Recession in IT Companies Posted: 23 Nov 2011 07:35 PM PST As per National Association of Software and Services Companies (NASSCOM), there was a marked slowdown in recruitment in Financial Year (FY) 2009-10 specifically and also towards end of FY 2008-09 due to recession in developed economies. The data... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| RBI is Closely Monitoring the Rupee Situation and will Do the Needful as Required, Says FM Posted: 23 Nov 2011 07:34 PM PST The Union Finance Minister Shri Pranab Mukherjee said that RBI is closely monitoring the current rupee situation and he is sure that RBI will do the needful, as required. The Finance Minister further said that he would like to add that despite... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Comprehensive Guidelines on Over the Counter (OTC) Foreign Exchange Derivatives – Foreign Currency – INR swaps Posted: 23 Nov 2011 07:30 PM PST In terms of the sub-para (iv) (c) on Foreign Currency-INR swaps in para 1 of the Part B.I. of the Section B in the Annex to the A.P. (DIR Series) Circular No. 32 dated December 28, 2010 the extant instructions state that Swap transactions may be... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| External Commercial Borrowings (ECB) Policy modified – Parking of ECB proceeds Posted: 23 Nov 2011 07:25 PM PST Parking of ECB Proceeds The proceeds of the ECB raised abroad for Rupee expenditure in India, such as, local sourcing of capital goods, on-lending to Self-Help Groups or for micro credit, payment for spectrum allocation, etc., should be brought... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| CBI Files Chargesheet Against Three Accused Including An IAS Officer For Forgery & Fabrication Of Bank Records Posted: 23 Nov 2011 07:21 PM PST The Central Bureau of Investigation has filed a charge sheet in the Court of Special Magistrate for CBI cases, Raipur against the then Locker Incharge & Manager, Bank of Baroda, Main Branch, Raipur and other two other persons including an IAS... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| ICSI releases new format of the quarterly report to be submitted by the students Posted: 23 Nov 2011 07:18 PM PST The Training & Educational Facilities Committee of the Council has approved the new format of the quarterly report to be submitted by the students. Students undergoing 15 months training or part training with Companies, PCS, MCA,ROC,RD,OL... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| ECB Policy modified – All-in-cost Ceiling enhanced Posted: 23 Nov 2011 07:16 PM PST On a review of the developments in the global financial markets and current macro-economic conditions, it has been decided, in consultation with the Government of India, to modify certain aspects of the External Commercial Borrowings (ECB) policy as... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| RBI hikes Interest Rates on NRE and FCNR(B) Deposits Posted: 23 Nov 2011 07:16 PM PST Interest Rates on Non-Resident (External) Rupee (NRE) Deposits In view of the prevailing market conditions, it has been decided that until further notice and with effect from close of business in India as on November 23, 2011, the interest rates on... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Completion of online uploading of RCMC data on DGFT's Server By EPCs / Commodity Boards/Authorities by 30.11.2011 Posted: 23 Nov 2011 07:07 PM PST This is in continuation of this office Trade Notice No. 17 dated 23.8.2011. All Export Promotion Councils / Commodity Boards / Authorities were requested that the registration process and uploading of RCMC data thereafter may be completed by... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| FAQs on e-filing of ST-3 returns – Entries of more than one challans paid in single month, Source Document Posted: 23 Nov 2011 06:27 PM PST 1. How to make entries of more than one challans paid in the single month? If the returns are filed through Excel Utilities, more than one challans are not allowed in single month? To avoid such restriction, in the column on month, more rows... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| 'Public sentiments no basis to deny bail' – SC grants bail to five corporate honchos allegedly involved in 2G Scam Posted: 23 Nov 2011 05:50 PM PST The Supreme Court today granted bail to five top executives allegedly involved in the 2G scam, raising the possibility of similar relief for former Telecom Minister A Raja, DMK MP Kanimozhi and 10 other accused cooling their heels in Tihar Jail here... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| DIPP moves draft Cabinet note on allowing 26% FDI by foreign airlines in the domestic carriers Posted: 23 Nov 2011 05:38 PM PST With Kingfisher and several other airlines landing into dire straits, the industry ministry has moved a draft Cabinet note on allowing 26% FDI by foreign airlines in the domestic carriers. Private airlines in the country are in dire need of funds... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Employees can't be forced to work under new management – Supreme Court Posted: 23 Nov 2011 05:34 PM PST Sunil K.R. Ghosh & Ors. Vs. K. Ram Chandran & Ors. (Supreme Court)- Employees cannot be compelled to work under a new management and are entitled to retirement or retrenchment benefits, the Supreme Court has held. The apex court rejected... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Government has no proposal to lower the securities transaction tax Posted: 23 Nov 2011 05:23 PM PST The government has no proposal to lower the securities transaction tax (STT) for capital market transactions, SS Palanimanickam, Minister of State for Finance, told lawmakers. Traders have been lobbying for reducing the securities transaction tax,... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Ratan Tata's successor – Cyrus P Mistry appointed Deputy Chairman of Tata Sons Posted: 23 Nov 2011 05:22 PM PST The board of directors of Tata Sons at its meeting today appointed Cyrus P Mistry as Deputy Chairman. He will work with Ratan N Tata over the next year and take over from him when Mr Tata retires in December 2012. This is as per the unanimous... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Empanelment of Chartered Accountant Firms for Internal Audit with Central Warehousing Corporation Posted: 23 Nov 2011 05:20 PM PST Expressions of interest are invited from prospective Chartered Accountant Firms for preparing a panel for conducting internal audit and other accounts works of Corporate Office and various warehouses, Regional Offices/Construction Cells spread all... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Preparation of Results Framework Document for Income tax Department for F. Y. 2012-13 Posted: 23 Nov 2011 05:02 PM PST I am sure that by now you have read the OM F. No. 22/1/2011/AP/DOMS dated 21-11-2011 put up on irsofficersonline.gov.in on Results Framework Document. The RFD process is aimed at making quantum improvement in the Departmental performance, leading to... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Format for submitting Draft Letter of Offer under Regulation 16 (1) of SEBI (SAST) Regulations, 2011 Posted: 23 Nov 2011 04:35 PM PST Please refer to circular No SEBI/CFD/DCR/SAST/ 1/2011/09/23 dated September 23, 2011 wherein inter-alia format for submitting Draft Letter of Offer to SEBI under Regulation 16(1) of the Regulations was specified. In the said format, certain... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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| Deregulation of Savings Bank Deposit Interest Rate – Guidelines Posted: 23 Nov 2011 02:31 PM PST As indicated in the Second Quarter Review of Monetary Policy announced on October 25, 2011, it has been decided to deregulate the savings bank deposit interest rate with immediate effect. Accordingly, the following Guidelines will be effective from... [[ This is a content summary only. Visit www.taxguru.in for full article ]] 
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