Archive for June, 2011

RBI Notification: Overseas Direct Investment- Liberalisation/ Rationalisation

Jun-30th-2011

RBI issued a notification regarding Overseas Direct Investment, key points of the notification are as under: RBI/2010-11/584 June 29, 2011 Attention of the Authorised Dealer (AD – Category I) banks is invited to the Notification No. FEMA 120/RB-2004 dated July 7, 2004 [Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Amendment) Regulations, 2004]

Notification No. 41/2011 – Service Tax

Jun-29th-2011

New Delhi, the 27th June, 2011 Notification No. 41/2011 – Service Tax   G.S.R. (E).- In exercise of the powers conferred by clause (a) and clause (hhh) of  sub-section (2) of section 94 of the Finance Act, 1994 (32 of 1994), the Central Government, on being satisfied that it is necessary in the public interest

CBDT Notification: Exemption of furnishing Income tax Return u/s 139(1) to specified Persons for Asst. Year 2011-12

Jun-29th-2011

NOTIFICATION NO. 36/2011 [F. NO. 142/09/2011 (TPL)], DATED 23-6-2011 In exercise of the powers conferred by sub-section (1C) of section 139 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby exempts the following class of persons, subject to the conditions specified hereinafter, from the requirement of furnishing a return of income under

CBDT Notified the Cost Inflation Index for the Financial Year 2011-12

Jun-29th-2011

NOTIFICATION NO. 35/2011 [F. NO. 142/5/2011-TPL] DATED 23-6-2011 In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue),

CBDT Press Release: Amendment of DTAA with Government of Singapore

Jun-28th-2011

New Delhi, dated the 24th June, 2011 PRESS RELEASE The Government of India signed a Protocol, amending Double Taxation Avoidance Agreement (DTAA) with Government of Singapore for effective exchange of information in the tax matters on 24th June, 2011. The Protocol as signed by Shri Prakash Chandra, Chairman, Central Board of Direct Taxes on behalf