Fwd: TaxGuru : “Quick Referencer on Sebi Circulars (1st January – August 10, 2011)” plus 17 more

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From: TaxGuru.in - Daily Tax and Corporate Law Update <info@taxguru.in>
Date: Wed, Sep 7, 2011 at 9:48 AM
Subject: TaxGuru : "Quick Referencer on Sebi Circulars (1st January – August 10, 2011)" plus 17 more
To: palashbiswaskl@gmail.com

TaxGuru : "Quick Referencer on Sebi Circulars (1st January – August 10, 2011)" plus 17 more

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• Quick Referencer on Sebi Circulars (1st January – August 10, 2011)
• Due date for submission of ITR-V for A.Y. 2010-11 extended upto 31.10.2011 or 120 days from the date of upload whichever is later
• DTH service like a cinema ticket, Govt can impose entertainment tax – HC
• Dealers in Maharashtra can upload revised sales tax /Vat returns for the periods up to April 2011
• Financial Statements for the limited purpose of IPO/FPO during the Financial Year 2011-12 may be made in per-revised Schedule VI format
• RBI comittee recommends increase in PPF Deposit Limit from Rs. 70,000 to Rs. One Lac
• Guidelines to Streamline Pension Payment Issued; Banks Advised to Formulate Pension Friendly Measures
• Approval of e-forms 1, 18 and 32 on the basis of certification and declarations given by the practicing professional not going to be implemented yet
• Penalty on Foreclosure /Prepayment of Home Loans should be be reasonable and transparent
• RBI issues guideline to Enable Banks to Effectively Manage Risks Arising Out of Outsourcing
• Reduction of Taxes on Petro-Products
• Government Takes Necessary Action to Protect Markets while Keeping Close Watch on Global Developments
• Sharad Pawar forgot few zeroes while declaring assets – BJP
• Transfers & Postings of Commissioners and Directors of Income-tax w.e.f. 06.09.2011
• UPA signs off on new land acquisition Bill
• Banking Ombudsman Conference – Ten Action Points to improve Customer Service of Banks
• RBi notification on RTGS service charges for members
• IRDA – Servicing of Health Insurance Schemes offered by Bodies other than Insurance Companies

Quick Referencer on Sebi Circulars (1st January – August 10, 2011) Posted: 06 Sep 2011 08:57 PM PDT n this Quick referencer Author has has made an effort to summaries all the Circulars issued by SEBI from 01st January 2011 to 10th August 2011.Link to Download the Quick Referencer is given at the bottom of the post. Author has covered circulars... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Due date for submission of ITR-V for A.Y. 2010-11 extended upto 31.10.2011 or 120 days from the date of upload whichever is later Posted: 06 Sep 2011 07:45 PM PDT The due date for submission of ITR-V for A.Y. 2010-11 has been extended upto 31.10.2011 or 120 days from the date of upload whichever is later. [[ This is a content summary only. Visit www.taxguru.in for full article ]]

DTH service like a cinema ticket, Govt can impose entertainment tax – HC Posted: 06 Sep 2011 07:09 PM PDT The Delhi High Court on Monday said the DTH service was like a cinema ticket providing continuous entertainment to viewers and hence, liable to be taxed by the state government. Four prime DTH service providers — Tata Sky, Dish TV, Bharti Telemedia... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Dealers in Maharashtra can upload revised sales tax /Vat returns for the periods up to April 2011 Posted: 06 Sep 2011 06:15 PM PDT Dealers in Maharashtra can upload revised sales tax /Vat returns ( up to the period 31/03/2011) for clearing defects in the returns filed by you or for clearing your pending issues under the local Sales Tax laws. [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Financial Statements for the limited purpose of IPO/FPO during the Financial Year 2011-12 may be made in per-revised Schedule VI format Posted: 06 Sep 2011 05:54 PM PDT General Circular No. 62/2011, Ministry has clarified that the presentation of Financial Statements for the limited purpose of IPO/FPO during the Financial Year 2011-12 may be made in the format of the pre-revised Schedule VI under the Companies... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

RBI comittee recommends increase in PPF Deposit Limit from Rs. 70,000 to Rs. One Lac Posted: 06 Sep 2011 05:38 PM PDT The RBI Committee has recommended increasing the deposit limit under PPF Scheme from existing Rs. 70,000 to Rs. 1 lakh per annum and fixing of rate of interest on advances against deposits in PPF scheme at 2 percentage points as against the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Guidelines to Streamline Pension Payment Issued; Banks Advised to Formulate Pension Friendly Measures Posted: 06 Sep 2011 05:31 PM PDT Guidelines regarding dealing with pension related matters have been issued by Reserve Bank of India (RBI) vide their circular dated 1.10.2008. These guidelines, inter-alia, stipulate that to streamline pension payment arranged in banks, it would be... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Approval of e-forms 1, 18 and 32 on the basis of certification and declarations given by the practicing professional not going to be implemented yet Posted: 06 Sep 2011 05:30 PM PDT General Circular No. 61/2011 It is decided that since now companies are being incorporated with in 24-48 hours, on-line approval of incorporation forms i.e. STP mode of approval of e-forms 1, 18 and 32 on the basis of certification and declarations... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Penalty on Foreclosure /Prepayment of Home Loans should be be reasonable and transparent Posted: 06 Sep 2011 05:26 PM PDT Government, in May 2010, advised Public Sector Banks, Indian Banks' Association and National Housing Bank that no pre-payment charges may be levied by the lending institutions when the loan amount is paid by the borrowers out of their own funds; and... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

RBI issues guideline to Enable Banks to Effectively Manage Risks Arising Out of Outsourcing Posted: 06 Sep 2011 05:22 PM PDT Reserve Bank of India (RBI) has issued Guidelines on Managing Risks and Code of Conduct in Outsourcing of Financial Services by banks on 3rd November, 2006, to enable the banks to effectively manage the risks arising out of outsourcing. As per these... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Reduction of Taxes on Petro-Products Posted: 06 Sep 2011 05:16 PM PDT With effect from 25th June, 2011, the Central Government has reduced basic customs duties on crude from 5% to Nil, on petrol and diesel from 7.5% to 2.5% and on other petroleum products from 10% to 5%. Similarly, the basic excise duty on diesel has... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Government Takes Necessary Action to Protect Markets while Keeping Close Watch on Global Developments Posted: 06 Sep 2011 03:38 PM PDT The uncertainty in the global markets due to recent developments in United States of America (USA) and Eurozone has had some impact on major markets across the globe, including India. However, Indian markets were less affected as compared to some of... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Sharad Pawar forgot few zeroes while declaring assets – BJP Posted: 06 Sep 2011 03:04 PM PDT Ridiculing the disclosure of assets by union cabinet ministers, the opposition Bharatiya Janata Party (BJP) in Goa said agriculture minister Sharad Pawar must have 'forgotten to add a few zeroes'. Pawar disclosed his assets to be worth Rs 12 crore. [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Transfers & Postings of Commissioners and Directors of Income-tax w.e.f. 06.09.2011 Posted: 06 Sep 2011 01:24 PM PDT Vide Order No 152 of 2011 dated 06.09.2011 the CBDT has transferred and posted several Commissioners & Directors of Income-tax with immediate effect [[ This is a content summary only. Visit www.taxguru.in for full article ]]

UPA signs off on new land acquisition Bill Posted: 05 Sep 2011 10:37 PM PDT New Delhi: The Union cabinet on Monday cleared the politically sensitive and critical proposed land acquisition Bill, a little over a month after it was unveiled to the public by the ministry of rural development on 29 July, after relaxing key... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Banking Ombudsman Conference – Ten Action Points to improve Customer Service of Banks Posted: 05 Sep 2011 09:50 PM PDT 1. Indian Banks' Association (IBA) will standardise most important terms and conditions (MITC) for at least ten important banking transactions and circulate among banks for adaptation. 2. Banks would initiate the process of providing one view of all... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

RBi notification on RTGS service charges for members Posted: 05 Sep 2011 09:31 PM PDT In consultation with stakeholders it has since been decided to levy service charges for all outward transactions of RTGS members. The rationale behind the levy of service charges for outward transactions of members in the RTGS System is to (a)... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

IRDA – Servicing of Health Insurance Schemes offered by Bodies other than Insurance Companies Posted: 05 Sep 2011 09:30 PM PDT With a view to enhancing policyholders' services for health insurance, the IRDA had conceptualized the Third Party Administrator (TPA), as an intermediary. The IRDA thought it appropriate to define such an intermediary and permit them to operate as... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

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