TaxGuru.in : Legal & Tax Updates 14.04.2010

TaxGuru.in : Legal & Tax Updates (in this message: 19 new items)

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SEBI firm on its ban order on issue of ULIP after April 9, 2010 by insurance companies

Posted: 13 Apr 2010 08:58 PM PDT

A day after the finance ministry brokered a truce between two financial sector regulators, SEBI today said any new ULIP scheme launched after April 9, 2010 by insurance companies will remain covered by its earlier ban order.

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Exempt Indian companies' earning from overseas firms – Assocham

Posted: 13 Apr 2010 08:56 PM PDT

Industry body Assocham today suggested that Indian companies' earning from overseas firms, in which they hold over 10 per cent stake, should be exempted from income tax. The move, the chamber said, would help Indian entrepreneurs bring back their...

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Britain made takeovers by foreign companies difficult

Posted: 13 Apr 2010 08:51 PM PDT

Britain's Labour party has promised to make it more difficult for Indian and other foreign companies to take over British firms by requiring two-thirds of shareholders at the target company to approve a change of ownership, up from the current 50.1...

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Govt Identifies 9 New Territories for Tax Avoidance Agreements

Posted: 13 Apr 2010 08:45 PM PDT

The Central Government have approved notification of the following areas as 'specified territory' for the purpose of Explanation 2 to Section 90 of the Income Tax Act 1961 – (i) Bermuda, (ii) British Virgin Islands, (iii) Cayman Islands, (iv)...

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ICAI to be a Facilitator of Finance Ministry's E-Initiative Signs MOU with the Central Board of Excise and Customs

Posted: 13 Apr 2010 08:44 PM PDT

The Institute of Chartered Accountants of India (ICAI has signed a Memorandum of Understanding (MOU) with the Central Board of Excise and Customs (CBEC). Giving this information here today the President of ICAI, Shri Amarjit Chopra, said that under...

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ICAI clarification on disposal of form to members of The Northern Region

Posted: 13 Apr 2010 08:21 PM PDT

Some of the members have expressed the concern that their matters especially regulatory affairs like Form 2, Form 6, Form 18 etc., are not expeditiously disposed off thereby causing avoidable inconvenience/hardship.

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CA in practice for one year or more may become Certified Facilitation Centre under ACES Project of the CBEC

Posted: 13 Apr 2010 08:18 PM PDT

Chartered Accountants in practice for one year or more may become Certified Facilitation Centre (CFC) for providing facilities to Central Excise and Service Tax assessees to file returns and other documents electronically under Automation of Central...

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Notification No. 50/ 2010-Customs – Regarding anti dumping duty on Front Axle Beam and Steering Knuckles originating in, or exported from China

Posted: 13 Apr 2010 08:04 PM PDT

Whereas, in the matter of import of Front Axle Beam and Steering Knuckles meant for heavy and medium commercial vehicles' (hereinafter referred as the subject goods), falling under tariff items 73269099,73261910, 73261990, 87085000, or 87089900, of...

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Notification No. 49/ 2010-Customs – Regarding anti dumping duty on circular weaving machines, originating in, or exported from China

Posted: 13 Apr 2010 07:55 PM PDT

Whereas, in the matter of import of circular weaving machines having six or more shuttles for weaving PP/HDPE fabrics of a width exceeding 30 cms. (hereinafter referred as the subject goods), falling under Heading 8446 of the First Schedule to the...

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Notification No. 48/ 2010-Customs -Regarding anti dumping duty on Recordable Digital Versatile Disc [DVD] of all kinds, originating in, or exported from the Malaysia, Thailand and Vietnam

Posted: 13 Apr 2010 07:49 PM PDT

Whereas, in the matter of import of Recordable Digital Versatile Disc [DVD] of all kinds (hereinafter referred as the subject goods), falling under Heading 8523 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) and originating in,...

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Custom Notification No 29/2010 (NT) amending Notification No. 49/2005-Customs (N.T.), dated the 17th June, 2005

Posted: 13 Apr 2010 07:37 PM PDT

In exercise of the powers conferred by sub-section (1B) of section 129A of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following further amendments in the notification of the Government of India,...

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Custom Notification No 28/2010 (NT) amending Notification No. 39/2005-Customs (N.T.) dated 3rd May, 2005

Posted: 13 Apr 2010 07:35 PM PDT

-In exercise of the powers conferred by sub-section (1B) of section 129A of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following further amendment in the notification of Government of India, Ministry...

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Income-tax department making effort to recover Income Tax out of money in Swiss Account of Hasan Ali Khan

Posted: 13 Apr 2010 07:22 PM PDT

The income-tax department is making a last-ditch effort to lay its hands on the $8 billion allegedly stashed away by Hasan Ali Khan, a Pune-based stud farm owner, who is being investigated by the income-tax department as well as the Enforcement...

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ICSI will focus on semi-urban and rural areas

Posted: 13 Apr 2010 07:04 PM PDT

The Institute of Company Secretaries of India (ICSI) is working towards creating more number of company secretaries from rural and semi-urban areas in the east, Mamta Binani, the first lady chairperson of the Eastern India Regional Council of ICSI,...

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IRDA's Guidelines on Periodic Disclosures to be made by insurance companies

Posted: 13 Apr 2010 06:59 PM PDT

The periodic disclosures have been notified by the Authority. In order to have uniformity among the insurers on disclosures and to clarify the doubts raised by certain insurers and other stakeholders, Authority provides the following guidelines on...

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IRDA chairman letter to existing and prospective ULIP Policyholders

Posted: 13 Apr 2010 06:55 PM PDT

In the context of the recent directions of the Securities and Exchange Board of India (SEBI) to 14 insurance companies directing them not to issue any offer document, advertisement, brochure soliciting money etc from investors, the IRDA deems it...

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Govt notified ten year Deep Discount Bond of REC the purpose of section 2 (48) the Income Tax Act

Posted: 13 Apr 2010 06:51 PM PDT

The Central Government have approved notification of ten year Deep Discount Bond (Zero Coupon Bond) of Rural Electrification Corporation Limited (REC) to be issued by 31st March 2011 as specified bonds for the purpose of sub-section 48 of section 2...

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Legal Service Authority Act, 1987 – A Preview of Application on Society

Posted: 13 Apr 2010 03:47 AM PDT

The Legal Services Authority Act, 1987 (`LSA') was enforced with effect from 9th November,1995 after certain amendments were introduced by the Amendment Act of 1994 to the main act. The Act provides for scope of legal aid support for the...

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Why blue chip stocks are preferred?

Posted: 13 Apr 2010 03:26 AM PDT

Price movement of a Share and Investment Decisions:It is true that it is very difficult to predict the price movement of a stock of a listed Public Company. The price of a share of a listed Public Company will depend upon the 'demand and supply...

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With Regards, 
CA Sandeep Kanoi 
Website: http://www.taxguru.in/ 
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