Fwd: TaxGuru.in : Legal & Tax Updates

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From: LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in>
Date: Sun, Mar 13, 2011 at 9:36 AM
Subject: TaxGuru.in : Legal & Tax Updates
To: palashbiswaskl@gmail.com

TaxGuru.in : Legal & Tax Updates

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• Advertising Agency Service- Brief, Tax Rate, Accounting code, Classification, Valuation and all other details
• Applicability of Custom Duty on Import of Gifts and FAQ on the same
• Empanelment for the Appointment of Internal Auditors in Eastern Coalfields Limited (ECL) For The Year 2011-12
• SEBI guidelines to allow direct investment by foreign investors into MFs
• Panel report on restructuring pension scheme likely by Mar-end
• Telecom Department may raise Rs 1,100cr demand
• Income Tax Refund cases not yet entered on the system – Casual and cavalier attitude
• Law Commission recommends uniform age of marriage for both boys and girls
• Number of working days in Courts governed by the rules framed by the respective Courts
• ICAI Online Journal (March 2011)
• SEBI bans 3 independent directors of Pyramid Saimira for 2 yrs
• ED seeks 14 days remand of Hasan Ali, cites national security

Advertising Agency Service- Brief, Tax Rate, Accounting code, Classification, Valuation and all other details Posted: 12 Mar 2011 07:34 PM PST "Advertising agency" means any person engaged in providing any service connected with the making, preparation, display or exhibition of advertisement and includes an advertising consultant. "advertisement" includes any notice, circular, label,... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Applicability of Custom Duty on Import of Gifts and FAQ on the same Posted: 12 Mar 2011 07:20 PM PST All goods imported into India from abroad is liable to duties of Customs under Section 12 of the Customs Act and also is liable to all the restrictions under the Foreign Trade (Development & Regulations) Act 1992. However, the Government has... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Empanelment for the Appointment of Internal Auditors in Eastern Coalfields Limited (ECL) For The Year 2011-12 Posted: 12 Mar 2011 07:19 PM PST Offers are invited for Empanelment for the Appointment of Internal Auditors in Eastern Coalfields Ltd. (ECL) along with its Areas & service units, for the year 2011-12 starting from 1st April, 2011 with a provision to renew the same for another... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

SEBI guidelines to allow direct investment by foreign investors into MFs Posted: 12 Mar 2011 09:51 AM PST Market regulator SEBI will soon come out with guidelines for foreign investors undertaking direct investments in mutual funds, a senior official said today. "SEBI will issue the guidelines allowing foreign investors to invest in mutual funds... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Panel report on restructuring pension scheme likely by Mar-end Posted: 12 Mar 2011 09:49 AM PST The Pension Fund Regulatory and Development Authority (PFRDA) today said the Bajpai committee report on overhauling the structure of all citizens' pension scheme is expected by the end of this month. "They have committed that they would submit the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Telecom Department may raise Rs 1,100cr demand Posted: 12 Mar 2011 12:08 AM PST Having completed investigation into special audit of five leading operators, including RCom, Bharti and Idea, the Telecom Ministry is likely to raise demand of over Rs 1,100 crore from them for under reporting revenues. "The Department has completed... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Income Tax Refund cases not yet entered on the system – Casual and cavalier attitude Posted: 11 Mar 2011 09:17 PM PST All the CCITs, including the CCITs (CCA), were advised by the Board on Feb 28 & again on March 05 11 to provide data regarding paper refund cases not yet entered on the system. The CBDT feels anguished that, except CCITs Nagpur, Ranchi, Panaji... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Law Commission recommends uniform age of marriage for both boys and girls Posted: 11 Mar 2011 09:14 PM PST Age of Marriage The Law Commission of India in its 205th Report had made recommendation for a uniform age of marriage of 18 years for both boys and girls. However, the Government is of the view that the difference in the age of marriage (21 years... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Number of working days in Courts governed by the rules framed by the respective Courts Posted: 11 Mar 2011 09:12 PM PST The working days in the High Courts are regulated by the rules framed by the respective Courts. According to available information, all High Courts in the country normally have 210 working days in a year. The number of working days of the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

ICAI Online Journal (March 2011) Posted: 11 Mar 2011 09:09 PM PST Download ICAI Online Journal for the Month of March 2011. [[ This is a content summary only. Visit www.taxguru.in for full article ]]

SEBI bans 3 independent directors of Pyramid Saimira for 2 yrs Posted: 11 Mar 2011 08:31 PM PST Marker regulator SEBI today barred three independent directors and members of audit committee of Pyramid Saimira from holding a similar position in any listed company for two years for giving false and misleading statements. [[ This is a content summary only. Visit www.taxguru.in for full article ]]

ED seeks 14 days remand of Hasan Ali, cites national security Posted: 11 Mar 2011 08:30 PM PST After being rapped by a local court for not doing its "homework", the Enforcement Directorate today took the line that "certain links" of Hasan Ali Khan needed to be probed as it has a bearing on "national security" and pressed for his 14-day... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

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Palash Biswas
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