"July, 2011" Archive - Page 4

Income arising to foreign company by way of fees for technical services – Notified foreign company – EADS Deutschland GmbH, Germany notified u/s 10(6C) of The Income Tax Act

Notification No. 40/2011 - Income Tax (29/07/2011)

Notification No. 40/2011 - Income Tax In exercise of the powers conferred by clause (6C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government herby notifies that any income arising to M/s. EADS Deutschland GmbH Worthstrable 85,89077 Ulm Germany by way of fees for technical services received in pursuance of the ag...

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Sebi approves uniform customer identification process for investors in different segments

Capital market regulator Sebi on Thursday approved a uniform customer identification process for investors in different segments, and also decided to accept Aadhaar or UID as one of the eligible documents for fulfilling the KYC norms. ...

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Posted Under: Income Tax |

CBI arrests a DGM of NBCC in a bribery case

The Central Bureau of Investigation has arrested a Deputy GM-cum-Project Manager, National Building Construction Corporation, Khagaria (Bihar) for demanding and accepting a bribe of Rs.1.25 lakhs from the complainant....

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Posted Under: Income Tax |

Amends Notification No. 36/2001 – Customs (N.T.), dated, the 3rd August, 2001 vide Notification No. 54/2011 – Customs (N. T.)

Notification No. 54/2011-Customs (N.T.) (29/07/2011)

Notification No. 54/2011 - Customs (N. T.) the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Cus (N. T.), dated, the 3rd August 2001, ...

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Announcements – Amendment in Council General Guidelines , 2008

All the members of Institute of Chartered Accountants of India (ICAI) are hereby informed that in terms of the Council decision taken at its 306th Meeting held on 7th - 8th June, 2011, the Chapter-XII (Minimum Audit Fee in respect of Audit) of the Council General Guidelines, 2008 appended to the ICAI publication titled “ The Chartered A...

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Posted Under: Income Tax |

ICAI Announces Definition of Relative in Chapter-IV of the Council General Guidelines, 2008

All the members of the Institute of Chartered Accountants of India (ICAI) are hereby informed that in terms of its decision taken at the 299th Meeting of the Council held on 27th – 28th October, 2010, it has been decided that the term 'relative' for the purpose of Chapter-IV of Council General Guidelines, 2008 (Opinion on Financial Stat...

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Posted Under: Income Tax |

SEBI – Allocation of Government debt long term limits to FIIs – Circular No. CIR/IMD/FIIC/11/2011

Circular No. CIR/IMD/FIIC/11/2011 (29/07/2011)

CIR/IMD/FIIC/11/2011 Based on the assessment of the allocation and the utilization of the limits to FIIs for investments in debt, it has been decided to allocate the unutilized limits in Government debt long term in the following manner:- 2. Allocation through bidding process: The bidding for these limits shall be done on the BSE from...

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Regarding DPC for promotion to the grade of Chief Commissioner of Income Tax (CCIT) in the CBDT, Department of Revenue

F.No.A-32011/1/2011-Ad.VI (29/07/2011)

I am directed to say that officers as per the enclosed lists are being considered for promotion to the grade of Chief Commissioner of Income Tax, CBDT. You are therefore requested to kindly obtain the options for posting, if any, from the concerned officers on their promotion to the grade of CCIT and to forward the same to Database Cell b...

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Comments, views and suggestions solicited on draft ‘Customs (Provisional Duty Assessment) Amendment Regulations, 2011’ latest by 13th August, 2011

F.No.450/5/2011-Dir (Cus) (29/07/2011)

Conditions for allowing provisional assessment. — Where an importer or an exporter, as the case may be, is unable to make self-assessment and makes a request in writing to the proper officer for provisional assessment or the proper officer on account of any of the grounds specified in sub-section (1) of section 18 of the Customs Act, 1...

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Thin Capitalization Rules- Debt to Equity to Tax can no longer be tossed

Companies borrowing large amount of loans enjoys tax deduction on interest paid thereby on such loans. But companies may no longer be able to enjoy this huge deduction on their taxable profit as the government is planning to implement Thin Capitalization Rule to avoid such tax evasion. ...

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Posted Under: Income Tax |

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