ED Books Swami Ramdev Trusts For FEMA Violation
the Enforcement Directorate in a occurrence of alleged foreign exchange violation, official sources said today. ... Ramdev ED foreign exchange india tv ...
Indian rupee rises on suspected intervention
MUMBAI — India's rupee firmed from a 28-month-low against the dollar on Friday amid reports the central bank intervened in the foreign exchange market to prop up the ailing currency, traders said.
The central bank was believed to have stepped in to the market after the Indian currency hit 49.9 rupees to the dollar, a level last seen in May 2009, as investors sought a safe haven in the US unit.
The central bank intervention was believed to "have helped the rupee recover" from its low, a dealer at a Mumbai-based trading house said, speaking on condition of anonymity.
A spokesman for the Reserve Bank of India (RBI) told AFP that the bank, as a policy, does not comment on rupee movements.
The Indian unit strengthened to 49.09 rupees after the reported intervention but then lost ground again and was trading late Friday at 49.47 rupees to the dollar.
The rupee's fall is fuelling India's inflationary woes, making imported goods such as foreign crude oil, on which the country relies, more costly.
India's annual inflation is running at near double-digits and is the highest among major global economies.
Income earned by CA from audits will not be entitled to relief u/s ...
16. In construing the word choice of a Divide up avowed perseverance for which the sample has been introduced has also to be considered. While introducing the Segment, the avail of the same has been clarified by the CBDT in para 48 vide Their Periphrastic No- 22 dated 17.07.1969. which is reproduced below:-.
“48. The Subvene Act, 1969 has inserted a new Cross-section 80RR in the Gains-tax Act with signification from Ist April, 1979 under which a householder own being an originator, dramaturge, artist, musician or actor who derives revenues in the try of his m from foreign sources and receives such return in India or brings it into India in foreign exchange, will be entitled to take from 25% of the Profits so received or brought in computing his compute revenues. This arrangement is designed to inspirit famed authors, playwrights artists, musicians and actors in our native land to obligation their activities facing India with a way of thinking to contributing to greater knowledge of our state and its suavity far and also augmenting ovr foreign exchange resources. Some of the able activities coming within the sphere of this Allocate are; broadside fa India of a order produced by the framer, contribution of articles to foreign journals and magazines, fair of paintings., sculptures and other works of art in foreign countries, giving of music concent to foreign audiences and acting in considerable performances cinematograph films and boob tube programmes in foreign countries.
17. It is very pure that split has been introduced to cheer up the well-fixed inventor, dramaturge, artists to contract their activities case India with a approach to contributing to greater skilfulness of cur Power and our customs widely. Some of the authoritative activities are coming within the span of this branch are; broadside surface India of a tome produced by the framer, contribution of articles to foreign journals alia magazines, exhibit of paintings, sculptures and other works. I: is therefore fine that the utility of introducing Group 80RR is in value of gains derived from gymnastics of the work to which the Segment applies viz., inventor, playwrights, artists etc., Section cannot be interpreted to unkind that in heed of litt who has derived takings by exercising of calling which has no bond whatsoever with his authorship would be entitled to inference under Division 80RR The measure out has been introduced to showcase the well-to-do professionals in -lie listed fields. The revenues of the authors from extensively from irritate of his occupation of a authorship will be entitled to release.
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