"08 September 2011" Archive

Income Tax – Measures taken by government to Tackle Black Money

Income Tax Press Release (06/09/2011)

Government has formulated a five pronged strategy to tackle the menace of black money which is as below: (i) Joining the global crusade against black money, (ii) Creating an appropriate legislative framework,(iii) Setting up institutions for dealing with Illicit Funds,(iv) Developing systems for implementation (new manpower policy); ...

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India to Reduce Tariff Lines under Sensitive List by 20% by Next Month

Anand Sharma Peak Tariff Rates to be 8% for Imports from Pakistan by January 2012 . Shri Anand Sharma, the Union Minister for Commerce, Industry and Textiles, has announced that India will meet its commitment of reducing tariff lines under sensitive list by 20% for all by next month. This will fulfil a critical requirement of the SAFTA ag...

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Posted Under: Income Tax |

No company with Baba Ramdev as Director

The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that as per latest information available, no company with Baba Ramdev as Director is registered in the country. However, 34 companies are registered in the country with Acharya Balkrishna as Director. ...

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Posted Under: Income Tax |

Not may cases pending with MCA related to Appointment of MD, Directors and Managers

The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that it is not a fact that large number of cases under Companies Act, 1956 regarding appointment / re-appointment schedule of Managing Directors or whole time Director / Managers are pending for a long time....

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Posted Under: Income Tax |

CCI investgating cartelization by Synthetic Fiber Manufacturer Companies

The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that an information alleging cartelization by Synthetic Fiber Manufacturer Companies has been received by the Competition Commission of India (CCI). The Commission has directed Director General, CCI to conduct investigation in the sai...

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Posted Under: Income Tax |

Issues in Complain against R-com not related to violation of Companies Act, 1956

The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that complaints were received against M/s. Reliance Communication Limited. The following were the allegations:...

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Posted Under: Income Tax |

Govt formed expert group to study the legislative and regulatory architecture of the Society Registration Act, 1860

The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that An Expert Group under the Chairmanship of Shri.K.N.Chaturvedi has been constituted to study the legislative and regulatory architecture of the Society Registration Act, 1860....

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Posted Under: Income Tax |

1.62 Lakh Companies not filed their Annual Returns and Balance Sheets for 3 consecutive Years or more

The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that the total number of defunct companies, (those that have not filed their Annual Returns and Balance Sheets for the last three consecutive years or more) as per MCA records is 1,62,144....

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Posted Under: Income Tax |

41 Complains alleging non-repayment of deposits by companies in last three Years

The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that 41 complaints alleging non-repayment of deposits were received during the last three years. Prosecutions were filed against M/s. Morepen Laboratories Limited, M/s. Euro Cotspin Limited, M/s. Asian Alloys Limited and M/s. Unique E...

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Posted Under: Income Tax |

During April – August 2011 ,Gross Direct Tax Collections up by 25.89 Percent

Income Tax press release (08/09/2011)

Gross direct tax collections during the first five months of the current fiscal (April - August 2011) were up by 25.89 percent at Rs. 154,360 crore as against Rs. 122,618 crore in the same period last fiscal. While gross collection of corporate taxes was up 29.72 percent (Rs.96,597 crore against Rs. 74,463 crore last year), gross collecti...

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