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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IRDA clarification on Process of providing Clearance to Insurance Products
The clearance to Insurance Products takes a lot of time in the country. Policyholders™ protection is the prime concern of the Insurance Regulatory and Development Authority (IRDA) and it does exercise a thorough diligence while approving products accordingly. IRDA has informed that the scrutiny process involves detailed examination of whether: ¢ Product is suitable to… Read More
Increase in Cases of Service Tax evasion
The cases of service tax evasion have increased during the recent time. The details are as under: Year No. of cases detected Service tax evasion involved (Rs. in crores) 2010-11 8399 14291 2011-12 8710 14608 2012-13 (uptoJanuary 2013) 9637 20335 The intensified drive against service tax evaders is the reason for the increase in number of… Read More
Year-on-Year Foreign Investment Requirement as a % of GDP
Increase in Capital Investment Various factors including the rates of savings and investment, productivity of resources, adoption of technology, availability of human capital and infrastructure, cost of finance, foreign trade and demand for the domestic product, capital flows, governance, nature of economic and regulatory institutions etc, influence the growth rate of an economy. Reducing impediments… Read More
No Proposal for Waiving off Education Loan for Students without jobs
At present, there is no proposal under the consideration of the Government to waive off the education loans sanctioned to the students who could not get a job after completing their studies. The Government had in the Budget 2012-13 announced setting up of a Credit Guarantee Fund for Education Loans to ensure better flow of… Read More
CLR Snippets :: India’s Foreign Exchange Reserves
The total foreign exchange reserves (comprising foreign currency assets, gold, special drawing rights and reserve tranche position in IMF) was US$ 304.8 billion at end-March 2011, US$ 294.4 billion at end-March 2012 and US$ 292.0 billion at end-March 2013. In the current fiscal, reserves stood at US$ 295.2 billion as on April 12, 2013. The… Read More
National Pharmaceutical Pricing Policy, 2012 – Price Control on Essential Medicines
Under the provisions of the Drugs (Prices Control) Order, 1995 (DPCO, 1995) the prices of 74 scheduled bulk drugs and the formulations containing any of these scheduled drugs are controlled. In respect of those scheduled medicines, which are part of National List of Essential Medicines-2011 (NLEM), National Pharmaceutical Pricing Authority (NPPA) fixes the prices as… Read More
RBI Governor to interact with Researchers and Analysts over Teleconference
RBI Governor's Interaction with Researchers/Analysts Apropos the announcement of the Monetary Policy Statement 2013-14, Dr. D Subbarao, Governor and Deputy Governors of the Reserve Bank of India will interact with researchers/analysts through teleconference between 2.30 p.m. and 3.30 p.m. on Monday, May 6, 2013. One can participate in the teleconference after registration. Click here for… Read More
CLR Snippets :: Call Rates of PSU Telecom Companies
As per the existing tariff framework, tariff for telecommunication access services is under forbearance except for national roaming and Rural Fixed Line Services. The service providers have the flexibility to offer different tariff schemes depending on the market conditions and other commercial considerations. Each service provider devices various schemes in such a manner as to… Read More
Income Tax notification in relation to Sec 138 of the IT Act – Disclosure of Information
NOTIFICATION NO. 32/2013 Dated: 18/04/2013 Whereas the Central Government is of the opinion that it is necessary to do so in the public interest; and, therefore, in pursuance of sub-clause (ii) of clause (a) Sub-Section (1) of 138 of the Income-tax Act, 1961, the Central Government hereby specifies officers of the rank of Joint Director and above serving… Read More
Income Tax Amendment Notification in relation to Deduction u/s 80IA
NOTIFICATION NO. 31/2013 Dated: 18/04/2013 In exercise of the powers conferred by clause (iii) of sub section (4) of section 80-IA of theIncome-tax Act, 1961 (43 of 1961), the Central Government hereby makes following amendment to the notification of the Government of India in the Ministry of Finance, Department of Revenue published in the Gazette of India, Part… Read More
Procedure for refund / revalidation of DEPBs/Reward Scrips for re-credit of 4% CVD (SAD)
TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY (PART-I, SECTION-1) GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE PUBLIC NOTICE No. 06(RE 2013)/2009-2014 NEW DELHI: the 18th April, 2013 Subject: Procedure for refund / revalidation of DEPBs/Reward Scrips for re-credit of 4% CVD (SAD). In exercise of powers conferred under Para 2.4 of the Foreign… Read More
Increasing accuracy of data capturing by DGCI&S – Alignment of Chapter 3 schemes with ITC HS
Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan, New Delhi Trade Notice No. 01 /2013 dated 18th April, 2013 To All RAs of DGFT Members of Trade Subject: Increasing accuracy of data capturing by DGCI&S- Alignment of Chapter 3 schemes with ITC HS Various items have… Read More
DTAA with Argentina
SECTION 90 OF THE INCOME-TAX ACT, 1961 DOUBLE TAXATION AGREEMENT AGREEMENT FOR EXCHANGE OF INFORMATION AND ASSISTANCE IN COLLECTION WITH RESPECT TO TAXES WITH FOREIGN COUNTRIES ARGENTINE AMENDMENT IN NOTIFICATION NO. GSR 710(E), DATED 18-11-1993 NOTIFICATION NO. 22/2013 [F.NO. 504/3/2010-FTD-II]/SO 824(E), DATED 22-3-2013 Whereas, an Agreement between the Government of the Republic of India and… Read More
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