Fwd: TaxGuru.in : Legal & Tax Updates

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From: LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in>
Date: Fri, Sep 17, 2010 at 1:52 PM
Subject: TaxGuru.in : Legal & Tax Updates
To: palashbiswaskl@gmail.com

TaxGuru.in : Legal & Tax Updates

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• Penalty Only In Case Of False Intention SC To Taxman
• Separating Collection Policy-making Will Benefit Both CBDT Taxpayer
• Highlights Of Mid-quarter Review Of India S Monetary Policy
• Government Raises Interest On PF Rate To 9 5 Per Cent
• RBI Raises Key Short-term Lending And Borrowing Rate To Control Inflation
• Reports Of The Parliamentary Standing Committee On Finance On The Companies Bill 2009 And The Company Secretaries Amen
• ROC To Take Action Against Defaulting Companies
• Govt Approves Amendment In The Labour Laws Act 1988 Withdrawn Labour Laws Amendment And Miscellaneous Provisions Bill
• Union Cabinet Approves Amendment To The Forward Contracts Regulation Act 1952
• Union Cabinet Approves Amendment To The Multi-state Co-operative Societies Act 2002
• Finance Minister Confident Of Achieving 9 Growth In The 2011-12
• Eight Of 16 Chief Justices Of India CJIs Were Corrupt Ex-law Minister
• Direct Tax Code DTC Bill -2010- Provisions Affecting Technology Media And Telecommunications Sector
• Registration Of Voluntary Organizations And NGOs For Assistance Under Investor Education And Protection Fund
• Circular No 34 2010-Customs- Refund Of 4 Additional Duty Of Customs 4 Special CVD In Pursuance Of NotificationNo 102 2007-Customs Dated 14 9 2007 Applicability To Manufacturers In Textile Sector
• Notification No 83 2010 - Customs N T -Amends Notification No 36 2001 - Customs N T - Palm Oil Palmolein Soyabean Oil Crude And Brass Scrap All Grades - Traiff Values
• Notification No 95 2010-Customs-Amends Notification No 96 2008-Customs- Duty Free Tariff Preference For Least Developed Countries
• Notification No 94 2010 Customs- Exempts Certain Goods From Customs Duty When Imported Into India From Nepal Subject To Certain Conditions
• Indian Railway Finance Corporation Gets Approval To Issue Tax Free Bonds Of Rs 3800 Crore
• Income Tax - IT - 70 2010 - Amendment In Notification No S O 881 E Dated 14-9-2001
• Loan Amotisation Workinf In Excel

Penalty Only In Case Of False Intention SC To Taxman Posted: 17 Sep 2010 07:41 AM PDT IN A breather to the assessees the Supreme Court has ruled that revenue department cannot impose penalty under provisions of the Central Sales Tax Act for furnishing incorrect representation without proving the intention mens [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Separating Collection Policy-making Will Benefit Both CBDT Taxpayer Posted: 17 Sep 2010 07:16 AM PDT THE Central Board of Direct Taxes CBDT constituted under the Central Boards of Revenue Act 1963 is an all-powerful apex body for the direct tax administration in the country Its function is not merely restricted to ensuring admin [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Highlights Of Mid-quarter Review Of India S Monetary Policy Posted: 17 Sep 2010 07:11 AM PDT Following are the highlights of RBI mid-quarterly monetary review conducted for the first time on Thursday 1 Ups short term lending Repo rate by 0 25 pc to 6 pc 2 Ups short-term borrowing Reverse Repo rate by 0 50 pc [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Government Raises Interest On PF Rate To 9 5 Per Cent Posted: 17 Sep 2010 06:20 AM PDT Union Minister of Labour amp Employment Shri Mallikarjun Kharge Chaired the 190th Meeting of the Central Board of Trustees EPF in New Delhi CBT decides to increase the rate of interest to be credited to EPF members acc [[ This is a content summary only. Visit www.taxguru.in for full article ]]

RBI Raises Key Short-term Lending And Borrowing Rate To Control Inflation Posted: 17 Sep 2010 06:12 AM PDT The Reserve Bank on Thursday raised its key short-term lending rate by 25 basis points and borrowing rate by 50 basis points to check rising prices Inflation remains the dominant concern in macroeconomic management RBI said whil [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Reports Of The Parliamentary Standing Committee On Finance On The Companies Bill 2009 And The Company Secretaries Amen Posted: 17 Sep 2010 06:09 AM PDT Reports of the Parliamentary Standing Committee on Finance on the Companies Bill 2009 and the Company Secretaries Amendment Bill 2010 nbsp The Hon ble Parliamentary Standing Committee on Finance placed their report on the Compan [[ This is a content summary only. Visit www.taxguru.in for full article ]]

ROC To Take Action Against Defaulting Companies Posted: 17 Sep 2010 06:05 AM PDT ROCs have issued Show Cause Notices to the defaulting companies which have not filed their Balance Sheets and Annual Returns within the time Recently ROCs have issued Show Cause Notices to the defaulting companies which have not file [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Govt Approves Amendment In The Labour Laws Act 1988 Withdrawn Labour Laws Amendment And Miscellaneous Provisions Bill Posted: 17 Sep 2010 06:01 AM PDT Amendment in the Labour Laws Act 1988 - withdrawal of the Labour Laws Amendment and Miscellaneous Provisions Bill 2005 and introduction of the new Bill approved The Union Cabinet today approved withdrawal of Labour Laws [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Union Cabinet Approves Amendment To The Forward Contracts Regulation Act 1952 Posted: 17 Sep 2010 05:57 AM PDT nbsp The Union Cabinet today approved amendments to the Forward Contracts Regulation Act 1952 by introducing the Forward Contracts Regulation Amendment Bill 2010 in the Parliament After the Bill is passed and enacted by the Parl [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Union Cabinet Approves Amendment To The Multi-state Co-operative Societies Act 2002 Posted: 17 Sep 2010 05:53 AM PDT The Union Cabinet today approved the introduction of the Multi-State Co operative Societies Amendment Bill 2010 in the Parliament These amendments are intended to enhance the public faith in the cooperatives and to ensure better a [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Finance Minister Confident Of Achieving 9 Growth In The 2011-12 Posted: 17 Sep 2010 05:46 AM PDT Union Finance Minister Shri Pranab Mukherjee said that we will be able to achieve the growth of 9 per cent for the year 2011-12 as projected by him in his last Budget speech The Finance Minister said that for the current year we have [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Eight Of 16 Chief Justices Of India CJIs Were Corrupt Ex-law Minister Posted: 17 Sep 2010 05:07 AM PDT New Delhi Former Union Law Minister Shanti Bhushan Thursday told the Supreme Court that at least eight of the 16 chief justices of India CJIs were definitely corrupt nbsp In an affidavit filed Thursday senior counsel Shanti Bhu [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Direct Tax Code DTC Bill -2010- Provisions Affecting Technology Media And Telecommunications Sector Posted: 17 Sep 2010 05:43 AM PDT Finance Minister tabled the Direct Taxes Code Bill 2010 DTC 2010 in Parliament on 30 August 2010 with a view to simplify the direct tax legislation in India The DTC 2010 once enacted would come into force from 1 April 2012 [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Registration Of Voluntary Organizations And NGOs For Assistance Under Investor Education And Protection Fund Posted: 17 Sep 2010 04:18 AM PDT The Ministry of Corporate Affairs has established the Investor Education and Protection Fund under Section 205C of the Companies Act 1956 to undertake various activities for creating awareness amongst the investors The Ministr [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Circular No 34 2010-Customs- Refund Of 4 Additional Duty Of Customs 4 Special CVD In Pursuance Of NotificationNo 102 2007-Customs Dated 14 9 2007 Applicability To Manufacturers In Textile Sector Posted: 17 Sep 2010 06:58 AM PDT Circular No 34 2010-Customs nbsp nbsp Dated 15th September 2010 nbsp Subject Refund of 4 nbsp Additional Duty of Customs 4 nbsp Special CVD in pursuance of Notification No 102 2007-Customs dated 14 9 2007 Appl [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Notification No 83 2010 - Customs N T -Amends Notification No 36 2001 - Customs N T - Palm Oil Palmolein Soyabean Oil Crude And Brass Scrap All Grades - Traiff Values Posted: 17 Sep 2010 06:55 AM PDT Notification No 83 2010 - Customs N T New Delhi 15th September 2010 nbsp 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 satisf [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Notification No 95 2010-Customs-Amends Notification No 96 2008-Customs- Duty Free Tariff Preference For Least Developed Countries Posted: 17 Sep 2010 06:53 AM PDT Notification No 95 2010-Customs nbsp New Delhi dated the 15th September 2010 nbsp G S R 762 E - In exercise of the powers conferred by sub-section 1 of section 25 of the Customs Act 1962 52 of 1962 the Central Go [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Notification No 94 2010 Customs- Exempts Certain Goods From Customs Duty When Imported Into India From Nepal Subject To Certain Conditions Posted: 17 Sep 2010 06:50 AM PDT Notification No 94 2010 Customs New Delhi dated the 15th September 2010 nbsp G S R nbsp 761 E nbsp nbsp nbsp In exercise of the powers conferred by section 3A of the Customs Tariff Act 1975 51 of 19 [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Indian Railway Finance Corporation Gets Approval To Issue Tax Free Bonds Of Rs 3800 Crore Posted: 17 Sep 2010 04:27 AM PDT Notification No 72 2010 F No 178 12612009-ITA-11 New Delhi the 8th September 2010 INCOME TAX S O 2194 E In exercise of the powers conferred by item h of sub-clause iv of clause 15 of Section 1 [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Income Tax - IT - 70 2010 - Amendment In Notification No S O 881 E Dated 14-9-2001 Posted: 17 Sep 2010 03:49 AM PDT Notification No 70 2010 F No 187 5 2010 - ITA-I dated 3-9-2010 In exercise of the powers conferred by sub-sections 1 and 2 of section 120 of the Income-tax Act 1961 43 of 1961 the Central Board of Direct Taxes hereby ma [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Loan Amotisation Workinf In Excel Posted: 16 Sep 2010 04:39 AM PDT [[ This is a content summary only. Visit www.taxguru.in for full article ]]

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