Saturday, December 4, 2010

Fwd: TaxGuru.in : Legal & Tax Updates



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From: LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in>
Date: Sat, Dec 4, 2010 at 10:10 AM
Subject: TaxGuru.in : Legal & Tax Updates
To: palashbiswaskl@gmail.com


TaxGuru.in : Legal & Tax Updates

Link to LEGAL & FINANCIAL  UPDATES FROM TAX GURU

VAT Rate Changes In Chandigarh And West Bengal

Posted: 04 Dec 2010 01:08 AM PST


Chandigarh VAT rate change nbsp Effective 26 October 2010 the basic rates of VAT in Chandigarh has been enhanced as mentioned below nbsp nbsp Particulars Rate up to 25 October 2010 R

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CBI Website Hacked

Posted: 04 Dec 2010 01:04 AM PST


On a day when India s premier investigating agency Central Bureau of Investigation CBI is swamped with the investigation of major corruption cases in a major embarrassment its website has been hacked nbsp People who logged on t

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Government Losing 100 Crore A Day Due To Stoppage Of Production By Cigarette Companies

Posted: 04 Dec 2010 01:01 AM PST


With cigarette manufacturing in the country coming to a halt over the use of pictorial health warnings on packets the government is staring at a potential loss of Rs 100 crore a day despite the fact that India remains among the lo

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If A Product Is Marketable And Has A Shelf Value It Is Liable To Excise Duty- SC

Posted: 04 Dec 2010 12:47 AM PST


The Supreme Court has prescribed a bitter pill for pharmaceutical companies manufacturing vitamins for either marketing or use in other drugs If a product is marketable and has a shelf value it is liable to excise duty the

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Cab Operators In Gurgaon And NCR Under Government Authorities Scanner For Suspected Service Tax Evasion

Posted: 04 Dec 2010 12:42 AM PST


Cab operators based in Gurgaon and the NCR are under the scanner of government authorities for suspected service tax evasion worth crores of rupees According to city authorities Gurgaon has over 2 000 small and medium travel opera

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Interest On Loan Paid By Foreign Company To Carry Out Operation In India Is Allowable

Posted: 04 Dec 2010 12:39 AM PST


If a foreign company pays interest on loan for carrying out operations in India it will be allowed tax exemption under the Income Tax Act 1961 a tax tribunal has ruled This has put to rest uncertainties on application of Thin Cap

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Government Identifies Four More Cross Border Merger And Acquisition Deals Like Vodafone

Posted: 04 Dec 2010 12:31 AM PST


A few cases relating to cross border merger and acquisition deals have been identified for further examination by the Revenue Department These deals are being examined for possible tax implications Some of these cases are

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CVC Disposed Of 830 Cases In October 2010 Major Penalty Proceedings Recommened Against 71 Officers

Posted: 04 Dec 2010 12:27 AM PST


The Central Vigilance Commission disposed of 830 cases during October 2010 referred to it for advice Of these 573 complaints were sent for necessary action ATR whereas 48 complaints were sent for investigation and report No actio

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SEBI Unified Platform For Electronic Reporting And Dissemination

Posted: 04 Dec 2010 12:26 AM PST


SEBI has decided to set up a unified filing and dissemination system called SEBI Unified Platform for Electronic Reporting and Dissemination SUPER-D nbsp The unified filing system is inter alia expected to enable listed compan

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All Eight Accused In Bribe-for-loan Scam Get Bail

Posted: 04 Dec 2010 12:20 AM PST


Nine days after their arrest in a cross-country housing loan scam a special CBI court today granted bail to all the eight accused including LIC Housing Finance CEO Ramchandran Nair after observing that their custody is not requir

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Government Plans Tougher Norms For Public Sector Enterprises Board PSEB

Posted: 03 Dec 2010 11:48 PM PST


The government plans to make bank executives accountable for their actions and decisions even after retirement It has been felt desirable to draft rules and regulations which would govern the conduct of Board level appointees in p

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CVC Sets Up Anti-corruption Hotline

Posted: 03 Dec 2010 11:45 PM PST


THE appointment of CVC may be spewing controversies but the CVC as an institution has been doing its job On the occasion of Vigilance Awareness Week it set up a toll-free hotline number 1800-11-1180 nbsp For this purpose 10 dedic

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Views Solicited On SEBI S Committee Report On Review Of Ownership And Governance Of Market Infrastructure Institutions

Posted: 03 Dec 2010 10:06 AM PST


The Securities and Exchange Board of India SEBI constituted a Committee under the Chairmanship of Dr Bimal Jalan Former Governor Reserve Bank of India to examine issues arising from the ownership and governance of Market Infrast

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RBI Governor Pitches For Streamlining Banking Regulations As Some Provisions Are Confusing

Posted: 03 Dec 2010 10:05 AM PST


Reserve bank governor D Subbarao today pitched for streamlining banking regulations saying some were confusing even though they served the banking system well On the existing arrays of laws in the banking sector he favoured a sing

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Indian Banks Well Capitalised And Can Comfortably Adjust To Basel III Norms

Posted: 03 Dec 2010 10:01 AM PST


The Reserve Bank of India RBI Governor Duvvuri Subbarao said on Friday Indian banks were well capitalised and can comfortably adjust to Basel III norms He also said that there was a strong case to review and recast banking legislatio

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Seeks To Provide Provisional Assessment Of Import Of Bus And Truck Radial Tyres Exported By Certain Companies Of China PR

Posted: 04 Dec 2010 12:56 AM PST


G S R 947 E Whereas in the matter of import of Bus and Truck Radial Tyres hereinafter referred to as the subject goods falling under item numbers 40112010 for tyres and 40131020 and 40129049 for tubes and flaps respec

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Prohibition On Export Of Pulses - Exemption For Export Of 60 MTs Of Pulses To The Republic Of Maldives

Posted: 04 Dec 2010 12:54 AM PST


Notification No nbsp nbsp 11 RE-2010 2009-2014 nbsp New Delhi the 3rd December 2010 nbsp S O E nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp In exercise of the powers conferred by Section 5 of the For

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FCRA NGO

Posted: 02 Dec 2010 05:04 PM PST


FCRA NGO

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