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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Reverse Mortgage (Amendment) Scheme 2013
[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. 79/2013 New Delhi, the day of 07th October, 2013 In exercise of the powers conferred by clause (XVI) of section 47 of the Income-tax Act, 1961 (43 of… Read More
CCI Chairman says there is a need to adopt a National Competition Policy
Shri Ashok Chawla, Chairman, Competition Commission of India has emphasised on the need to adopt National Competition Policy. He was speaking at a seminar on National Competition Policy; Second Big Wave of Reforms, organised by Consumer Unity & Trust Society (CUTS) International at Delhi yesterday. Shri Chawla emphasised that the competition law is an essential… Read More
Launch of new RTGS System
RBI/2013-14/324 DPSS (CO) RTGS No.801/04.04.017/2013-14 October 11, 2013 The Chairperson / Chief Executive Officer RTGS Members Madam / Dear Sir, Launch of new RTGS System Please refer to our Circular RBI/2012-13/355 [DPSS (CO) RTGS No.1052/04.04.017/2012-13 dated December 31, 2012] regarding implementation of new RTGS System conforming to ISO 20022 messaging standard. 2. The new RTGS system… Read More
Overseas Foreign Currency Borrowings by Authorised Dealer Banks
RBI/2013-14/323 A.P. (DIR Series) Circular No. 61 October 10, 2013 To All Category - I Authorised Dealer Banks Madam / Sir, Overseas Foreign Currency Borrowings by Authorised Dealer Banks Attention of Authorised Dealer Category I banks is invited to Regulation no. (4)(2)(i) of Notification No. FEMA 3/RB-2000 dated May 3, 2000 as amended from time to time… Read More
Monetary Policy Statement for 2013-14 w.r.t Distribution of Banknotes and Coins
RBI/2013-14/322 DCM (Plg) No. G - 14/10.65.03/2013-14 October 10, 2013 The Chairman & Managing Director / Chief Executive Officer (All Scheduled Commercial banks including RRBs) Madam/ Dear Sir, Monetary Policy Statement for 2013-14-Distribution of Banknotes and Coins Alternative Avenues Please refer to Para 110 of the Monetary Policy Statement 2013-14 wherein it was stated that With a… Read More
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
Consultative Paper on proposed SEBI (Real Estate Investment Trusts) Regulations for Public Comments
The Consultative Paper and draft SEBI (Real Estate Investment Trusts) Regulations are placed on SEBI website for Public Comments. The full text of the Consultative Paper and the draft Regulations is available on here. Click here. Comments are invited on the Consultative Paper latest by October 31, 2013. ------------------------------------------------------------ Excerpts from the Paper 1. Background 1. India™s… Read More
Regaining the Growth Momentum: Issues and Imperatives
(Address by Dr. K. C. Chakrabarty, Deputy Governor, Reserve Bank of India at the Sixth Annual Banking Conference Bank on it, 2013 organised by the Narsee Monjee Institute of Management Studies in Mumbai on Oct 5, 2013) Shri Pratip Chaudhuri, Former Chairman, State Bank of India; Dr. Rajan Saxena, Vice-Chancellor, Narsee Monjee Institute of Management… Read More
RBI releases its monthly Bulletin for October 2013
The Reserve Bank of India today released the October 2013 issue of its monthly Bulletin. The Bulletin includes five special articles: (1) Performance of Private Corporate Business Sector, 2012-13; (2) Performance of Financial and Investment Companies, 2011-12; (3) Monthly Seasonal Factors of Select Economic Time Series; (4) India™s Foreign Trade: Q1 of 2013-14 (April-June); and (5) House… Read More
United Nations Handbook On Double Tax Avoidance Treaties
The United Nations has released a publication titled Handbook On Selected Issues in Administration of Double Tax Treaties for Developing Countries. The handbook contains a series of articles by well known tax experts, such as Mr. Philip Baker, the acclaimed authority on international taxation, who has written a detailed article on Improper use of tax treaties,… Read More
CBDT Order On Appointment Of IRS Officers As Joint Commissioners
The CBDT has issued Order No. 186 of 2013 dated 01.10.2013 stating that the President has appointed 164 officers of the India Revenue Service (Income Tax) to the grade of Joint Commissioner of Income-tax purely on Ad-hoc basis in the pay scale of Rs. 15,600-39,100 + 7,600/- with immediate effect and until further orders. CBDT… Read More
Transfers Of Hon’ble Members Of The ITAT (Oct 2013)
Vide Order dated 04.10.2013 passed pursuant to the consultations with the collegium of the ITAT consisting of the President and two senior most Vice Presidents the following Members of the ITAT are hereby transferred in the same capacity to the respective Benches, mentioned below, with immediate effect: Name Present place of posting Transferred place of… Read More
Accrual Of Income – Supreme Court Lays Down Important Law
CLR Editorial Note The question for consideration in this appeals is whether the benefit of an entitlement to make duty free imports of raw materials obtained by the assessee through advance licences and duty entitlement pass book issued against export obligations is income in the year in which the exports are made or in the year in which… Read More
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