CAclubindia News

Increase in Number of Foreign Companies

06 September 2012 at 11:26

As per the 55th Annual Report on the working and administration of the Companies Act 1956 for the year ended March 2011, the number of foreign companies has increased from 2609 as on 31.3.2008 to 3127 as on 31.3.2011. There has been consistent inc

Posted in Others | 5919 Views

Raids by DRI

06 September 2012 at 11:26

The Directorate of Revenue Intelligence (DRI) has conducted raids during the last three years and the current years. The mandate of the DRI is to investigate offences under the Customs Act, 1962 and the NDPS Act, 1985. The Directorate of has dete

Posted in Custom | 10542 Views

Rs. 86,000 Crore Indirect Tax Revenue Locked up in Litigation

06 September 2012 at 11:26

An amount of Rs.86,000 crores indirect tax revenue of Central Board of Excise and Customs has been locked up in litigation. Success rate of departmental litigation in Courts and Tribunal during the last four years are as follows:-

Posted in Custom | 7524 Views

Income Tax Overseas Units

06 September 2012 at 11:26

Income-tax Overseas Units (ITOUs) manned by tax officers at the level of First Secretary have been established in Mauritius and Singapore. Further, posting orders in respect of officers to be posted to newly created ITOUs in Indian missions at Cyp

Posted in Income Tax | 5304 Views

Relaxation of NBFC Norms

06 September 2012 at 11:21

In view of the problems being faced by NBFC in complying with the extant this criteria on account of their existing portfolio, the RBI modified its directions on August 03, 2012 to include within the definition of ‘qualifying asset’ on

Posted in Others | 5631 Views

Due date for filing of e-Form 23AC and 23ACA (Non-XBRL) is extended up to 15-10-2012

04 September 2012 at 15:30

Due date for filing of e-Form 23AC and 23ACA (Non-XBRL) is extended up to 15-10-2012 Circular No. 28/2012 03.09.2012

Posted in Corporate Law | 3 comments | 18681 Views

Income-tax (10th Amendment) Rules, 2012

04 September 2012 at 12:54

TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE [CENTRAL BOARD OF DIRECT TAXES] Notification New Delhi, the 30th day of August, 2012

Posted in Income Tax | 14391 Views

Full text of the committee report on GAAR

03 September 2012 at 12:33

Full text of the committee report on GAAR

Posted in Income Tax | 1 comments | 9300 Views

Ministry of Finance Notifies Advance Price Agreement (APA) Scheme

01 September 2012 at 13:42

The Ministry of Finance has notified an “Advance Pricing Agreement Scheme” (Rules 10F to 10T of Income Tax Rules, 1962) vide notification No. 36/2012 dated 30-8-2012. The Finance Act, 2012 had inserted sections 92CC and 92CD in the Inc

Posted in Income Tax | 4 comments | 9072 Views

FM's Statement Regarding GDP Numbers for First Quarter for 2012-13

01 September 2012 at 13:42

FM’S Statement Regarding GDP Numbers for First Quarter for 2012-13; Emphasizes Once Again the Need to take Quick Decisions to Accelerate Investments and Removing all Bottlenecks to Investments The first quarter GDP numbers for 2012-13 were r

Posted in Others | 6705 Views