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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Direct Tax incentives to promote Skill Development – National Manufacturing Policy
The National Manufacturing Policy (NMP) 2011 proposed to provide inter alia, the following direct taxes incentives to promote skill development: Weighted deduction of 150% of the expenditure (other than land or building) incurred in Public Private Partnership (PPP) projects for skill development in manufacturing sector in separate facilities in coordination with National Skill Development Corporation… Read More
Ordnance to Amend the Securities Laws – SEBI empowered to Regulate Pooling of Funds
An Ordinance to Amend the Securities Laws Promulgated; SEBI would have now Powers to Regulate any Pooling of Funds Under An Investment Contract Involving A Corpus Of Rs.100 Crore Or More, Attach Assets In Case Of Non-Compliance And Chairman SEBI would have Powers to Authorize The Carrying out of Search and Seizure Operations, As Part… Read More
Exim Bank’s Line of Credit of USD 35 million to the Government of the Republic of Ghana
RBI/2013-14/145 A.P. (DIR Series) Circular No.13 July 17, 2013 To All Category - I Authorised Dealer Banks Madam / Sir, Exim Bank's Line of Credit of USD 35 million to the Government of the Republic of Ghana Export-Import Bank of India (Exim Bank) has entered into an Agreement dated December 14, 2012 with the Government… Read More
Section 24 of the Banking Regulation Act, 1949 Maintenance of Statutory Liquidity Ratio Marginal Standing Facility
RBI/2013-14/144 DBOD.No.Ret.BC. 33/12.02.001/2013-14 July 17, 2013 All Scheduled Commercial Banks (Excluding Regional Rural Banks) Dear Sir, Section 24 of the Banking Regulation Act, 1949 Maintenance of Statutory Liquidity Ratio (SLR) Marginal Standing Facility (MSF) Please refer to our Circular DBOD.No.Ret.BC.95 - 12.02.001-2011-12 dated April 17, 2012 wherein it was advised that Scheduled Commercial Banks (SCBs) may borrow… Read More
Circular on Special Repo Window for Liquidity Requirement of Mutual Funds
RBI/2013-14/143 FMD.MOAG.No. 81/01.01.001/2013-14 July 17, 2013 All Scheduled Commercial Banks (excluding RRBs) Dear Sir, Special Repo Window for Liquidity Requirement of Mutual Funds As announced today, Reserve Bank of India will be opening a Special Repo window for a notified amount of Rs. 25,000 crore with a view to enabling banks to meet the liquidity… Read More
Central Banking in Emerging Economies Emerging Challenges
(Speech delivered by Dr. Duvvuri Subbarao, Governor, Reserve Bank of India at the European Economics and Financial Centre, London on July 17, 2013) First of all, my thanks to the European Economics and Financial Centre for inviting me to speak at the Distinguished Speakers Seminar. It is an honour to which attach a lot of value.… Read More
RBI’s Special Repo Window for Liquidity Requirements of Mutual Funds
As a contingency measure, the Reserve Bank of India (RBI) has decided to conduct a special 3-day repo at an interest rate of 10.25 per cent for a notified amount of Rs. 25,000 crore with a view to enabling banks to meet the liquidity requirements of mutual funds. Details of the facility are being announced… Read More
Income Tax – Instruction regarding Standard Operating Procedure for appeals/SLPs filed by the assessees in the Supreme Court
INSTRUCTION NO. 08/2013 Dated 16-07-2013 Subject: Standard Operating Procedure for appeals/SLPs tiled by the assessees in the Supreme Court and related matters: Instruction regarding. Instruction no. 4 of 2011 dated 9th March 2011 of CBDT laying down the Standard Operating procedure on filing of appeals/SLPs by the Income Tax Department contains, inter-alia, the procedure to be… Read More
Payment of interest u/s 244A of Income Tax Act 1961 when assessee is not at fault
INSTRUCTION NO. 07/2013 Dated 15-07-2013 Subject: Payment of interest u/s 244A of Income Tax Act 1961 when assessee is not at fault - regarding. Hon'ble Delhi High Court vide its judgement in case of Court On Its Own Motion Vs. UOI and Others in W.P,(C) 2659/2012 dated 14.03.2013 has issued seven Mandamus for necessary action by the… Read More
Past adjustment of refunds against the arrears where procedure u/s 245 of Income Tax Act was not followed
INSTRUCTION NO. 6/2013 DATED 10-7-2013 Subject: Past adjustment of refunds against the arrears where procedure u/s 245 of Income Tax Act was not followed - regarding. Hon'ble Delhi High Court vide its judgement in case of Court On Its Own Motion Vs. UOI and Others in W.P.(C) 2659/2012 dated 14.03.2013 has issued seven Mandamus for necessary action… Read More
Liquidity Adjustment Facility
RBI/2013-14/142 FMD.MOAG. No. 80/01.01.001/2013-14 July 16, 2013 All Scheduled Commercial Banks (excluding RRBs) and Standalone Primary Dealers Dear Sir, Liquidity Adjustment Facility As you are aware, Reserve Bank of India announced various measures yesterday to address the exchange rate volatility. As a part of the measures, it has been decided that the overall allocation of… Read More
Standardization and Enhancement of Security Features in Cheque Forms/Migrating to CTS 2010 standards
RBI/2013-14/141 DPSS.CO.CHD.No./133 / 04.07.05 / 2013-14 July 16, 2013 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/Local Area Banks Madam / Dear Sir Standardization and Enhancement of Security Features in Cheque Forms/Migrating to CTS 2010… Read More
Marginal Standing Facility Rates
RBI/2013-2014/140 FMD.MOAG. No.79 /01.01.001/2013-14 July 16, 2013 All Scheduled Commercial Banks (excluding RRBs) and Primary Dealers Dear Sir, Marginal Standing Facility Rates As you are aware, Reserve Bank of India announced various measures yesterday to address the exchange rate volatility. As a part of the measures, it has been decided to recalibrate the Marginal Standing… Read More
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