| Income Tax deduction on your children's education u/s. 80C and 80E of the Income Tax Act, 1961 Posted: 18 Jan 2010 07:21 PM PST The cost of educating our children is rising consistently. It's a matter of concern for all of us. One relief is the tax benefit provided for spending on children's education. The Income Tax Act provides a direct deduction on account of fees paid... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Custom duty notification amending Principal notification 62/94-Customs (NT) dated the 21st November, 1994 Posted: 18 Jan 2010 06:58 PM PST S. O… (E) – In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following further amendment in the... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Custom duty notification amending Principal notification No. 36/2001-Customs (N.T.) dated the 3rd August, 2001 Posted: 18 Jan 2010 06:53 PM PST S. O… (E) – In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following further amendment in the... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| BRI notification regarding maintenance of CRR/SLR Posted: 18 Jan 2010 06:43 PM PST It has been observed that the Regional Rural Banks (RRBs) are not following a uniform practice in reckoning their liability in respect of arrangements with correspondent banks (mainly sponsor banks) for remittance facilities. Under the arrangements,... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| SEBI circular on Advertisement by mutual funds Posted: 18 Jan 2010 06:35 PM PST It is essential for the investors to be aware that the investments made in mutual funds are subjects to risk and that the scheme related documents should be read before investing. Hence it was mandated that statements appearing in Clauses 10, 13 and... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| FM likely to keep the corporate tax rate unchanged at 30% Posted: 18 Jan 2010 06:28 PM PST The finance ministry is likely to keep the corporate tax rate unchanged at 30%, as it faces stiff resistance from companies to the draft direct tax code's proposal to cut the rate to 25% and remove all exemptions. "Corporates are resisting the... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| RBI proposed banks to charge uniform home loan rate to old customers but major banks rejected the proposal Posted: 18 Jan 2010 06:21 PM PST Driven by angry mortgage borrowers, RBI has once again nudged top banks to charge lower home loan rates to old customers instead of just using the lower interest rates to pull new borrowers. But lenders continued to resist the proposal, citing cost... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| 3 Idiots producer expected to pay largest tax paid by a film producer ever Posted: 18 Jan 2010 06:10 PM PST The Income-Tax authorities expect to raise nearly Rs 30 crore from Vidhu Vinod Chopra — the Bollywood film producer, whose recently-produced movie 3 Idiots emerged as the highest grosser in the history of Hindi cinema — for his income in 2009-10. An... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| CBI opposed the bail plea of Price Waterhouse auditor Mr Srinivas Talluri Posted: 18 Jan 2010 05:46 PM PST The CBI on Monday opposed the bail plea of Price Waterhouse auditor Mr Srinivas Talluri who was arrested in Satyam fraud case for allegedly conniving with its founder Mr B Ramalinga Raju and other aides. Additional Solicitor General, Mr Harin Raval... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Personal verification of client's mandatory requirement for opening share trading account Posted: 18 Jan 2010 05:33 PM PST The Securities Exchange Board of India (Sebi) has said that 'in-person' verification of clients is a mandatory requirement for opening account by a depository participant (DP). This will hold good for opening trading account by a stock broker and... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Only first notice on bounced cheque is valid Posted: 18 Jan 2010 10:48 AM PST The Supreme Court has ruled in the case of Tameshwar Vaishanav vs Ramvishal Gupta that if the payee or the holder of the cheque does not file a complaint of dishonour within the prescribed time, he cannot issue a second notice and then file a... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Government may tighten norms governing FDI instruments Posted: 18 Jan 2010 10:45 AM PST The government is planning to tighten norms governing FDI through partly-paid shares, convertible warrants and units issued by venture capital funds (VCFs), as it looks to prevent misuse of these popular instruments. The finance ministry and the... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| ICAI may be splitted Posted: 18 Jan 2010 10:42 AM PST The government is consider reviewing the structure of the apex chartered accountants body in the country, the Institute of Chartered Accountants of India (ICAI), that may result in the separation of its academic and regulatory functions. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| The statistics of CA final result in respect of examination held in November 2009 Posted: 18 Jan 2010 10:36 AM PST The statistics of CA final result in respect of examination held in November 2009 [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Income Tax authorities planning to broaden the tax base Posted: 18 Jan 2010 10:29 AM PST Income Tax authorities are planning to broaden the tax base, seek greater exchange of information under the tax treaties and provide better services to tax payers by 2020 when the direct tax reforms would be firmly in place. The apex direct tax... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| RBI notified relaxation in remittance of salary by foreign nationals working in India Posted: 18 Jan 2010 10:25 AM PST These individuals, according to the RBI, may open, hold and maintain a foreign currency account with a bank outside India and receive the whole salary payable to him for the services rendered to the office/branch/subsidiary/joint venture in India of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Bar councils covered under the purview of Right To Information (RTI) Act Posted: 18 Jan 2010 10:21 AM PST The bar councils are open to public scrutiny under the Right To Information (RTI) Act and should set-up a mechanism to facilitate processing of applications directed to them under the transparency law, the Central Information Commission has held. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Duplication of computer software or processing of recordable media on blank CD amounts to 'manufacture' Posted: 18 Jan 2010 10:07 AM PST Supreme Court (SC) [2010-TIOL-04- SC-IT] in the case of Oracle Software India Ltd. (Taxpayer) on the issue of whether the process of converting a blank compact disc (CD) into a recorded CD, by duplicating the master copy of software on it,... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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