New online tracking system to track your IP without your permission
A new online tracking system will allow websites to pinpoint your location to within a few hundred metres, without your permission. Internet sites will be able to work out where users are within an average of 690 metres, using information about their internet connection. At the moment they can only track users' locations to within a… Read More
RBI – Auction of Government of India Dated Securities
Government of India Offered for sell of Dated Securities Ref.No.IDMD / 4860 /08.02.033/2010-11 May 9, 2011 All Scheduled Commercial Banks / All State Co-operative Banks/All Scheduled Primary (Urban) Co-operative Banks /All Financial Institutions/ All Primary Dealers Dear Sirs, Auction of Government of India Dated Securities Government of India have offered to sell (re-issue) of (a)… Read More
Amendments in the Companies Regulations, 1956
GOI, Ministry of Corporate Affairs; Notification dated 9th May, 2011 G.S.R (E):- In exercise of the powers conferred by sub sections (1), (2), (5) and (8 ) of section 25 of the Companies Act, 1956 ( 1 of 1956), the Central Government herby makes the following regulations further to amend the Companies Regulations, 1956, namely:-… Read More
ICAI notifies Information Systems Audit (ISA) Course Assessment Test
No.13-CA(EXAM)/ISA/J/2011: - In pursuance of Rule 7 of Schedule ˜F™ to Regulation 204 of theChartered Accountants Regulations, 1988 (as amended vide Notification No. 1 -CA(7)/59/2001dated 28th September 2001), the Council of the Institute of Chartered Accountants of India ispleased to notify that the Information Systems Audit (ISA) Course Assessment Test will be heldon 18th June… Read More
RBI announces Marginal Standing Facility (MSF) Scheme w.e.f. 9th May
RBI- Marginal Standing Facility Scheme w.e.f. 9/05/2011 RBI/2010-11/515 FMD. No.59/01.18.001/2010-11 May 9, 2011 All Scheduled Commercial Banks Dear Sir, Marginal Standing Facility Scheme As announced in the Monetary Policy for the year 2011-12, a new Marginal Standing Facility (MSF) is being introduced with effect from May 9, 2011. The Scheme will be operationalized on the lines… Read More
Maintenance of Statutory Liquidity Ratio (SLR)
CLR Note:- Some assets and securities were announced for the purpose of valuation of Statutory Liquidity Ration(SLR). However, The securities (including margin) shall not be treated as an eligible asset ,if acquired under the Reserve Bank- Liquidity Adjustment Facility (LAF). RBI/2010-11/516 Ref. DBOD No. Ret. BC. 92 /12.02.001/2010-11 May 09, 2011 All Scheduled Commercial Banks (Excluding… Read More
Transfer Pricing: Loss-making & Super-Profit companies are not comparable
Sapient Corporation Pvt Ltd vs. DCIT (ITAT Delhi) Brief History of the Case:- The assessee is a subsidiary company of M/s Sapient Corporation, USA and was set up under the Software Technology Park Scheme of the Government of India. The assessee renders customized software development services to associated enterprises and also renders post sales support services. The assessee in the… Read More
6th Annual Summit on Capital Markets by ASSOCHAM
The 6th Annual Summit on Capital Markets is being organised on the 26th May, 2011 in New Delhi wherein the guest of honour will be Shri R. Gopalan, Secretary, Department of Economic Affairs, Ministry of Finance, GOI and Dr. Thomas Mathew, Joint Secretary (CM) Department of Economic Affairs, Ministry of Finance, GOI. The discussion would be focused on… Read More
RBI revises the Housing Loan limit under Priority sector
CLR Note: The Reserve Bank of India passed a notification on Monday, 9th May, 2011, with regard to the increase in the limit for the housing loan under the priority sector from a limit of Rs.20 lakh to Rs. 25 lakh, irrespective of the location, to individuals for purchase/construction of a dwelling unit per family,excluding… Read More
Draft National Voluntary Guidelines on Social, Environmental and Economic Responsibilities
The Draft National Voluntary Guidelines on Social, Environmental and Economic Responsibilities issued by the Indian Institute of Corporate Affairs (IICA) are a refinement over the Corporate Social Responsibility Voluntary Guidelines 2009, released by the Ministry of Corporate Affairs in December 2009. The Guidelines are designed to be used by all businesses irrespective of size, sector or location laying down the… Read More
Now Download CS Admit Cards and Mark sheets online – Physical discontinued
ICSI goes Hi-tech and announces discontinuance of receipt of Admit Cards and Mark sheets via post. Students appearing for the JUNE, 2011 CS Examinations will not be receiving their admit cards via post rather it will be receivable on the site once uploaded by the Institute, thus the students are advised to download the Admit Card on or… Read More
Deemed Export Benefit Scheme Tightened
After detecting several cases of misuse of incentives, the Commerce Ministry has tightened the norms governing the Deemed Export benefit scheme, a move expected to save about Rs 1,800 crore to the exchequer annually. It has been decided that the deemed exports would not be available if the bill of entry is in the name… Read More
Restrictions on Mutual Funds to pay Commissions to Distributors to continue
New Sebi chief UK Sinha said he does not intend to reverse rules put in place by his predecessor, by CB Bhave, that restricted the ability of mutual funds to pay commissions to distributors. Indian fund houses, which manage equity and debt schemes with a corpus of over Rs 7,000,00 crore, were hopingfor change in policies… Read More
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