| Consolidated Account Statement (CAS) for Mutual Funds Posted: 02 Dec 2011 07:50 PM PST 
SEBI has directed fund houses to send a common monthly account statement to investors who transact in any one of the folios of the funds and a common half-yearly account statement for all non-transacted folios. The common account statement (CAS) will include information on the transaction charge paid to the distributor. What is CAS? Unlike a normal account statement issued by a mutual fund...  |
| INCOME-TAX (NINTH AMENDMENT) RULES, 2011 Posted: 02 Dec 2011 07:31 PM PST 
INCOME-TAX (NINTH AMENDMENT) RULES, 2011 - INSERTION OF RULE 40BA AND FORM NO. 29C NOTIFICATION NO. 60/2011 [F. NO. 133/70/2011-SO(TPL)], DATED 1-12-2011 In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:- 1. (1) These rules...  |
| SALE OF SIM CARD SERVICE TAX OR VAT :SUPREME COURT DECISION Posted: 02 Dec 2011 01:00 AM PST 
The disputes over the chargeability of Service Tax or Vat on the sale of SIM Cards have come to an end by virtue of the judgment by "Honorable Supreme court in case of Idea Mobile Communication Ltd. versus C.C.E & C., Cochin". Earlier, the Department of Sales Tax, State of Kerala, claims the activation charges as part of the sale consideration of SIM cards on the grounds that activation...  |
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