Notification No. 1035/2011 – Income Tax The Ministry of Environment and Forest (MoEF) has for the first time notified e-waste management rules. The e-waste (management and handling) Rules, 2011 would recognise the producers’ liability for recycling and reducing e-waste in the country. The rules will come into effect from May 1, 2012.
We have audited the attached Balance Sheet of……………….(name of the Company), as at 31st March, 2XXX and also the Profit and Loss Account for the year ended on that date annexed thereto. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audit.
Tamil Nadu chief minister M Karunanidhi’s daughter Kanimozhi was today questioned by Income Tax authorities for about 90 minutes over the Rs 200 crore transaction from Shahid Balwa-owned DB Realty to Kalaignar TV, in which she holds a minority stake. The 43-year-old MP appeared after summons were issued by the department, as a Delhi court probing the 2G spectrum allocation exempted her from personal experience.
Delhi ITAT in the case of Sony India Pvt. Ltd. v. ACIT [I.T.A. Nos. 4008, 4114 & 4994(Del)/2010] held that deduction in respect of expenses incurred pursuant to a Voluntary Retirement Scheme can be claimed under section 35DDA of the Income-tax Act, 1961 even if the scheme is not in accordance with the guidelines prescribed under section10 (10C) of the Act read with Rule 2BA of the Income-tax Rules, 1962.
The Finance Ministry will take up 42 foreign direct investment (FDI) proposals, including that of BNP Paribas , Tata Steel and PTC India Financial Services, next week. The Foreign Investment Promotion Board (FIPB) headed by Economic Affairs Secretary R Gopalan is scheduled to meet on May 20 here.
Union Finance Minister Shri Pranab Mukherjee said while the current trend in food inflation is welcome and we hope to see further moderation in food inflation in the coming weeks. He said that however, there are concerns on the price momentum in non-food articles. Shri Mukherjee said that sustained high non-food primary prices are creating cost-push inflationary conditions in the manufacturing sector. Thus, even though food inflation is declining, the concern on higher core inflation remains, the Minister added. Union Finance Minister Shri Pranab Mukherjee said that the recent monetary policy announcements should help in addressing these concerns.
Please refer to SEBI Circular No. CIR/IMD/FIIC/1/201 1 dated January 17, 2011 related to the new reporting format of ODIs/PNs activity. Subsequently, SEBI received representations from a number of FIIs seeking various clarifications on the new reporting format. While these clarifications sought by the FIIs are being addressed by SEBI, it has been decided to defer the implementation of the new reporting format.
The International Telecommunication Union (ITU), the leading United Nations agency for Information and Communication Technology, is marking its 146th anniversary of establishment on 17 May this year by recognizing eminent personalities who have made a significant contribution in using ICT for social development to unleash the digital revolution.
India’s exports have registered a growth of 34.4% during April 2011, at US $ 23.9 billion. Stating this at a press interaction here today, Shri Rahul Khullar, Commerce Secretary, informed that during the interaction, with press, India’s imports in April 2011 were US $ 32.8 billion, which is up by 14.1% Balance of trade for the month of April stood at -8.9 billion US $.
The Supreme Court today pulled up the ED for filing a charge sheet against Pune-based stud farm owner Hasan Ali Khan in a case of alleged money laundering without informing a high-level committee formed by the government to monitor probe in sensitive cases.
