Fwd: TaxGuru.in : Legal & Tax Updates

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From: LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in>
Date: Tue, Nov 23, 2010 at 9:52 AM
Subject: TaxGuru.in : Legal & Tax Updates
To: palashbiswaskl@gmail.com

TaxGuru.in : Legal & Tax Updates

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• Transfer Funds To Any Bank Account Via Mobile Phone
• CAG Instructs Government Not To Destroy CWG Records Till End Of Audit
• Major Aacouting Standards On Financial Instruments Are Incomplete Unwarranted And Some Even Illogical
• Supreme Court Question Appointment P J Thomas As The Chief Vigilance Commissioner
• ICAI Issues Revised Guidelines For Training Of Articled Assistant Outside India
• Electric Cars To Get Cheaper By Rs 1 Lakh On Govt Incentive Package
• VAT Refund Claims To Be Cross-checked - Sanjay Bhatia
• Income-Tax And Customs Departments Facing Nearly 50 Per Cent Staff Shortage
• SEBI Asks Asset Management Companies To Simplify New Fund Offers
• IFRS Leeway To Offer Realty Check
• IRDA Will Soon Issue Circular On IPO Guidelines For Life Insurance Companies
• Uncertainty In Telecom Sector Makes Bankers Who Taken Exposure In Sector Worried
• To Recover Loans Bank Showing Defaulting Customers Fear Of Reporting Their Name To The Credit Information Bureau
• RBI Allows Urban Cooperative Banks To Lend More With Regard To Home Loans And Advances To The Realty Sector
• Rollout Of Point Of Taxation Rules Likely To Be Pushed To Next Financial Year
• Draft Scheme Of On Site Audit In Context Of Post Clearance Audit PCA For Imports
• Indian Power Sector
• Gold And Its New Relatives
• Law Of Arbitration In Relation To A Proceeding Under Section 397 398 Of Companies Act 1956
• Deduction U S 80DD In Respect Of Expenses Incurred On Maintenance Medical Treatment Of A Disabled Dependant
• Egarding Anti Dumping Duty On Polypropylene Originating In Or Exported From Oman Saudi Arabia And Singapore
• Limited Liability Partnership Second Amendment Rules 2010 - Substitution Of Form 10 In The Annexure
• Easy Income Tax TDS Preparation Software Fy 2010-2011 For Salaries Person
• Prepare Your Income Tax TDS FY 2010-2011 With Salary Statement ITR-I Form-16 10E HRA Exemp Calculation

Transfer Funds To Any Bank Account Via Mobile Phone Posted: 23 Nov 2010 12:56 AM PST In a new service that is set to revolutionise the retail money payment sector in India consumers will now be able to transfer money from their accounts to any other account in the country using their cellphones via the National Paymen [[ This is a content summary only. Visit www.taxguru.in for full article ]]

CAG Instructs Government Not To Destroy CWG Records Till End Of Audit Posted: 23 Nov 2010 12:50 AM PST Government auditor the Comptroller and Auditor General of India has written to the Cabinet Secretary to ensure that no records from the office of the Commonwealth Games organising committee are removed till the audit is complete The C [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Major Aacouting Standards On Financial Instruments Are Incomplete Unwarranted And Some Even Illogical Posted: 23 Nov 2010 12:46 AM PST Brushing aside fears that it was sacrilegious to criticise established accounting standards in a room packed with hundreds of chartered accountants Gautam Doshi group managing director of Reliance-Anil Dhirubhai Ambani Group [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Supreme Court Question Appointment P J Thomas As The Chief Vigilance Commissioner Posted: 23 Nov 2010 12:37 AM PST The Supreme Court has questioned the appointment P J Thomas as the Chief Vigilance Commissioner Questioning the appointment the apex court said how Thomas would work as CVC since a chargesheet naming him is pending in a criminal case [[ This is a content summary only. Visit www.taxguru.in for full article ]]

ICAI Issues Revised Guidelines For Training Of Articled Assistant Outside India Posted: 23 Nov 2010 12:24 AM PST The Institute while considering the difficulties being faced by overseas members in providing training to articled assistants has issued the revised guidelines and FAQs for training of articled assistant outside India Please vi [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Electric Cars To Get Cheaper By Rs 1 Lakh On Govt Incentive Package Posted: 23 Nov 2010 12:22 AM PST Electric cars may become cheaper by up to Rs 1 lakh with manufacturers expected to pass on to the consumers the benefits of the Rs 95-crore incentive package extended by the Government to the industry This subsidy will be applic [[ This is a content summary only. Visit www.taxguru.in for full article ]]

VAT Refund Claims To Be Cross-checked - Sanjay Bhatia Posted: 22 Nov 2010 11:56 PM PST The Maharashtra Sales Tax department is taking steps to apply more caution while disposing of VAT refund applications following discovery of a major refund scam involving officers of the department and traders in Palghar recently Spea [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Income-Tax And Customs Departments Facing Nearly 50 Per Cent Staff Shortage Posted: 22 Nov 2010 11:52 PM PST Income-Tax and Customs Departments are facing a nearly 50 per cent staff shortage at the senior levels This was stated here on Saturday by the Revenue Secretary Mr Sunil Mitra on the sidelines of Fostering trade led growth strat [[ This is a content summary only. Visit www.taxguru.in for full article ]]

SEBI Asks Asset Management Companies To Simplify New Fund Offers Posted: 22 Nov 2010 11:49 PM PST Concerned that mutual fund schemes are becoming too complex for average investors capital market regulator Sebi has asked several asset management companies to rework some proposed new schemes and file offer documents afresh More tha [[ This is a content summary only. Visit www.taxguru.in for full article ]]

IFRS Leeway To Offer Realty Check Posted: 22 Nov 2010 11:35 PM PST In a move that will bring a major relief to real estate firms such as DLF and Unitech the corporate affairs ministry has decided to dilute a key provision in the new accounting standards IFRS which will allow real estate compani [[ This is a content summary only. Visit www.taxguru.in for full article ]]

IRDA Will Soon Issue Circular On IPO Guidelines For Life Insurance Companies Posted: 22 Nov 2010 11:32 PM PST The Chairman of Insurance Regulatory and Development Authority Mr J Hari Narayan on Friday said the initial public offering IPO guidelines for life insurance companies have been approved by the Securities and Exchange Board of Ind [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Uncertainty In Telecom Sector Makes Bankers Who Taken Exposure In Sector Worried Posted: 22 Nov 2010 11:28 PM PST As the uncertainty following the Comptroller and Auditor General s CAG report on telecom companies continues bankers who have taken exposure to these companies are getting the jitters The plan of action ranges from drawdown of loan [[ This is a content summary only. Visit www.taxguru.in for full article ]]

To Recover Loans Bank Showing Defaulting Customers Fear Of Reporting Their Name To The Credit Information Bureau Posted: 22 Nov 2010 11:19 PM PST To recover dues bankers are trying to put the fear of God into obstinate defaulters to pay up And how By making it plain that they could get reported to the Credit Information Bureau bankers have been able to achieve a modicum of s [[ This is a content summary only. Visit www.taxguru.in for full article ]]

RBI Allows Urban Cooperative Banks To Lend More With Regard To Home Loans And Advances To The Realty Sector Posted: 22 Nov 2010 11:15 PM PST Urban cooperative banks UCBs have been allowed to lend more freely now especially with regard to home loans and advances to the realty sector The new rules were part of a slew of notifications by Reserve Bank of India easing the no [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Rollout Of Point Of Taxation Rules Likely To Be Pushed To Next Financial Year Posted: 22 Nov 2010 11:09 PM PST The Point of Taxation rules which will allow tax authorities to link the payment of service tax to provision of service raising of invoice or payment for service whichever is the earliest may not be introduced in this financi [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Draft Scheme Of On Site Audit In Context Of Post Clearance Audit PCA For Imports Posted: 22 Nov 2010 02:42 PM PST INTRODUCTION A good beginning makes a good end Hope this comes true for the draft scheme of On site audit Export-Import is an important determinant of growth of a country A strict policy regarding the import-export [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Indian Power Sector Posted: 22 Nov 2010 02:36 PM PST Power Conference 2010 held in Hyderabad Andhra Pradesh The conference was organized by Confederation of Indian Industry and was attended by over 200 delegates from various central and state utilities like NTPC NHPC PGCIL KPTCL a [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Gold And Its New Relatives Posted: 22 Nov 2010 02:20 PM PST Three thousand year old traditional colors of hoarding stores of wealth that are physical portable and easily devisable are hard to break This report is not a speculative figure or number guessing It brings you the fundamenta [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Law Of Arbitration In Relation To A Proceeding Under Section 397 398 Of Companies Act 1956 Posted: 22 Nov 2010 05:32 AM PST A brief nbsp Alternative Dispute Resolution Mechanism ADR is encouraged in view of the fact that there exists an unreasonable delay in the Courts nbsp Among the other modes of Alternative Dispute Resolution ADR dispute re [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Deduction U S 80DD In Respect Of Expenses Incurred On Maintenance Medical Treatment Of A Disabled Dependant Posted: 20 Nov 2010 11:22 AM PST In Past few years cost of medical treatment has shoot up very sharply and has made medical treatment almost out of reach of Lower and Middle class families in India Government of India has in order to provide some relief to th [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Egarding Anti Dumping Duty On Polypropylene Originating In Or Exported From Oman Saudi Arabia And Singapore Posted: 23 Nov 2010 12:33 AM PST Notification No 119 2010-Customs New Delhi 19th November 2010G S R E - Whereas in the matter of imports of Polypropylene hereinafter referred to as the subject goods falling under sub heading 39021000 or 39023000 [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Limited Liability Partnership Second Amendment Rules 2010 - Substitution Of Form 10 In The Annexure Posted: 22 Nov 2010 10:57 PM PST Limited Liability Partnership Second Amendment Rules 2010 - Substitution of Form 10 in the AnnexureNotification No G S R 914 E dated 15-11-2010In exercise of the powers conferred by sub-sections 1 and 2 of section 79 of the [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Easy Income Tax TDS Preparation Software Fy 2010-2011 For Salaries Person Posted: 21 Nov 2010 08:11 PM PST Preparation of Income Tax TDS for Salaries Person for financial year 2010-2011 It can provide you at a time and automated Calculation of Income Tax with Salary Statement Form 16 ITR-I Relief U s 89 HRA Exempt Calculation also If you [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Prepare Your Income Tax TDS FY 2010-2011 With Salary Statement ITR-I Form-16 10E HRA Exemp Calculation Posted: 21 Nov 2010 08:05 PM PST If you have need a preparation of Income Tax TDS Calculation Software in Excel for Salaries Person you can see as well as choose this Software If you have need This Software please Contact with me by mail - pranab banerjee83 gmail c [[ This is a content summary only. Visit www.taxguru.in for full article ]]

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Palash Biswas
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