The uncertainty in the global markets due to recent developments in United States of America (USA) and Eurozone has had some impact on major markets across the globe, including India. However, Indian markets were less affected as compared to some of the major Asian and European markets. Fluctuations in markets are not unusual.
Ridiculing the disclosure of assets by union cabinet ministers, the opposition Bharatiya Janata Party (BJP) in Goa said agriculture minister Sharad Pawar must have ‘forgotten to add a few zeroes’. Pawar disclosed his assets to be worth Rs 12 crore.
Vide Order No 152 of 2011 dated 06.09.2011 the CBDT has transferred and posted several Commissioners & Directors of Income-tax with immediate effect
The Cost Accounting Standards Board Secretariat has prepared a revised Guidance Note on Cost Accounting Standard -4 (CAS-4). This note has been exposed for the public comments. The proposed Exposure Draft shall be modified in light of comments received before being issued in the final form. I request all of you to please submit your views / comments / suggestions on the same latest by October 10, 2011 to the CASB Secretariat. I also request the members to send their views on the Generally Accepted Cost Accounting Principles, which has been already exposed for public comments.
Notification No. 49/2011 – Income Tax Section 10(45) of the Income-tax Act, 1961 – Exemptions – Union Public Service Commission, allowance & perquisite paid to Chairman/retired Chairman or any other member/retired member of – Notified allowance & perquisite
General Circular No. 63/2011,The Ministry has issued General Circular No. 33/2011 dated 01.06.2011 wherein it was informed that in order to ensure corporate governance and proper compliances of provisions of Companies Act, 1956, no request, whether oral or in writing or through e-forms, for recording any event based information / changes shall be accepted by the Registrar of Companies from such defaulting companies, unless they file their updated Balance Sheet and Profit & Loss Accounts and Annual Return with the Registrar of Companies.
The Committee on Comprehensive Review of National Small Savings Fund (NSSF) headed by Deputy Governor, RBI has recommended revision of certain provisions of PPF Scheme, 1968 and benchmarking of interest rates on various small savings schemes with the secondary market yields on Central Government securities of comparable maturities with suitable spread.
After going through the decision of the Supreme Court in the case of Commissioner of Income Tax vs. Alom Extrusion Ltd., we find that the Supreme Court in the aforesaid case has held that the amendment to the second proviso to the Sec 43(B) of the Income Tax Act
Notification No.86/2011-Customs, Whereas, on the basis of the Final Findings (Mid-Term Review) Notification No. 15/16/2009- DGAD, dated 8th June, 2011 of the designated authority, in exercise of the powers conferred by sub-sections (1) and (5) of section 9A of the said Customs Tariff Act, read with rules 18 and 23 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995
New Delhi: The Union cabinet on Monday cleared the politically sensitive and critical proposed land acquisition Bill, a little over a month after it was unveiled to the public by the ministry of rural development on 29 July, after relaxing key provisions relating to compensation and allowing conditional acquisition of multi-crop land.
