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Wednesday, May 4, 2011

Fwd: TaxGuru.in : Legal & Tax Updates



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From: LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in>
Date: Tue, May 3, 2011 at 9:39 AM
Subject: TaxGuru.in : Legal & Tax Updates
To: palashbiswaskl@gmail.com


TaxGuru.in : Legal & Tax Updates

Link to LEGAL & FINANCIAL  UPDATES FROM TAX GURU

Bad upkeep of I-T offices shocks CBDT chief in surprise visit

Posted: 02 May 2011 09:04 PM PDT

The Income Tax chief recently made surprise visits to some offices in the department and found to his dismay their poor maintenance and the indifferent attitude of senior officers towards their juniors. During his visit to have a first hand feel of...

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Green Initiatives in the Corporate Governance- Clarification

Posted: 02 May 2011 10:02 AM PDT

The Ministry of Corporate Affairs has clarified that only a duly approved agency approved by it will have to be appointed for providing and supervising electronic platform for electronic voting to have a secured electronic platform for capturing...

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FCRA Comes into Force W.E.F May 2011

Posted: 02 May 2011 10:00 AM PDT

Foreign Contribution Regulation Act (FCRA) 2010 has been notified and it has come into force with effect from 1/5/2011. FCR Rules 2011 have also come into force from 1/5/2011. Key features of FCRA 2010 include the following- Concept of 'permanent'...

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Transfer/Posting of Commissioner/ Director of Income Tax Vide Order No. 76 of 2011

Posted: 02 May 2011 09:44 AM PDT

ORDER NO. 76 OF 2011 - The following local transfers/postings in the grade of Commissioner/Director of Income Tax are hereby ordered with immediate effect and until further orders:

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SC adjourns Sahara case, allows more time to file documents

Posted: 02 May 2011 09:36 AM PDT

The Supreme Court today adjourned the hearing of the petition filed by the Sahara Group against the orders of the Allahabad High Court which necessitated the company to share full details of investors participating in its fund raising exercise with...

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Clarification in respect of General Circular No. 2 /2011 dated 8th February, 2011

Posted: 02 May 2011 09:26 AM PDT

General Circular No: 22/2011, It has been observed that certain companies are seeking clarification in respect of circular No. 2/11 dated 8.2.2011 issued by the Ministry in respect of exemption u/s 212 (8) of the Companies Act, 1956. The point...

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Approval of Ministry of Corporate Affairs for appointment of agency for providing electronic platform for electronic voting under the Companies Act, 1956

Posted: 02 May 2011 09:21 AM PDT

Circular No.21 /2011, Section 192A of the Companies Act, 1956 read with Companies (Passing of the Resolution by Postal Ballot) Rules, 2001 already recognizes voting by electronic mode for postal ballot. Some of the listed company have already...

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E-Form No. 32 – Companies Act, 1956 – filing of conflicting return by contesting parties

Posted: 02 May 2011 09:16 AM PDT

General Circular No. 20/2011, Dated: 02.05.2011 - E-Form No. 32 - Intimation to Registrar of Companies regarding particulars of appointment of Directors etc and changes therein in the company pursuant to section 303 (2) of the Companies Act, 1956 -...

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Marking a company as having management dispute by Registrar of Companies under MCA-21 system

Posted: 02 May 2011 09:11 AM PDT

General Circular No. 19/2011 The Registrar of Companies shall mark a company as having management dispute in only those cases where the court or Company Law Board has directed to maintain the status-quo with reference to any e-forms including status...

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Opening of Escrow Accounts for FDI transactions – A. P. (DIR Series) Circular No. 58 Dated – May 02, 2011

Posted: 02 May 2011 08:24 AM PDT

A. P. (DIR Series) Circular No. 58 It has been decided to permit AD Category – I banks to open and maintain, without prior approval of the Reserve Bank, non-interest bearing Escrow accounts in Indian Rupees in India on behalf of residents and/or...

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Pledge of shares for business purposes -A. P. (DIR Series) Circular No. 57 Date – May 02, 2011

Posted: 02 May 2011 08:20 AM PDT

A. P. (DIR Series) Circular No. 57 Shares of an Indian company held by the non-resident investor can be pledged in favour of an Indian bank in India to secure the credit facilities being extended to the resident investee company for bonafide...

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Compliance with Corporate Governance Guidelines (CG Guidelines)

Posted: 02 May 2011 07:40 AM PDT

I. Annual Filing of Compliance Status- a) All insurers are required to file a Report on status of compliance with the C G Guidelines on an annual basis w.e.f. the Financial Year 2010-11. This report shall be filed within 90 days from the end of the...

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2G Scam – I-T dept to file status report in SC on Tuesday

Posted: 02 May 2011 04:10 AM PDT

The Income Tax department will file its first status report on investigation into tax evasion in the 2G spectrum allocation scam on Tuesday in the Supreme Court. The department, according to sources, has reportedly traced instances of tax evasion...

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Macroeconomic and Monetary Developments in 2010-11

Posted: 02 May 2011 04:02 AM PDT

The Reserve Bank of India today released the Macroeconomic and Monetary Developments in 2010-11. The document serves as a background to the Monetary Policy Statement 2011-12 to be announced on May 3, 2011.

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IRDA – Selection of Implementation Agency (IA) for Business Analytics Project

Posted: 02 May 2011 03:53 AM PDT

Based on the detailed scrutiny of the Technical & Commercial Proposals submitted by the Shortlisted IT firms and further evaluation based on Combined Quality Cum Cost Based System (CQCCBS), M/s L & T Infotech has been formally selected as...

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Excise – Regarding Clarification on issues relating to CENVAT Credit Rules 2004

Posted: 02 May 2011 03:47 AM PDT

Circular No.943/04/2011-CX, Can credit of capital goods be availed of when used in manufacture of dutiable goods on which benefit under Notification 1/2011- CE is availed or in provision of a service whose part of value is exempted on the condition...

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Download ITR 7 in excel format for A.Y. 2011-12- Financial Year 2010-11

Posted: 02 May 2011 03:18 AM PDT

For persons including companies required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D) have to furnish Income Tax Return in ITR 7 and Format of the same for A.Y. 2011-12 is as give below:- ITR 7 in...

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Which is / is not an Arbitration Agreement

Posted: 01 May 2011 11:25 PM PDT

Purpose of Arbitration Act-The purpose of Arbitration and Conciliation Act, 1996 ('the Act') is to provide quick redressal to commercial dispute by private Arbitration. Quick decision of any commercial dispute is necessary for smooth functioning of...

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What, If A Point Was Argued, But Not Dealt With In The Judgment

Posted: 01 May 2011 11:16 PM PDT

Hon'ble Supreme Court in Mohd.Akram Ansari Vs. Chief Election Officer & Ors , observed that it is not ordinarily open to the party to file an appeal and seek to argue a point which even if taken in the petition or memorandum filed before the...

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DGCA asks airlines not to charge exorbitant fares

Posted: 01 May 2011 11:11 PM PDT

Civil aviation regulator DGCA today asked private airlines not to charge exorbitant spot ticket prices and ensure that these were not more than the maximum fares published on their website. The directive came at a meeting DGCA chief E K Bharat...

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Mortgagor can come to the Civil Court before sale with a civil suit

Posted: 01 May 2011 11:01 PM PDT

Under Securitisation Act, if the secured creditor is acting in violation of the rights, duties and obligations, the mortgagor can come to the Civil Court before sale with a civil suit for injunction for staying the sale. In Mardia Chemicals Ltd.. Vs...

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How to Draft a Valid Jurisdiction Ouster Clause

Posted: 01 May 2011 10:57 PM PDT

Therefore, it is explicit that more than one Court may have jurisdiction in respect of the same subject matter as per the circumstances of the particular case. In such a situation, the parties may enter into an agreement and confer exclusive...

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If 'No Debt Due', No Liability Is Incurred By The Guarantor

Posted: 01 May 2011 10:54 PM PDT

Essential Feature of Guarantee-Recoverable Debt Necessary - The purpose of a guarantee being to secure the repayment of a debt, the existence of a recoverable debt is necessary. It is of the essence of a guarantee that there should be someone liable...

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Different Principles for Prosecuting Civil and Criminal Cases

Posted: 01 May 2011 10:48 PM PDT

Hon'ble Supreme Court in the case of Vishwa Mitter v. O.P. Poddar - (1983) 4 SCC 701, has, inter alia, held that if any special statute prescribes offences and makes any special provision for taking cognizance of such offences under the statute,...

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Correcting an error committed by the draftsman in legislative drafting in CPC, 1908

Posted: 01 May 2011 10:43 PM PDT

Hon'ble Supreme Court in Afcons Infrastructure Ltd. & Anr. Vs. Cherian Varkey Construction Co. (P) Ltd. & Ors. {(2010) 8 SCC 24; Decided on 26.07.2010} held as follows in para 13.5 and 16 respectively. A classic example of correcting an...

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Banks duties before declaring NPAs

Posted: 01 May 2011 10:34 PM PDT

Before declaring NPAs, Bankers have numerous duties to perform including rehabilitation not only once but multiple times – Important Information for Borrowers and their advocates. Our Associate and Banking Expert has drawn attention to the following...

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PVAT – Circular on Deferment from payment of Entry Tax in Punjab

Posted: 01 May 2011 10:24 PM PDT

As we know the Hon'ble Punjab & Haryana High Court has already stayed the levy of entry tax in Punjab in the case of M/s Bhushan Steel v State of Punjab case on 28-03-2011 and also in other similar writ petitions challenging the levy of entry...

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Various MVAT Notifications as per Budget Speech- 2011-12

Posted: 01 May 2011 10:17 PM PDT

Various Notifications as per Budget Speech- 2011-12 VAT.1511/C.R. 54(1) to (6)/Taxation-1 dated 27th April 2011 In exercise of the powers conferred by entry 82 of SCHEDULE C appended to the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005),...

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Permission to export 2,50,000 MTs of wheat, in the year 2011-12, to Afghanistan, upto 31.03.2012

Posted: 01 May 2011 10:11 PM PDT

Notification No. 44 (RE-2010)/2009-2014 - Central Government hereby makes, with immediate effect, the following amendment in Notification No. 27(RE-2010)/2009-2014 dated 28.02.2011 read with Notification No. 33(RE-2007)/2004-2009, dated 08.10.2007 ....

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Maharashtra Tax Laws (Levy, Amendmend and Validation) Act, 2011 with Date of effect Notification for provisions of certain sections

Posted: 01 May 2011 10:04 PM PDT

MAH. ACT NO XV OF 2011- Maharashtra Tax Laws (Levy, Amendmend and Validation) Act, 2011 with Date of effect Notification for provisions of certain sections. Maharashtra Value Added Tax Act Notifications - MAH. ACT NO XV OF 2011.

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Finance Minister Pranab Mukherjee to leave for Hanoi Tomorrow to attend ADB's 44th Board of Governors' Annual Meet

Posted: 01 May 2011 09:55 PM PDT

Union Finance Minister Shri Pranab Mukherjee will call on Vietnamese Prime Minister during his two days visit to Hanoi, Vietnam beginning tomorrow i.e. 3rd May, 2011. Finance Minister Shri Mukherjee is visiting Hanoi in order to attend 44th Board...

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Are The Banks / Financial Institutions Above Law?

Posted: 01 May 2011 04:28 PM PDT

Why a Bank does not agree to any of the rights conferred on sureties by section 133, 134, 135, 139 and 141 of Contract Act, and any Rule of Law or Equity? A Case Study– Dena Bank (Letter of Guarantee):- Extracts of Paragraph nos. 4, 5, 6, 10 and 15...

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--
Palash Biswas
Pl Read:
http://nandigramunited-banga.blogspot.com/

No comments:

मैं नास्तिक क्यों हूं# Necessity of Atheism#!Genetics Bharat Teertha

হে মোর চিত্ত, Prey for Humanity!

मनुस्मृति नस्ली राजकाज राजनीति में OBC Trump Card और जयभीम कामरेड

Gorkhaland again?আত্মঘাতী বাঙালি আবার বিভাজন বিপর্যয়ের মুখোমুখি!

हिंदुत्व की राजनीति का मुकाबला हिंदुत्व की राजनीति से नहीं किया जा सकता।

In conversation with Palash Biswas

Palash Biswas On Unique Identity No1.mpg

Save the Universities!

RSS might replace Gandhi with Ambedkar on currency notes!

जैसे जर्मनी में सिर्फ हिटलर को बोलने की आजादी थी,आज सिर्फ मंकी बातों की आजादी है।

#BEEFGATEঅন্ধকার বৃত্তান্তঃ হত্যার রাজনীতি

अलविदा पत्रकारिता,अब कोई प्रतिक्रिया नहीं! पलाश विश्वास

ভালোবাসার মুখ,প্রতিবাদের মুখ মন্দাক্রান্তার পাশে আছি,যে মেয়েটি আজও লিখতে পারছেঃ আমাক ধর্ষণ করবে?

Palash Biswas on BAMCEF UNIFICATION!

THE HIMALAYAN TALK: PALASH BISWAS ON NEPALI SENTIMENT, GORKHALAND, KUMAON AND GARHWAL ETC.and BAMCEF UNIFICATION! Published on Mar 19, 2013 The Himalayan Voice Cambridge, Massachusetts United States of America

BAMCEF UNIFICATION CONFERENCE 7

Published on 10 Mar 2013 ALL INDIA BAMCEF UNIFICATION CONFERENCE HELD AT Dr.B. R. AMBEDKAR BHAVAN,DADAR,MUMBAI ON 2ND AND 3RD MARCH 2013. Mr.PALASH BISWAS (JOURNALIST -KOLKATA) DELIVERING HER SPEECH. http://www.youtube.com/watch?v=oLL-n6MrcoM http://youtu.be/oLL-n6MrcoM

Imminent Massive earthquake in the Himalayas

Palash Biswas on Citizenship Amendment Act

Mr. PALASH BISWAS DELIVERING SPEECH AT BAMCEF PROGRAM AT NAGPUR ON 17 & 18 SEPTEMBER 2003 Sub:- CITIZENSHIP AMENDMENT ACT 2003 http://youtu.be/zGDfsLzxTXo

Tweet Please

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THE HIMALAYAN TALK: PALASH BISWAS BLASTS INDIANS THAT CLAIM BUDDHA WAS BORN IN INDIA

THE HIMALAYAN TALK: INDIAN GOVERNMENT FOOD SECURITY PROGRAM RISKIER

http://youtu.be/NrcmNEjaN8c The government of India has announced food security program ahead of elections in 2014. We discussed the issue with Palash Biswas in Kolkata today. http://youtu.be/NrcmNEjaN8c Ahead of Elections, India's Cabinet Approves Food Security Program ______________________________________________________ By JIM YARDLEY http://india.blogs.nytimes.com/2013/07/04/indias-cabinet-passes-food-security-law/

THE HIMALAYAN TALK: PALASH BISWAS TALKS AGAINST CASTEIST HEGEMONY IN SOUTH ASIA

THE HIMALAYAN VOICE: PALASH BISWAS DISCUSSES RAM MANDIR

Published on 10 Apr 2013 Palash Biswas spoke to us from Kolkota and shared his views on Visho Hindu Parashid's programme from tomorrow ( April 11, 2013) to build Ram Mandir in disputed Ayodhya. http://www.youtube.com/watch?v=77cZuBunAGk

THE HIMALAYAN TALK: PALASH BISWAS LASHES OUT KATHMANDU INT'L 'MULVASI' CONFERENCE

अहिले भर्खर कोलकता भारतमा हामीले पलाश विश्वाससंग काठमाडौँमा आज भै रहेको अन्तर्राष्ट्रिय मूलवासी सम्मेलनको बारेमा कुराकानी गर्यौ । उहाले भन्नु भयो सो सम्मेलन 'नेपालको आदिवासी जनजातिहरुको आन्दोलनलाई कम्जोर बनाउने षडयन्त्र हो।' http://youtu.be/j8GXlmSBbbk

THE HIMALAYAN DISASTER: TRANSNATIONAL DISASTER MANAGEMENT MECHANISM A MUST

We talked with Palash Biswas, an editor for Indian Express in Kolkata today also. He urged that there must a transnational disaster management mechanism to avert such scale disaster in the Himalayas. http://youtu.be/7IzWUpRECJM

THE HIMALAYAN TALK: PALASH BISWAS CRITICAL OF BAMCEF LEADERSHIP

[Palash Biswas, one of the BAMCEF leaders and editors for Indian Express spoke to us from Kolkata today and criticized BAMCEF leadership in New Delhi, which according to him, is messing up with Nepalese indigenous peoples also. He also flayed MP Jay Narayan Prasad Nishad, who recently offered a Puja in his New Delhi home for Narendra Modi's victory in 2014.]

THE HIMALAYAN TALK: PALASH BISWAS CRITICIZES GOVT FOR WORLD`S BIGGEST BLACK OUT

THE HIMALAYAN TALK: PALASH BISWAS CRITICIZES GOVT FOR WORLD`S BIGGEST BLACK OUT

THE HIMALAYAN TALK: PALSH BISWAS FLAYS SOUTH ASIAN GOVERNM

Palash Biswas, lashed out those 1% people in the government in New Delhi for failure of delivery and creating hosts of problems everywhere in South Asia. http://youtu.be/lD2_V7CB2Is

THE HIMALAYAN TALK: PALASH BISWAS LASHES OUT KATHMANDU INT'L 'MULVASI' CONFERENCE

अहिले भर्खर कोलकता भारतमा हामीले पलाश विश्वाससंग काठमाडौँमा आज भै रहेको अन्तर्राष्ट्रिय मूलवासी सम्मेलनको बारेमा कुराकानी गर्यौ । उहाले भन्नु भयो सो सम्मेलन 'नेपालको आदिवासी जनजातिहरुको आन्दोलनलाई कम्जोर बनाउने षडयन्त्र हो।' http://youtu.be/j8GXlmSBbbk