Banks could be excluded from class-action suits, which have been proposed under the new Companies Bill, 2009. The move will help to ensure that the interests of depositors remain paramount. Class action is a new clause that would allow members, shareholders or creditors of a company to file complaints against the organisation in case of serious instances of mismanagement.
As ‘spot-fixing’ charges haunt Pakistani cricketers, Indian sleuths probing alleged tax evasion in the multi-million IPL are now tracking trail of crores of rupees being pumped into betting syndicates in the country. The Income Tax department has no
The government may lose over Rs 500 crore in service tax this year, as its decision to impose tax on eight new services and amend some existing ones has been challenged in three cases — copyright, immovable property and health check-up services provi
Reserve Bank of India on Friday said fraudulent and ficticious offers though e-mails, mobile phones and SMSs had increased significantly in the last two years despite public awarness by RBI.
These include e-Governance, e-Industry, e-Innovation, e-Learning, e-Security and e-Inclusion. The Department of Information Technology (DIT) has decided to ‘e-Develop’ six core areas — e-Governance, e-Industry, e-Innovation, e-Learning, e-Security an
With a view to reach out to more customers, the National Stock Exchange (NSE) is gearing-up to launch mobile trading through nearly 800 registered brokers in early-October, an NSE official said.
As you are kindly aware that the Direct Taxes Code Bill, 2010 has been introduced in the Parliament on 30thAugust, 2010. The Direct Taxes Committee of ICAI requests you to kindly send your valuable suggestions on the same.
Securities and Exchange Board of India (Sebi) has said that shares of companies in which at least 50 per cent non-promoter holding is not in the demat form will be included in the trade-for-trade (TFT) segment. It said the norm would be implemented f
The ‘easy exit scheme’ proposed by the Ministry Of Company Affairs (MCA) has received an overwhelming response from promoters who want to wind up their loss-making ventures without too many regulatory hurdles. According to MCA scrolls, 15,000 companies have hit the road to easy liquidation – about 1,815 of them being finance and investment firms.
Direct Taxes Code (DTC) proposes to do the necessary for bringing some certainty on tax treatment of a financial lease, but this is not sufficient to make it a preferred mode of finance, say industry and tax experts. The levy of multiple taxes on a f
