Union Corporate Affairs Minister Dr. M. Veerappa Moily has asked the Corporate Sector in the country to send their relevant and issue specific suggestions during the current exercise of initiatives underway in drafting the new national competition policy. The Minister was chairing the second Consultative Meeting on draft National Competition Policy at FICCI Auditorium here in New Delhi Today.
A case was registered U/s 7 of PC Act 1988 against Supdt. (Audit), Central Excise, Indore for demanding a bribe of Rs. 50,000/- for showing official favour in the matter of accepting the report of Survey Department of Central Excise to clear the service tax of his company. CBI laid a trap and the accused was caught red handed while demanding and accepting a bribe of Rs.50,000/ from the complainant.
Nine months after the responsibility for Income Tax investigations was taken over by the Chairman of the Central Board of Direct Taxes (CBDT), the portfolio has now once again been vested with a separate member, in sync with the practice of previous years. The present Chairman of the Central Board of Direct Taxes (CBDT), M C Joshi, had held on to the charge of I-T investigations when he took over on August 1 this year.
India has signed a double taxation avoidance agreement (DTAA) with Estonia and has also forged a pact to work with the European nation in the fields of information, communications and technology (ICT). Communications and Information Technology Minister Kapil Sibal signed the pact during his visit to Estonia on September 19, during which he also met Estonian Prime Minister Andrus Ansip, an official statement said.
Government today said that it was working on a system to automatically transfer service tax refunds in their accounts. Currently, the duty drawback is directly credited to accounts of exporters maintained at customs houses, but exporters have to file claims separately to get service tax refunds. Exporters complain that many a times there are unusual delay in refund of the levy.
The Central Direct & Indirect Taxes Committees are in the process of identifying issues that need to be taken up in the Pre-Budget Memoranda on Direct & Indirect Taxes – 2012 to be submitted to the Ministry of Finance.
The Second round of consultations on the revised version of National Competition Policy will held tomorrow at FICCI, Federation House, Tansen Marg, New Delhi. The Union Minister for Corporate Affairs Dr. M.Veerappa Moily will chair the consultations.
The Union Minister of Communications and Information Technology, Shri Kapil Sibal has said that adequate balance needs to be maintained between needs of ‘privacy of individual’ and ‘genuine security concerns of state’ while dealing with challenges of cyber security. Delivering keynote address in the opening session of the Summit on Information and Network Security for Emerging Markets on September 20, 2011 at Helsinki, he cautioned that the cyber attacks come not only from individuals but also from rival corporate houses and rouge states.
The terms of reference of the Task Force under the Chairmanship of Shri Nandan Nilekani, Chairman, Unique Identification Authority of India (UIDAI) has been expended to include an Aadhaar-enabled unified payment infrastructure. The said Task Force was constituted by the Ministry of Finance in February 2011 to recommend and implement a solution for direct transfer of subsidies on Kerosene, LPG and Fertilizer to the intended beneficiaries.
What are the passing requirements for PCE/IPCE/Final exam? a) A candidate shall ordinarily be declared to have passed in both the groups simultaneously, if he-(i) secures at one sitting a minimum of 40% marks in each paper of each of the groups and minimum of 50% marks in the aggregate of all the papers of each of the groups; or (ii) secures at one sitting a m
