(1) These rules may be called the Companies (Central Government’s) General Rules and Forms (Amendment) Rules, 2011. (2) They shall come into force with effect from 24th July, 2011.
LETTER [F. NO. 137/132/2010 – SERVICE TAX], DATED 11-5-2011 – Representations have been received seeking clarification regarding leviability of service tax on the Flying Training Institutes providing training for obtaining Commercial Pilot Licence (CPL) and on Aircraft Engineering Institutes for obtaining Basic Aircraft Maintenance Engineer Licence (BAMEL). CPL and BAMEL are granted by Directorate General of Civil Aviation after conducting required examinations. These institutes have sought to cover-their activity under the exemption clause provided in the definition of “commercial training or coaching centre”, as laid down in section 65(27) of the Finance Act, 1994, as it stood prior to the amendment in Budget of 2011. As per this definition, commercial training or coaching centre ‘does not include pre-school coaching and training centre or any institute or establishment which issues any certificate or diploma or degree or any educational qualification recognised by law for the time being in force. Their contention is that the certificates issued by them are recognised by DGCA and also the course conducted by them are as per the provisions of The Indian Aircraft Act, 1934, the Indian Aircraft Rules, 1937 and are in accordance with Civil Aviation Requirements.
The Central Board of Direct Taxes (CBDT) is believed to have turned down the request of Mahindra Satyam to fully adjust taxes paid by its erstwhile owner Ramalinga Raju on fictitious income. Tech Mahindra had acquired Satyam Computer, after a multi-crore accounting fraud in the company came to light in January 2009. After acquisition, the company was re-branded as Mahindra Satyam.
The Ministry of Finance has decided to extend the terms of reference of the Task force which was constituted under the Chairmanship of Shri Nandan Nilekani, Chairman, Unique Identification Authority of India (UIDAI) to recommend and implement a solution for direct transfer of subsidies on Kerosene, LPG and Fertilizer to the intended beneficiaries. A Memorandum to this effect was issued by the Department of Expenditure, Ministry of Finance today.
The Central Bureau of Investigation has arrested an Inspector of Central Excise, Ernakulam(Kerala) for demanding and accepting a bribe of Rs.15,000/- from the complainant. A case was registered against the Inspector of Central Excise U/s 7 of P.C.Act, 1988 on the basis of a complaint received from the complainant.
Shri Salman Khursheed assumed charge of office as Minister of Law & Justice today. Speaking on the occasion, the Minister said that his priority would be to continue with the important work and reforms being done by his predecessor.
The results of the Chartered Accountants Final Examination held in May, 2011 and Common Proficiency Test (CPT) held in June, 2011 are likely to be declared on Tuesday, the 19th July, 2011 around 2:00 PM and the same as well as the merit list (candidates securing a minimum of 55% and above marks and upto the maximum of 50th Rank in the case of Final Examination and candidates securing a minimum of 60% and above marks and upto the maximum of 10th Rank in the case of Common Proficiency Test and in accordance with the decision of the Examination Committee) on all India basis will be available on the following website:
The ICAI today organized a conclave as a drive to provide an interface between various user groups in the emerging global economic scenario and considering the developing relationship that India has with its trading partners. The Conclave witnessed participation of Trade Officials from 37 Foreign Missions/Embassies situated in India .
The result of the Information Systems Audit [ISA] Assessment Test held on 18th June, 2011 is likely to be declared tentatively on 19th July, 2011 around 2.00 PM at the Institute’s office at New Delhi.
Corporate Affairs Minister M. Veerappa Moily took charge of his new portfolio here early Wednesday and said the passage of a new bill to replace the 55-year-old Companies Act and issues of corporate governance were his top priorities. Moily also brushed aside suggestions that he was unhappy with the way he was treated by Prime Minister Manmohan Singh and Congress president Sonia Gandhi and shifted out of the ministry of law and justice — a portfolio he was rather confident of retaining.
