Fwd: TaxGuru.in : Legal & Tax Updates

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From: LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in>
Date: Wed, Aug 18, 2010 at 9:45 AM
Subject: TaxGuru.in : Legal & Tax Updates
To: palashbiswaskl@gmail.com

TaxGuru.in : Legal & Tax Updates

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• Change in procedure for registration of Digital Signature Certificate (effective from 17/08/2010) and Frequently asked questions
• Easy Exit Scheme Affidavits, Board Reolution and Statement of Account in Excel Word Format
• I-T department claims jurisdiction to levy tax on acquisition of Hutch-Essar by Vodafone
• Short passwords not secure, Longer passwords are better
• Supreme Court admits excise department's plea against Hindustan Coca-Cola Beverages
• Rs. 786.27 Crore Seized During Search and Seizure Operations in 2009-10
• HC grants interim stay on Service Tax levy on buildings under construction
• NFCG invites proposals for accreditation / financial grant for the year 2010-11
• Setting up of Technology Advisory Group for Unique Projects Including New Pension Scheme (NPS) and Goods and Service Tax (GST)
• India's exports of goods and services are expected to double by 2014
• Vedanta deal: Cairn Energy may pay $1 bn as capital gains tax

Change in procedure for registration of Digital Signature Certificate (effective from 17/08/2010) and Frequently asked questions Posted: 17 Aug 2010 08:54 PM PDT I am trying to file Income Tax return (ITR 6) of a company. Do I have to use a Digital Signature? Is this mandatory only for domestic companies- are there any exceptions? What type of Digital signature should I use? Should the Digital Signature... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Easy Exit Scheme Affidavits, Board Reolution and Statement of Account in Excel Word Format Posted: 17 Aug 2010 08:50 PM PDT 1. Download Affidavit (to be given individually by director(s)) (As per annexure A of the Easy Exit Scheme 2010). 2. Download Indemnity bond (to be given individually or collectively by director(s) (As per annexure B of the Easy Exit Scheme 2010) [[ This is a content summary only. Visit www.taxguru.in for full article ]]

I-T department claims jurisdiction to levy tax on acquisition of Hutch-Essar by Vodafone Posted: 17 Aug 2010 07:58 PM PDT The Indian Income Tax department on Monday told the division bench of the Bombay High Court that it has the jurisdiction to levy tax on the $11-billion acquisition of Indian telecom major Hutch-Essar by Vodafone. The division bench has been hearing... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Short passwords not secure, Longer passwords are better Posted: 17 Aug 2010 07:53 PM PDT The availability of password-cracking tools based on increasingly powerful graphics processors means that even carefully chosen short passwords are liable to crack under a brute-force attack. A password of less than seven characters will soon be... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Supreme Court admits excise department's plea against Hindustan Coca-Cola Beverages Posted: 17 Aug 2010 07:43 PM PDT The Supreme Court on Monday admitted the excise department's plea alleging that Hindustan Coca-Cola Beverages (HCCBL) was liable to pay duty on water treated and purified by the company for supply to vendors for producing aerated beverages. [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Rs. 786.27 Crore Seized During Search and Seizure Operations in 2009-10 Posted: 17 Aug 2010 07:37 PM PDT Government of India has taken several punitive and deterrent steps to unearth black money. These include scrutiny of returns, surveys, search and seizure action, imposition of penalty and launching of prosecution in appropriate cases. [[ This is a content summary only. Visit www.taxguru.in for full article ]]

HC grants interim stay on Service Tax levy on buildings under construction Posted: 17 Aug 2010 07:31 PM PDT The Maharashtra Chamber of Housing Industry (MCHI) has said it is hopeful of an early decision on the service tax issue. The second hearing of the High Court writ petition filed by MCHI challenging Service Tax levy on buildings under construction... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

NFCG invites proposals for accreditation / financial grant for the year 2010-11 Posted: 17 Aug 2010 06:50 PM PDT National Foundation for Corporate Governance (NFCG) has been established by the Ministry of Corporate Affairs in partnership with CII, ICSI, ICAI, ICWAI and NSE to function as the National Apex platform for promotion of good Corporate Governance... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Setting up of Technology Advisory Group for Unique Projects Including New Pension Scheme (NPS) and Goods and Service Tax (GST) Posted: 17 Aug 2010 06:47 PM PDT Government of India has constituted a seven member Technology Advisory Group for Unique Projects (TAGUP) on June 1, 2010, headed by the Chairman, Unique Identification Authority of India (UIDAI), Shri Nandan Nilekani to address various technological... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

India's exports of goods and services are expected to double by 2014 Posted: 17 Aug 2010 06:23 PM PDT As per the Foreign Trade Policy, 2009-14, India's exports of goods and services are expected to double by 2014. Government reviews the export performance of the various sectors through consultation with the Export Promotion Councils (EPC) and the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Vedanta deal: Cairn Energy may pay $1 bn as capital gains tax Posted: 17 Aug 2010 05:38 PM PDT The Finance Ministry on Monday said Cairn Energy Plc is likely to pay close to $1 billion as capital gains tax on the $8.48 billion it expects to get from selling majority stake in its India arm to Vedanta Resources. "This deal will attract a... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

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