| All about payment of Payment of Gratuity Act 1972 in brief including the recent amendments Posted: 26 Jul 2010 08:54 PM PDT 
The Payment of Gratuity Act 1972:- Gratuity is a voluntary Payment made by the employer to the employee in recognition of continuous, meritorious services and sincere efforts by the employee towards the organization.It is governed under the Payment... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| Takeover Regulations — Proposed Makeover Posted: 26 Jul 2010 08:33 PM PDT 
The Takeover Advisory Committee has proposed to replace the Securities Exchange Board of India ("SEBI") (Substantial acquisition of shares and takeovers) Regulations, 1997 ("Takeover Code") in line with international standards and changing economic... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| Take-out finance scheme for infrastructure sector – liberalisation of External Commercial Borrowing policy Posted: 26 Jul 2010 08:21 PM PDT 
Keeping in view the special funding needs of the infrastructure sector, Reserve Bank of India ("RBI") has issued a Circular (A.P. (DIR Series) Circular No. 4 dated 22 July, 2010) ' to liberalise the above refinancing restriction under a Take-out... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| Arbitration and Conciliation Act applies to non-commercial disputes also Posted: 26 Jul 2010 08:20 PM PDT 
The Supreme Court has stated that the Arbitration and Conciliation Act would apply to all civil disputes, and not merely to commercial disputes. It set aside the view of the Karnataka high court in the case, H Srinivas Pai vs H V Pai, in which the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| Default u/s 194C does not result in s. 40(a)(ia) disallowance if TDS paid before due date of filing ROI Posted: 26 Jul 2010 08:18 PM PDT 
The assessee made payments to sub-contractors during the previous year and though s. 194C requires TDS at the stage of payment/credit, did not do so. The tax was, however, deducted on 31st March and paid over in Sept before the due date for filing... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| ICAI Discontinues CA Final Examination under the old syllabus Posted: 26 Jul 2010 08:17 PM PDT 
Students are hereby informed that the CA Final (Old) Course shall be discontinued with the holding of the November, 2010 examination. In other words, November, 2010 examination will be the last attempt available to Final (Old) students and no... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| Kapil Sibal unveils prototype for $35 touch-screen computer Posted: 26 Jul 2010 08:16 PM PDT 
Here we go again! India's Human Resource Development Minister Kapil Sibal has "launched" a $35 computer, evidently a "dream project" of his. The touch-screen, Linux-based device looks iPad-inspired, but we know little about how it works. [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| CAG report suggests Massive tax evasion may upset GST rollout Posted: 26 Jul 2010 07:40 PM PDT 
While the government is lobbying hard with Opposition parties to implement Goods and Services Tax (GST) from April next year, a study carried out to assess the current tax base in states and the compliance level could upset its gameplan. The study... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| SEBI mulls separate days for retail and institutional investors Posted: 26 Jul 2010 07:16 PM PDT 
As part of efforts to attract more retail investors to the stock market, Sebi is considering a proposal wherein the institutional investors would be first asked to submit their bids, possibly in the first two days, and then the remaining two days... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| Mutual Funds resist SEBI proposal of same charges for small, big investors Posted: 26 Jul 2010 07:10 PM PDT 
Mutual fund houses are strongly resisting a proposal from market regulator SEBI for treating small investors at par with large institutional ones in terms of various charges, such as exit-loads, with the argument that retail investors are costlier... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| Section 210A of the Companies Act 1956 – Constitution of National Advisory Committee on Accounting Standards – Amendment in Notification number S.O. 1800(E), dated 21-7-2009 Posted: 26 Jul 2010 07:05 PM PDT 
In exercise of the powers conferred by sub-section (1) of Section 210A of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following amendment in the notification of Government of India, Ministry of Corporate Affairs,... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| Bombay High Court Rules Overdraft facility can't be attached for tax recovery Posted: 26 Jul 2010 06:19 PM PDT 
The taxman does not have claim over the bank overdraft facility of a defaulter since the lender does not owe money, but has promised a loan for business, the Bombay High Court has ruled. By taking an overdraft facility, a taxpayer becomes a debtor... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| FM Announces New Pay Scales for Employees of RRBs at Par with PSBs Posted: 26 Jul 2010 06:01 PM PDT 
Finance Minister Shri Pranab Mukherjee has asked the Regional Rural Banks (RRBs) to bring their Non-Performing Assets (NPAs) below 5% by this year itself. Finance Minister also announced the wage revision of the pay-scale and allowances of the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| In Bihar, women give 'birth' to 5 children in 2 months Posted: 26 Jul 2010 05:39 PM PDT 
PATNA: A woman, as everyone knows, usually gives birth to a baby after nine months of pregnancy, but in Bihar 298 women claim to have delivered two to five children in a span of 60 days - at least that's what records of incentives amount given to... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| The Exposure Draft on Non-Financial Disclosures – Views and comments solicited by 4th August, 2010 Posted: 26 Jul 2010 05:03 PM PDT 
One of the principal underpinnings of good corporate governance is that shareholders and other stakeholders are provided with detailed information on financial and operating results in order to understand the current state of affairs, like balance... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| Bill to change Competition Act likely in Monsoon session: MCA Posted: 26 Jul 2010 04:56 PM PDT 
Corporate affairs minister Salman Khurshid has said the Competition Act amendment bill, seeking to invest the competition watchdog CCI with powers to vet big-ticket takeovers, is likely to be tabled in the Monsoon session. [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| Customs Circular No 21/2010, 26-07-2010, Regarding classification of Aseptic Packaging Paper Posted: 26 Jul 2010 04:42 PM PDT 
Reference has been received from the Trade that divergent practices are being followed by field formations regarding classification of 'Aseptic packaging paper'. It has been reported that even when the aseptic packing paper is coated, impregnated or... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| Import of 'Worn Clothing' -Customs Circular No 22/2010, 26-07-2010 Posted: 26 Jul 2010 04:42 PM PDT 
In this regard, the Committee on Petitions (Fourteenth Lok Sabha) has made a recommendation that the increasing tendency of import of such worn clothing needs to be curbed. The Board has, accordingly, decided to reiterate that being a restricted... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| Centre will compensate states on possible losses arising from implementation of the GST Posted: 26 Jul 2010 02:20 PM PDT 
Finance minister Pranab Mukherjee today assured the states that the Centre will fully compensate them on possible losses arising from implementation of the goods and services tax (GST) regime. "No state would be allowed to suffer any loss and would... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| Section 294AA of the Companies Act, 1956 – Power of Central Government to prohibit appointment of sole selling agents in certain cases – Prohibition for appointment of sole selling agents by companies in specified goods Posted: 26 Jul 2010 02:00 PM PDT 
In exercise of the powers conferred by sub-section (1) of Section 294AA of the Companies Act, 1956 (1 of 1956), the Central Government, being of the opinion that the demand for the category of goods specified in the Table below is substantially in... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
| Debts Recovery Tribunal (Procedure for Investigation of Misbehaviour or Incapacity of Presiding Officer) Rules, 2010 Posted: 26 Jul 2010 01:26 PM PDT 
If a written complaint, alleging any definite charges of misbehaviour or incapacity to perform the functions of the office in respcet of a Presiding Officer is received by the Central Government, it shall make a preliminary scrutiny of such... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)  |
