Tuesday, October 12, 2010

Fwd: TaxGuru.in : Legal & Tax Updates



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From: LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in>
Date: Tue, Oct 12, 2010 at 1:50 PM
Subject: TaxGuru.in : Legal & Tax Updates
To: palashbiswaskl@gmail.com


TaxGuru.in : Legal & Tax Updates

Link to LEGAL & FINANCIAL  UPDATES FROM TAX GURU

Why DTC Is Negative For Life Insurance Companies And Policyholders

Posted: 12 Oct 2010 02:49 AM PDT


Presently deductions under Section 80C are available up to 1 lakh for various investment instruments including premium paid for life insurance provident fund etc Under the DTC only sums paid to towards a contract for an a

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Government Announces New Service Tax Payment Scheme For Lottery Ticket Distributors

Posted: 12 Oct 2010 02:41 AM PDT


The Finance Ministry has come up with an optional composition scheme for service tax payment on promotion or marketing of lotteries Budget 2010-11 had introduced service tax levy on the services of promoting marketing or organisi

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Can T Evict Those Against Redevelopment Without Fulfilling The Terms Of The Development Agreement- Bombay HC

Posted: 12 Oct 2010 02:35 AM PDT


Ruling in favour of a minority group of members opposing redevelopment of their housing society the Bombay High Court on Thursday held that the developer could not seek their eviction without fulfilling the terms of the developme

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Individuals Engaged In Mining Business Emerges As Country S Top Taxpayers

Posted: 12 Oct 2010 02:30 AM PDT


Individuals engaged in the mining business have emerged the country s top taxpayers along with film stars professionals top-notch CEOs and promoters of large corporations These individuals most of whom are prominent politician

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RBI Mulls New ECB Rules For Escrow Account Mechanism

Posted: 12 Oct 2010 02:27 AM PDT


THE banking regulator has questioned deals that foreign investors often strike with Indian companies to protect their money Foreign strategic investors regularly enter into an arrangement where local firms and promoters keep aside

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Chambers Pitch For Corporates Into The Banking Ring

Posted: 12 Oct 2010 02:23 AM PDT


Industry chambers today strongly pitched for corporates entering the banking space with all of them stating that a lower capital requirement would be detrimental in the long-run and that deep-pocket industrial houses with good trac

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Smaller Companies Embracing Limited Liability Partnership Structure In A Big Way

Posted: 12 Oct 2010 02:21 AM PDT


Smaller companies in computer services real estate and trade activities are embracing the limited liability partnership structure in a big way while large professional firms are staying away due to a lack of regulatory clarity on

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India Would Intervene In Foreign Exchange Markets If Needed RBI

Posted: 12 Oct 2010 02:18 AM PDT


India would intervene in the foreign exchange markets if needed to maintain stability the central bank s governor said during a panel discussion at the International Monetary Fund in Washington on Saturday Foreign institution

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RBI To Issue Rs 5 And Rs 2 Coins With CWG Theme

Posted: 12 Oct 2010 02:13 AM PDT


The Reserve Bank today said it will issue new coins of Rs 5 and Rs 2 to commemorate the ongoing Commonwealth Games in New Delhi The RBI will shortly put into circulation coins of Rs 5 and Rs 2 with the theme XIX Commonwealth Games

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Pranab Mukherjee Bags The Award For Finance Minister Of The Year For Asia

Posted: 12 Oct 2010 01:47 AM PDT


India s Finance Minister Shri Pranab Mukherjee has won this year s award for Finance Minister of the Year for Asia nbsp This year s award is based on nominations from public and private sector economists analysts bankers invest

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GST Scheme Likely To Be Placed In Winter Session

Posted: 12 Oct 2010 01:44 AM PDT


Difference of opinion among some states with regard to the Goods and Services Tax GST scheme for the country was being narrowed down and the Constitutional Amendment Bill is likely to be placed in the winter session of Parliament

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Government Rationalises Service Tax On Lottery Tickets

Posted: 12 Oct 2010 01:42 AM PDT


The government has rationalised the service tax liability on sellers and distributors of lottery tickets by giving them the option to pay tax at flat rate based on the face value of tickets nbsp Under the new scheme a distribu

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Department May Soon Determine Service Tax Liability Of Kings XI Punjab

Posted: 12 Oct 2010 01:37 AM PDT


Even after termination of the franchisee agreement with Kings XI Punjab by BCCI KPH Dreams which owns the T20 team is still not out of trouble it seems as the Central nbsp Excise Department on Monday said it would pass an order w

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HC Rejects RIL Plea To Quash CBI Case Against It

Posted: 12 Oct 2010 01:32 AM PDT


The Delhi High Court has cleared the decks for trial against Reliance Industries relating to seizure of classified documents from its office in 1998 by rejecting its plea that the case was time-barred nbsp The company is facin

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Corruption On High Nothing Moves Without Money- Supreme Court

Posted: 12 Oct 2010 01:30 AM PDT


Stating that nothing moves without money the Supreme Court has expressed concern over the growing corruption in government machinery particularly in the Income Tax Sales Tax and Excise departments nbsp It is very unf

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Election Commission Of India ECI Joins Hands With Income Tax I-T Department

Posted: 12 Oct 2010 01:26 AM PDT


In yet another measure to curb the influence of money during elections the Election Commission of India ECI has joined hands with the Income Tax I-T department and its vigilance arm said Chief Election Commissioner S Y Quraish

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CAG To Restart Audit Of Expenses Incurred For The Commonwealth Games

Posted: 12 Oct 2010 01:23 AM PDT


The Comptroller and Auditor General CAG of India will restart audit of expenses incurred for the Commonwealth Games on October 15 The audit agency will submit its report within three months The CAG had earlier suspended the

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How To Know PAN File IT Return Open Acknowledgement Of HUF If Incorporation Date In PAN Card Mentioned As ANCESTRAL

Posted: 12 Oct 2010 01:09 AM PDT


Recently I have faced a very interesting situation I have to file ITR of one of my client online My client is a HUF and his turnover is more then Tax Audit limit so as per Recent Income tax circular I was required to file his Inc

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Transfer Fee And Non Occupancy Charges Received From The Members Are Not Taxable On The Principle Of Mutuality

Posted: 12 Oct 2010 01:59 AM PDT


Whether the Hon ble Tribunal erred in holding that the contribution to Common Amenity Fund Repairs Welfare Fund being the first contribution made by the existing new member is transfer fee as in the case of Walkeshwar Triveni Cooper

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Import Policy Of Fish Body Oil- DGFT Notification No 08 RE-2010 2009-2014

Posted: 12 Oct 2010 02:55 AM PDT


Notification No nbsp 08 RE-2010 2009-2014 nbsp New Delhi The 8th October 2010 nbsp Subject nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp Import policy of fish body oil nbsp S O E nbsp nbsp nbsp nbsp nbsp nb

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Clarification On The Procedure To Re-credit 4 Percent Special Additional Duty SAD Of Customs In DEPB VKGUY FPS FMS MLFPS Scrips

Posted: 12 Oct 2010 02:52 AM PDT


Policy Circular No 02 2009-2014 RE 2010 Dated 8th October 2010 Subject Clarification on the procedure to re-credit 4 Special Additional Duty SAD of Customs in DEPB VKGUY FPS FMS MLFPS scrips regarding

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Palash Biswas
Pl Read:
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