"19 May 2011" Archive - Page 2

DEPB scheme to end on June 30 – Mitra

Rejecting exporters' repeated pleas, the Finance Ministry today said the popular DEPB tax rebate scheme will come to an end from June 30, saving revenue for the government. ...

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Posted Under: Finance |

Rupee my depreciate upto 20 Percent in next two years

According to a report by financial and business reserach firm Evalueserve, there will be pressure on the Rupee unless steps are taken to fix certain structural issues like high current account deficit and dwindling investments.The Indian Rupee may depreciate by around 20 per cent during next two years on account of dip in confidence about...

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Posted Under: Finance |

Exchange 25 paise coins before June 30

Reserve Bank on Wednesday asked public to exchange 25 paise coins and those with lower denominations with banks before June 30, the day from which they would be demonetised or cease to be a legal tender for payment. ...

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Posted Under: Finance |

No immunity to IMF chief, says US

The managing director of International Monetary Fund Dominique Strauss-Kahn, who has been arrested in New York on alleged rape charges, does not enjoy any diplomatic immunity, the US has said. Simultaneously, the White House said it has full faith in the capabilities of IMF to continue with the important role it is playing, despite the s...

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Posted Under: Finance |

IMF chief jailed without bail in NY hotel-sex case

Haggard and unshaven after a weekend in jail, the chief of the IMF was denied release on bail Monday on charges of trying to rape a hotel maid as allegations of other, similar attacks by Dominique Strauss-Kahn began to emerge. ...

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Posted Under: Finance |

IASB flays India for postponing over IFRS

The International Accounting Standards Board (IASB) on Wednesday flayed India's dilly-dallying on implementing global accounting norms IFRS and said that it is undermining the country's global standing. New Delhi needs to curb its anxiety to be different and stop mongering about the many unsubstantiated differences and instead should get ...

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Posted Under: Finance |

Trade Mark Case – Delhi HC dismisses appeal of Champagne Moet & Chandon

Champagne Moet And Chandon Vs Union Of India & Ors (Delhi High Court)

The Delhi high court has dismissed the writ petition of French company Champagne Moet & Chandon objecting to the order of the Intellectual Property Appellate Board dismissing its appeal against an order of the Deputy Registrar of Trademarks in a trade mark case. The company is a well-known manufacture of wines which it is selling under th...

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Clarification on Service Tax Refund to SEZ – Circular No. 142/11/2011-ST

Circular No.142/11/2011 - ST 18/05/2011

Circular No.142/11/2011 - ST , Dated - 18th May 2011 In the notification, there is no difference in treatment of service tax paid under section 66 and section 66A of Finance Act, 1994. Where refund arises, Table – A, in Form A-2 can be used for making a refund claim....

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Additions on the basis of Cash Credits under Section 68 of the Income Tax Act 1961

According to section 68 of Income Tax Act 1961, where any sum is found credited in the books of an assessee maintained for any previous year, and the assessee offers no explanation about the nature and source of the same or the explanation offered by him is not satisfactory in the opinion of A.O., the sum so credited may be charged to inc...

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Posted Under: Finance |

Taxability of Legal Services

Finance Act, 2010 has expanded the scope of service tax of legal consultancy services w.e.f. 1st May, 2011 . It may be noted that representational services provided to individuals will continue to be exempt form levy of service tax. Also services provided by individuals to other individual shall remain outside the scope of taxable service...

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Posted Under: Finance |

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