Government Reviews Foreign investment Policy for Assets Reconstruction Sector
Posted Date : 22-Dec-2012 , 03:30:10 pm | Posted By: Vinay Sharma
Government Reviews Foreign investment Policy for Assets Reconstruction Sector; Ceiling for FDI in ARCs increased from 49% to 74% The Central Government had permitted Foreign Direct Investment (FDI) in the equity capital of Asset Reconstruction Company (ARCs) upto 49% vide Press Release dated 08.11.2005. Further, on 09.11.2005, the Government permitted the Foreign Institutional Investors (FIIs) registered with the Securities and Exchange Board of India (SEBI) to invest in Security Receip...
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EPFO puts on hold implementation of its circular on PF
Posted Date : 22-Dec-2012 , 01:31:48 pm | Posted By: Vinay Sharma
EPFO has kept in abeyance, its circular that seeks to tighten norms for initiation of inquiry against employers in PF cases and clubbing of allowances with basic wages for computing PF contribution Amid pressure from trade unions, Employees' Provident Fund Organisation (EPFO) has kept in abeyance, its circular that seeks to tighten norms for initiation of inquiry against employers in provident fund (PF) cases and clubbing of allowances with basic wages for computing PF contribution, report...
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Filing of Form 68 for rectification of mistakes in Form 1,Form 1A and Form 44
Posted Date : 21-Dec-2012 , 08:55:27 pm | Posted By: CASANSAAR
General Circular No. 42/2012 DATED 21.12.2012.Filing of Form 68 for rectification of mistakes in Form 1,Form 1A and Form 44
CLICK HERE FOR CIRCULAR...
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Standardisation and Enhancement of Security Features in Cheque Forms - Migrating to CTS 2010 Standards
Posted Date : 21-Dec-2012 , 08:49:37 pm | Posted By: CASANSAAR
RBI/2012-13/345DNBS.PD/ CC.NO.316/03.10.001/2012-13
December 20, 2012
All NBFCs
Dear Sir/Madam,
Standardisation and Enhancement of Security Features in Cheque Forms - Migrating to CTS 2010 Standards
A reference is invited to ourCircular No DNBS.PD/ CC.NO.308 /03.10.001/2012-13 November 6, 2012advising all NBFCs to ensure replacement of all Non-CTS-2010 standard compliant cheques received from their customers for future EMI payments by December 31, 2012.
2. Representations have been receive...
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Clarification regarding payment of tax on monthly basis by Quarterly Dealers whose tax liability exceeds one lakh rupees.
Posted Date : 21-Dec-2012 , 03:57:25 pm | Posted By: Vinay Sharma
GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHIDEPARTMENT OF TRADE AND TAXES (Policy Branch)VYAPAR BHAWAN, I.P. ESTATE, NEW DELHI-110 002No. F.3(11)/P-II/VAT/MISC/2012/ Pt. File / 983-989 Date: 14-12-2012CIRCULAR No 26 OF 2012-13
Sub: Clarification regarding payment of tax on monthly basis by QuarterlyDealers whose tax liability exceeds one lakh rupees.
Dealers having ‘Quarter’ as tax period and having net tax liability exceedingRupees One lakh during the last financial year or c...
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mca:Filing of Balance Sheet and Profit and Loss Account in eXtensible Business Reporting Language (XBRL) mode for the financial year commencing on or after 01.04.2011-Corrigendum to General Circular No:39/2012.
Posted Date : 21-Dec-2012 , 09:02:29 am | Posted By: Akanksha Handa
Filing of Balance Sheet and Profit and Loss Account in eXtensible Business Reporting Language (XBRL) mode for the financial year commencing on or after 01.04.2011-Corrigendum to General Circular No:39/2012.Click to see circular...
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SEBI : Norms for ‘Base Minimum Capital’ revised to align it with the risk profile of stock brokers and members
Posted Date : 20-Dec-2012 , 01:10:29 pm | Posted By: Vinay Sharma
Requirement of Base Minimum Capital for Stock Broker and Trading Member
CIRCULAR No. MRD/DRMNP/36/2012, dated 19-12-2012
1. SEBI vide circular No. SMD/SED/RCG/270/96, dated January 19, 1996, and circular No. MRD/DoP/SE/Cir-07/2005 dated February 23, 2005 had prescribed the requirement of Base Minimum Capital (BMC) for stock brokers trading on stock exchange. BMC is the deposit given by the member of the exchange against which no exposure for trades is allowed.
2. The BMC deposit requirem...
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Corrigendum to General Circular No: 39/2012 related to XBRL Filing Due Date
Posted Date : 19-Dec-2012 , 10:55:24 am | Posted By: Vinay Sharma
General Circular No: 41/2012, Dated 18.12.2012
Sub: Filing of Balance Sheet and Profit and Loss Account in eXtensible Business Reporting Language (XBRL) mode for the financial year commencing on or after 01.04.2011- Corrigendum to General Circular No: 39/2012.
In continuation to General Circular No: 39/2012 dated 12.12.2012 of this Ministry on the Subject cited above, the following words in Para-1 “or within 30 days from the date of AGM of the company” should be read as &ldqu...
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DVAT – Set top boxes provided by cable operator on lease liable to VAT
Posted Date : 19-Dec-2012 , 10:46:31 am | Posted By: Vinay Sharma
GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI
DEPARTMENT OF TRADE AND TAXES (Policy Branch)
VYAPAR BHAWAN, I.P. ESTATE, NEW DELHI-110 002
No.F.7(496)/Policy/VAT/2012/976-982
Date:14-12-2012
CIRCULAR No 25 OF 2012-13
The Govt. of India has recently taken initiative of digitizing the Indian Television Industry in the next three years. As a result set top boxes were expected to be placed/installed by various cable operators in Delhi region by 31.10.2012, the deadline imposed by the Mi...
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Indo–Myanmar Border Trade – Amendment & Addition in Existing list of tradable items
Posted Date : 15-Dec-2012 , 10:25:45 pm | Posted By: Vinay Sharma
PUBLIC NOTICE NO. 30 (RE-2012)/2009-2014
NEW DELHI, DATED THE 16th NOVEMBER, 2012
Subject: Indo–Myanmar Border Trade.
In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy, 2009-14 and in supersession of Public Notice No. 289(PN)/92-97 dated 10th April, 1995 and Public Notice No. 106(RE-2008)/2004-2009 dated 7th November, 2008, the Director General of Foreign Trade hereby makes the following arrangements with a view to promote Indo-Myanmar Border Trade:
2. ...
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DGFT |
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DGFT – Bank Guarantee to be executed by surety Bank (Guarantor)
Posted Date : 15-Dec-2012 , 10:25:20 pm | Posted By: Vinay Sharma
PUBLIC NOTICE No.29 (RE-2012)/2009-14, NEW DELHI the12th November, 2012
Sub:- Amendment in Appendix 25B HBP Vol. I (Appendices and Aayat Niryat Forms) regarding of Bank Guarantee (BG)/ Legal Agreement (LUT).
In exercise of powers conferred under Para 2.4 of the Foreign Trade Policy, 2004-09, the Director General of Foreign Trade hereby makes the following amendments in Note for Guidance attached to the Appendix 25B of Handbook of Procedures (Vol.1) (Appendices and Aayat Niryat Forms) ...
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DGFT |
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Amendment in Para 8.3.1(i) of the Handbook of Procedures Vol.I, 2009-14 – claim of TED by recipient of goods
Posted Date : 15-Dec-2012 , 10:24:46 pm | Posted By: Vinay Sharma
PUBLIC NOTICE No. 31 (RE 2012)/ 2009-14, Dated: the 21st November, 2012
Subject: Amendment in Para 8.3.1(i) of the Handbook of Procedures Vol.I, 2009-14 – claim of TED by recipient of goods.
In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy, 2009-14, the Director General of foreign Trade hereby amends Para 8.3.1(i) of the Handbook of Procedures, Vol.I, 2009-14 by adding the sentence at the end of the Para, “Recipient may also claim TED refund on ...
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DGFT |
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Procedure and conditions for registration of contracts for export of cotton
Posted Date : 15-Dec-2012 , 10:24:15 pm | Posted By: Vinay Sharma
Notification No. 26 (RE-2012)/2009-14
New Delhi, Dated 30th November, 2012
Subject:- Procedure and conditions for registration of contracts for export of cotton (Tariff Codes 5201 and 5203)- amendment thereof.
S.O. (E) In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with Para 2.1 of the Foreign Trade Policy, 2009-14, the Central Government hereby amends the procedure and conditions for registration of ...
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CLB Chairman can now transfer matter pending before a Regional Bench to other Regional Bench
Posted Date : 15-Dec-2012 , 10:21:22 pm | Posted By: Vinay Sharma
Company law board regulations, 1991 – Order under section 10(e)(6)(4b) of companies act, 1956 for amendment in regulation 4 of said regulations
ORDER [FILE NO. 10/36/2001-CLB], DATED 7-12-2012
In exercise of the powers conferred by sub-section (4B) and sub-section (6) of section 10(E) of the Companies Act, 1956 (1 of 1956) read with Regulation 4 of the Company Law Board Regulations, 1991, the Chairman, Company Law Board, hereby, makes the following Regulations further to amend the ...
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Core Investment Companies – Overseas Investment (Reserve Bank) Directions, 2012
Posted Date : 15-Dec-2012 , 10:05:02 pm | Posted By: Vinay Sharma
RBI/2012-13/314 DNBS (PD) CC.No.311/03.10.001/2012-13
December 06 , 2012
All Core Investment Companies
Dear Sirs,
Core Investment Companies – Overseas Investment (Reserve Bank) Directions, 2012
Please refer to the Non-Banking Financial Companies (Opening of Branch/Subsidiary/Joint Venture/Representative Office or Undertaking Investment Abroad by NBFCs) Directions, 2011 dated June 14, 2011. The Directions have specified general and specific conditions for overseas investment by NBF...
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RBI |
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Who is Willful Defaulters?
Posted Date : 15-Dec-2012 , 10:04:27 pm | Posted By: Vinay Sharma
Willful Defaulters
Reserve Bank of India (RBI) collects on quarterly basis, the information on Willful Defaulters (non-suit filed accounts) of Rs. 25 lakh and above from Banks. Besides RBI, the Credit Information Companies, including Credit Information Bureau of India Ltd. (CIBIL) are maintaining a database on suit filed accounts, including willful defaulters with Rs. 25 lakhs and above. The details of such accounts as on 31st March 2012 in Public Sector Banks are as under:
(Amount in...
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Liaison Office (LO) / Branch Office (BO) in India by Foreign Entities – Reporting to Income Tax Authorities
Posted Date : 15-Dec-2012 , 10:03:47 pm | Posted By: Vinay Sharma
Liaison Office (LO) / Branch Office (BO) in India by Foreign Entities – Reporting to Income Tax Authorities
Vide A. P. (DIR Series) Circular No.24 dated December 30, 2009, RBI had mandated that Branch Offices (BO) / Liaison Offices (LO) are required to submit Annual Activity Certificate (AAC) from their Auditors to the Central Office / Regional Office of the Reserve Bank, certifying that the BO / LO has carried out only those activities which are approved by the Reserve Bank. With e...
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Issuance of rupee denominated co-branded pre-paid cards
Posted Date : 15-Dec-2012 , 10:03:09 pm | Posted By: Vinay Sharma
RBI/2012-13/325 DBOD.No.FSD.BC. 67/24.01.019/2012-13
December 12, 2012
All Scheduled Commercial Banks (excluding RRBs)
Dear Sir/ Madam,
Issuance of rupee denominated co-branded pre-paid cards
Please refer to paragraphs 106 and 107 (extract enclosed) of the Second Quarter Review of Monetary Policy 2012-13 announced on October 30, 2012, proposing to accord general permission to banks for issue of co-branded debit and rupee denominated pre-paid instruments, subject to certain conditions, i...
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Guidelines for issue of debit cards by banks
Posted Date : 15-Dec-2012 , 10:01:44 pm | Posted By: Vinay Sharma
RBI/2012-13/324 DBOD.No.FSD.BC.66/24.01.019/2012-13
December 12, 2012
All Scheduled Commercial Banks (excluding RRBs)
Dear Sir/ Madam,
Guidelines for issue of debit cards by banks
Please refer to paragraphs 106 and 107 (extract enclosed) of the Second Quarter Review of Monetary Policy 2012-13 announced on October 30, 2012, proposing to accord general permission to banks for issue of co-branded debit and rupee denominated pre-paid instruments, subject to certain conditions, in order to o...
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RBI |
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Non-CTS 2010 Standard cheques withdrawal time limit extended to to March 31, 2013
Posted Date : 15-Dec-2012 , 10:00:43 pm | Posted By: Vinay Sharma
RBI/2012-13/335 DPSS.CO.CHD.No.955/04.07.05/2012-13
December 14, 2012
Standardisation and Enhancement of Security Features in Cheque Forms-Migrating to CTS 2010 standards
A reference is invited to our circular DPSS.CO.CHD.No. 399/04.07.05/2012-13 dated September 3, 2012 advising all banks to arrange to issue only multi-city/payable at par CTS-2010 standard cheques not later than September 30, 2012 and to withdraw the non-CTS-2010 Standard cheques in circulation before December 31, 2012 by...
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Nomination facility available for joint deposit accounts also
Posted Date : 15-Dec-2012 , 10:00:09 pm | Posted By: Vinay Sharma
RBI/2012-13/333 RPCD.RRB.BC.No. 51/ 03.05.33/2012-13
December 12, 2012
All Regional Rural Banks
Dear Sir
The Banking Companies (Nomination) Rules, 1985 – Clarifications
1. Witness in nomination forms
As you are aware, the Banking Companies (Nomination) Rules, 1985 have been framed in exercise of powers conferred by Section 52 read with Sections 45ZA, 45ZC and 45ZE of the Banking Regulation Act, 1949. The nomination forms (DA1, DA2 and DA3) have also been prescribed in the Nominat...
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Bank should not levy penalty on conversion of one Term deposit in other
Posted Date : 15-Dec-2012 , 09:59:33 pm | Posted By: Vinay Sharma
RBI /2012-13/334 RPCD.RRB.BC.No.52/03.05.33/2012-13
December 14, 2012
All Regional Rural Banks
Dear Sir/Madam
Conversion of Term Deposits, Daily Deposits or Recurring Deposits for Reinvestment in Term Deposits by Regional Rural Banks
As per extant instructions on Interest Rates on Deposits, RRBs on request from the depositor, should allow closure of a term deposit, a deposit in the form of daily deposit or recurring deposit, to enable the depositor to immediately reinvest the amount lyi...
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RBI |
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Stock Exchanges to implement measures to prevent aberrant orders or uncontrolled trades
Posted Date : 15-Dec-2012 , 09:55:05 pm | Posted By: Vinay Sharma
Pre-trade Risk Controls
CIRCULAR no. MRD/DP/34/2012, dated 13-12-2012
1. SEBI has issued various circulars from time to time to implement risk management in cash market and equity derivatives segments. Stock exchanges have operationalised these measures by putting in place checks to be carried out at their end and by the stock brokers.
2. The recent incidents of erroneous orders have brought to fore certain areas that require additional risk control measures to mitigate disruption of tr...
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SEBI |
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SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) (Amendment) Regulations, 2012
Posted Date : 15-Dec-2012 , 09:54:22 pm | Posted By: Vinay Sharma
SEBI (PROHIBITION OF FRAUDULENT AND UNFAIR TRADE PRACTICES RELATING TO SECURITIES MARKET) (AMENDMENT) REGULATIONS, 2012 – Amendment in regulation 4
Notification No. LAD-NRO/GN/2012-13/25/5455, dated 11-12-2012
In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following Regulations to further amend the Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Pra...
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SEBI |
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SEBI’s instructions for effective implementation of Stock Exchanges and Clearing Corporations Regulations
Posted Date : 15-Dec-2012 , 09:53:42 pm | Posted By: Vinay Sharma
Procedural norms on Recognitions, Ownership and Governance for Stock Exchanges and Clearing Corporations
CIRCULAR NO. MRD/DSA/33/2012, DATED 13-12-2012
The Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2012 (henceforth referred to as ‘SECC Regulations’) were notified on June 20, 2012. In terms of the powers under regulation 51 of the SECC Regulations, the Board hereby issues the following instructions for the effective implementati...
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SEBI |
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Guidelines for Issuance of statutory forms in advance.
Posted Date : 14-Dec-2012 , 08:55:43 pm | Posted By: CASANSAAR
GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI
DEPARTMENT OF TRADE AND TAXES (POLICY BRANCH)
VYAPAR BHAWAN, I.P. ESTATE, NEW DELHI-110002
No.F.3/310/Policy/VAT/2012/964-970 Dated: 12-12-2012
CIRCULAR NO 24 OF 2012-13
Sub:- Issuance of statutory forms in advance.
The matter regarding advance issue of ‘C’ Forms has been examinedand it has been decided to discourage advance issue of forms except inexceptional circumstances. Also, it should be ensured that the i...
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VAT |
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E-FILING OF QUARTERLY RETURNS FOR THE THIRD QUARTER (Q3)
Posted Date : 14-Dec-2012 , 08:46:53 pm | Posted By: CASANSAAR
GOVT OF PUNJAB
EXCISE & TAXATION DEPARTMENT
PUBLIC NOTICE
ATTENTION: DEALERS/ ADVOCATES/ CHARTERED ACCOUNTANTS
E-FILING OF QUARTERLY RETURNS FOR THE THIRD QUARTER (Q3)
The quarterly returns for the third quarter (Q3) for the financial year 2012-13 is due on 1st January 2013. It is hereby informed that the Excise and Taxation Department is planning a new web portal and a new format to file quarterly returns. Therefore, dealers/ advocates / chartered ac...
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mca:Filing of Balance Sheet and Profit and Loss Account in extensible Business Reporting Language (XBRL) mode for the financial year commencing on or after 01.04.2011
Posted Date : 13-Dec-2012 , 09:02:32 am | Posted By: Akanksha Handa
Filing of Balance Sheet and Profit and Loss Account in extensible Business Reporting Language (XBRL) mode for the financial year commencing on or after 01.04.2011.click to see circular...
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Corporate Laws |
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Exchnage Rates
Posted Date : 08-Dec-2012 , 11:12:23 am | Posted By: ASP
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, PART-II, SECTION 3, SUB-SECTION (ii), EXTRAORDINARY]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF EXCISE AND CUSTOMS
NOTIFICATION
NO.108/2012-CUSTOMS (N.T.)
DATED THE 6thDecember, 2012
15Agrahayana, 1934(SAKA)
S.O. (E). – In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of ...
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Custom |
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Restoration of service specific accounting codes for payment of service tax - regarding.
Posted Date : 08-Dec-2012 , 10:39:25 am | Posted By: ASP
Circular No.165/16/2012 -ST
F.No.341/21/2012-TRU
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
Tax Research Unit
146-F, North Block,
New Delhi, 20thNovember, 2012
To
Chief Commissioners of Central Excise and Customs (All), Director General (Service Tax), Director General(Systems), Director General (Central Excise Intelligence), Director General (Audit),Commissioners of Service Tax (All), Commissioners of Central Excise (All), Comm...
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Service Tax |
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