Insurance sector asked for separate limit under section 80C for long-term saving |Tax Guru 
We would recommend a separate limit for deductions under Section 80C for long-term saving instruments such as life insurance. Currently, the deduction under Section 80C also includes short-term saving instruments such as mutual funds a
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ving.html
Life insurers demanded EEE method instead of EET in DTC, allow to carry forward loss for 12 years and service tax exemption | Tax Guru 
Life insurance companies want the current system of tax exemption for insurance maturity proceeds to be continued. The proposed Direct Taxes Code has suggested deduction of tax on the final payout, while exempting the policy premium at the time of co...
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orward-loss-for-12-years-and-service-tax-exemption.html
RBI circular on Ready Forward Contracts in Corporate Debt Securities |Tax Guru : Complete Tax Solution 
A reference is invited to paragraph 111 of the Second Quarter Review of the Annual Policy Statement for 2009-10 regarding the introduction of repo in corporate bonds.2. It has been decided to introduce repo in co
-contracts-in-corporate-debt-securities.html
Carry forward of MAT credit for how many years if there is contradiction between statutory provisions and circular issued |Tax Guru : Complete Tax Solution 
There is no ambiguity in the language of sub-section (3) of section 115JAA; the carry forward is available for a total of six (1 5) years; the period of `five assessment years’, mentioned in sub-paragraph (2) of the paragrap
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ction-between-statutory-provisions-and-circular-issued.
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No word yet on commodity transaction tax » |Tax Guru 
here appears to be uncertainty over the implementation of the Commodity Transaction Tax from April 1 with broking firms saying the exchanges have not notified them on the issue till late Monday evening.
dity-transaction-tax.html
Vyaj badla dispute is not admissible in court » |Tax Guru 
Mumbai: In a setback to the once popular vyaj badla transactions, the Bombay high court recently held that an aggrieved party cannot take their disputes to the arbitration tribunal set up under the byelaws of the Bombay Stock Exchange. Dismissing a p...
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