MCA:Clarification on Para 46A of notification number G.S.R. 914(E) dated 29.12.2011 on Accounting Standard 11 relating to \"The effects of Changes in Foreign Exchange Rates.
Posted Date : 18-Aug-2012 , 08:55:29 am | Posted By: Akanksha Handa
Clarification on Para 46A of notification number G.S.R. 914(E) dated 29.12.2011 on Accounting Standard 11 relating to "The effects of Changes in Foreign Exchange Rates. CLICK HERE TO SEE CIRCULAR...
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IT/ILT : Transfer Pricing - Tolerable limit of 5% maintained for Assessment Year 2012-13
Posted Date : 18-Aug-2012 , 07:31:53 am | Posted By: CASANSAAR
SECTION 92 OF THE INCOME-TAX ACT, 1961 - TRANSFER PRICING - COMPUTATION OF ARM'S LENGTH PRICE - NOTIFIED PERCENTAGE UNDER SECOND PROVISO TO SECTION 92C(2)
NOTIFICATION NO. 31/2012 [F.NO. 500/185/2011-FTD I], DATED 17-8-2012
In exercise of the powers conferred by the second proviso to sub-section (2) of section 92C of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that where the variation between the arm's length price determined under section 92C and the pr...
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Income Tax |
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ITR Scrutiny Of Small Tax Payers And Senior Citizen Only In The Case Of Credible Information
Posted Date : 17-Aug-2012 , 08:54:33 am | Posted By: Anjali Arora
No.402/92/2006-MC (07 of 2011)
Government of India / Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
PRESS RELEASE
Streamlining procedure for scrutiny of income-tax returns
Scrutiny of income tax returns is an important mechanism for ensuring taxpayer compliance and to counter tax-evasion. However, it has evoked some concern from small taxpayers and senior citizens about prolonged enquiries. Concerns have also been raised about selection of the same cases in s...
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Income Tax |
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MCA:Applicability of Service Tax on commission payable to Non-Whole Time Directors of a company under section309(4) of the companies act,1956
Posted Date : 14-Aug-2012 , 09:10:22 am | Posted By: Akanksha Handa
Applicability of Service Tax on commission payable to Non-Whole Time Directors of a company under section309(4) of the companies act,1956. Kindly click to see circular...
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Corporate Laws |
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Amends in the Notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 12/2012- Customs, dated the 17th March, 2012
Posted Date : 13-Aug-2012 , 05:40:31 pm | Posted By: CA. SURESH Kr. AGARWAL
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
Notification No. 45 /2012-Customs
New Delhi, the 13th July, 2012
G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue...
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Custom |
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Financial Inclusion- Access to Banking Services
Posted Date : 13-Aug-2012 , 05:37:42 pm | Posted By: CA. SURESH Kr. AGARWAL
RBI/2012-13/164 DBOD.No. Leg. BC.35/09.07.005/2012-13
August 10, 2012
All Scheduled Commercial Banks (excluding RRBs)
Dear Sir,
Financial Inclusion- Access to Banking Services – Basic Savings Bank Deposit Account
Please refer to paragraphs 88 and 89 of Monetary Policy Statement for the year 2012-13 announced on April 17, 2012.
2. Banks were advised in November 2005 to make available a basic banking 'no-frills' account either with 'nil' or very low minimum balance as well...
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RBI |
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Issue of multicity / payable at all branches cheques by CBS enabled banks
Posted Date : 13-Aug-2012 , 05:37:08 pm | Posted By: CA. SURESH Kr. AGARWAL
RBI/2012-13/163 DPSS.CO.CHD.No.274/03.01.02/2012-13
August 10, 2012
The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks
Madam / Dear Sir
Issue of multicity / payable at all branches cheques by CBS enabled banks
As you are aware, various Core Banking Solutions (CBS) implemented in banks marked a paradigm shift in Customer Services. Cus...
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RBI |
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Stipulation of compensation for delay in Clearance of Local Cheques
Posted Date : 13-Aug-2012 , 05:36:24 pm | Posted By: CA. SURESH Kr. AGARWAL
RBI/2012-13/165 DPSS.CO.CHD.No.284/03.06.03/2012-13
August 13, 2012
The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks
Madam / Dear Sir
Stipulation of compensation for delay in Clearance of Local Cheques
As you may be aware, banks are required to specify the time line for realisation of local and outstation cheques in their Cheque ...
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RBI |
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MCA: Product Group Classification
Posted Date : 09-Aug-2012 , 09:16:32 am | Posted By: Akanksha Handa
Product Group Classification. Kindly click to see the notification....
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Corporate Laws |
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MCA:Amendment to the Companies (Fees on Applications) Rules, 1999
Posted Date : 09-Aug-2012 , 09:06:10 am | Posted By: Akanksha Handa
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY PART-II, SECTION-3, SUB-SECTION (i)]
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
NEW DELHI, the 7th
August, 2012
G.S.R. 617(E).- In exercise of the powers conferred by sub-section (1) of sectin 642, read with sub-section (2) of section 637A of the Companies Act, 1956 (1 of 1956), the Central Government hereby amends the notification of the Government of India in the erstwhile Ministry of Law, Just...
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SECTION 68 OF THE FINANCE ACT, 1994 - PAYMENT OF SERVICE TAX - SERVICE TAX PAYABLE ON SPECIFIED SERVICES - AMENDMENT IN NOTIFICATION NO. 30/2012-ST, DATED 20-6-2012
Posted Date : 08-Aug-2012 , 07:04:08 pm | Posted By: CASANSAAR
In exercise of the powers conferred by sub-section (2) of section 68 of the Finance Act, 1994 (32 of 1994), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue),No. 30/2012-Service Tax, dated the 20th June, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i),videnumber G.S.R. 472 (E)...
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Service Tax |
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Regarding 24x7 Customs clearance operations
Posted Date : 08-Aug-2012 , 08:21:46 am | Posted By: CASANSAAR
Circular No.22/2012 - Customs
F.No.450/25/2009-Cus.IV
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
*****
Room No. 229 A, North Block,
NewDelhi,dated 7thAugust, 2012.
To,
All Chief Commissioners of Customs / Customs (Prev).
All Chief Commissioners of Customs & Central Excise.
All Commissioners of Customs / Customs (Prev).
All Commissioners of Customs (Appeals).
All Commissioners of Customs & Central Excise.
All Commis...
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Custom |
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Company Law Settlement Scheme, (Jammu & Kashmir) 2012.
Posted Date : 08-Aug-2012 , 08:20:25 am | Posted By: CASANSAAR
It has been observed that a large number of companies are not filingtheir due statutory documents (i.e. Balance Sheets and Annual Returns)timely with the Registrar of Companies. Due to this, the records available inthe electronic registry are not updated and thereby are not available to thestakeholders for inspection. Further, due to non filing the documents ontime, companies are burdened with additional fee, facing the prosecutionsand being debarred from filing other documents electronically as...
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Corporate Laws |
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MCA:Imposing fees on certain e-forms filled with ROC,RD or MCA(HQ) under MCA-21 where at present no fee is prescribed
Posted Date : 04-Aug-2012 , 09:49:45 am | Posted By: Akanksha Handa
Imposing fees on certain e-forms filled with ROC,RD or MCA(HQ) under MCA-21 where at present no fee is prescribed.. CLICK TO SEE THE CIRCULAR...
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Corporate Laws |
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MCA: Filling of Balance Sheet and Profit and Loss Account by companies in Non-XBRL for accounting year commencing on or after 01.04.2011
Posted Date : 04-Aug-2012 , 09:47:08 am | Posted By: Akanksha Handa
MCA: Filling of Balance Sheet and Profit and Loss Account by companies in Non-XBRL for accounting year commencing on or after 01.04.2011..CLICK TO SEE THE CIRCULAR...
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Corporate Laws |
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Clarification on the scope of exemption Notification No.146/94-Customs dated 13-07-1994.
Posted Date : 03-Aug-2012 , 10:01:17 pm | Posted By: CASANSAAR
Circular No.21 /2012-Customs
F.No.528/16/2010-CUS(TU)Government of IndiaMinistry of Finance(Department of Revenue)Central Board of Excise & Customs
Tariff Unit
**************
229-A, North Block,
New Delhi-110 001.
1stAugust,,2012.
To
All Chief Commissioners of Customs / Customs (Prev.).
All Chief Commissioners of Customs & Central Excise.
All Commissioners of Customs / Customs (Prev.).
All Commissioners of Customs & Central Excise.
The Principal Chief Controller of Acco...
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Custom |
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Mca:Investor Education and protection Fund(uploading of information regarding unpaid and unclaimed amount lying with
Posted Date : 03-Aug-2012 , 09:21:50 am | Posted By: Akanksha Handa
Investor Education and protection Fund(uploading of information regarding unpaid and unclaimed amount lying with companies) Rules 2012. CLICK TO SEE CIRCULAR...
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Corporate Laws |
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Foreign Exchange Management Act - Compounding of Contraventions under FEMA
Posted Date : 01-Aug-2012 , 05:41:12 pm | Posted By: CA. SURESH Kr. AGARWAL
RBI/2012-13/153 A.P. (DIR Series) Circular No.11
July 31, 2012
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Foreign Exchange Management Act, 1999 (FEMA)- Compounding of Contraventions under FEMA, 1999
Attention of all the Authorised Dealer Category - I (AD Category - I) banks and their constituents is invited to A.P. (DIR Series) Circular no. 56 dated June 28, 2010 and the subsequent Press Release dated August 13, 2010, clarifying the position on ‘technical’ co...
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RBI |
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Interest Rates on Rupee Deposits held in Domestic, NRO and NRE Accounts
Posted Date : 01-Aug-2012 , 05:39:15 pm | Posted By: CA. SURESH Kr. AGARWAL
RBI/2012-13/148 RPCD.CO.RRB.NO.16 /03.05.33(C) /2012-13
July 31, 2012
The Chairmen All Regional Rural Banks (RRBs)
Dear Sir,
Interest Rates on Rupee Deposits held in Domestic, Ordinary Non-Resident (NRO) and Non-Resident (External) (NRE) Accounts
Please refer to paragraph 5 of the directives enclosed to the circular DBOD.Dir.BC.47/13.03.00/2000-2001 dated November 4, 2000 and mail box clarification dated May 13, 2005 in terms of which it was clarified that in the case of Non-Resi...
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RBI |
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Regarding changes in the Foreign Trade Policy 2009-14 issued on 5.6.12
Posted Date : 01-Aug-2012 , 06:19:03 am | Posted By: CASANSAAR
Circular No.20 /2012-Cus.
F.NO.605/12/2012-DBK
Government of India
Ministry of Finance
Department of Revenue
New Delhi dated the 27thJuly, 2012
To
All Chief Commissioners of Customs
All Chief Commissioners of Central Excise / Customs & Central Excise
All Director Generals under CBEC,
All Commissioners of Customs / Customs (Preventive)
All Commissioners of Central Excise /Customs & Central Excise
Madam / Sir,
Sub: Changes in the Foreign Trade Policy 2009-14 issued...
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Custom |
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MCA:Filing of Cost Audit Report and Compliance Report in the eXtensible Business Reporting Language (XBRL) mode
Posted Date : 27-Jul-2012 , 09:06:35 am | Posted By: Akanksha Handa
General Circular No. 18/2012
52/17/CAB-2011
Government of India
Cost Audit Branch
*****
‘B-1’ Wing, 2
nd
Floor,
Paryavaran Bhawan,
CGO Complex, Lodhi Road,
New Delhi – 110 003
Dated the July 26, 2012
To,
The President,
Institute of Cost Accountants of India,
12, Sudder Street,
Kolkata – 700 016
Subject: Filing of Cost Audit Report and Compliance Report in the eXtensible Business Reporting Language (XBR...
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Corporate Laws |
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The Investor Education and Protection Fund(uploading of information regarding unpaid and unclaimed amounts lying with companies) Rules 2012.
Posted Date : 26-Jul-2012 , 06:46:44 am | Posted By: CASANSAAR
The Investor Education and Protection Fund(uploading of information regarding unpaid and unclaimed amounts lying with companies) Rules 2012.
General Circular No. 17/2012
Click here for Detail...
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Corporate Laws |
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Foreign Exchange Management (Foreign Exchange Derivative Contracts) (Amendment) Regulations, 2010
Posted Date : 24-Jul-2012 , 02:16:20 pm | Posted By: CA. SURESH Kr. AGARWAL
Reserve Bank of India Foreign Exchange Department Central Office Mumbai- 400 001
Notification No. FEMA 210/RB-2010
dated July 19, 2010
Foreign Exchange Management (Foreign Exchange Derivative Contracts) (Amendment) Regulations, 2010
In exercise of the powers conferred by clause (h) of sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999, the Reserve Bank of India makes the following amendments in the Foreign Exchange Management (Foreign Exchange ...
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FEMA |
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Priority Sector Lending
Posted Date : 24-Jul-2012 , 02:15:02 pm | Posted By: CA. SURESH Kr. AGARWAL
RBI/2012-13/138 RPCD.CO.Plan.BC 13/04.09.01/2012-13
July 20, 2012
The Chairman/ Managing Director/ Chief Executive Officer [All scheduled commercial banks (excluding Regional Rural Banks)]
Dear Sir,
PRIORITY SECTOR LENDING –TARGETS AND CLASSIFICATION
As proposed in Paragraph 94 of the Monetary Policy Statement 2011-12, the Reserve Bank of India in August 2011 set up a Committee to re-examine the existing classification and suggest revised guidelines with regard to Priority...
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RBI |
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Interest Rate on Deposits held in NRO and NRE Accounts
Posted Date : 24-Jul-2012 , 02:14:02 pm | Posted By: CA. SURESH Kr. AGARWAL
RBI/2012-13/141 RPCD.CO.RCB.BC. Dir. No.15/07.38.01/2012-13
July 23, 2012
All State and Central Co-operative Banks
Dear Sir,
Interest Rate on Deposits held in Ordinary Non-Resident (NRO) and Non-Resident (External) (NRE) Accounts
Please refer to paragraph 4 of our Directive RPCD.No.RF.DIR.BC.53/D.1-87/88 dated November 2, 1987 enclosed to our circular RPCD.No.RF.DIR.BC.54/D.1-87/88 of the same date in terms of which it was clarified that in the case of savings or term deposit acc...
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RBI |
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Prudential Norms for Off-balance Sheet Exposures of Banks
Posted Date : 24-Jul-2012 , 02:13:24 pm | Posted By: CA. SURESH Kr. AGARWAL
RBI/2012-13/139 DBOD.No.BP.BC.31/21.04.157/2012-13
July 23, 2012
The Chairman and Managing Directors/ Chief Executive Officers of All Scheduled Commercial Banks (excluding RRBs and LABs) & All India Term-Lending & Refinancing Institutions
Dear Sir,
Prudential Norms for Off-balance Sheet Exposures of Banks
Please refer to our circular DBOD.No.BP.BC.57/21.04.157/2008–09 dated October 13, 2008, in terms of which, any change in any of the parameters of a derivative contract ...
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RBI |
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Interest Rates on Deposits held in FCNR (B) Accounts
Posted Date : 19-Jul-2012 , 10:06:42 am | Posted By: CA. SURESH Kr. AGARWAL
RBI/2012-13/137 DBOD.Dir.BC. 30/13.03.00/2012-13
July 18, 2012
All Scheduled Commercial Banks (Excluding RRBs)
Dear Sir/Madam,
Interest Rates on Deposits held in FCNR (B) Accounts
Please refer to paragraph 4 of the directives enclosed to our circular DBOD.Dir.BC.49/13.03.00/2000-2001 dated November 4, 2000 and mail box clarification dated May 13, 2005 in terms of which it was clarified that in the case of FCNR(B) deposits of staff members, existing or retired, interest rate includ...
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RBI |
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Exchange Earner\'s Foreign Currency Account
Posted Date : 19-Jul-2012 , 10:06:08 am | Posted By: CA. SURESH Kr. AGARWAL
RBI/2012-13/135 A. P. (DIR Series) Circular No. 8
July 18, 2012
To
All Authorised Dealer Category- I Banks
Madam/ Sir,
Exchange Earner's Foreign Currency (EEFC) Account
Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to A.P. (DIR Series) Circular No. 124 dated May 10, 2012.
2. On a review, it is advised that the provisions contained in the aforesaid Circular will not apply to the Resident Foreign Currency Accounts.
3. AD Category - I banks may...
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RBI |
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Scheme for Investment by QFIs in Indian corporate debt securities
Posted Date : 19-Jul-2012 , 10:05:28 am | Posted By: CA. SURESH Kr. AGARWAL
RBI/2012-13/134 A. P. (DIR Series) Circular No. 7
July 16, 2012
To
All Category – I- Authorised Dealer banks
Madam / Sir,
Scheme for Investment by Qualified Foreign Investors (QFIs) in Indian corporate debt securities
Attention of Authorised Dealers Category – I (AD Category - I) banks is invited to A.P. (DIR Series) Circular No.8 dated August 9, 2011, A.P. (DIR Series) Circular No. 42 dated November 3, 2011, A.P. (DIR Series) Circular No. 66 dated January 13, 2012 and A....
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RBI |
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Amendment to the Equity Listing Agreement - Platform for E-Voting by Shareholders of Listed Entities
Posted Date : 17-Jul-2012 , 02:38:38 pm | Posted By: CA. SURESH Kr. AGARWAL
CIR/CFD/DIL/6/2012 July 13, 2012
To All Recognised Stock Exchanges Dear Sir/Madam,
Sub: Amendment to the Equity Listing Agreement - Platform for E-Voting by Shareholders of Listed Entities
1. Section 192A of the Companies Act, 1956, read with the Companies (Passing of the Resolution by Postal Ballot) Rules, 2001 (the Rules) obligates the listed companies to conduct certain businesses only by way of postal ballot. The Companies Act and the Rules also permit the companies to pass any other busi...
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SEBI |
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