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Monday, August 16, 2010

Fwd: TaxGuru.in : Legal & Tax Updates



---------- Forwarded message ----------
From: LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in>
Date: Sun, Aug 15, 2010 at 10:00 AM
Subject: TaxGuru.in : Legal & Tax Updates
To: palashbiswaskl@gmail.com


TaxGuru.in : Legal & Tax Updates

Link to LEGAL & FINANCIAL  UPDATES FROM TAX GURU

Refund of 4% CVD (SAD) in terms of Notification No.102/2007-Customs dated 14.9.2007 by re-crediting the DEPB scrip / reward scheme scrips

Posted: 14 Aug 2010 03:52 AM PDT


DGFT have subsequently issued a Public Notice No.38/2009-2014 dated 3.2.2010 and also a Policy Circular No.22/2009-14 dated 3.2.2010 for extending the validity of Duty Credit Scrips. Accordingly, concerned Commissionerates of Customs are required to...

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Customs Notification No 76/2010 (NT) Amends Notification No. 36/2001-Cus (N. T.), dated, the 3rd August 2001

Posted: 14 Aug 2010 02:49 AM PDT


In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following further amendment in the notification of...

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CUSTOMS Notification No 75/2010 (NT) -Making the following regulation to amend the Courier Imports and Exports (Clearance) Regulations, 1998

Posted: 14 Aug 2010 02:46 AM PDT


In exercise of the powers conferred by section 157 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following regulations further to amend the Courier Imports and Exports (Clearance) Regulations, 1998,...

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CUSTOMS Notification No 70-74/2010 (NT) appointing Common/Special Adjudicators

Posted: 14 Aug 2010 02:42 AM PDT


In exercise of the powers conferred by sub-section (1) of section 4 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby appoints the Commissioner of Customs, Kandla to exercise the powers and discharge the duties...

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Pay fine for Violation of FEMA rules or face Penal action

Posted: 14 Aug 2010 02:13 AM PDT


The Reserve Bank on Friday said persons charged with violation of the Foreign Exchange Management Act should apply for compounding, which is paying a sum to get relief from punitive action under the act, at the earliest.

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CAG criticised tax departments weakness for filing Appeals and asks to To Set up dispute resolution mechanism for small taxpayers

Posted: 14 Aug 2010 01:17 AM PDT


The Comptroller and Auditor General of India (CAG) has come down heavily on the Tax Department for fostering "a perception that it has a tendency to opt for appeals even when it is on a weak wicket" and this "appealititis is more detrimental when...

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Rs. 12,000 crore tax demands locked on account of disputes pending at various courts

Posted: 13 Aug 2010 06:07 PM PDT


Over Rs 12,000 crore in tax demands was locked on account of disputes, pending resolution at various courts, as on June 30, 2010, Parliament was informed on Friday. While cases involving tax demand of about Rs 7,635 crore are pending in Income Tax...

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RBI Notification on Regulatory Framework for Core Investment Companies (CICs)

Posted: 13 Aug 2010 05:02 PM PDT


The Bank had announced in the Annual Policy 2010-2011 that companies which have their assets predominantly as investments in shares for holding stake in group companies but not for trading, and also do not carry on any other financial activity,...

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ULIP to offer Minimum Return to Policyholders from 6th Year Onward and locking period increases to Five Years

Posted: 13 Aug 2010 02:36 PM PDT


All Unit Linked Products to Offer Minimum Return to Policyholders from 6th Year Onward Unit Linked Pension Products to Ensure Minimum Guaranteed Return on Maturity Locking Period Increased From Three to Five Years The Insurance Regulatory &...

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Allocation of limits to FIIs/sub-accounts for investment in Government debt & corporate debt through bidding process

Posted: 13 Aug 2010 01:04 AM PDT


As per SEBI circular No. CIR/IMD/FII/9/2010 dated August 06, 2010, unutilised investment limits for Government debt & corporate debt were available for allocation to the FIIs/ sub-accounts in the open bidding platform. The bidding for these...

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IRDA circular on Transition from referral arrangement to Corporate Agency

Posted: 13 Aug 2010 12:50 AM PDT


In order to facilitate smooth transition of eligible entities from existing referral arrangements to Corporate Agency system for complying with the IRDA (Sharing of data base for distribution of insurance product) Regulations, 2010, it has been...

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Instruction No. 64 regarding Role of Zonal DC in SEZ

Posted: 12 Aug 2010 12:40 AM PDT


I am directed say that for effective administration and implementation of the SEZ Scheme, the Development Commissioners of the Central Government owned SEZs were declared as Zonal Development

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

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