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

---------- Forwarded message ----------

From: CA Saiprasad Bagrecha <saiprasadbagrecha@gmail.com>
Date: Wed, Feb 22, 2012 at 9:49 AM
Subject: {jalgaoncas} Direct Tax, VAT, International Business, Financial Management and Other Laws
To:

Dear All,

 

Find enclosed text along with detailed links to the above topics.

 

http://www.indiantaxhome.com/2012/02/this-year-too-no-tax-returns-for.html

·         This year too, no tax returns for salaries up to Rs 5 lakh

Millions of salaried taxpayers will continue to enjoy a procedural relief of not having to file their income-tax returns even for the current financial year (2011-12).

 

http://www.indiantaxhome.com/2012/02/states-want-cst-raised-to-4-till-row-is.html

·         States want CST raised to 4% till row is settled

In ANOTHER twist to the row over the central sales tax (CST) compensation, a few states have now come up with a new formula: raise the tax to the original 4% and retain it at that level till the Centre is in a position to compensate states for the revenue loss arising from the proposed phasing out of the tax.

 

http://www.indiantaxhome.com/2012/02/speed-up-roll-out-obligation-norms-for.html

·         Speed up roll-out obligation norms for dual-tech players: TRAI

The Telecom Regulatory Authority of India (TRAI) has asked the Department of Telecom to expedite decision on imposing roll-out obligation on dual-technology players – Reliance Communications and Tata Teleservices.

 

http://www.indiantaxhome.com/2012/02/investor-snub-makes-dvrs-issued-by-tata.html

·         Investor snub makes DVRs issued by Tata Motors, Pantaloon Retail and Gujarat NRE Coke a losing proposition

Shares having differential voting rights (DVRs) issued by Indian companies have been quoting at sharp discounts to the ordinary shares, causing concern among holders over the restricted scope for capital appreciation.

 

http://www.indiantaxhome.com/2012/02/dont-ignore-tax-saving-mutual-funds-in.html

·         Don't ignore tax-saving mutual funds in a beaten-down equity market

Investors are shunning equity-linked savings schemes (ELSS), or tax-saving mutual fund schemes, this tax planning season, say investment advisors. According to them, investors have invested a measly Rs 200 crore in the first four months of the tax saving season, which starts from October to March.

 

http://www.indiantaxhome.com/2012/02/like-polls-it-is-difficult-to-predict.html

·         Like the polls, it is difficult to predict the Sensex

Sensex rose 0.8 per cent on Friday to record their seventh straight weekly rise, their best run in nearly two years, bolstered by strong foreign fund inflows amid growing concerns the market has run up too fast in a short span of time.

 

http://www.indiantaxhome.com/2012/02/budget-2011-retail-sector-calls-for.html

·         Budget 2011: Retail sector calls for industry status

If organised retail is to grow at its own projected pace, the Union government needs to accord it an industry status first. It needs to also implement the goods and service tax ( GST), simplify taxes and invest on infrastructure development.

 

http://www.indiantaxhome.com/2012/02/budget-2012-customs-duty-of-natural.html

·         Budget 2012: Customs duty of natural rubber needs to be revisited for tyre industry, says FICCI

While the Customs Duty rate on tyres and the peak rate of Customs Duty on all non agricultural products were progressively reduced in the Union Budgets during the last few years, in the case of Natural Rubber the rate of 20% Customs Duty has remained unchanged for over a decade.

 

http://www.indiantaxhome.com/2012/02/corporate-houses-smes-flock-to-gold.html

·         Corporate houses, SMEs flock to gold ETFs for better returns

India's purchase of paper gold doubled last year as corporates and SMEs, seeking a safe haven for their investments, invested heavily in gold exchange-traded funds (ETFs), a traditional favourite of wealthy individuals and households.

 

http://www.indiantaxhome.com/2012/02/pfizer-talks-to-banks-about-units-3bn.html

·         Pfizer talks to banks about unit's $3bn part-flota

Pfizer is considering plans to raise $3bn this year through a part-flotation of its animal health division, as it examines ways to spin off a business valued at as much as $18bn.

http://www.indiantaxhome.com/2012/02/us-airlines-sue-eximbank-for-giving.html

·         US airlines sue EximBank for giving loan guarantee to AirIndia

The US airline industry has sued the Export Import Bank (Exim) alleging that its financial support to Indian national carrier Air India, which itself is in deep red, will harm the American airlines. In a revised complaint filed before a US court on Friday last week.

 

http://www.indiantaxhome.com/2012/02/walmart-to-buy-majority-stake-in.html

·         Walmart to buy majority stake in Chinese e-commerce firm Yihaodian

Wal-Mart Stores Inc said on Monday it is taking a controlling stake in Chinese e-commerce firm Yihaodian, as the world's largest retailer seeks new revenue sources to fend off rising competition in the world's fastest-growing major economy.

 

http://www.indiantaxhome.com/2012/02/pramerica-mutual-fund-to-buy-39-stake.html

·         Pramerica Mutual Fund to buy 39% stake in Prudent Corp for Rs 20 crore

Pramerica Mutual Fund is close to buying a 39% stake in Ahmedabad-based retail distribution outfit Prudent Corporate Advisory Services for about Rs 20 crore, according to two persons close to the deal.

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CA Saiprasad P. Bagrecha 

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