Displaying 510 - 520 of 542 in 55 pages

Interest on NRO account to be taxed as investment income

  On 14 June 2008 at 17:44

A large number of non-resident Indians (NRIs), who make earnings in foreign exchange, keep money in India in non-resident ordinary (NRO) account. The RBI regulations provide that the balance in the NRO account is not eligible for remittance outside I ...

  0 comments |   2185 hits

Excise exemption norms relaxed

  On 13 June 2008 at 16:18

The finance ministry has relaxed the area-based excise duty exemption norms, entitling companies to seek higher refunds based on their value addition. Manufacturing units with 15 per cent value addition are now eligible to seek special rate of refund ...

  0 comments |   261 hits

No tax relief for new IT investment regions

  On 12 June 2008 at 16:10

Yielding to demand from the IT industry to create modern integrated townships that would be bereft of infrastructure snags, the Union government has given a green signal for establishment of Information Technology Investment Regions (ITIRs) across th ...

  0 comments |   302 hits

Govt To Launch Biometric PAN Cards For New Income Tax Payers

  On 12 June 2008 at 16:10

The government will soon introduce biometric permanent account numbers (PAN) for income tax payers, though initially only new applicants would be brought under its net, Finance Minister P. Chidambaram said on Monday."There is progress on biometric PA ...

  0 comments |   412 hits

ONGC seeks Rs 3,000 crore tax rebate

  On 12 June 2008 at 16:07

Public sector explorer ONGC is finding it hard to forego its claim of over Rs 3,000 crore as tax exemption. Citing legal precedents and reasoning, the oil major has again sought Cabinet secretariat’s approval to take a legal recourse before the incom ...

  0 comments |   317 hits

IT department issues notices to four ministers of MP cabinet

  On 09 June 2008 at 09:07

BHOPAL: The Income Tax authorities have issued notices to four ministers of Madhya Pradesh cabinet for not filing proper returns for years and imposed a penalty of Rs 5,000 each on them.The notices were issued against four ministers - Kusum Mehdele, ...

  0 comments |   311 hits

Central Sales Tax (CST) reduced to 2% from 1st June, 2008

  On 31 May 2008 at 13:04

On the basis of the discussions between the Empowered Committee (EC) of State Finance Ministers and the Union Finance Minister regarding the compensation package, the Government of India, Ministry of Finance, Department of Revenue has issued a notifi ...

  0 comments |   364 hits

Judge arrested by CBI

  On 30 May 2008 at 18:44

The CBI has arrested Shri. Jugal Kishore, an Accountant Member of the Income Tax Appellate Tribunal posted in the Kolkata Bench for allegedly receiving a bribe of Rs 30 lakh. Four others i.e. Shri. S K Tulsyan and Ravi Tulsyan, Chartered Accountants, ...

  0 comments |   457 hits


  On 28 May 2008 at 15:07


  0 comments |   367 hits

Ponds India Vaseline a Drug: SC

  On 28 May 2008 at 00:30

The Hon'ble Supreme Court held that white petrolem jelly was a drug and not a cosmetic even if it had no curative value. It was used for cure and treatment of various skin disorders and not for beautification or care of the skin in the normal circums ...

  0 comments |   328 hits


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