Archive for August, 2010

Service tax on on-going works contracts entered into prior to 01.06.2007

Aug-25th-2010

CBEC issued the clarification regarding Service tax on on-going works contracts entered into prior to 01.06.2007, key points of the notification are as under: Circular No. 128/10/2010-ST   24 thAugust, 2010.  Subject: Service tax on on-going works contracts entered into prior to 01.06.2007 – regarding –             It has been brought to the notice of the

Income tax Department change in the registration procedure of DSC with effect from 17.08.2010

Aug-21st-2010

The Authorized Signatory must use a fresh DSC having encrypted value of his PAN, as issued by Certifying Authorities with effect from 01/08/2010 in the following cases: Non-Resident Companies where the Directors are foreign nationals Companies where the I-T Return is being filed for fist Time. Companies where managing directors has changed and other directors

Service tax on commercial training and coaching – clarification whether ‘donation’ is ‘consideration’ – regarding.

Aug-18th-2010

  CBEC issued a clarification on Donation/Grant Received by coaching institute, highlights of of the circular are auder: Circular No.127/09/2010 – ST 16  th August 2010 Subject: Service tax on commercial training and coaching – clarification whether ‘donation’ is ‘consideration’ – regarding.             A representation has been received seeking clarification whether donations and grants-in-aid received

RTGS / NEFT Return Transactions – Information for Account Statement

Aug-16th-2010

RBI Issued a notification to provide the RTGS Return information in the account statement, the highlits of the notification are as under: RTGS / NEFT Return Transactions – Information for Account Statement Please refer to our circular RBI / 2008-09 / 499 (DPSS CO RTGS No. 2246 / 04.04.002 / 2008-2009) dated June 16, 2009.

RBI releases Final Guidelines on Regulatory Framework for Core Investment Companies (CICs)

Aug-16th-2010

RBI has Issued the filnal guidelines on Regulatory Framework for Core Investment Companies (CICs), final gudelines are as under: RBI/2010-11/168 DNBS (PD) CC.No. 197/03.10.001/2010-11 August 12, 2010 All Core Investment Companies Dear Sir, Regulatory Framework for Core Investment Companies (CICs) The Bank had announced in the Annual Policy 2010-2011 that companies which have their assets