| Manufacturing of new product with new technology at existing place with fresh SEZ approval does not amount to 'splitting up or reconstruction' Posted: 24 May 2010 07:54 PM PDT 
Manufacturing of a new product with a new technology at the same place after taking a fresh approval from SEZ authority does not amount to 'splitting up or reconstruction' of an existing business for the purpose of section 10A of the Act. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Initial assessment year for computation of profits eligible for tax holiday is the year in which taxpayer exercises the option to claim deduction Posted: 24 May 2010 07:49 PM PDT 
Under the Indian Tax Laws (ITL), a taxpayer carrying on the business of generation of electricity, which qualifies for income-linked deduction (eligible business), can opt to claim such deduction for a period of 10 assessment years (AYs) out of 15... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| No timeframe to restore excise duty benefits in North-East region Posted: 24 May 2010 06:44 PM PDT 
Union industry minister Anand Sharma on Saturday disappointed the industry of North-East as he could not assure any timeframe to restore the excise duty benefits that the industry of the region enjoyed under the North-East Industrial and Investment... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| CCI plans easy Merger and Acquisitions norms Posted: 24 May 2010 06:39 PM PDT 
Big corporate houses in India may not have to live under fear of having to seek the competition watchdog's approval for every small merger or acquisition in India or abroad. The Competition Commission of India (CCI) is now planning to set a turnover... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| No consensus yet between Centre and states on GST structure Posted: 24 May 2010 06:37 PM PDT 
Though the Centre and states officially exuded confidence in meeting the revised deadline to roll out GST from the next fiscal, an agreement over the structure for the proposed indirect tax system does not seem to be so easy. While the states have... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Infrastructure special purpose vehicles (SPV) to get nod for tax-free bonds Posted: 24 May 2010 06:25 PM PDT 
The government may soon allow infrastructure special purpose vehicles (SPVs) to raise long-term funds by issuing tax-free bonds to individual households. The scheme is an extension of a plan to allow private infrastructure firms to issue such... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| DGFT-Amendments in Notification No. 44 /2009-14 dated 21.5.2010 Posted: 24 May 2010 06:21 PM PDT 
In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with Para 1.3 and 2.1 of the Foreign Trade Policy, 2009-14, and also read with Notification No. 26 (RE 2008)/2004-09... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Revised DTC draft for public comments in first week of June: Revenue Secretary Posted: 24 May 2010 06:07 PM PDT 
The government on Monday said that the revised draft of the Direct Taxes Code (DTC), which is aimed at simplifying the tax structure, would be made available for public comments in the first week of June. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Industrial Park Scheme Eligible for Deduction Under Section 80IA of I-T ACT Extended to 31st March 2011 Posted: 24 May 2010 06:04 PM PDT 
The Central Board of Direct Taxes (CBDT) has amended the Industrial Park Scheme 2008 and Rule 18C of the Income Tax Rules, 1962 to give effect to the extension of the ending date of operation of the Scheme to 31st March 2011. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| SC doubts law requiring PSUs to obtain COD approval Posted: 24 May 2010 06:02 PM PDT 
In ONGC vs. CCE 104 CTR (SC) 31, the Supreme Court directed the Central Government to set up a `Committee on Disputes' to monitor disputes between the Government and Public Sector Enterprises and give clearance for litigation. It was held the no... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| SEZ- Withdrawal of Instruction No. 34 Posted: 24 May 2010 06:01 PM PDT 
I am directed to refer to Instruction 56, dated 7th May, 2010 of this Department and to say that pursuant to the Notification dated 13th January, 2010 whereby sections 20, 21 & 22 of SEZ Act, 2005 have been operationalised, Instruction No. 34... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Acceptance of PAN applications – initials in the middle name Posted: 24 May 2010 05:50 PM PDT 
Attention of all TIN-Facilitation Centers (TIN-FCs) is hereby invited to the procedure prescribed for accepting PAN applications. As you are aware, PAN applicants (individuals) are required to provide names (first name, middle name & last name)... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| ICSI Plans to roll out two new courses Posted: 24 May 2010 05:28 AM PDT 
The Institute of Company Secretaries of India (ICSI) has plans to launch post membership qualification (PQM) courses in competition law as well as corporate restructuring and insolvency in the next six months. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
