Service Tax on Healthcare Services is Introduced in the Finance Act 2010. Small write up is given below on the levy of service tax on healthcare services. Section 65(19b):- “business entity” includes an association of persons, body of individuals, company or firm but does not include an individual.
India is a democratic country. In a democratic society, the responsibility of the government is more and the common masses have ultimate right to get information about every public act. If people do not know what is happening in their society, if the actions of those who rule them are hidden, then they cannot take a meaningful part in the affairs of that society. But information is not just a necessity for people- it is an essential part of good government. Bad government needs secrecy to survive. It allows inefficiency, wastefulness and corruption to thrive.
19th November, 2009- it is just another day like any other day. But to the nation it is the 92nd Birth Anniversary of Indira Gandhi who was not only our Prime Minister but a mass leader who moved the nation ahead by her pragmatic approach. She was a lady who mesmerized one and all by her iron will and leadership qualities. It was under her leadership that India earned consolidated position world wide.
Stealing is not just a violation of a moral code but is also considered criminal in most cases. But somehow, morality has not been emphasised in the corporate world and the new corporate professional has not been initiated into it. This ignorance has given rise to the new and improved, socially-accepted, ‘corporate thief’.
An income-tax raid on a Delhi-based infrastructure and power major with a turnover of over $2.5 billion led to the disclosure of unaccounted income worth Rs 212 crore. Assuming a profit rate of 10%, the disclosure also amounted to an admission that the businessman had withheld disclosing a turnover worth Rs 2,000 crore which, had it been accounted for, would have spelt big gains for other tax departments such as service tax, central excise, VAT and others.
Please find below the details of Online Income Tax return filed during the period from 01.04.2009 to 31.03.2010.
If the Assessing officer or Commissioner (Appeals) in the course of any proceedings under the Act is satisfied that any person has concealed the particulars of his income or furnished inaccurate particulars of such income, then he can direct that such person shall pay by way of penalty u/s. 271(1) (c), a sum not less than 100% but not exceeding 300% of the amount tax sought to be evaded by reason of concealment of his income or furnishing inaccurate particulars of his income.
Securities and Exchange Board of India [SEBI] has, on 5 April 2010, directed Stock Exchanges [SE] to amend the Equity Listing Agreement [LA]. The amendments to LA puts in place of earlier decisions of SEBI Board meetings held on 22 September 2009 and 9 November 2009 and are applicable to companies listed on SE in India. The highlights of the amendments to LA are as under:
RBI has, on 11 February 2010, amended the Non-Banking Financial (Non- Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 [NBFC Directions] to introduce a 4th category of Non Banking Financial Company [NBFC] viz. “Infrastructure Finance Company” [IFC]. This is in addition to the existing 3 categories of NBFCs viz. Asset Finance Company (AFC), Loan Company (LC) and Investment Company (IC).
The Delhi Government has imposed certain restrictions and conditions subject to which a dealer can avail input tax credit. The amendments, effective from 1 April, 2010, are as follows:1. Input tax credit will be available to a dealer for a tax period on the goods purchased during that tax period
