Section 211 of the Companies Act, 1956 requires that the balance sheet and profit and loss account of a company shall be in the form set out in Part I of Schedule VI or in such other form as may be approved by the Central Government either generally
In order to give an opportunity to the defunct companies, for getting their names strike off from the Register of Companies, the Ministry had decided to introduce a Scheme namely, “Easy Exit Scheme, 2011” under Section 560 of the Companies Act, 1956
Net direct tax collections during the period April 2010 to January 2011 stood at Rs.3,17,501 crore, up from Rs.2,63,765 crore in the same period last fiscal, registering a growth of 20.37 percent. Growth in Corporate Income Tax was 24.78 percent (R
PRESS RELEASE NO. 17/2011, DATED 19-1-2011 SEBI has prepared a discussion paper on outsourcing of activities related to the intermediation services. The paper proposes certain principles for outsourcing, and indicates activities presently being outsourced by the intermediaries along with the suggested list of activities which should not be outsourced by them. The discussion paper is […]
In search & seizure actions conducted by the Income Tax department on 18th & 19 th January 2011, unaccounted cash amounting to Rs 44.20 crore was seized. This is the largest ever cash haul by the Income Tax department.
Growth in Corporate Income Tax was 22.07 percent (Rs.2,03,244 crore as against Rs.1,66,503 crore), while Personal Income Tax (including STT, and residual FBT / BCTT) grew at 14.57 percent (Rs.92,295 crore as against Rs.83,178 crore). Growth of Securities Transaction Tax was 11.97 precent (Rs.5,117 crore against Rs.4,570 crore).
Section 80-IA(4)(iii) of the Income-tax Act, 1961 – Deductions – Profits and gains from Industrial Infrastructure Undertakings, etc. – List of notified Industrial Parks from 16-9-2010 till date
The Central Board of Direct Taxes (CBDT) has clarified that the Income Tax Department is currently scrutinizing only a handful of cases relating to takeovers, mergers and acquisitions; not 380 or 100 as reported in some sections of the media. Tax scrutiny is an ongoing process and the numbers vary from year to year. This has already been stated in replies to several Parliament Questions
Inauguration of Income Tax Office at Chinsurah, Dist-Hooghly, West Bengal by Honble Union Finance Minister Shri Pranab Mukherjee on 04.12.2010 – Publicity in the official web site
SEBI – Submission of report of the Committee for Review of Ownership and Governance of Market Infrastructure Institutions PRESS RELEASE NO. 254/2010, DATED 23-11-2010 The Securities and Exchange Board of India constituted a Committee under the Chairmanship of Dr. Bimal Jalan, (Former Governor, Reserve Bank of India) to examine issues arising from the ownership and governance […]
