Direct Tax, Customs, VAT , Sebi , Financial Management , Other Laws and International Business

---------- Forwarded message ----------
From: CA Saiprasad Bagrecha <saiprasadbagrecha@gmail.com>
Date: Wed, Feb 29, 2012 at 9:44 AM
Subject: {jalgaoncas} Direct Tax, Customs, VAT , Sebi , Financial Management , Other Laws and International Business
To:

Dear All,

 

Find enclosed text on the above topics.

 

http://www.indiantaxhome.com/2012/02/earning-up-to-rs-5-l-salary-no-need-to.html

·         Earning up to Rs 5-L salary? No need to file returns

Individuals with annual income up to Rs 5 lakh are now exempted from filing personal income tax return for the current financial year. This relief was proposed in the Union Budget last year.

 

http://www.indiantaxhome.com/2012/02/power-ministry-moves-cabinet-note-for.html

·         Power ministry moves Cabinet note for 19% duty on power equipment imports

The power ministry has moved a Cabinet note which is believed to have proposed imposition of 19 per cent duty on imports of elctricity equipment for large power projects.

 

http://www.indiantaxhome.com/2012/02/vat-worth-rs-11671-crore-due-from-424.html

·         VAT worth Rs 11,671 crore due from 424 companies in Guj: Vala

Gujarat's Finance Minister Vaju Vala today informed the state assembly that over 424 companies in the state owe over Rs 11,671 crore as Value Added Tax (VAT) dues to the government.

 

http://www.indiantaxhome.com/2012/02/sebi-order-for-fair-valuation-of-short.html

·         SEBI order for 'fair valuation' of short-term debt leaves fund managers in a fix

A recent Sebi notification on valuation of debt funds has left fund managers in a quandary. The regulator has asked fund houses to value debt instrument below 61 days on the basis of a "fair valuation" method worked out by asset management companies.

 

http://www.indiantaxhome.com/2012/02/satyam-scam-hc-asks-sebi-not-to-begin.html

·         Satyam scam: HC asks Sebi not to begin independent investigation

In partial relief to two accused in the multi-crore Satyam scam, the Bombay High Court on Monday directed the Securities and Exchange Board of India (Sebi) not to begin its independent inquiry into the controversy until May 7.

 

http://www.indiantaxhome.com/2012/02/health-ministry-rejects-dops.html

·         Health ministry rejects DoP's recommendation on pricing of essential drugs

The health ministry has suggested that the pricing of essential medicines be based on either the average price of the three cheapest brands or the government's bulk procurement price, rejecting a draft policy of the department of pharmaceuticals.

 

http://www.indiantaxhome.com/2012/02/government-to-set-up-agency-to-scan.html

·         Government to set up agency to scan tweets, emails and updates

The government is setting up an internet scanning agency which will seek to monitor all web traffic passing through internet service providers in the country. The scanning agency to be called National Cyber Coordination Centre (NCCC), will issue 'actionable alerts' to government departments in cases of perceived security threats.

 

http://www.indiantaxhome.com/2012/02/sensex-plunges-478-points-on-spiralling.html

·         Sensex plunges 478 points on spiralling oil prices and profit booking

After an uninterrupted rise in stocks since January, investors needed an excuse to take home some profits. Higher oil prices offered them the perfect reason to dump stocks, resulting in benchmark indices posting their highest single-day fall in four months.

 

http://www.indiantaxhome.com/2012/02/npcil-in-talks-with-lic-foreign-banks.html

·         NPCIL in talks with LIC, foreign banks to raise debt

After roping in State-run lending agency Power Finance Corporation, Nuclear Power Corporation of India Ltd (NPCIL) has now initiated talks with Life Insurance Corporation (LIC) as part of its debt raising programme to finance its ambitious Rs 3,00,000-crore investment plan for the 12th Plan Period.

 

http://www.indiantaxhome.com/2012/02/wiser-from-fy12-shock-budget-to-peg.html

·         Wiser from FY12 shock, Budget to peg crude at $110

Union Budget 2012-13 will estimate the crude oil price of the Indian basket to average above $110 a barrel in 2012-13 as against $90 dollar a barrel set in the current fiscal, an assumption that led to a higher-than-expected subsidy outgo, officials familiar with the matter said.

 

http://www.indiantaxhome.com/2012/02/budget-2012-india-inc-debates-on-tax.html

·         Budget 2012: India Inc debates on tax holidays for smaller IT firms

Small and mid-sized technology companies not only need tax incentives but also need a simpleto-operate tax regime with no ambiguities for the Indian IT industry to be competitive on a global scale, a panel of experts concluded at a recently-held pre-Budget debate.

 

http://www.indiantaxhome.com/2012/02/accumulating-expectations-from-budget.html

·         Accumulating expectations from the Budget

Most of those watching closely the mining and steel market are eagerly waiting for something special to happen in the coming days, something that would diminish the fear of the unknown and take the industry boldly forward.

 

http://www.indiantaxhome.com/2012/02/budget-2012-will-aam-admi-get-some-tax.html

·         Budget 2012: Will the aam admi get some tax sops?

Budget being round the corner, the so called 'Aam Admi' would be curious to know if there will be any increase in their disposable income. Every year there is a general expectation from the individual tax payers on the budget proposals relating to personal taxation, especially on the tax rates/tax slabs.

 

http://www.indiantaxhome.com/2012/02/cotton-exports-to-top-100-lakh-bales.html

·         Cotton exports to top 100 lakh bales this year

India's cotton exports will cross 100 lakh bales for the first time, marking a key milestone in the country's sevenyear journey from net importer to the world's second largest exporter with the cheapest cotton.

 

http://www.indiantaxhome.com/2012/02/lower-supplies-likely-to-lift-tea.html

·         Lower supplies likely to lift tea prices 10-15%

Consumers may have to pay about 10-15% more for tea soon as wholesale prices rise on the back of a faltering supply. "There is a shortage of tea in the country. We think prices of good premium teas will go up by Rs20 per kg to Rs 210-Rs 220 per kg. Similarly, low-end teas will go up by Rs15 per kg to Rs100.

http://www.indiantaxhome.com/2012/02/buffett-my-successor-is-in-dark-too.html

·         Buffett: My successor is in the dark too

In his annual investor letter on Saturday, Buffett said Berkshire's board had identified someone who will replace him as CEO when the 81-year-old investor eventually leaves the post. But he did not identify that person in the letter, and in a CNBC interview on Monday, he rejected suggestions that he should.

--

=======================================================================================
CA Saiprasad P. Bagrecha 

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