Direct Tax, Customs , Sebi, Rbi , Financial Management and Empanelment - 17 Items

---------- Forwarded message ----------
From: CA Saiprasad Bagrecha <saiprasadbagrecha@gmail.com>
Date: Thu, Feb 16, 2012 at 9:21 PM
Subject: {jalgaoncas} Direct Tax, Customs , Sebi, Rbi , Financial Management and Empanelment - 17 Items
To:


Dear All,

Find enclosed text on the above topics along with link to the detailed text.

http://www.indiantaxhome.com/2012/02/185-mat-on-sezs-to-continue-despite.html

·         18.5% MAT on SEZs to continue despite opposition

The minimum alternate tax (MAT) of 18.5% imposed on Special Economic Zones (SEZs) during last year's Budget is all set to continue even this year, despite the pressure by IT body Nasscom, industry sources have said.

 

http://www.indiantaxhome.com/2012/02/service-tax-disputes-body-in-works.html

·         Service tax disputes body in works

Rising instances of disputes over service tax claims has prompted the government to consider setting up a settlement commission on the lines of the ones in existence for income-tax and excise & customs.

 

http://www.indiantaxhome.com/2012/02/sebi-to-discuss-sme-platform-delay-with.html

·         Sebi to discuss SME platform delay with SEs

Securities and Exchange Board of India (Sebi) will convene a meeting with top stock exchange officials on Wednesday to discuss the delay in launching separate trading platforms for small- and mid-sized companies, said two people familiar with the matter.

 

http://www.indiantaxhome.com/2012/02/at-78-billion-rbi-sales-hit-40-month.html

·         At $ 7.8 billion, RBI $ sales hit 40-month high

The Reserve Bank of India sold $7.8 billion dollars, the highest in nearly 40 months, to prevent an accelerated slide of the Indian rupee versus the US dollar on speculation that weak economic fundamentals will lead to foreigners pulling out funds.

 

http://www.indiantaxhome.com/2012/02/rbi-issues-guidelines-for-white-label.html

·         RBI issues guidelines for White Label ATMs owned by non-banks

In a bid to accelerate the growth and wider spread of ATMs, the Reserve Bank today issued draft guidelines for permitting non-banking entities to set up, own and operate such money dispensing machines.Non-bank entities proposing to set up such service will have to have a minimum net worth of Rs 100 crore, RBI said.

http://www.indiantaxhome.com/2012/02/rbi-to-ensure-availability-of-banking.html

·         RBI to ensure availability of banking services in North-eastern states

The Reserve Bank of India has stepped up to ensure the implementation of Financial Inclusion Plan in the North-eastern states in the country. The plan has witnessed a slow progress in the area. RBI General Manager (Meghalaya), Mr. P. Shyam Sunder said.

 

http://www.indiantaxhome.com/2012/02/government-set-to-slash-subsidy-on-di.html

·         Government set to slash subsidy on di-ammonium phosphate, muriate of potash for FY'13

The government is set to reduce further the subsidy on non-urea fertilisers like di-ammonium phosphate (DAP) and muriate of potash (MoP), in the wake of strengthening rupee and bearish global price.

 

http://www.indiantaxhome.com/2012/02/airlines-likely-to-expand-overseas-as.html

·         Airlines likely to expand overseas as rule relaxed

In a move that may fast-track domestic carriers' expansion plans in international market, civil aviation ministry on Tuesday allowed them to fully utilise the allocated bilateral rights under the Air Service Agreements (ASAs).Under ASAs, the government fixes the number of flights\seats to be operated by designated carriers of both countries each week.

 

http://www.indiantaxhome.com/2012/02/non-basmati-rice-exports-may-be-allowed.html

·         Non-basmati rice exports may be allowed through non-EDI ports too

The Commerce Ministry is pushing for allowing exports of non-basmati rice through ports that are not connected via Electronic Data Interchange (EDI). In September last year, the Government had allowed exports of all varieties of non-basmati rice out of privately held stocks only through Custom EDI ports.

http://www.indiantaxhome.com/2012/02/investors-shun-elss-park-money-in-tax.html

·         Investors shun ELSS, park money in tax-free bonds

The local mutual fund industry is finding it tough to sell its tax-saver equity schemes as their poor performance, uncertain stock market prospects and competition from taxsaving bonds have taken the sheen off the product.

 

http://www.indiantaxhome.com/2012/02/mcx-to-launch-public-issueon-feb-22.html

·         MCX to launch public issueon Feb 22

The initial public offering of Multi Commodity Exchange (MCX) will open on February 22 and close on February 24, said sources. The commodity exchange has received regulatory approval for the launch of its initial public offering.

 

http://www.indiantaxhome.com/2012/02/bse-futures-and-options-trade-takes.html

·         BSE futures and options trade takes a jump

The BSE derivatives volume and turnover have finally taken wing after waiting for over a decade of segment's official launch on June 9, 2000. On Wednesday in all some 13.16 lakh contracts were traded and total derivatives turnover of the exchange was at Rs 32,418 crore, BSE's highest.

 

http://www.indiantaxhome.com/2012/02/budget-2012-foreign-assets-accounts.html

·         Budget 2012: Foreign assets, accounts under scanner as shock therapy advised for tax evaders

Indians with undisclosed foreign assets and offshore bank accounts will be in for a shock this Budget if the finance ministry clears a proposal empowering income tax authorities to reopen assessments up to 16 years as against 6 years now.

 

http://www.indiantaxhome.com/2012/02/tax-exemption-cap-at-r15-lakh-to-boost.html

·         Tax exemption cap at R1.5 lakh to boost domestic savings likely

Finance minister Pranab Mukherjee is likely to increase the income tax exemption limit on individual savings from R1 lakh at present by up to R50,000, in a bid to raise the savings rate which has been falling since 2007-08.

http://www.indiantaxhome.com/2012/02/cag-wants-to-audit-all-government-llps.html

·         CAG wants to audit all government LLPs

Comptroller & Auditor General has asked for powers to audit all limited liability partnerships (LLPs) in which the government holds a majority stake directly or indirectly. Under the current rules, LLPs that have a turnover of less than Rs 40 lakh a year or where the total contribution by partners does not exceed Rs 25 lakh, are not required to get their accounts audited.

 

 

EMPANELMENT LINKS:

http://www.indiantaxhome.com/2012/02/inter-connected-stock-exchange-of-india.html

 

·         Inter-Connected Stock Exchange Of India Limited

 

 

http://www.indiantaxhome.com/2012/02/headquarters-western-command.html

 

·         Headquarters Western Command

 

 

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CA Saiprasad P. Bagrecha 

Mob:- +91- 98235 26824 / + 91-82750 32822