| DENA BANK – empanelment for Concurrent Audit assignment for the year 2011-12 Posted: 12 Apr 2011 08:20 PM PDT Ref : Web based registration of External Chartered Accountant firms for empanelment for Concurrent Audit assignment for the year 2011-12 Our Bank has invited online applications for empanelment for Concurrent Audit assignment for the year 2011-12.... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000 Posted: 12 Apr 2011 08:15 PM PDT Under the existing scheme of law, Rule 7 of the Service tax Rules, 1994 read with its sub-rules deals with the provisions relating to the service tax return. As per Rule 7C; where the return prescribed under rule 7 is furnished after the date... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| 'Govt to soon notify Sugam IT form for small taxpayers' Posted: 12 Apr 2011 07:10 PM PDT The Income Tax department has refunded as much as Rs 72,000 crore to tax payers across the country in 2009-10, Central Board of Direct Taxes (CBDT) Chairman Sudhir Chandra said here. "The Income Tax department has improved its tax refund rate and Rs... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Govt issues Rs 72,000-cr income tax refunds in 2009-10 – CBDT Posted: 12 Apr 2011 07:08 PM PDT The Income Tax department has refunded as much as Rs 72,000 crore to tax payers across the country in 2009-10, Central Board of Direct Taxes (CBDT) Chairman Sudhir Chandra said here. "The Income Tax department has improved its tax refund rate and Rs... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| New norms on hiring relatives in companies Posted: 12 Apr 2011 05:59 PM PDT The government has released norms for appointment of relatives in companies, a decision that will allow directors or managers to engage services of close ones without seeking permission of the Centre. A company, however, will be required to seek the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Companies (Particulars of Employees) Amendment Rules, 2011 – Reporting Limit U/s. 217(2A) raised Posted: 12 Apr 2011 05:33 PM PDT [TO BE PUBLISHED IN THE GAZETTE OF INDIA, PART II, SECTION 3, SUB SECTION (i) ] GOVERNMENT OF INDIA, MINISTRY OF CORPORATE AFFAIRS New Delhi, the 31 March, 2011 NOTIFICATION G.S.R. .- In exercise of the powers conferred by sub-section (2A) of... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Value Based Exemption Scheme for SSI – Garments – Clarifications and Simplification Posted: 12 Apr 2011 09:48 AM PDT The issue of excise duty on readymade garments, the applicability of SSI exemption notifications and many such other issues were discussed in my last article VALUE BASED EXEMPTION SCHEME FOR SSI - GARMENTS . Since the time of publication of this... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| CA, CS and ICWA allowed to upload certified co documents without MCA" nod Posted: 12 Apr 2011 09:22 AM PDT Chartered accountants, cost accountants and company secretaries can now directly upload certified annual documents of firms on MCA''s portal, without prior approval of the ministry, while holding them responsible for such submissions. The move is... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Word "partnership" in ICAI, ICWAI, ICSI Acts include LLPs Posted: 12 Apr 2011 09:13 AM PDT General Circular No. 10/2011 - The Acts governing the three professional Institutes define in Section 2 members who are deemed to be in practice. In all the three Acts, there is a provision for a member to be in practice when he is in partnership... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Income Tax Scrutiny – Instructions regarding income limits for assigning cases to Deputy Commissioners/Assistant Commissioners/ITOs Posted: 12 Apr 2011 06:39 AM PDT INSTRUCTION NO. 6/2011 [F.NO.187/12/2010-ITA-I], DATED 8-4-2011 Reference may kindly be made to Board's Instruction No. 1/11, dated 31-1-2011 which lays down revised monetary limit of cases to be assessed by DCsIT/ACsIT in metro cities and mofussil... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Illegitimate Child will have right to whatever becomes the property of their parents whether self acquired or ancestral Posted: 12 Apr 2011 05:35 AM PDT Citation - REVANASIDDAPPA & ANOTHER VERSUS MALLIKARJUN & OTHERS (SC) - Section 16(3) of the Hindu Marriage Act as amended, does not impose any restriction on the property right of Illegitimate Child except limiting it to the property of... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Large number of transactions can not be the sole criterion to treat Profit from Shares as business income Posted: 12 Apr 2011 04:31 AM PDT Nagindas P. Sheth (HUF) vs. ACIT (ITAT Mumbai) -Merely because assessee transacted in 158 shares that should not be taken as a sole criterion to come to the conclusion that assessee is a trader in shares. It is not in dispute that in the books of... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Amends Notification No. 61/94-Customs (NT) – Customs airports — Appointment for specified purposes Posted: 12 Apr 2011 01:23 AM PDT Notification No. 29/2011 - Customs (N.T.) dated -11-04-2011 - Central Government hereby makes the following further amendment in the notification No. 61/94-Customs (NT), dated the 21st November, 1994, namely (i) In the said notification, in the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Statement by PM prior to his departure for China to participate in BRIC Summit-2011 Posted: 11 Apr 2011 10:50 PM PDT In China, I will attend the BRICS Leaders Meeting in Sanya being hosted by President Hu Jintao. This is the third Summit of the BRICS grouping since the first stand alone meeting in 2009. This meeting will see the participation for the first time of... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| JK govt detects 3,045 cases of tax evasion in '09-10 Posted: 11 Apr 2011 09:55 PM PDT The Jammu and Kashmir government has detected 3,045 cases of evasion of tax by various trade and business houses in the state in 2009-10.Revealing this in its report on state finances for the year ended March 31, 2010, Comptroller and Auditor... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Trade deficit with China matter of concern – India Posted: 11 Apr 2011 09:47 PM PDT Ahead of the meeting between Prime Minister Manmohan Singh and Chinese President Hu Jintao, India today said trade imbalance in favour of China was a matter of concern and India had sought greater market access to bridge it. The issue is expected to... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Promotion can not be denied on the ground of Minor punishment Posted: 11 Apr 2011 09:46 PM PDT S. Ponniah Vs The Director General of Police and The Commissioner of Police - Writ Petitions are filed under Article 226 of the Constitution of India praying to issue a Writ of Mandamus directing the respondents to promote the petitioners for... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| RBI penalises two Gujarat-based cooperative banks for violation of various rules Posted: 11 Apr 2011 09:45 PM PDT The Reserve Bank has imposed penalty of Rs 1 lakh each on two Gujarat-based cooperative sector lenders for violation of various rules, including anti-money laundering guidelines. The two banks are -- the Surat-headquartered Rander People's... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| India Post to provide details online of parcels held by custom Posted: 11 Apr 2011 09:33 PM PDT The Department of Post is working on providing details of parcels received by its by its international partners or sent through it to international destinations. "As part of mail tracking systems introduced by us, we will add details of parcels held... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| FinMin asks DoT to Probe role of telcos in tape leakage Posted: 11 Apr 2011 09:30 PM PDT Amid controversy over leakage of telephonic conversations involving top industrialists, corporate lobbyist Niira Radia and others, the Finance Ministry has asked the DoT to enquire into the conduct of telecom operators and identify individuals... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Finance Ministry to meet PSU bankers on April 26 Posted: 11 Apr 2011 09:29 PM PDT Finance Ministry will hold annual performance review of public sector banks here on April 26 to evaluate various aspects including non-performing assets and financial inclusion. The meeting will chaired by Financial Services Secretary S K Sharma... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Eros case – SC declines film traders' plea against Competition Commission of India(CCI) Posted: 10 Apr 2011 09:31 PM PDT The Supreme Court has declined to admit a plea by the Central Circuit Cine Association, an apex body of film traders, challenging investigations against it by the fair trade regulator Competition Commission of India(CCI). The association moved the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Mukesh Ambani gets Bank of America shares as director fees Posted: 10 Apr 2011 09:29 PM PDT Bank of America has given shares worth nearly Rs 11 lakh to Mukesh Ambani as part of annual retainer fee to the billionaire industrialist, who joined the US banking giant's board last month. Ambani may get a total of over Rs 1 crore of annual... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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