Notification No. 52/2010-Income Tax Tax Free Pooled Finance Development Bonds under Pooled Finance Development Fund Scheme of Government of India (Second Tranche). Water and Sanitation Pooled Fund, Tamil Nadu designated as State Pooled Finance Entity for the State of Tamil Nadu.
Notification No. 51/2010-Income Tax In pursuance of the provisions contained in sub-clauses (iv) and (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961) read with sub-rule (2) of rule 2C of the Income-tax Rules, 1962, the Central Board of Direct Taxes hereby makes the following amendment in the notification of the Government of India, Ministry of Finance (Department of Revenue) Central Board of Direct Taxes, number S.O. 851(E), dated the 30th May, 2007, namely
Notification No. 50/2010-Income Tax In exercise of powers conferred by clause (xii) of sub-section (2) of section 80C of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the Immediate Annuity Plan of the ICICI Prudential life Insurance Company Limited, as approved by Insurance Regulatory and Development Authority, as the annuity plan of the ICICI Prudential Life Insurance Company Limited for the purposes of the said clause for the assessment year 2007-08 and subsequent years.
In exercise of the powers conferred by sub-section (1) of Section 210A of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following amendment in the notification of Government of India, Ministry of Corporate Affairs, published in the Gazette of India , Extraordinary, dated the 21st July, 2009 vide number S.O. 1800(E), dated the 21st July, 2009, namely :–In the said notification for the figures “20-7-2010” wherever they occur, the figures “20-8-2010” shall be substituted.
In terms of the existing regulatory framework, if the SGL transfer form bounces three times in a half year, for want of either funds or the securities, the account holder is liable to be debarred from using the SGL account facility for a period of six months. After restoration of the facility, if the SGL transfer form of the account holder bounces again, such account holder is liable to be permanently debarred from using its SGL account.
NC Notification No. 57/2010-Income Tax In exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government, on the recommendations of the National Committee for Promotion of Social and Economic Welfare, hereby notifies the institutions approved by the said National Committee, mentioned in column (2) of the Table
The guidelines on credit card operations cover various aspects such as issue of credit cards, interest rates and other charges, wrongful billing, use of Direct Sales Agents (DSAs)/Direct Marketing Agents (DMAs) and other agents, protection of customer rights covering among other things right to privacy, customer confidentiality and fair practices in debt collection, redressal of customer grievances, internal control and monitoring systems, fraud control etc.
In terms of the third proviso of para 18 of the Non-Banking Financial (Non- Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007, any systemically important non-deposit taking non-banking financial company not accessing public funds, either directly or indirectly, may make an application to the Bank for modifications in the prescribed ceilings with regard to Concentration of credit / investment norms.
Notification No. 49/2010-Income Tax In a recent Notification No. 49/2010 dated 9 July 2010 (Notification) issued by the Central Board of Direct Taxes, modifying the permitted modes of filing return of income (ROI) for (i) companies and (ii) individuals and Hindu Undivided Families (HUF) which are liable for tax audit.
Notification No. 49/2010-Income Tax “(a) a firm required to furnish the return in Form ITR-5 and to whom provisions of section 44AB are applicable shall furnish the return in the manner specified in clause (ii) or clause (iii); (aa) an individual or HUF required to furnish the return in Form ITR-4 and to whom provisions of section 44AB are applicable shall furnish the return for Assessment Year 2010-11 and subsequent Assessment Years in the manner specified in clause (ii) or clause (iii); (ab) a company required to furnish the return in Form ITR-6 shall furnish the return for Assessment Year 2010-11 and subsequent Assessment Years in the manner specified in clause (ii)’
