Fwd: TaxGuru.in : Legal & Tax Updates

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From: LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in>
Date: Sat, Dec 25, 2010 at 9:37 AM
Subject: TaxGuru.in : Legal & Tax Updates
To: palashbiswaskl@gmail.com

TaxGuru.in : Legal & Tax Updates

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• IIFCL To Guarantee Infrastructure Companies Bond Issues Under New Offering
• Cong Leader Demands Income Tax Scrutiny Of Companies Signing MOU With Gujrat Government
• I-T Search- L Engineering Company Admits To Concealing Rs 200 Crore
• RBI To Banks - Don T Give Loans Beyond 80 Percent Of Home Value
• Indian Economy Resilient To Both External And Domestic Shocks But Still Faces Many Challenges
• Madras HC Rules That Disputes On ESI Coverage Should Be Referred To ESI Court Only
• ICAI- Decisions Of The Council Of The Institute Regarding CPE Activities
• Third Quarter Review Of Monetary Policy 2010-11 On January 25 2011
• RBI Releases Gist Of Comments On The Discussion Paper On Entry Of New Banks In The Private Sector
• Preferential Treatment To Services Relating To Preferential Location
• Transfer Of Development Rights Comes Within The Purview Of Section 50C Of The Income Tax Act 1961
• RRBs - Submission Of Data To Credit Information Companies - Format Of Data To Be Submitted By Credit Institutions
• RBI Circular To Regional Rural Banks On Operation Of Bank Accounts And Money Mules
• RBI Directions For Opening And Operation Of Accounts And Settlement Of Payment For Electronic Payment Transactions Involving Intermediaries
• RBI Circular On Financial Assistance To Senior Citizens Widows And Handicapped Persons
• RTGS System Use Of NEFT Customer Facilitation Centers
• Additional 2 Percent Duty Credit Scrip For Export Of Grapes Under VKGUY Scheme

IIFCL To Guarantee Infrastructure Companies Bond Issues Under New Offering Posted: 25 Dec 2010 12:56 AM PST State-run India Infrastructure Finance Company IIFCL has said it will soon launch in association with the ADB a product to improve credit worthiness of infrastructure firms that seek to raise money through long-term bonds nbsp [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Cong Leader Demands Income Tax Scrutiny Of Companies Signing MOU With Gujrat Government Posted: 25 Dec 2010 12:40 AM PST The leader of Opposition in the state Assembly Shaktisinh Gohil has demanded that the Income Tax department should find out if the companies signing memoranda of understanding MoUs with the state government at the Vibrant Gujara [[ This is a content summary only. Visit www.taxguru.in for full article ]]

I-T Search- L Engineering Company Admits To Concealing Rs 200 Crore Posted: 25 Dec 2010 12:26 AM PST The owners of Patel Engineering Limited a listed company admitted to the concealment of income of Rs 200 crore during searches conducted by the income tax I-T authorities The company is mainly into construction of bridges dams [[ This is a content summary only. Visit www.taxguru.in for full article ]]

RBI To Banks - Don T Give Loans Beyond 80 Percent Of Home Value Posted: 25 Dec 2010 12:17 AM PST Concerned over excessive flow of banking funds to the real estate sector the Reserve Bank today said lenders will provide loans only up to 80 per cent of the cost of property nbsp Following the RBI directive a home buyer will ne [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Indian Economy Resilient To Both External And Domestic Shocks But Still Faces Many Challenges Posted: 25 Dec 2010 12:12 AM PST Indian Economy resilient to both External and Domestic Shocks but still faces many challenges nbsp Economy should be able to support Productive Employment and the Benefits of Economic Growth have to percolate down effectively t [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Madras HC Rules That Disputes On ESI Coverage Should Be Referred To ESI Court Only Posted: 24 Dec 2010 11:58 PM PST Disputes by business and other establishments on coverage of Employees State Insurance ESI and or their clubbing would have to be raised before the appropriate ESI Court u s 75 of the ESI Act and petitions should not be prefer [[ This is a content summary only. Visit www.taxguru.in for full article ]]

ICAI- Decisions Of The Council Of The Institute Regarding CPE Activities Posted: 24 Dec 2010 03:11 PM PST This is for information of all the members that the Council of the Institute has decided as follows 1 nbsp nbsp An online e-learning module would be developed and implemented by ICAI for the all the members shortly Under the [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Third Quarter Review Of Monetary Policy 2010-11 On January 25 2011 Posted: 24 Dec 2010 03:08 PM PST Third Quarter Review of Monetary Policy 2010-11 on January 25 2011 Dr D Subbarao Governor Reserve Bank of India will announce the Third Quarter Review of Monetary Policy 2010-11 on Tuesday January 25 2011 nbsp This will [[ This is a content summary only. Visit www.taxguru.in for full article ]]

RBI Releases Gist Of Comments On The Discussion Paper On Entry Of New Banks In The Private Sector Posted: 24 Dec 2010 03:07 PM PST nbsp The Reserve Bank of India released on its website today the gist of the comments on the Discussion Paper on Entry of New Banks in the Private Sector The range of comments received has been very wide and does not indicat [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Preferential Treatment To Services Relating To Preferential Location Posted: 24 Dec 2010 11:25 PM PST By CA Pradip R Shah e-mail pradip pradiprshah com Introduction 1 0 Statutory enactment is supposed to be drafted in a language which conveys the same meaning to all This is for the reason that any term conveying varie [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Transfer Of Development Rights Comes Within The Purview Of Section 50C Of The Income Tax Act 1961 Posted: 24 Dec 2010 11:15 PM PST It was held that transfer of development rights does amount to transfer of land or building and therefore s 50C is applicable is applicable because u s 2 47 v the giving of possession in part performance of a contract as per s 53A [[ This is a content summary only. Visit www.taxguru.in for full article ]]

RRBs - Submission Of Data To Credit Information Companies - Format Of Data To Be Submitted By Credit Institutions Posted: 25 Dec 2010 01:21 AM PST RBI 2010-11 331 RPCD CO RRB BC No 41 03 05 33 2010-11 nbsp December 24 2010 nbsp The Chairmen All Regional Rural Banks RRBs nbsp Dear Sir nbsp Submission of Data to Credit Information Companies - nbsp Format [[ This is a content summary only. Visit www.taxguru.in for full article ]]

RBI Circular To Regional Rural Banks On Operation Of Bank Accounts And Money Mules Posted: 25 Dec 2010 01:18 AM PST RRBs - Operation of bank accounts amp money mules nbsp RBI 2010-11 330 RPCD CO RRB AML BC No 40 03 05 33 E 2010-11 nbsp December 24 2010 nbsp The Chairmen All Regional Rural Banks RRBs nbsp Dear Sir nbsp [[ This is a content summary only. Visit www.taxguru.in for full article ]]

RBI Directions For Opening And Operation Of Accounts And Settlement Of Payment For Electronic Payment Transactions Involving Intermediaries Posted: 25 Dec 2010 01:15 AM PST Directions for opening and operation of Accounts and settlement of payment for electronic payment transactions involving intermediaries nbsp RBI 2010 11 329 DPSS CO OSD No 1381 06 08 001 2010-2011 nbsp December 20 2010 [[ This is a content summary only. Visit www.taxguru.in for full article ]]

RBI Circular On Financial Assistance To Senior Citizens Widows And Handicapped Persons Posted: 25 Dec 2010 01:12 AM PST Financial Assistance to Senior Citizens Widows and Handicapped persons nbsp RBI 2010-11 328 RPCD CO RRB BC No 38 03 05 33 2010-11 nbsp December 24 2010 nbsp The Chairmen All Regional Rural Banks nbsp Dear Sir [[ This is a content summary only. Visit www.taxguru.in for full article ]]

RTGS System Use Of NEFT Customer Facilitation Centers Posted: 25 Dec 2010 01:10 AM PST RBI 2010-11 327 DPSS CO RTGS No 1433 04 04 002 2010-2011 December 24 2010 nbsp Chairman and Managing Director Chief Executive Officer of all banks participating in RTGS and NEFT nbsp Madam Dear Sir nbsp [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Additional 2 Percent Duty Credit Scrip For Export Of Grapes Under VKGUY Scheme Posted: 25 Dec 2010 01:02 AM PST Public Notice No 19 2009-2014 RE 2010 nbsp Dated the nbsp nbsp 23rd December 2010 nbsp Subject nbsp Additional 2 Duty Credit Scrip for Export of Grapes under VKGUY Scheme nbsp In exercise of the powers confe [[ This is a content summary only. Visit www.taxguru.in for full article ]]

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