Fiscal Year | Corporate Law Reporter

SEBI releases Paper seeking public comments on proposals for allowing certain class of companies to file shelf prospectus for public issuance of non-convertible debt securities

Proposals for allowing certain class of companies to file shelf prospectus for public issuance of non-convertible debt securities - Paper seeking public comments Every issuer is required to file a Prospectus with Registrar of Companies before making a public issue. To enable frequent issuers to raise money, without undergoing the procedure for filing Prospectus for every issuance, the… Read More

Tags: Companies Act, Fiscal year, Registrar of Companies, SEBI, Securities & Exchange Board of India, Security (finance), Shelf registration, The Companies Act 1956

Timely Issue of TDS Certificate to Customers

RBI/2013-14/361 DBOD.No.Leg.BC.65/09.07.005/2013-14 November 6, 2013 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Timely Issue of TDS Certificate to Customers It has been brought to our notice that, some banks are not providing TDS Certificate in Form 16A to their customers in time, causing inconvenience to customers in filing income-tax returns timely. 2. The matter… Read More

Tags: Banks, Fiscal year, Income tax, New Delhi, Rajesh Verma, Tax, Tax Deducted at Source, TDS Certificate

Unsecured Exposure Norms for UCBs

RBI/2013-14/321 UBD CO BPD (PCB) Cir. No.29/13.05.000/2013-14 October 10, 2013 The Chief Executive Officers All Primary (Urban) Co-operative Banks Dear Sir / Madam, Unsecured Exposure Norms for UCBs Please refer to our circular UBD BPD (PCB) Cir. No.45/13.05.000/2012-13 dated April 03, 2013 on the captioned subject exempting UCBs fulfilling certain conditions from the extant ceiling of 10%… Read More

Tags: Balance sheet, Diodeâ€“transistor logic, Fiscal year, General manager, Printed circuit board, Reserve Bank of India, Urban, Urban area

CAPEX Investment Plans of Central Public Sector Enterprises (CPSEs) Performance for Q1 FY 13-14

The Prime Minister™s Office has been monitoring the CAPEX and investment plans of selected Central Public Sector Enterprises (CPSEs) since FY 12-13. The purpose of this exercise was to enhance investment in the economy and use CPSEs to drive economic growth. The CAPEX target set for FY 2013-14 is Rs. 141,912 crores. This covers 23… Read More

Tags: BHEL, CAPEX, Capital expenditure, Central Public Sector Enterprise, Fiscal year, Government, India, Rashtriya Ispat Nigam

RBI circular w.r.t. Increase in HTM limits for Standalone PDs

RBI/2013-14/243 IDMD.PDRD.No. 828/03.64.00/2013-14 September 10, 2013 To All Standalone Primary Dealers Dear Sir/Madam, Increase in HTM limits for Standalone PDs A reference is invited to para 5.7 of our Master Circular IDMD.PDRD.01/03.64.00/2013-14 dated July 01, 2013 on Operational Guidelines to Primary Dealers regarding quantum of securities that can be classified as HTM. 2. On the basis of… Read More

Tags: Anno Domini, Fiscal year, HTM Personenvervoer, India, July 01 2013, Reserve Bank of India, Run batted in, Security (finance)

Income Tax Surveys at Jaipur Result in Detection of Undisclosed Income of Rs. 118 Crore

A Survey action was conducted by the Income Tax Department at Jaipur on 03.09.2013 in the case of a leading Builder and Developer of Jaipur which resulted in the detection of the additional income of Rs. 95.14 crores. The assessee not only admitted the said additional income but also furnished the post dated cheques of… Read More

Tags: Direct tax, Fiscal year, Income tax, Income Tax Department, Jaipur, Rupee, Tax

Direct Tax Collections for August Quarter up by 14.43%

Gross direct tax collections during April-August of the Financial Year 2013-14 is up by 14.43 percent at Rs.1,88,193 crore as against Rs. 1,64,463 crore in the same period last year. While gross collection of Corporate taxes has shown an increase of 11.72 percent and stood at Rs. 1,08,075 crore as against Rs. 96,738 crore in… Read More

Tags: Corporate tax, Direct tax, Fiscal year, Income tax, Percentage, Rupee, STT, Wealth tax

MCA Circular w.r.t. Relaxation of last date and additional fee in filing of e-Form 23C for Appointment of Cost Auditor

General Circular No: 14/2013 52/5/CAB-2011 Government of India Ministry of Corporate Affairs Cost Audit Branch `B-1' Wing, 2nd Floor, Paryavaran Bhawan, CGO Complex, Lodhi Road, New Delhi - 110 003 3rd September, 2013 Subject: Relaxation of last date and additional fee in filing of e-Form 23C for Appointment of Cost Auditor Sir, Reference is invited to General Circular… Read More

Tags: Companies Act 1956, FeedBurner, Fiscal year, Government of India, India, Law, Lodhi Road, New Delhi

CBDT Notification w.r.t. Specified income arising to Karnataka State AIDS Prevention Society

[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. 66/2013 DATED 29-8-2013 S.O. 2642(E) - In exercise of the powers conferred by clause (46) of section 10 of theIncome-tax Act, 1961 (43 of 1961), the Central Government… Read More

Tags: Fiscal year, Gazette of India, Government of India, Income Tax Act, Income Tax Act 1961, India, Karnataka, Taxation in India

Tax Evasion by Foreign Companies

Data on dollars transferred abroad by foreign companies in India is not centrally maintained by the government. However, with a view to prevent shifting of profits out of India and consequent erosion of the Indian tax base, selected international transactions undertaken are analysed every year in accordance with the transfer pricing provisions contained in Chapter X of… Read More

Tags: Finance Act, Fiscal year, Income tax, Income Tax Act, Income Tax Act 1961, India, LokSabha, transfer pricing

Railway Revenue Earnings up by 10.74 Per Cent During April – July 2013

The total approximate earnings of Indian Railways on originating basis during 1st April to 31st July 2013 were Rs. 44260.16 crore compared to Rs. 39969.24 crore during the same period last year, registering an increase of 10.74 per cent. The total goods earnings have gone up from Rs. 27924.26 crore during 1st April 31st July… Read More

Tags: April-July 2013, Bombay Stock Exchange, Conferences, Fiscal year, Indian Railways, Net profit, Percentage, Rupee

Quarterly Report on Debt Management for the Quarter April-June 2013 (Q1 FY14) Released

Since April-June (Q1) 2010-11, Middle Office (MO) is bringing out a quarterly report on debt management. The current report pertains to the quarter April-June 2013 (Q1 FY14). For fiscal year 2013-14 (FY14), gross and net market borrowings were budgeted moderately higher than previous year by 3.4 per cent and 3.6 per cent, respectively. Auctions during… Read More

Tags: April-June, April-June 2013, Business, Economic growth, Fiscal year, June 2013, Middle Office, Percentage

Gross Direct Tax Collection Figures for April-July 2013-14 up by 13.27 %

Gross direct tax collections during April-July of the Financial Year 2013-14 is up by 13.27 percent at Rs. 1,57,169 crore as against Rs. 1,38,751 crore in the same period last year. While gross collection of Corporate taxes has shown an increase of 9.75 percent and stands at Rs. 92,115 crore during April-July in F.Y. 2013-14… Read More

Tags: Corporate tax, Direct tax, Fiscal year, Income tax, Percentage, Rupee, Tax, Wealth tax