"03 August 2011" Archive

CBDT Chairman Releases Dos and Don'ts Manual 2011 for departmental use

Manual of Dos & Don'ts covering various aspects of General Conduct, Financial administration, Tax administration and Vigilance Administration etc prepared by the Vigilance Directorate , was released by Shri Prakash Chandra, Chairman CBDT during the Video Conference on 29.07.2011....

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Posted Under: Income Tax |

RBI seeks Public Comments on Report on Customer Service of Banks

The Reserve Bank of India today placed on its website, the Report of the Committee on Customer Service in Banks and sought comments/feedback from members of the public/all the stakeholders on the Committee’s recommendations. The comments/feedback may, latest by August 27, 2011, be emailed or may be sent by post/courier to the Chief Gene...

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Posted Under: Income Tax |

Lifting Ban on Export of Non-Basmati Rice

The Empowered Group of Ministers (EGOM) has allowed the export of 10 lakh tons of non-basmati rice, subject to a Minimum Export Price(MEP) of USD 400 per Ton, in its meeting held on 11th July, 2011. It was also decided that the export of non-basmati rice would be done by private parties from privately held stocks on purely commercial basi...

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Posted Under: Income Tax |

Incentives for Textile Sectors; Proposal for Scheme for Integrated Textile Parks

The Foreign Trade Policy-2009-14 incorporates several measures of incentives for the export sector including the textiles and clothing viz. Inclusion of 26 new international markets under the Focus Market Scheme; enhancement of incentives available under Focus Market Scheme and Focus Product Scheme; broad basing the coverage of Market Lin...

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Posted Under: Income Tax |

Govt to end gas Subsidy for people with annual income of Rs 6 lakh

The government should end subsidised domestic cooking gas (LPG) for people with income of more than Rs 6 lakh per annum, a Parliamentary Panel has suggested. A 14.2-kg LPG cylinder in Delhi currently costs Rs 395.35. This is Rs 247 short of its market price. If the panel recommendation is accepted, people with more than Rs 6 lakh per annu...

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Posted Under: Income Tax |

SC to hear Vodafone's Rs 11000 crore tax dispute tomorrow

The Supreme Court is likely to start the final hearing on the high profile Rs 11,000 crore tax dispute between telecom major Vodafone and the I-T Department tomorrow-- a development that corporate India has been keenly watching. A three-judge bench headed by Chief Justice S H Kapadia is expected to start hearing the case immediately after...

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Posted Under: Income Tax |

Substitution of term Micro and Small Enterprises in place of SSI in the documents

RBI/2011-12/143 RPCD.SME & NFS. BC. No.14/06.02.31/ 2011-12 03/08/2011

Issued by the Ministry of Small Scale Industries andS.O.563 (E) dated February 27, 2009 issued by Ministry of Commerce and Industry regarding substitution of term 'Micro and Small Enterprises' in place of the term 'Small Scale Industries' are enclosed. Kindly ensure that your internal guidelines / instructions are compliant with these not...

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Minister of State for Finance Releases Nabard-Giz RFIP Synthesis Report on Study of Remittance needs and Opportunities in India

The Union Minister of State for Finance Shri Namo Narain Meena has emphasised on application of technical capabilities of the commercial banks to be leveraged with the outreach capabilities of the Regional Rural Banks (RRBs), Cooperatives and the Small Help Groups (SHGs) so as to serve every nook and corner of the country with money trans...

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Posted Under: Income Tax |

Performance of SEZ in last three years

Land is a State subject. Land for SEZs is procured as per the policy and procedures of the respective State Governments. As per information available in respect of 381 SEZs, 82.3% of land is waste/barren/dry/industrial, 15% of land is single crop and 2.7% of land is double crop. A Statement containing state-wise distribution of land are...

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Posted Under: Income Tax |

Message from the ICSI President July, 2011

The Institute as part of its capacity building initiatives has chalked out action plan for organizing chain of programmes on XBRL through out India, through Regional Councils and Chapters. In this sequence your Institute has organised a nationwide webcast on XBRL on July 11 and July 20, 2011. I request the members to participate in these ...

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Posted Under: Income Tax |

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