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Government for Stable Tax Regime, says the Finance Minister
19 December 2012 at 17:56The Union Finance Minister, Shri P. Chidambaram said that the Government is fully committed to provide best possible facilities to the tax payers for better tax compliance and revenue augmentation. He said that our focus is always to have a reason
Salient Features of the Companies Bill 2011
19 December 2012 at 15:28The Companies Bill, 2011, which was passed by the Lok Sabha yesterday, on its enactment will allow the country to have a modern legislation for growth and regulation of corporate sector in India. The existing statute for regulation of companies in
Mid-Quarter Monetary Policy Review: December 2012
19 December 2012 at 10:28Monetary and Liquidity Measures On the basis of the current macroeconomic assessment, it has been decided to: · keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4.25 per cent of their net demand and time liabiliti
IND-AS placed on MCA website for wider dissemination
18 December 2012 at 11:54Indian Accounting Standards After extensive stakeholders consultation on IFRS standards, the converged Indian Accounting Standards (IND-AS) have been placed on the website of the Ministry of Corporate Affairs for wide dissemination and fa
MID-Year Economic Analysis Presented in Parliament; holds Outlook of Growth Stability and Recovery of the Economy
18 December 2012 at 11:53The Government today tabled the Mid-Year Economic Analysis 2012-13 in both the Houses of Parliament. This is as per the provisions of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003 which requires the review of quarterly trends in
Compliance with the Requirements of Corporate Governance
18 December 2012 at 11:53Compliance with the requirements of Corporate Governance as laid down in the Companies Act is looked into by the Registrars of Companies and suitable action is initiated wherever there is failure to comply with the law. Giving this information in
Tax Raids under the Income Tax Act, 1961
15 December 2012 at 11:44Tax Raids The numbers of search warrants executed under the Income Tax Act, 1961 during the years 2010-11, 2011-12 and the current year are as under: Period Number of warrants executed
Updating Tax Officials' Knowledge of Law
15 December 2012 at 11:44The assessing officers undergo in-depth training on direct tax at the induction stage at National Academy of Direct Taxes, Nagpur (NADT) and the seven subordinate Direct Taxes Regional Training Institutes (DTRTIs) located across the country and on
Income Tax Refund
15 December 2012 at 11:44Processing of returns of income, including those with refund claim, is a continuous process. Statutory time limit to process returns of income is with reference to the financial year of their receipt. As per the Income Tax Act, 1961 returns receiv
253277 companies have not filed their Annual return in 2010-11
14 December 2012 at 16:29De-Registration of Companies During the year 2010-11, 2,53,277 companies have not filed their Balance Sheets and Annual Returns. Giving this information in written reply to a question in the Lok Sabha today Shri Sachin Pilot, Minister of Corpora
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