"08 August 2011" Archive

Fm confident of Applicability of Direct Tax Code from 1st April 2012

Union Finance Minister has said that there would be no difficulty to bring Direct Tax Code, DTC into operation from 1st of April next year. Mr. Pranab Mukherjee expressed hope that the Parliamentary Standing Committee will submit its report by Winter Session of Parliament. Speaking at a function in New Delhi, the minister said, since the ...

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Posted Under: Income Tax |

Companies Bill 2011 under finalization and will enable shareholders to file ‘class action suits’ in case of fraud

The Minister of State in the Ministry of Corporate Affairs today informed the Rajya Sabha that the Companies Bill 2011 is under finalization based on recommendations of the Parliamentary Standing Committee on Finance and inputs received from all relevant interest groups. ...

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Posted Under: Income Tax |

Govt taking action against companies misusing IPO money

Replying to a written question the Minister said where any company is found violating the provisions of the Sections 62, 63, 68 and 628 of the Companies Act, 1956, prosecutions are filed against such companies and their officers in default. In case of non-availability of the companies and their directors, FIRs are filed. If circumstances ...

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Posted Under: Income Tax |

Foreign Companies – 3112 companies incorporated outside India are having place of business in India but none in Bihar

The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Rajya Sabha that As per latest information available, 3112 companies incorporated outside India and having place of business in India have registered their documents under Section 592 of the Companies Act, 1956. Out of this, no company is opera...

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Posted Under: Income Tax |

No proposal to close the inoperative Employees Provident Fund accounts

There is no such proposal to close the inoperative Employees Provident Fund accounts. However, from 1st April, 2011, interest is not being credited to the account of a member from the date on which it has become inoperative account. ...

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Posted Under: Income Tax |

126102 Trade mark Disputes are under opposition and pending and 8183 files are missing

Pending Trademark Disputes The number of trademark dispute applications/files, which are under opposition and pending in the various offices of the Trade Marks Registry, is as under:-...

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Posted Under: Income Tax |

FM – Our Economy can Address Concern Out of Recent Delevements in USA & Eurozone

The Union Finance Minister Shri Pranab Mukherjee said that the recent developments in the US and Eurozone have injected certain uncertainty in global markets. The Finance Minister said that these developments could have some impact on our economy as well. But Shri Mukherjee assured that India’s growth story is intact and its fundamental...

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Posted Under: Income Tax |

Recommendations of Supreme Court about Tribunals

The Government has informed the Rajya Sabha that it is seized of the matter arising out of the judgement of the Supreme Court delivered on 11.05.2010 in the Civil Appeal No. 3067 of 2004 (Union of India Vs. R. Gandhi ) wherein the Court has affirmed its observations made in L. Chandra Kumar’s case (1977) 3 SCC 61 that uniformity in admi...

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Posted Under: Income Tax |

ICAI issues clarification on filling of Roll Number in IPCE and CA Final Examination Form

Integrated Professional Competence Examination (IPCE)/Final examination- November 2011 Application Form - IPCE/Final examination application forms for November 2011 examination provide for filling in passing details of PEE II/ PCE/IPCE examinations. Such details include the date/month/year and roll number of the earlier examinations passe...

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Posted Under: Income Tax |

CA Final November 2011 Examination Application Form – Clarification on error

Final examination- November 2011 Application Form - It is seen that Point 1.2(iv) of the eligibility criteria on Page no 1 of the Final examination form for November 2011 contains an error which has crept in inadvertently, through oversight...

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Posted Under: Income Tax |

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