Individuals and companies can expect some relief in the Direct Taxes Code (DTC), with the government planning to widen personal income-tax slabs, enhance the exemption limit and remove levies on corporate tax. This comes with the Cabinet clearing the Direct tax code which will be introduced in Rajya Sabha, and referred it to a select committee, during the monsoon session.
The Ministry of Corporate Affairs in association with Dun & Bradstreet has released an e-learning programme for Corporate Governance Voluntary Guidelines 2009. While the guidelines are not mandatory, the Government hopes that they will serve as a benchmark for the highest standards in the corporate sector.
In a major embarrassment for the Andhra Pradesh judiciary, five judges were caught cheating while writing the LLM (Master of Law) examination for which they were promptly suspended by the High Court.
In case the equilibrium price is not discovered in the pre-open session, wherein, there are only market orders, the market orders shall be matched at last traded price and all unmatched orders shall be shifted to the order book of the normal market at last traded price following time priority. Last traded price shall be the opening price.
SEBI has received proposal from the stock exchanges and market participants for introducing Smart Order Routing which allows the brokers trading engines to systematically choose the execution destination based on factors viz. price, costs, speed, likelihood of execution and settlement, size, nature or any other consideration relevant to the execution of the order.
Details of persons who had been found guilty of professional misconduct specified in the First Schedule read with Sections 21 & 22 of the Chartered Accountants Act, 1949 (pre-amended) and whose names as members have been removed from the Register of members of ICAI for the period mentioned against each of them in accordance with the decision of the Council of the ICAI taken under sub – section [4] of Section 21 of the Chartered Accountants Act, 1949.
The government is likely to appoint State Bank of India as the clearing bank for the proposed Goods and Services Tax (GST) and National Securities and Depositories Ltd (NSDL) as the clearing corporation for implementing the infrastructure required for inter-state tax administration.
Proposed name is not according to the activities described in Main Objects. Proposed Name is not available in view of the existence of identical or closely resembling companies. Proposed name is too general without any distinct word or identity.Keywords like Industry/ Udyog, Enterprises, Products, Business, manufacturing may be considered when the company proposes to deal in various business activities/ the company is already carrying on various business activities (in case of change of name). As your business activity is in particular trade said keywords cannot be allowed.
Property statements filed by civil servants are not confidential information and can be disclosed after taking the views of concerned officials as per the provisions of the RTI Act, the Central Information Commission has held. Chief Information Commissioner Wajahat Habibullah rejected the plea of Department of Personnel and Training that these records were held “in confidence” by the government and are hence exempted from disclosure.
Insurance regulator IRDA has slapped a fine of Rs 20 lakh on Bharti Enterprises promoted life and non-life insurance ventures for not informing changes in ownership pattern. Both Bharti Axa Life Insurance Company and Bharti Axa General Insurance Company has been asked to pay a penalty of Rs 10 lakh each.
