Fwd: TaxGuru : “Summary of Guidelines for Fast Track Exit mode for defunct companies under section 560 of the Companies Act, 1956” plus 17 more

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From: TaxGuru.in - Daily Tax and Corporate Law Update <info@taxguru.in>
Date: Wed, Jun 15, 2011 at 10:18 AM
Subject: TaxGuru : "Summary of Guidelines for Fast Track Exit mode for defunct companies under section 560 of the Companies Act, 1956" plus 17 more
To: palashbiswaskl@gmail.com

TaxGuru : "Summary of Guidelines for Fast Track Exit mode for defunct companies under section 560 of the Companies Act, 1956" plus 17 more

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• Summary of Guidelines for Fast Track Exit mode for defunct companies under section 560 of the Companies Act, 1956
• New Rules for Passing of the Resolution through Postal Ballot
• CBI registers a case against an Additional Commissioner of Income Tax for possession of disproportionate assets Rs.4.56 Crore (approx)
• Companies (Amendment) Regulations, 2011 in respect of Appointment of Regional Director
• Earnings from bribe may be made criminal offence under Income Tax Act
• ROC – Information to stakeholders for cleaning the pending work
• Inflation rises to 9.06 per cent in May
• FIEO demands extension of DEPB till GST launch
• Grant Thornton suggests Rationalisation of different taxes to promote affordable housing
• Review of the Deemed Export Policy – inviting comments from Members of Trade – Trade Notice No. 10
• RBI – Financial Stability Report June 2011
• Exim Bank's Line of Credit of USD 36.56 million to the Government of the United Republic of Tanzania
• RBI – Directions for submission of system audit reports from CISA qualified Auditor
• Opening of Branch/Subsidiary/Joint Venture/Representative Office or Undertaking Investment Abroad by NBFCs – Circular No. DNBS (PD) CC.No. 222/03.10.001/2010-11
• Seizure of red sanders wood weighing 6360 Kg. valued at Rs. 63.60 lakh by DRI officers of Siliguri under Kolkata Zonal Unit
• Check status of Tax Deducted at Source (TDS) online
• Consultative Meeting of IT Vendors and Accounting Consultancy Firms on XBRL
• Distinction Between A Public Limited Company And a Private Limited Company

Summary of Guidelines for Fast Track Exit mode for defunct companies under section 560 of the Companies Act, 1956 Posted: 14 Jun 2011 07:00 PM PDT In order to give an opportunity for fast track exit by a defunct company for getting its name struck off from the ROC, the Ministry Corporate Affairs (MCA), Government of India (GOI) has on 7 June 2011 decided vide General Circular No.36/2011 to... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

New Rules for Passing of the Resolution through Postal Ballot Posted: 14 Jun 2011 06:53 PM PDT The Central Government has vide Notification dated 30 May 2011 issued new set of rules for passing of resolution by Postal Ballot called, the Companies (Passing of Resolution by Postal Ballot) Rules, 2011 (New Rules), which will supersede the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

CBI registers a case against an Additional Commissioner of Income Tax for possession of disproportionate assets Rs.4.56 Crore (approx) Posted: 14 Jun 2011 06:04 PM PDT The Central Bureau of Investigation has registered a case against an Addl. Commissioner (IRS-90) of Income Tax, working in the office of Commissioner of Income Tax Guntur for allegedly amassing disproportionate assets approx Rs.4.56 crore. It was... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Companies (Amendment) Regulations, 2011 in respect of Appointment of Regional Director Posted: 14 Jun 2011 06:02 PM PDT . In the Companies Regulations, 1956, 1. In Regulation 2, after clause I the following clause shall be substituted, namely:- (d) ' Regional Director' means the person appointed by the Central Government in the Ministry of Corporate Affairs as a... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Earnings from bribe may be made criminal offence under Income Tax Act Posted: 14 Jun 2011 05:30 PM PDT In a bid to tackle tax evasion and check generation of illicit money, the government is considering classifying earnings from illegitimate sources like bribery and corruption as criminal offences under the income tax laws. 'The income earned from... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

ROC – Information to stakeholders for cleaning the pending work Posted: 14 Jun 2011 05:04 PM PDT All the stakeholders are hereby informed that Ministry of Corporate Affairs has opened all the work items filed prior to coming into force the amended Regulation 17 of The Companies Regulation, 1956 i.e. 15.02.2009 and are pending for user... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Inflation rises to 9.06 per cent in May Posted: 14 Jun 2011 05:02 PM PDT The Union Finance Minister Shri Pranab Mukherjee said that core inflation in May,2011 is higher at 8.71 per cent in comparison to 7.93 per cent in April,2011 and 10.34 per cent in March 2011. Finance Minister Shri Mukherjee said that we would keep a... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

FIEO demands extension of DEPB till GST launch Posted: 14 Jun 2011 04:46 PM PDT The Federation of Indian Exports Organisations (FIEO) today suggested that the 14-year-old Duty Entitlement Pass Book (DEPB) scheme be extended till the Goods and Services Tax (GST) is introduced in the country. The DEPB scheme should continue till... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Grant Thornton suggests Rationalisation of different taxes to promote affordable housing Posted: 14 Jun 2011 03:49 PM PDT Various taxes relating to real estate should be rationalised for affordable housing projects in order to tackle the rapid pace of urbanisation in the Indian cities, according to a survey conducted by accountancy firm Grant Thornton and CII. In view... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Review of the Deemed Export Policy – inviting comments from Members of Trade – Trade Notice No. 10 Posted: 14 Jun 2011 03:30 PM PDT Trade Notice No. 10 - Reference is invited to Trade No.9 dated 13.5.2011 on the above subject. The Second Meeting of the 'Committee to review the Scheme of the deemed export' was held on 3rd June, 2011. The Committee in this meeting has decided to... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

RBI – Financial Stability Report June 2011 Posted: 14 Jun 2011 03:30 PM PDT The Reserve Bank of India presented its assessment of the health of India's financial sector in its Financial Stability Report (FSR), released here today. The report reflects the Reserve Bank's continuing endeavour to communicate its assessment of... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Exim Bank's Line of Credit of USD 36.56 million to the Government of the United Republic of Tanzania Posted: 14 Jun 2011 02:28 PM PDT A.P. (DIR Series) Circular No. 71 Export-Import Bank of India (Exim Bank) has concluded an Agreement dated March 28, 2011 with the Government of the United Republic of Tanzania making available to the latter, a Line of Credit (LoC) of USD 36.56... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

RBI – Directions for submission of system audit reports from CISA qualified Auditor Posted: 14 Jun 2011 02:19 PM PDT DPSS.CO.OSD. No. 2764/06.11.001/2010-2011 It is clarified that the contents of the above circular are applicable to only those entities which operate a payment system under the Payment and Settlement Systems Act, 2007. Accordingly, the requirement... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Opening of Branch/Subsidiary/Joint Venture/Representative Office or Undertaking Investment Abroad by NBFCs – Circular No. DNBS (PD) CC.No. 222/03.10.001/2010-11 Posted: 14 Jun 2011 02:17 PM PDT DNBS (PD) CC.No. 222/03.10.001/2010-11 Please refer to Regulation No. 7 of the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Amendment) Regulations, 2004, dated July 07, 2004, in terms of which an Indian party requires... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Seizure of red sanders wood weighing 6360 Kg. valued at Rs. 63.60 lakh by DRI officers of Siliguri under Kolkata Zonal Unit Posted: 14 Jun 2011 01:23 PM PDT Acting on a specific intelligence, the DRI officers of Siliguri under Kolkata Zonal Unit effected a seizure of Red Sanders Wood weighing 6360 kg. valued at ` 63.60 lakh from a truck bearing registration no. NL-05D-6192 on 13.06.2011 at Leuchipokhri,... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Check status of Tax Deducted at Source (TDS) online Posted: 14 Jun 2011 01:09 PM PDT The consolidated annual tax statement in Form 26AS is now available to PAN holders. The endeavour is to streamline and synchronise the tax paid/deposited under each PAN and identify and resolve discrepancies, if any, at an early stage. Discrepancies... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Consultative Meeting of IT Vendors and Accounting Consultancy Firms on XBRL Posted: 14 Jun 2011 01:06 PM PDT E-Governance cell has decided to hold a meeting with IT vendors and Accounting Consultancy firms on 20.06.2011 at 3.00 pm at Conference Hall, MCA, 5th Floor, Shastri Bhawan, New Delhi. The agenda of the meeting is to comprehend and accommodate the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Distinction Between A Public Limited Company And a Private Limited Company Posted: 12 Jun 2011 08:01 PM PDT Distinction Between A Public Company And a Private Company – Following are the main points of difference between a Public Company and a Private Company :- 1. Minimum Paid-up Capital : A company to be Incorporated as a Private Company must have a... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

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