The Cabinet today approved the proposal of the Department of Economic Affairs for amendment to Section 15M of the Securities and Exchange Board of India (SEBI) Act, 1992, to enlarge the field of selection for the post of Presiding Officer (PO) of the Securities Appellate Tribunal (SAT)
Ministry of Railways has made some relaxation in the condition of production of original Proof of Identity during train travel and particularly for the passengers belonging to the lower economic classes.
It is observed from some recent newspaper reports that fraudulent telephone calls are being made to individuals/investors in the name of the regulatory officials giving advice on financial products.
CBI REGISTERS A CASE AGAINST FOUR OFFICIALS OF CUSTOMS & ONE DRI OFFICIAL IN AN ALLEGED BRIBERY CASE; CONDUCTS SEARCHES The Central Bureau of Investigation has registered a case against four officials of the Customs Department & a Deputy Director, DRI; one Representative of a Kolkata-based private firm in an alleged bribery case, for […]
During the current Financial Year 2012-13 (upto December 2012),The Directorate General Of Central Excise Intelligence, Chennai Zonal Unit has detected Central Excise duty & Service Tax evasion to the tune of Rs.362.45 Crores and has recovered an amount of Rs. 76.88 Crores on the spot voluntarily from various evaders of Central Excise duty as well as Service Tax.
NOTICE TO AB Sr. The Supreme Court has issued a notice to Mr. Amitabh Bachchan regarding his case for A.Y. 02-03 on a petition from the revenue. On 13th October, 2002, Mr. Bachchan filed his return for the year stating his income to be Rs. 14.99 crore, later on 31st March, 2003, he filed a […]
The Finance Act, 2012 has inserted certain retrospective amendments in the Incomes Tax Act, 1961. One of them is insertion of explanation 4 and 5 to section 9 (1) (i) with an intent to tax transfer between nonresidents of shares of foreign company deriving value from assets located in India.
Interest amount for the purpose of TDS be increased from Rs. 10,000/- to Rs. 25,000/- on fixed term deposits with banks, tax exemption of Rs. 20,000/- under section 80CCF for investing in Infrastructure Tax Free Bonds be reintroduced, bringing more transparency in gold and real estate transactions at par with equity transactions, to bring housing sector within the definition of infrastructure and encouraging long term funds for investment in housing sector among others.
ASSOCHAM wants correction as FM begins pre-budget consultations Showing a grave concern over the fact that notices for reopening of assessments by the tax authorities are being issued in thousands in recent times, ASSOCHAM today said returns should not be re-opened beyond three years. As Finance Minister P Chidambaram has started his pre-budget consultations with […]
As per internal Sources Reserve Bank of India has decided to stick to 6 crores limit for March 2013 Statutory Branch Bank Audits. As per the reliable source, in spite of clearance for 20 crores limit, RBI is going ahead with last year agreed limit of 6 crores. RBI shall finalize its Empanelment by the end of last week of January 2013/ First week of February 2013.
