabad and Lucknow under the Indirect Tax Ombudsman Guidelines, 2011. Selection for the posts of Indirect Tax Ombudsman i...

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Indirect Tax Ombudsman Guidelines, 2011

The Guidelines are introduced with the objective of enabling the resolution of complaints relating to public grievances against the Customs, Central Excise and Service Tax Department and to facilitate the satisfaction or settlement of such complaints....

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Posted Under: Income Tax |

DTAA with Mozambique

Notification No. 30/2011 - Income Tax (31/05/2011)

Notification No. 30/2011 - Income Tax FT&TR-II [F.NO.501/152/2000-FT&TR-II], dated 31-5-2011 - Whereas the annexed Agreement between the Government of the Republic of India and the Government of the Republic of Mozambique for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income signed in In...

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RBI – Findings of Forensic Scrutiny – Guidelines for prevention of frauds

RBI/2010-11/555 DBS. CO.FrMC.BC.No. 10/23.04.001/2010-11 (31/05/2011)

DBS. CO.FrMC.BC.No. 10/23.04.001/2010-11 - Based on the findings of the scrutinies, further study has been made across banks to ascertain the policy and operating framework in place for detection, reporting and monitoring of frauds as also the surveillance/ oversight process in operation so as to prevent the perpetration of frauds. The st...

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Revision in the powers of adjudication of the officers of Customs – Circular No.24/2011-Customs – Dated 31st May, 2011

Circular No. 24/2011-Custom Duty (31/05/2011)

Circular No.24/2011-Customs References have been received from the field formations for specifying the ‘proper officer’ for issuance of show cause Notice and adjudication of cases of export under the drawback and Export Promotion Schemes. Further, as per Board’s Circular No.23/2009-Customs dated 1.09.2009, whereas the monetary limi...

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