Fwd: TaxGuru.in : Legal & Tax Updates

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From: LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in>
Date: Wed, Nov 17, 2010 at 9:57 AM
Subject: TaxGuru.in : Legal & Tax Updates
To: palashbiswaskl@gmail.com

TaxGuru.in : Legal & Tax Updates

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• CAG Faults DoT For Failing To Recover 679 Cr Penalty
• IRDA Slaps Rs 10 Lakh Penalty On Reliance Life Insurance
• 41 NGOs Banned From Receiving Foreign Aid
• RBI Policy May Change If Growth Slides Further
• 5 Lakh Demat Accounts Frozen By CDSL And NSDL
• Downloadable E-forms Made Available On LLP Portal
• Solutions For Reducing The Delay In Courts In India Are Availlable From 1958
• For An Asset Intensive Industry The Appropriate Profit Level Indicator PLI Shall Be PBIT And Not PBDIT
• Arm S Length Price Should Be Based On The Functional And Asset Profile Of The Company
• Notification No 97 2010 - Customs N T - Notifies Tariff Value Of Edible Oils Brass Scrap And Poppy Seeds
• Amends Handling Of Cargo In Customs Areas Regulations 2009
• Calculate Your Gratuity
• Taxability Of Gifts

CAG Faults DoT For Failing To Recover 679 Cr Penalty Posted: 17 Nov 2010 01:08 AM PST Government auditor CAG has pulled up the telecom ministry for not recovering Rs 679 crore as penalty or liquidated damages from six new operators for missing the network roll-out schedule as per... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

IRDA Slaps Rs 10 Lakh Penalty On Reliance Life Insurance Posted: 17 Nov 2010 01:06 AM PST Insurance regulator IRDA has imposed a fine of Rs 10 lakh on Anil Ambani Group company Reliance Life Insurance Company for violating the norms nbsp The company was directed to pay a penalty of Rs... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

41 NGOs Banned From Receiving Foreign Aid Posted: 17 Nov 2010 01:02 AM PST Forty one NGOs have been banned from receiving foreign contributions due to corruption or irregularities in utilisation of such funds received under Foreign Contribution Regulation Act ... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

RBI Policy May Change If Growth Slides Further Posted: 17 Nov 2010 01:00 AM PST Within days of India reporting a 16-month low industrial growth of 4 4 per cent for September a top government economic advisor said on Tuesday industry is expected post a recovery in October ... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

5 Lakh Demat Accounts Frozen By CDSL And NSDL Posted: 16 Nov 2010 09:15 AM PST Close to five lakh demat accounts have been frozen by the Central Depository Services Ltd CDSL and the National Securities Depository Ltd NSDL for want of PAN details This makes up for about... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Downloadable E-forms Made Available On LLP Portal Posted: 16 Nov 2010 07:04 AM PST Important Notice The new feature of downloadable e-forms has been made available on the LLP Portal Users may now download the e-forms required to be filed and upload the same once filled at their... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Solutions For Reducing The Delay In Courts In India Are Availlable From 1958 Posted: 16 Nov 2010 09:12 AM PST Whenever we talk about the delay in Courts and the solution many will be in dilemma as to how to deal with this issue comprehensively nbsp The issues highlighted by many including public ... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

For An Asset Intensive Industry The Appropriate Profit Level Indicator PLI Shall Be PBIT And Not PBDIT Posted: 16 Nov 2010 05:37 AM PST In a recent ruling in the case of ACIT v Fiat India Pvt Ltd 2010-TII-30-ITAT MUM-TP the Mumbai Bench of the Income-tax Appellate Tribunal the Tribunal while deciding the case in favour... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Arm S Length Price Should Be Based On The Functional And Asset Profile Of The Company Posted: 16 Nov 2010 05:21 AM PST The Mumbai Bench of the Income Tax Appellate Tribunal the Tribunal in the case of ITO v Zydus Altana Healthcare Pvt Ltd 2010-TI I-29-ITAT MUM-TP while deciding the case in favour of the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Notification No 97 2010 - Customs N T - Notifies Tariff Value Of Edible Oils Brass Scrap And Poppy Seeds Posted: 16 Nov 2010 03:56 AM PST Notifies Tariff Value of Edible Oils brass scrap and Poppy SeedsNotification No 97 2010 - Customs N T New Delhi 15th November 2010 24 Kartika 1932 SAKA S O E In exercise of... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Amends Handling Of Cargo In Customs Areas Regulations 2009 Posted: 16 Nov 2010 03:43 AM PST Notification No 96 2010 Customs N T nbsp New Delhi dated the 12th November 2010 nbsp G S R nbsp E - In exercise of the powers conferred by sub-section 2 of section 141 read... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Calculate Your Gratuity Posted: 15 Nov 2010 05:48 PM PST Gratuity Calculation for Central Govt Private Concern Employees [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Taxability Of Gifts Posted: 15 Nov 2010 01:40 AM PST Taxability of Gifts with tabular presentation of relatives as defined for gift purpose [[ This is a content summary only. Visit www.taxguru.in for full article ]]

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Palash Biswas
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