eMinds Legal Advocates & Solicitors
eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.
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Guidance notes on implementation of reporting requirements under rules 114F to 114H of the Income-tax Rules
The Central Board Of Direct Taxation has issued a Notification No. F.No 500/137/2011-FTTR-lll dated 31st August, 2015 of the Guidance notes on implementation of reporting requirements under rules 114F to 114H of the Income-tax Rules. Please click on the below link to access the rules: Guidance notes on implementation of reporting requirements under rules 114F to 114H of the… Read More
Due date for filing Returns of Income for the Income-tax assessees in the State of Gujarat extended till 7th September, 2015
The Income tax of India has issued a notification dated 31st August, 2015 of the due date for filing Returns of Income for the Income-tax assessees in the State of Gujarat extended till 7th September, 2015. Please click on the below link to access the rules: Due date for filing Returns of Income for the Income-tax… Read More
Companies (Management and Administration) Amendment Rules, 2015
The Ministry of Corporate Affairs has issued a notification dated 28th August, 2015 of the Companies (Management and Administration) Amendment Rules, 2015 to bring out necessary amendments in the interest of the stakeholders. Please click on the below link to access the amendment notification. Companies (Management and Administration) Amendment Rules, 2015 Read More
Reporting requirement under Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standards (CRS)
RBI/2015-16/165 DBR.AML.BC.No.36/14.01.001/2015-16 August 28, 2015 The Chairpersons/ CEOs of all Scheduled Commercial Banks/ Regional Rural Banks/ Local Area Banks/ All India Financial Institutions/ All Non-banking Financial Companies/ All Primary (Urban) Co-operative Banks /State and Central Co-operative Banks (SCBs / CCBs) / All authorised persons Dear Sir/ Madam, Reporting requirement under Foreign Account Tax Compliance Act… Read More
No wealth tax on land which remains vacant as per construction Plan
Madras High Court held in CIT Vs M/s MIL Industries Ltd that the vacant land left on constructed property as per the construction plan of that property would not be treated as a vacant urban land because the vacant land left was the requirement of the construction plan, failing which was not possible to construct… Read More
CBEC issues clarification on service of SCN
The Central Board of Excise and Customs has issued clarification relating to waiver of issuance of SCN and conclusion of proceedings in Service tax and Central Excise dated 18th August, 2015. Please click on the below link to access the Notification. CBEC issues clarification relating to waiver of issuance of SCN and conclusion of proceedings… Read More
Sexploitation to carry wider legal meaning
The legal definition of 'sexual exploitation' could be expanded to include portrayal of women in a sexual manner in newspapers, television channels and websites, a step that could bring a paradigm shift in the visual and graphical representation of women in media. National Legal Services Authority (Nalsa) submitted a report to the Supreme Court with… Read More
CBDT notifies procedures for financial institutions to file information under FATCA
The Central Board of Direct Taxes (CBDT) has notified the procedure for financial institutions to register and submit information under the Foreign Account Tax Compliance Act (FATCA), under which the US and India would get automatic exchange of information on tax evaders from September 30. However, the procedures notified on August 25 came just ahead of the due date… Read More
Security and Risk Mitigation Measures for Card Present and Electronic Payment Transactions Issuance of EMV Chip and PIN Cards
RBI/2015-16/163 DPSS.CO.PD.No.448/02.14.003/2015-16 August 27, 2015 All Scheduled Commercial Banks including RRBs / Co-operative Banks / State Co-operative Banks / Central Co-operative Banks / Authorised Card Payment Networks Dear Madam / Sir, Security and Risk Mitigation Measures for Card Present and Electronic Payment Transactions Issuance of EMV Chip and PIN Cards A reference is invited to… Read More
Detection of Counterfeit Notes
RBI/2015-16/162 DCM (FNVD) No. 776/16.01.05/2015-16 August 27, 2015 The Chairman / Managing Director / Chief Executive Officer All Banks Madam / Sir, Detection of Counterfeit Notes Please refer to our Circular DCM (FNVD) No. 5840/16.01.05/2012-13 dated June 27, 2013 on Detection and Reporting of Counterfeit Notes. The procedure for detection of counterfeit notes has been reviewed in… Read More
Streamlining flow of credit to Micro and Small Enterprises (MSEs) for facilitating timely and adequate credit flow during their ˜Life Cycle™
RBI/2015-16/160 FIDD.MSME & NFS.BC.No.60/06.02.31/2015-16 August 27, 2015 All Scheduled Commercial Banks (Excluding Regional Rural Banks) Dear Sir / Madam, Streamlining flow of credit to Micro and Small Enterprises (MSEs) for facilitating timely and adequate credit flow during their ˜Life Cycle™ Micro and small units are more prone to facing financial difficulties during their Life Cycle… Read More
Supreme Court seeks action strategy against girl trafficking
The Supreme Court has initiated and asked the Central Government to come out with an action plan to prevent trafficking of girls for sexual exploitation, their rescue and rehabilitation after deliberating with all the states. It has also asked the Centre to discuss the report of the National Legal Services Authority (NALSA) on prevention, rescue… Read More
FSSAI makes a move to notify the draft food guidelines
The Food Safety & Standards Authority of India (FSSAI) has set in motion the process of notifying guidelines for proprietary foods, health supplements and additives, which were not covered under the food safety regulations of 2011. The setback of the 2011 regulations are that it covers only 377 food items, implying that only these products… Read More
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