Fwd: TaxGuru.in : Legal & Tax Updates

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From: LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in>
Date: Wed, Nov 10, 2010 at 8:10 PM
Subject: TaxGuru.in : Legal & Tax Updates
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TaxGuru.in : Legal & Tax Updates

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• Government Debt- Status And Road Ahead Released By Finance Ministry
• National Advisory Committee On Accounting Standards Almost Finalizes Drafting Of The Converged Accounting Standards
• Net Direct Tax Collections Increases By 17 82 Percent In First Seven Months Of 2010-11
• NSDL RPU For Preparing Quarterly E-TDS TCS Statements Regular And Correction Upto FY 2009-10 Released
• Company Law- Form 8 Filing Guidelines
• Companies Bill Misses Deadline Will Be Tabled Next Session
• CBEC Issues Show-cause Notices To Citibank And Kingfisher Airlines On Service Tax Payments
• Supreme Court Asks Finance Ministry And Central Board Of Direct Taxes To Amend Transfer Pricing Law
• Government Plans To Keep Watch On End Use Of Foreign Investment Inflow
• No Restriction On Using Common Descriptive Expression For Goods
• Finmin Asks ICAI To Set Up Panel For IFRS Shift
• IPO Limit For Individual Investor Enhanced
• Will Ernst Amp Young Ever Be Held Accountable For The Lehman Failure
• CBDT May Reopen Income-tax Returns Of Big Companies To Recover Over Rs 27 000 Crore
• Supreme Court Refuses To Extend Satyam Raju S Surrender Deadline
• Constitutionality Of Levy Of Service Tax Under The Category Of Information Technology Software Service Upheld
• Guidelines For Filling Form 15CA Bulk Upload
• Guidelines For Filling Form 15CA Online
• Details Of Changes In New Maharashtra VAT Audit Report Format Version 1 2 1
• Audit Committee Of The Board Of Directors Calendar Of Reviews
• Insurance- Treatment Of Unclaimed Amount Of Policyholders
• SEZ - Guidelines To Regulate Functioning Of Plastics Used Clothing Units In SEZs
• Empanelment Of Chartered Accountant Firms For Audit Of Urban Co-operative Banks Of Maharashtra
• Empanelment Of Individual Chartered Accountants Proprietary Firms For Audit Of Urban Credit Societies And Other Societies Other Than UCBs Of Maharashtra

Government Debt- Status And Road Ahead Released By Finance Ministry Posted: 11 Nov 2010 01:17 AM PST As a follow up of the announcement made by the Finance Minister in his Budget Speech 2010-11 a comprehensive Paper on Government Debt has been released by the Finance Ministry today nbsp The ... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

National Advisory Committee On Accounting Standards Almost Finalizes Drafting Of The Converged Accounting Standards Posted: 11 Nov 2010 01:15 AM PST Converged Standards will have to be followed by Phase-I Companies W E F 01 04 2011 nbsp Ministry of Corporate Affairs after wide consultations with all stakeholders and regulators has drawn... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Net Direct Tax Collections Increases By 17 82 Percent In First Seven Months Of 2010-11 Posted: 11 Nov 2010 01:14 AM PST Net direct tax collections in the first seven months of the current fiscal crossed the mark of rupees two trillion and stood at Rs 2 04 351 crore as on 31st October 2010 April-October 2010 ... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

NSDL RPU For Preparing Quarterly E-TDS TCS Statements Regular And Correction Upto FY 2009-10 Released Posted: 11 Nov 2010 01:12 AM PST NSDL RPU for preparing quarterly e-TDS TCS statements regular and correction nbsp upto FY 2009-10 released A Procedure for preparation of return Deductors Manual for quarterly returns ... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Company Law- Form 8 Filing Guidelines Posted: 11 Nov 2010 01:08 AM PST Under Part-A Statement of Solvency the names of the DPIN holders will be displayed automatically once the the prefill button is clicked after giving the correct DPIN numbers Under Part-B ... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Companies Bill Misses Deadline Will Be Tabled Next Session Posted: 11 Nov 2010 12:56 AM PST The government today said that it would not be able to table the new Companies Bill that was expected to be enacted by the end of this year in the Parliament s winter session nbsp Failing to meet... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

CBEC Issues Show-cause Notices To Citibank And Kingfisher Airlines On Service Tax Payments Posted: 11 Nov 2010 12:49 AM PST The Central Board of Excise and Customs CBEC has issued show-cause notices to Citibank NA and Kingfisher Airlines Ltd for not paying service tax related to their sponsorship of the Indian Premier... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Supreme Court Asks Finance Ministry And Central Board Of Direct Taxes To Amend Transfer Pricing Law Posted: 11 Nov 2010 12:44 AM PST THE Supreme Court has asked the finance ministry and Central Board of Direct Taxes CBDT the apex body in charge of administering India s taxation system to amend transfer pricing or TP ... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Government Plans To Keep Watch On End Use Of Foreign Investment Inflow Posted: 11 Nov 2010 12:41 AM PST The government plans to keep a tight vigil on foreign investment inflows by making it mandatory for companies bringing in foreign equity to periodically disclose the end-use of such funds The... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

No Restriction On Using Common Descriptive Expression For Goods Posted: 10 Nov 2010 05:14 AM PST A division bench of the Delhi high court last week dismissed the appeal of Marico Ltd against its rival in cooking oil market Agro Tech Foods Ltd over the use of expressions exclusively claimed by... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Finmin Asks ICAI To Set Up Panel For IFRS Shift Posted: 10 Nov 2010 05:14 AM PST Barely five months from the final implementation of the IFRS the finance ministry has directed the apex accounting regulator Institute of Chartered Accountants of India ICAI to set up a... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

IPO Limit For Individual Investor Enhanced Posted: 10 Nov 2010 05:09 AM PST The Securities and Exchange Board of India SEBI has doubled the limit for maximum application for individual investors from Rs 1 lakh to Rs 2 lakhs across all public issues However there is no... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Will Ernst Amp Young Ever Be Held Accountable For The Lehman Failure Posted: 10 Nov 2010 05:04 AM PST The more successful a fraud case is against Lehman s executives the nbsp less likely EY or any of its partners will suffer any consequences for nbsp their acquiescence to or complicity in the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

CBDT May Reopen Income-tax Returns Of Big Companies To Recover Over Rs 27 000 Crore Posted: 10 Nov 2010 04:48 AM PST In one of the biggest tax recoveries to be made from blue-chip companies the finance ministry has asked Central Board of Direct Taxes CBDT to reopen income-tax returns of entities found to... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Supreme Court Refuses To Extend Satyam Raju S Surrender Deadline Posted: 10 Nov 2010 04:36 AM PST New Delhi Nov 9 nbsp The Supreme Court on Tuesday dismissed the petition of Satyam s founder-chairman Mr B Ramalinga Raju asking for extending Wednesday s deadline for his surrender nbsp As... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Constitutionality Of Levy Of Service Tax Under The Category Of Information Technology Software Service Upheld Posted: 11 Nov 2010 12:34 AM PST Constitutionality of levy of service tax under the category of Information Technology Software Service upheldFacts in brief nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp The petitioner ... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Guidelines For Filling Form 15CA Bulk Upload Posted: 11 Nov 2010 12:17 AM PST Guidelines for filling Form 15CA Bulk Upload nbsp nbsp nbsp nbsp nbsp nbsp nbsp File Based Bulk Upload of Form 15CA nbsp Facility for upload of multiple Form 15CA records in... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Guidelines For Filling Form 15CA Online Posted: 11 Nov 2010 12:11 AM PST 1 nbsp nbsp nbsp nbsp nbsp Guidelines for Part A of Form 15CA a nbsp nbsp nbsp nbsp nbsp Remitter nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp ... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Details Of Changes In New Maharashtra VAT Audit Report Format Version 1 2 1 Posted: 11 Nov 2010 12:05 AM PST Compiled By CA Amit K GanarDetails of changes in VAT audit report format Version 1 2 1 1 nbsp nbsp nbsp nbsp nbsp nbsp Part nbsp 1- 2 B b Schedule and annexure as applicable to be... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Audit Committee Of The Board Of Directors Calendar Of Reviews Posted: 11 Nov 2010 01:24 AM PST Audit Committee of the Board of Directors Calendar of Reviews RBI 2010-11 269 DBS ARS BC No 4 08 91 020 2010-11 November 10 2010 The Chief Executives All Indian Commercial Banks ... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Insurance- Treatment Of Unclaimed Amount Of Policyholders Posted: 11 Nov 2010 01:22 AM PST CIRCULAR NO IRDA F amp I CIR CMP 174 11 2010 DATED 4-11-2010 It has been noticed by the Authority that the quantum of the amount lying unclaimed by the policyholders insureds is accumulating... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

SEZ - Guidelines To Regulate Functioning Of Plastics Used Clothing Units In SEZs Posted: 11 Nov 2010 01:20 AM PST INSTRUCTION NO 69 DATED 4-11-2010 In terms of the Rule 18 4 of the SEZ Rules 2006 extension of Letter of nbsp Approval of an existing unit for recycling plastic scrap and waste enhancement... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Empanelment Of Chartered Accountant Firms For Audit Of Urban Co-operative Banks Of Maharashtra Posted: 10 Nov 2010 04:18 AM PST Empanelment of Chartered Accountant firms for Audit of Urban Co-operative Banks of Maharashtra Last Date 25th November 2010 1 nbsp nbsp nbsp Only those Maharashtra based partnership firms... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Empanelment Of Individual Chartered Accountants Proprietary Firms For Audit Of Urban Credit Societies And Other Societies Other Than UCBs Of Maharashtra Posted: 10 Nov 2010 04:10 AM PST Empanelment of Individual Chartered Accountants proprietary firms for Audit of Urban Credit Societies and other Societies other than UCBs of Maharashtra Last Date 25th November 2010 1 ... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

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