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Finance Minister™s Inaugural Address at the International Conference on Economic Policies for Emerging Economies
Following is the text of the inaugural address of Union Finance Minister, Shri Pranab Mukherjee at the International Conference on Economic Policies for Emerging Economies delivered here today: It gives me great pleasure to deliver the inaugural address at the International Conference on Economic Policies for Emerging Economies organized jointly by the Ministry of Finance,… Read More
Further Understanding of Issues Required to Sustain Growth and Create Inclusive Outcomes for the People : FM
The Union Finance Minister Shri Pranab Mukherjee has said that we need to further our understanding of issues where greater and coordinated policy actions are needed to sustain growth and create inclusive outcomes for the people. He was delivering the inaugural address at the International Conference on Economic Policies for Emerging Economies here today. The… Read More
Clarification on levy of service tax on distributors/sub-distributors of films & exhibitors of movie – regarding.
Circular No.148 / 17 / 2011 - ST F.No.354/27/2011-TRU Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Tax Research Unit Chief Commissioners of Central Excise and Service Tax (All), Director General (Service Tax), Director General (Central Excise Intelligence), Director General (Audit), Commissioners of Service Tax (All), Commissioners… Read More
Revival Package for Long Term Cooperative Loans Structure
Based on the recommendations of the Vaidyanathan Task Force-II, the Government had approved the Revival Package for Long Term Cooperative Credit Structure (LTCCS) in February, 2009. However, a Task Force was constituted to examine the impact of the Agricultural Debt Waiver and Debt Relief Scheme (ADWDRS), 2008 and the implementation of the revival package for… Read More
Interest Subvention Scheme
The Interest Subvention Scheme is being implemented by the Government of India since 2006-07 to make short-term crop loans upto Rs. 3 lakh for a period of one year available to farmers at the interest rate of 7 percent per annum. The Government of India has since 2009-10 been providing additional interest subvention to prompt… Read More
New Pension Scheme
New Pension Scheme (NPS) is a defined contribution scheme, its pay out depends upon the amount of contribution and the growth on the investment over a period of time for an individual while defined benefit schemes pay out is defined and is based on salary and number of years in service etc. at the time… Read More
ICWAI now ICAI
Cost and Works Accountants will now only be known as Cost Accountants, with Parliament approving amendments to the existing legislation earlier today. Also, there will be some brand confusion as the Institute of Cost and Works Accountants of India will now be called the Institute of Cost Accounts of India. As a consequence, the Chartered… Read More
Foreign Exchange Management Act, 1999 (FEMA) Foreign Exchange (Compounding Proceedings) Rules, 2000 (the Rules) – Compounding of Contraventions under FEMA, 1999
Related Press Release RBI/2011-12/298 A.P. (DIR Series) Circular No.57 December 13, 2011 To, All Category I Authorised Dealer banks Madam / Sir, Foreign Exchange Management Act, 1999 (FEMA) Foreign Exchange (Compounding Proceedings) Rules, 2000 (the Rules) - Compounding of Contraventions under FEMA, 1999 Attention of all the Authorised Dealer Category - I (AD Category -… Read More
Pension Under Provident Fund Schemes
In exercise of powers conferred under Section 6A of the Employees™ Provident Funds & Miscellaneous Provisions Act, 1952, the Central Government formulated the Employees™ Pension Scheme, 1995. The Scheme provides pensionary benefits to the members upon superannuation/retirement. In addition, in case of death of member/member pensioner, the pensionary benefits are also given to widow and… Read More
Inactive Companies
As per the present policy of the Ministry, companies which have not filed their Annual Returns and Balance Sheets for the last three consecutive years or more are identified as ˜dormant companies™. The details of the dormant companies are as under: As on 31.03.2011- 1, 74, 400 As on 07.12.2011- 1, 56, 474 The Government… Read More
Blacklisting of Companies
The case number 43/2010 on Modular Operation Theatres is under the adjudication in the Competition Commission of India (CCI) which is a quasi judicial body. Companies found indulging in bid rigging, cartelization and other fraudulent means thereby adversely affecting the Competition would be dealt with appropriately under the relevant provisions of the Competition Act, The… Read More
Fraudulent Companies
Some Complaints have been received against a few companies after getting just a registration number from the Registrar of Companies are active in the business of obtaining money under various schemes by alluring people, particularly in rural areas , on false promise of returns. However, regulation of collection of money by companies under various schemes… Read More
Investments in subsidiaries and other companies Guidelines
RBI/2011-12/297 DBOD. FSD. BC.62/24.01.001/2011-12 All Scheduled Commercial Banks (excluding RRBs) Dear Sir, Section 19 of the Banking Regulation Act, 1949- Investments in subsidiaries and other companies Guidelines Please refer to the instructions contained in paragraphs 2 and 3 of our Master Circular DBOD. No. FSD.BC.15 / 24.01.001/ 2011-12 dated July 1, 2011 on Para-Banking Activities which deal… Read More
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