Taniya Associate eMinds Legal Consulting
eMinds Legal Consulting Pvt. Ltd. is a Consulting Firm in India specialzing in Corporate Laws, Compliances, Secretarial, FEMA, Indirect Taxation, Cyber Laws & Contracts. The Firm comprises of a team of professionals of Company Secretaries, Lawyers and Chartered Accountants with an in-depth subject matter knowledge and participative industry experience of over 12 years.
Introduction of electronic Bank Realization Certificate (e-BRC) system
Government of India; Ministry of Commerce and Industry Department of Commerce; Directorate General of Foreign Trade Policy Circular No. 01 (RE- 2012) /2009-14 Dated 18th June , 2012 Subject: Introduction of electronic Bank Realization Certificate (e-BRC) system. Through Public Notice No. 02 dated 5.6.2012 electronic issuance of BRCs have been initiated which obviates submission of physical… Read More
FM- Fitch ratings based on earlier data, recent development not considered
Following is the text of the statement made by the Union Finance Minister, Shri Pranab Mukherjee after Fitch Ratings issued a press release on India™s sovereign credit rating: Today, Fitch Ratings have issued a press release on India™s sovereign credit rating. Fitch has reaffirmed India™s long-term Foreign and Local Currency Issuer Default Rating (IDR) at… Read More
Income-tax Act, 1961 – Exemptions – News agency
Section 10(22B) of the Income-tax Act, 1961 - Exemptions - News agency - Notified news agency Notification No. 23/2012 [F.No. 165/02/2010-ITA.I], dated 15-6-2012 In exercise of the powers conferred by the clause (22B) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the "The Press Trust of India… Read More
Income-tax Act, 1961 -Exemptions -Foreign Oil Company Selling Crude Oil in India
Section 10(48) of the Income-tax Act, 1961 - Exemptions -Foreign Oil Company Selling Crude Oil in India - Notified Foreign Oil Company Notification No. 22/2012 [F.No. 142/14/2012-SO (TPl)], dated 14-6-2012 In exercise of the powers conferred by clause (48) of section 10 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the… Read More
Central Govt. notifies that no deduction of tax shall be made for specified payments u/s 194J
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION 3, SUB-SECTION (II)] GOVERNMENT OF INDIA; MINISTRY OF FINANCE; (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 21/2012 [F.No.142/10/2012-SO (TPL)] S.O. 1323(E), DATED 13-6-2012 In exercise of the powers conferred by sub-section(1F) of section 197A of the Income-tax Act, 1961 (43 of… Read More
Supplementary Memorandum explaining the Official Amendments moved in the Finance Bill, 2012 as reflected in the Finance Act, 2012
Circular no. 3/2012, dated 12-6-2012 FINANCE ACT, 2012 - PROVISIONS RELATING TO DIRECT TAXES The Finance Bill, 2012 was introduced in Parliament on 16-3-2012. Certain official amendments have been carried out during the passage of the Bill in Parliament. A gist of the official amendments to the Finance Bill, 2012 as reflected in the Finance… Read More
Redressal of complaints against SEs & Depositories through SEBI Complaints Redress System
CIRCULAR CIR/MRD/ICC/16/2012 June 15, 2012 All Depositories; All recognized Stock Exchanges Sub: Redressal of complaints against Stock Exchanges (SEs) and Depositories through SEBI Complaints Redress System (SCORES). 1. As you are aware, SEBI has commenced processing of complaints through SCORES. 2. The complaints received by SEBI against SEs and Depositories shall be electronically sent through… Read More
Home Loans-Levy of fore-closure charges/ pre-payment penalty
RBI/2011-12/602 RPCD CO. RCBD. BC. No. 84 /03.03.01/2011-12 June 15, 2012 The Chairmen/Chief Executives of All State and Central Co-operative Banks Dear Sir Home Loans-Levy of fore-closure charges/ pre-payment penalty Please refer to our circular RPCD.CO.RCBD.BC.No. 48 /03.03.01/2010-11 dated January 20, 2011 on housing finance. 2. In this context, attention is invited to paragraphs 81… Read More
India- Brazil to strengthen cooperation in making drugs & medicines
Shri Anand Sharma, the Union Minister for Commerce, Industry and Textiles, led a delegation of officials, CEOs, FICCI (Federation of Indian Chambers of Commerce and Industry) leaders and pharmaceutical companies, in Sao Paulo from 13-14 June 2012. Shri Sharma participated in the pharmaceutical Round Table which covered a wide gamut of issues. Minister Sharma invited… Read More
ICAI- Commencement of Certificate Course on Forex and Treasury
Certificate Course on Forex and Treasury Management at Mumbai Centre starts on 07th July, 2012 and the venue is Hotel Mirador, New Link Road, Chakala, Andheri (East), Mumbai. Class Schedule & Timings Date Day 07th July,2012 Saturday (10 am. - 5 pm.) 08st July,2012 Sunday (10 am - 5 pm.) 21st July,2012 Saturday (10 am - 5… Read More
CCI penalizes CDAG in violation of the provisions of the Competition Act, 2002
The Competition Commission of India (CCI) has found Chemist & Druggist Association, Goa (CDAG) in violation of the provisions of the Competition Act, 2002 which deals with anticompetitive agreements. The Commission has imposed penalty of Rs. 2 Lakhs @10% on the average of the receipts for financial year 2008-09, & 2009-10 on CDAG. CCI has… Read More
DGFT- Amendment of SION E-125 under Food Product Group
(To be published in the Gazette of India Extraordinary Part-I, Section-1) Government of India; Ministry of Commerce & Industry; Department of Commerce; Directorate General of Foreign Trade Public Notice No. 05 (RE:2012)/2009-2014 NEW DELHI DATED 14.06.2012 Subject: Amendment of SION E-125 under Food Product Group. In exercise of the powers conferred under Paragraph 2.4 of… Read More
Gross Direct Tax collections during April-May of the F.Y. 2012-13 up by 3.62%
Gross Direct Tax collections during April-May of the F.Y. 2012-13 was up by 3.62 percent at Rs. 52,232 Crore as against Rs. 50,407 Crore in the same period in F.Y.2011-12. While Gross Collection of Corporate Taxes showed a decline of (-) 2.82 percent during April-May of the F.Y. 2012-13 and stood at Rs. 24,329 Crore… Read More