Updates from F4F

• ICAI Election '09 Updates: EIRC Council '10-'12
• ICAI Election '09 Updates: EIRC New Regional Council Team '10-'12
• Centre to Exempt Infrastructure NBFC from TDS on Interest: Assocham
• ICAI Election '09 Updates: EIRC New Central Council Team '10-'12
• A Good year for Investors Tough Time to MFs
• Anti-Dumping Duty imposed on Import of Flax Fabric
• Centre raises Objections on GST Draft Paper
• Changes in Takeover Regulations: Buyers to make open offer for upto 100% stake
• AAR: Tax Sops on Income for Foreign Oil E&P Companies
• Law Ministry Proposes on levying Tax to Fund Legal Reforms
• ICAI Election '09 Updates: SIRC Central Council Team
• ICAI Election '09 Updates: EIRC Central Votes Counting Status
• ICAI Election '09 Updates: EIRC Regional Council

ICAI Election '09 Updates: EIRC Council '10-'12 Posted: Results for ICAI Elections '09 Team 2010 - 2012 of EIRC New Central Council and EIRC New Regional Council (This is a just a summary, read the full article at www.forum4finance.com)

ICAI Election '09 Updates: EIRC New Regional Council Team '10-'12 Posted: Results for ICAI Elections '09 ELECTION TO THE TWENTY FIRST COUNCIL AND TWENTIETH REGIONAL COUNCILS. EIRC New Regional Council Team '10 - '12 (This is a just a summary, read the full article at www.forum4finance.com)

Centre to Exempt Infrastructure NBFC from TDS on Interest: Assocham Posted: Industry body Assocham has asked the Centre to exempt infrastructure non-banking financial companies from tax deducted at source on interest paid to them. In a representation sent to the government, the chamber said this would give NBFCs sufficient cash flows to support their working capital cycle.  (This is a just a summary, read the full article at www.forum4finance.com)

ICAI Election '09 Updates: EIRC New Central Council Team '10-'12 Posted: Results for ICAI Elections '09 ELECTION TO THE TWENTY FIRST COUNCIL AND TWENTIETH REGIONAL COUNCILS. EIRC New Central Council Team '10 - '12 (This is a just a summary, read the full article at www.forum4finance.com)

A Good year for Investors Tough Time to MFs Posted: Investors got the upper hand in 2009, while fund houses struggled to cope with regulatory changes and upheavals in the economy. The year was particularly significant as the market regulator Sebi acted in favour of the investors and eased norms making it easier for them to invest in mutual funds. The key changes include abolishment of entry load on purchase of schemes and allowing MFs to be traded on the stock exchanges.  (This is a just a summary, read the full article at www.forum4finance.com)

Anti-Dumping Duty imposed on Import of Flax Fabric Posted: The government has imposed an anti-dumping duty of up to Rs 209 per meter on the import of flax fabric, used in curtains, from China and Hong Kong to safeguard the domestic industry. The directorate general of anti-dumping and allied duties has recommended the levy after concluding that the imports are taking place at very low prices and have caused material injury to the domestic industry.  (This is a just a summary, read the full article at www.forum4finance.com)

Centre raises Objections on GST Draft Paper Posted: The views of the Centre and the states don't seem to be in congruence regarding the modalities of the Goods and Services Tax. The Centre wants a common threshold for both goods and services and a single rate for the Goods and Services Tax. Also, it wants the electricity duty, purchase tax to be subsumed in the GST along with bringing in goods like natural gas, alcohol, diesel and petro products in the ambit too. (This is a just a summary, read the full article at www.forum4finance.com)

Changes in Takeover Regulations: Buyers to make open offer for upto 100% stake Posted: Corporate acquisitions in India could become costlier with market regulator SEBI mulling making it mandatory for acquirers to make an offer for up to 100 per cent stake in any listed company. As of now, an open offer for a minimum of 20 per cent in the target company is required to be made by any entity that has purchased 15 per cent equity, either from the promoters or the open market.  (This is a just a summary, read the full article at www.forum4finance.com)

AAR: Tax Sops on Income for Foreign Oil E&P Companies Posted: Income of foreign companies providing technical services and data to oil exploration and production companies in India will be taxed at a concessional rate, the Authority for Advance Rulings (AAR) on income tax has said in a recent decision. The ruling will be a big help to oil prospecting companies in India as they step up exploration activities, allowing them to avail of technical services and data more easily. (This is a just a summary, read the full article at www.forum4finance.com)

Law Ministry Proposes on levying Tax to Fund Legal Reforms Posted: The law ministry has proposed creation of a special purpose vehicle aimed at implementing legal reforms. "The special purpose vehicle (SPV) will be formed as a society which will be fully funded by the central government. It may also, in the future, be funded from an appropriate tax, say a legal reform cess that will be applicable to all citizens of the country, on the lines of the existing education cess," a law ministry proposal on judicial reforms said. (This is a just a summary, read the full article at www.forum4finance.com)

ICAI Election '09 Updates: SIRC Central Council Team Posted: Results for ICAI Elections '09 Key Highlights: SIRC Central Council Results: Team 2010-12 (This is a just a summary, read the full article at www.forum4finance.com)

ICAI Election '09 Updates: EIRC Central Votes Counting Status Posted: Results for ICAI Elections '09 ELECTION TO THE TWENTY FIRST COUNCIL AND TWENTIETH REGIONAL COUNCILS. EIRC Central Vote Counting Status for ICAI Election '09 is as follows:- (This is a just a summary, read the full article at www.forum4finance.com)

ICAI Election '09 Updates: EIRC Regional Council Posted: Results for ICAI Elections '09 ELECTION TO THE TWENTY FIRST COUNCIL AND TWENTIETH REGIONAL COUNCILS. EIRC Regional Council Vote Count Status (This is a just a summary, read the full article at www.forum4finance.com)

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