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TaxGuru.in : Legal & Tax Updates 24.07.2010

Posted by kanoisandeep | Friday, July 23, 2010

TaxGuru.in : Legal & Tax Updates

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ICAI likely to declare Results of May 2010 PE – II, PCE and IPCE examinations on 4th August, 2010 around 2 P.M.

Posted: 23 Jul 2010 08:36 PM PDT


The results of the Chartered Accountants Professional Education – II, Professional Competence Examinations and Integrated Professional Competence Examination held in May, 2010 are likely to be declared tentatively on Wednesday, the 4th August, 2010...

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ICAI solicits View on SEBI Report -Takeover Regulations

Posted: 23 Jul 2010 08:31 PM PDT


The Securities and Exchange Board of India (SEBI) has constituted the Takeover Regulations Advisory Committee under the Chiarmanship of Mr. C. Achutan with the mandate to examine and review the Takeover Regulations of 1997 and to suggest the...

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Notification No. 61/2010-Section 80-IA of the Income-tax Act, 1961 – Deductions – Profits and gains from industrial infrastructure undertakings, etc. – Notified undertakings

Posted: 23 Jul 2010 08:30 PM PDT


Whereas the Central Government in exercise of the powers conferee by clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as the said Act), has framed and notified a scheme for industrial...

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SEBI circular on Market Access through Authorised Persons

Posted: 23 Jul 2010 08:12 PM PDT


Pursuant to SEBI circular no. MIRSD/DR-1/Cir-16/09 dated November 06, 2009 prescribing the framework governing the market access through Authorised Persons of the stock brokers, SEBI has received representations from the stock exchanges and market...

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Central Excise Notification No 30/2010, 22-07-2010, Amends Notification No.64/95-Central Excise, dated the 16th March, 1995

Posted: 23 Jul 2010 08:06 PM PDT


(i) in paras (a) and (b), for the words " Indian Oil Corporation Limited" wherever they occur , the words "any public sector oil company" shall respectively be substituted; (ii) in the proviso, for the words " Indian Oil...

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RBI sets up Working Group to address Implementation Issues in IFRS

Posted: 23 Jul 2010 07:55 PM PDT


The Reserve Bank of India has constituted up a Working Group under the Chairmanship of Shri P R Ravi Mohan, Chief General Manager, Department of Banking Operations & Development (DBOD), Reserve Bank of India, to address the implementation...

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New Internet protocol by December 2011

Posted: 23 Jul 2010 07:33 PM PDT


The Government has set a deadline of December 2011 for major telecom operators to adopt the next generation protocol for Internet services in the country.Called Internet Protocol version 6 (IPv6), the new standard will offer improved address space,...

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A Bug in I-T department's computer system causing erroneous tax demand, here's what to do if you receive demand letter

Posted: 23 Jul 2010 07:26 PM PDT


Mumbai : Nowadays Income Tax Department is issuing letters to taxpayers demanding them to pay tax which they already paid. These letters being sent out as a result of the income-tax department moving on to a computerised system, wherein taxes cut by...

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CBDT geared up to celebrate 150 years of income tax in India

Posted: 23 Jul 2010 07:13 PM PDT


THE CBDT is truly excited and fully geared up to celebrate 150 years of income tax in India. The Governor General of India accorded to the bill levying the tax, introduced by James Wilson, the first Finance Member in Council, on 24th July 1860. The...

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Free of cost tool kit to all the members and CA Firms by ICAI committee for capacity building

Posted: 23 Jul 2010 07:10 PM PDT


Committee for Capacity Building CA Firms and Small & Medium Practitioners, ICAI launches Audit Toolkit (KDOC-eSecretary) and made arrangement for access to Capitaline TP Database for transfer pricing.Audit Tool Kit & Document Management...

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CBI booked PF commissioner for causing loss of Rs. 24.91 crores to Government

Posted: 23 Jul 2010 07:00 PM PDT


THE Central Bureau of Investigation has registered a case against the then Regional Provident Fund Commissioner-II(EPFC-II), Employees Provident Fund Organisation(EPFO), Sub-Regional Office, Vashi (Maharashtra), now posted at Thane, EPFO and the...

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Forum for National Security Studies, New Delhi approved as scientific research associations/institutions u/s. Section 35(1)(ii) of the Income-tax Act, 1961

Posted: 23 Jul 2010 06:57 PM PDT


The approved organization shall maintain separate books of accounts in respect of the sums received by it for scientific research, reflect therein the amounts used for carrying out research, get such books audited by an accountant as defined in the...

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Failure to follow High Court's order is contempt of court

Posted: 23 Jul 2010 06:44 PM PDT


The AO passed an assessment order in which he declined to follow the judgement of the Bombay High Court in CST vs. Pee Vee Textiles 26 VST 281 on the ground that the said judgement "is not accepted by the Sales Tax Department and legal proceeding is...

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Foreign Investment Promotion Board (FIPB) approves 18 Proposals of Foreign Direct Investment

Posted: 23 Jul 2010 05:46 PM PDT


Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on July 12, 2010, Government has approved 18 Proposals of Foreign Direct Investment amounting to Rs. 2245.32 Crore approximately.

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Information Systems Audit [ISA] Assessment Test – Results likely to be declared on 4th August, 2010 around 2.00 PM

Posted: 23 Jul 2010 05:23 PM PDT


The result of the Information Systems Audit [ISA] Assessment Test held on 26th June, 2010 is likely to be declared tentatively on 4th August, 2010 around 2.00 PM at the Institute's office at New Delhi. The result of the above Assessment Test will be...

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MAC, CMC, TMC, IRM and ITL & WTO Examinations – Result likely to be declared tentatively on 4th August, 2010 around 2 P.M

Posted: 23 Jul 2010 05:19 PM PDT


The results of the Management Accountancy Course (Part-I), Corporate Management Course (Part – I), Tax Management Course (Part-I), Insurance and Risk Management [IRM] and International Trade Laws & World Trade Organisation [ITL & WTO]...

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With Regards, 
CA Sandeep Kanoi 
Website: http://www.taxguru.in/ 
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