The government today came out with a new index on inflation, which revealed that the rate of price rise declined by 1.3 percentage points to a 7-month low of 8.5 per cent in August. However, data on the old inflation series, which was released along with the new series today, showed that the rate of price rise dipped marginally from 10 per cent in July to 9.5 per cent in August.
The New Pension Scheme (NPS) has so far not seen too many takers after the government opened the scheme to the public in 2009. However, the investment scenario will most likely change in favour of NPS once the proposals under the latest Direct Taxes
In a recent judgement, a Division Bench of the Bombay High Court has held (among other things) that in case of a “public company”, the agreements between the shareholders which provides for restrictions on free transferability of shares are to be res
Companies Bill, 2009 (the Bill) was introduced on 3rd August, 2009 in the Lok Sabha and was referred to the Standing Committee on Finance of the Parliament (the SCF) for examination and report. The Bill seeks to codify a new law to regulate companies
under CST Act as lot of Assessments are pending under VAT and CST Acts and many dealers are facing problems in getting and producing the C forms for finalization of their assessments. Some important issues relating to the C forms are discussed as below for the benefit of dealers all around India:
The Direct Code Bill 2010 is in public domain now, after a long debate and discussion on the Draft DTC put on public domain in August 2009. The Chapter of INCOME TAX SETTLEMENT COMMISSION having no space in the Draft DTC and has been made part of Direct Taxes Bill 2010, therefore requires proper public debate and sufficient discussions as to the Chapter XVI of DTC Bill 2010.
The Supreme Court on Thursday rejected the income-tax department’s contention that companies based in India were liable to deduct tax when they make any payment overseas, offering relief to domestic firms and multinational companies based here that w
Scale has generally been viewed as the most important, if not the dominant, determinant of bank competitiveness. In the Indian context, no discussion about banking sector reform is complete without reference to consolidation, which is generally take
The Cabinet approved Direct Tax Code (DTC) as tabled in Parliament on last day of August 2010 has many surprises and hidden shocks for individuals as well as corporate India. The key objective of DTC is to benefit small taxpayers as a result of rati
Just 10 short years ago, the 189 member states of the United Nations signed a declaration in which they said “we will spare no effort to free our fellow men, women, and children from the abject and dehumanizing conditions of extreme poverty to which
