Whereas in the matter of imports of Caustic Soda (hereinafter referred to as the subject goods), falling under Chapter 28 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), originating in, or exported from, Thailand, Chinese Taipei and Norway (hereinafter referred as the subject countries) and imported into India, the designated authority in its final findings vide notification No. 14/1/2010-DGAD, dated the 30th June, 2011, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 30th June, 2011, has come to the conclusion that –
SEBI has commenced processing of investor complaints in a centralized web based complaints redress system ‘SCORES’. The salient features of this system are:
Centralized database of all complaints.
Online movement of complaints to the concerned intermediaries
The Government of India today signed an Agreement for Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income and on Capital (DTAA) with Government of Georgia. The Agreement was signed today by Mr. M.C.Joshi, Chairman, Central Board of Direct Taxes(CBDT) on behalf of the Government of India and Mr. Zurab Katchkatchishvili, Ambassador of Georgia to India on behalf of the Government of Georgia.
Representations requesting clarification on taxability of consideration earned by the distributors/sub-distributors/area distributors of Indian & Foreign films in the form of ‘revenue share’ from the exhibitors of the movie, and on revenue retained as percentage by the exhibitors of the movie from the sale of tickets have been received from certain sections of service providers in the light of recent changes in the law and CBEC Circular No. 109/03/2009 dated 23.02.2009issued under F. No. 137/186/2007-CX.4.
The Revenue Department is trying to locate 9 lakh business entities which have stopped filing service tax returns, with a view to improving collections, meeting Rs 82,000-crore target in 2011-12 and to ascertain whether there is any tax evasion. There are 15 lakh registered service tax payers in the country. According to the Central Board of Excise and Customs (CBEC) Chairman SD Majumdar, only six lakh service tax payers are filing returns.
Sarojben Ashwinkumar Shah etc. Vs. State of Gujarat & ANR. (SC) – In this case, a firm issued cheques to a person but it was returned by the bank as the account had been closed. The payee filed a criminal complaint under Section 138 of the Negotiable Instruments Act against the firm and two partners
Dear Sirs,
Subject: Simplification and Rationalization of Trading Account Opening Process.
1. SEBI has been getting feedback from the investors that the present trading account opening procedure is very cumbersome. The investor has to enter into a number of agreements depending on his trading preferences i.e. stock exchanges, segments, internet / wireless technology based trading, etc. As a result, it requires a large number of signatures on various documents devised by the stock brokers/trading members.
Amendments applicable for November 2011 Exams
[The Portion in italics is part of Memorandum explaining provisions of Finance Bill, 2010]
Change in rates
1. Rates of Income Tax for A/Y 2011-2012
(i) For woman, resident in India and below the age of 65 years at any time during the p/ y.
The Empowered Committee of State Finance Ministers gave its in-principle approval for creation of a portal, ‘Goods and Service Tax Network’ (GSTN), which is expected to provide an interface to all stakeholders, and avoid evasion in indirect taxation systems. A special purpose vehicle (SPV) will be set up for introducing the information technology infrastructure (GSTN), which is based on recommendations made by a group chaired by Nandan Nilekani.
Co-operative movement in our country shall not only stay but also grow in times to come. In spite of the drawbacks experienced in the working and administration of the co-operative societies, they have positively contributed to the growth and development of the national economy. Promotion of thrift, self-help and mutual aid are the fundamental principles of co-operation. The orientations of commercial organization and co-operative organizations are basically different
Reynolds Pens India Pvt. Ltd. vs. Regional Provident Fund Commissioner (Madras High Court) - The Madras High Court in aforesaid case has held that certain allowances such as conveyance, educational allowances, food concession, medical allowance, special holidays, night shift incentive, city compensatory allowances etc. should be treated as part of basic wages under the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952 (‘EPF Act’.) and acordingly, provident fund contributions should be remitted on such allowances.
XBRL is a data-rich dialect of XML (Extensible Markup Language), the universally preferred language for transmitting information via the Internet. It was developed specifically to communicate information between businesses and other users of financial information, such as analysts, investors and regulators. XBRL provides a common, electronic format for business reporting. It does not change what is being reported. It only changes how it is reported
