No increase in Income Tax raid and survey in current Financial Year – Govt

PSU oil companies starts showing components of petrol prices on their websites

Posted: 24 Dec 2011 04:38 AM PST

The Public Sector Oil Marketing Companies have started placing details of the components of petrol prices on their websites. The measure will help the people in understanding mechanism of the pricing of petroleum products. The companies include...

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RTO clerk owns property worth R 40 crore

Posted: 24 Dec 2011 02:31 AM PST

A clerk employed with the State Road Transport Authority here was found to own property worth over Rs 40 crore. This came to light during a raid by sleuths of the Madhya Pradesh's Economic Offences Wing (EOW) on Sunday.

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ICAI to take action action against ex-CFO in Satyam case within a week

Posted: 24 Dec 2011 02:12 AM PST

Accounting regulator ICAI today said it will decided the case concerning former CFO of Satyam Computer in the Rs 14,000-crore accounting scam within a week. The disciplinary committee of ICAI will take a decision based on the available documents...

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ICAI recommends that companies be allowed to account for losses arising from foreign exchange derivative trade over several years

Posted: 24 Dec 2011 02:04 AM PST

Apex accounting regulator ICAI has recommended that companies be allowed to account for losses arising from foreign exchange derivative trade over several years. The measure, according to sources, would prevent the companies from showing huge...

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Deferment in the date of effect for implementation of bar-coding on Primary and Secondary level packaging on export consignment of pharmaceuticals and drugs

Posted: 24 Dec 2011 01:46 AM PST

Public Notice No. 87 (RE-2010)/2009-2014 - In exercise of the powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-14, as amended from time to time, Director General of Foreign Trade hereby makes following amendments in Public...

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Amends Notification No. 15/2008-Customs, dated the 5th February, 2008

Posted: 23 Dec 2011 08:20 PM PST

Notification No.112/2011-Customs- G.S.R. 890 (E). -In exercise of the powers conferred by sub-section (1) and sub-section (5) of section 9A of the Customs Tariff Act, 1975 (51 of 1975) read with rules 18 and 20 of the Customs Tariff...

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Corrigendum to Notification 110/2010 – Customs, dated October 19, 2010

Posted: 23 Dec 2011 08:10 PM PST

In the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 110/2010-Customs, dated the 19th October, 2010 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number...

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No increase in Income Tax raid and survey in current Financial Year – Govt

Posted: 23 Dec 2011 08:00 PM PST

It is informed that under the Income Tax Act, search and seizure is conducted on the basis of specific and credible information regarding tax evasion, and after conducting necessary verification. Information technology tools, such as CASS and ITDMS,...

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