UPDATES FROM TAX GURU 23.07.2009

UPDATES FROM TAX GURU  Large corporate taxpayers (LTU) get personalised attention `Happy to help you' may remind you of the famous ad of a private telecom services company, but the Income Tax (I-T) department is also eager to tell large corporate taxpayers roughly the same thing.So, client executives and relationship... Public Provident Fund (PPF) scheme : Investment Limit, Income tax benefit, Features The Public Provident Fund is the darling of all tax saving investments..No wonder! You invest in it and you get a deduction on your income. Besides, the interest you earn on it is tax-free. Since it is a scheme run by the Government of India, it is... Period for which books of account need to be kept under different Laws Companies Act, 1956 ? A company is required to maintain its books of account and vouchers for a period of 8 years immediately preceding the current year. ? Licensed Companies u/s 25 of The Companies Act, 1956 is required to maintain its books of... SEBI prohibit listed companies from issuing shares with superior rights SEBI/CFD/DIL/LA/2/2009/21/7 July 21, 2009 The Managing Director/ Executive Director/ Administrator of all the Stock Exchanges Dear Sir/Madam, Sub.: Amendments to the Equity Listing Agreement 1. It has been decided to amend the Equity Listing... SEBI abolished no-delivery period for all types of corporate action The Securities and Exchange Board of India, the markets watchdog, has done away with a no-delivery period for all types of corporate actions for scrips that are traded in the compulsory dematerialised mode and accordingly, short deliveries, if... SC to decide on 'dividend stripping' by mutual funds for creating a short-term loss to avoid tax The Supreme Court will decide whether mutual fund brokers can resort to a process (dividend stripping) of creating a short-term loss to avoid tax. A Bench headed by Justice S H Kapadia has issued notice broking firms on a batch of petitions filed by... Service tax topics to be omitted and to be asked in November 2009 Examination for CA Final & PCE Students Announcement for November 2009 examinations Professional Competence Examinations It is clarified that in Part –II : Service tax and VAT of Paper 5 : Taxation, students will not be tested on specific questions covering individual taxable services. ... With Regards,  CA Sandeep Kanoi  Website: http://www.taxguru.in/  Get LEGAL & FINANCIAL UPDATES FROM TAX GURU delivered by emai

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