Fwd: TaxGuru.in : Legal & Tax Updates

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From: LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in>
Date: Fri, Aug 13, 2010 at 10:01 AM
Subject: TaxGuru.in : Legal & Tax Updates
To: palashbiswaskl@gmail.com

TaxGuru.in : Legal & Tax Updates

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• Check Your IT return Processing Status, Income Tax Refund Status and Track the status of Refund dispatched by post
• Service tax on Air Travel, Rate and Services at the airports free from service tax
• Cashless medical facility likely to resume in a week
• 92 officials under Central Vigilance Commission scanner for alleged involvement in corruption
• DTC and changes proposed in wealth tax Provisions
• Property Sales at its low in and around Mumbai
• India may 10 per cent import duty on power equipment for big projects
• Lok Sabha passes bill to promote and regulate foreign trade
• RBI decides to Liberalise ECB Policy for entities in Hotels, Hospitals and Software sector
• Government taking measures to make Hindi one of the official languages of the United Nation
• SEBI circular on Updation of investor related documents
• Professional Competence Examination – November 2010 Application Form
• Availability of Physical Application Forms for Chartered Accountants November-2010 Examinations
• SEBI circular on Arbitration Mechanism in Stock Exchanges
• Customs Notification No 81/2010, 10-08-2010, regarding amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue)
• Customs Notification No 80/2010, 10-08-2010, Regarding amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue)

Check Your IT return Processing Status, Income Tax Refund Status and Track the status of Refund dispatched by post Posted: 12 Aug 2010 08:38 PM PDT Taxpayers can check their ITR processing status for AY 2009-10 in "My Account" ->"Efiling Processing Status"-> select "AY 2009-10". Over 24.5 Lakh ITRs for Individuals and HUF have been processed and over 4.2 Lakh Refunds sent through SBI - Refund... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

Service tax on Air Travel, Rate and Services at the airports free from service tax Posted: 12 Aug 2010 07:22 PM PDT Service tax on air travel has been imposed on international air travel for a passenger embarking in India and travelling in higher (other than economy) classes with effect from 01.05.2006. Vide the Finance Act,2010, Service tax on air travel was... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

Cashless medical facility likely to resume in a week Posted: 12 Aug 2010 07:00 PM PDT "I am hopeful that cashless mediclaim treatment would be fully restored in 7 days. Going forward we will see the component of co-pay gaining more importance. There would be different premiums for different hospitals," Max Healthcare Institute MD... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

92 officials under Central Vigilance Commission scanner for alleged involvement in corruption Posted: 12 Aug 2010 06:54 PM PDT The highest number of 21 officials belong to the Central Board of Excise and Customs followed by 13 from the Ministry of Railways, ten each from the Municipal Corporation of Delhi and Northern Coalfields Ltd, the CVC said in its performance report... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

DTC and changes proposed in wealth tax Provisions Posted: 12 Aug 2010 06:45 PM PDT Currently, under the provisions of the Wealth Tax Act, 1957 (WT Act), a tax payer, including an individual, a Hindu undivided family (HUF) or a company is liable to pay wealth tax at the rate of 1% on the amount exceeding a net wealth of Rs 30 lakh. [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

Property Sales at its low in and around Mumbai Posted: 12 Aug 2010 06:33 PM PDT A staggering 96.3 million square feet of residential space — or about 80,000 homes — is lying unsold in the Mumbai Metropolitan Region (MMR), the highest-ever inventory pile-up for the area. Sales are down 38% over last year. [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

India may 10 per cent import duty on power equipment for big projects Posted: 12 Aug 2010 06:23 PM PDT India will impose a 10 per cent import tax on power equipment for big projects within weeks to help level the playing field between domestic and foreign firms jostling in what may soon be the world's biggest market. The tax would reverse a policy of... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

Lok Sabha passes bill to promote and regulate foreign trade Posted: 12 Aug 2010 06:06 PM PDT The Lok Sabha on Thursday passed a bill aimed at promoting foreign trade and enabling the government to take swift action in trade disputes. The bill, which was passed by the Rajya Sabha on Aug 9, makes changes in the Foreign Trade (Development and... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

RBI decides to Liberalise ECB Policy for entities in Hotels, Hospitals and Software sector Posted: 12 Aug 2010 05:56 PM PDT The Reserve Bank on Thursday said it will consider allowing corporates in hotel, hospital and software sectors to raise overseas debts beyond $ 100 million, the stipulate limit now. "...it has now been decided to consider applications from the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

Government taking measures to make Hindi one of the official languages of the United Nation Posted: 12 Aug 2010 05:51 PM PDT The Government has been taking active measures to make Hindi one of the official languages of the United Nations. A high level Committee under the Chairmanship of the External Affairs Minister was constituted on 26 February 2003. This was followed... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

SEBI circular on Updation of investor related documents Posted: 12 Aug 2010 05:23 PM PDT SEBI vide circular No. SEBI/IMD/CIR No.12 /1 86868 /2009 dated December 11, 2009 has inter alia advised mutual funds to confirm whether all the investor related documents are maintained/ available with them. Further in case the investor related... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

Professional Competence Examination – November 2010 Application Form Posted: 12 Aug 2010 05:15 PM PDT Serial No 12 (b) of Form A (OMR Sheet) of the Professional Competence Examination – November 2010 Application Form requires CPT passing details and the students are required to fill up their roll number in that column. The relevant portion of the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

Availability of Physical Application Forms for Chartered Accountants November-2010 Examinations Posted: 12 Aug 2010 05:10 PM PDT 12th August,2010 IMPORTANT ANNOUNCEMENT Availability of Physical Application Forms for Chartered Accountants November-2010 Examinations Due to unavoidable difficulties in dispatching, there have been instances of shortage at certain decentralized... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

SEBI circular on Arbitration Mechanism in Stock Exchanges Posted: 12 Aug 2010 04:35 PM PDT In consultation with the stock exchanges, it has been decided to streamline the arbitration mechanism available at stock exchanges for arbitration of disputes (claims, complaints, differences, etc.) arising between a client and a member (Stock... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

Customs Notification No 81/2010, 10-08-2010, regarding amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) Posted: 12 Aug 2010 04:10 PM PDT 84 Goods specified against S. No. 270 A of the Table annexed to notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 21/2002-Customs, dated the 1st March, 2002 [G.S.R. 118 (E), dated the 1st March, 2002] [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

Customs Notification No 80/2010, 10-08-2010, Regarding amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) Posted: 12 Aug 2010 03:47 PM PDT The principal notification No.21/2002-Customs, dated the 1st March, 2002, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 118(E), dated the 1st March, 2002 and was last amended by... [[ This is a content summary only. Visit www.taxguru.in for full article ]] (File online ITR at just Rs. 119)

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