| Views expressed by smaller bench of a SC in case of Azadi Bachao Andolan on tax avoidance are binding on the HC Posted: 23 Mar 2011 09:01 PM PDT 
Views expressed by smaller bench of a Supreme Court in the case of Azadi Bachao Andolan on tax avoidance are binding on the High Courts because it has interpreted the decision of the larger bench in the case of Mcdowell & Company. Accordingly,... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Introduction of Constitution Amendment Bill for implementation of GST Posted: 23 Mar 2011 09:00 PM PDT 
The Union Finance Minister (FM) on 22 March 2011, introduced a Constitution Amendment Bill (the Bill) in the Lok Sabha to enable the implementation of 'Goods and Service Tax' (GST), an indirect tax regime that would subsume levies like excise,... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Delegation of powers of Central Government to Regional Directors and Registrar of Companies Posted: 23 Mar 2011 08:56 PM PDT 
Addition to list of powers and functions of the Central Government delegated to ROC: Earlier, the grant of license for formation of a company which intends to apply its profits or other income in promoting its objects (i.e. objects of promoting... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| SEBI announces new Code of Conduct to check price manipulation Posted: 23 Mar 2011 08:52 PM PDT 
The regulator SEBI today announced a new set of Code of Conduct, including restricting access to Internet forums for employees, for market intermediaries to ensure that unsubstantiated news, which could distort normal functioning and prices of... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Banks to have extended working hours on March 30, 31- RBI Posted: 23 Mar 2011 08:48 PM PDT 
The Reserve Bank of India asked banks to have extended working hours on March 30 and 31, 2011, to facilitate receipt of government revenue from members of public even at late hours. It has been decided in consultation with the Controller General... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Unauthenticated news circulated by SEBI Registered Market Intermediaries through various modes of communication Posted: 23 Mar 2011 08:39 PM PDT 
Further, in various instances, it has been observed that the Intermediaries do not have proper internal controls and do not ensure that proper checks and balances are in place to govern the conduct of their employees. Due to lack of proper internal... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2010-11) Posted: 23 Mar 2011 08:16 PM PDT 
With a view to facilitating accounting of all the Government transactions of the current financial year (2010-11) by March 31, 2011 and meeting the probable rush of tax-payers towards the end of the year, it has been decided in consultation with the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| 'EGM to appoint new addl director on TFCI board invalid' Posted: 23 Mar 2011 08:03 PM PDT 
The Company Law Board (CLB) today declared the extraordinary general meeting (EGM) convened by IFCI for the appointment of an additional director on the board of Tourism Finance Corporation of India (TFCI) invalid. The CLB bench of Justice D R... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| CBDT Chief Sudhir Chandra gets extension Posted: 23 Mar 2011 07:57 PM PDT 
It's a great victory for Finance Minister Pranab Mukherjee. Finally Prime Minister Manmohan Singh has cleared the extension of CBDT Chairman Sudhir Chandra for two months beginning April 1.Earlier the PM had rejected the extension proposal. [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| 14 FDI Proposals worth Rs. 1289.85 Crore Approved Posted: 23 Mar 2011 07:54 PM PDT 
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on March 11, 2011, Government of India has approved 14 Proposals of Foreign Direct Investment (FDI) amounting to Rs. 1289.85 crore approximately. [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Amendment proposed in Finance Bill/ Budget 2011 by Finance Minister Posted: 23 Mar 2011 07:44 PM PDT 
The finance minister retained most of his other proposals, providing only marginal relief to industries such as automobiles, garments, personal computers and printers. On direct taxes, the biggest concession was in the norms for a concessional 15%... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Service Tax on Healthcare Services may back with GST Posted: 23 Mar 2011 07:33 PM PDT 
The Lok Sabha passed the budget proposals minus the 5% service tax on healthcare and diagnostic services provided by high-end hospitals that was withdrawn following widespread criticism. Finance Minister Pranab Mukherjee , however, indicated the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Mistakes in Budget Bulletins, 2011 related to Custom Duty, Central Excise and Service Tax Posted: 23 Mar 2011 07:07 PM PDT 
Consequent upon the printing and publishing of the Budget Bulletins, 2011 (both Customs and Central Excise & Service Tax), the Directorate of Publicity and Public Relations has subsequently been informed that the following corrections are... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Appeal can not be dismissed on default to pay costs Posted: 23 Mar 2011 06:56 PM PDT 
This question came up for discussion in the above mentioned case before their Lordships, and it was held that non-payment of costs, does not entail the dismissal of the suit. Order XVII rule (1) of the CPC provides that the court may, if sufficient... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Validity of sale agreement executed on two stamp papers purchased on different dates and more than six months prior to date of execution Posted: 23 Mar 2011 06:42 PM PDT 
Civil - Specific performance - Validity of - Stamp paper - Opinion of experts - Section 54 of the Indian Stamp Act, 1899 - Indian Stamp Rules, 1925 - Section 45 of the Indian Evidence Act, 1872 - Plaintiff-Appellant alleged that the First Defendant... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Finally, India card Rupay to replace Visa, Master Card Posted: 23 Mar 2011 06:11 PM PDT 
After almost two years of planning, the National Payments Corporation has at last finalised the proposed unique India Card which once commercially launched would be an domestic alternative to the global real-time payment processing firms like Visa... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Germany relaxes immigration laws for professionals Posted: 23 Mar 2011 06:08 PM PDT 
Legislation passed Wednesday by Chancellor Angela Merkel's Cabinet aims to making it easier for foreign professionals to get their qualifications recognized and use their skills in Germany. Germany estimates some 300,000 immigrants already living in... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Exposure Drafts of Proposed Limited Revisions to Secretarial standards Posted: 23 Mar 2011 06:04 PM PDT 
The following are the texts of the Exposure Drafts of the proposed limited revisions to 'Secretarial Standard on Meetings of the Board of Directors (SS-1)', 'Secretarial Standard on General Meetings (SS-2)' and 'Secretarial Standard on Minutes... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| RBI reference rates for US dollar and euro Posted: 23 Mar 2011 08:28 AM PDT 
The Reserve Bank of India (RBI) today fixed the reference rate for the US dollar at Rs 44.96 per dollar and the euro at Rs 63.68 per euro, as against Rs 44.97 per dollar and Rs 63.98 per euro yesterday. In a press release issued by the RBI, the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| ED conducts searches at Hasan Ali CA's residence Posted: 23 Mar 2011 05:48 AM PDT 
The Enforcement Directorate on Wednseday carried out searches at the Pune residence of Sunil Shinde, the chartered account of businessman Hasan Ali Khan, who is facing charges of money laundering and tax evasion. [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| ROC Revised format of ROC form No. Related to Return of Share Allotment Posted: 23 Mar 2011 04:08 AM PDT 
(1) These rules may be called the Companies (Central Government's) General Rules and Forms (Amendment) Rules 2011. (2) These rules shall come into force from the date of publication in the Official Gazette . 2. In the Companies (Central... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Indian govt introduces key tax reform bill Posted: 23 Mar 2011 03:41 AM PDT 
India's government introduced a wide-ranging tax bill into parliament on Tuesday, but opposition to the move threatened to derail one what is one of the coalition's most ambitious reforms of its second term. In a sign of how corruption scandals are... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
