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Articles by eMinds Legal

DVAT – Submission of information in Form T-2 to come into force from the 01st February, 2013.

(TO BE PUBLISHED IN PART IV OF THE DELHI GAZETTE EXTRAORDINARY) GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI DEPARTMENT OF TRADE AND TAXES (POLICY BRANCH) VYAPAR BHAWAN, I.P. ESTATE, NEW DELHI-110 002 No.F.7(433)/Policy-II/VAT/2012/1079-1090                                            … Read More

Changes in Foreign Currency rate-of-exchange from 4th January, 2013

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, PART-II, SECTION 3, SUB-SECTION (ii), EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF EXCISE AND CUSTOMS Notification No. 01/2013-CUSTOMS (N.T.) DATED THE 3rd January, 2013 13 Pausa, 1934(SAKA) S.O. (E).  In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52… Read More

Classification and Reporting of Frauds

RBI/2012-13/363 DBS.FrMC.BC.No.5/23.04.001/2012-13 January 04, 2013 The Chairmen & Chief Executive Officers of all Scheduled Commercial Banks (excluding RRBs) and All India Select Financial Institutions Dear Sir, Frauds Classification and Reporting Please refer to our letter DBS. FrMC. BC. No.1 /23.04.001/2012-13 dated July 02, 2012 i.e. the Master Circular on 'Frauds Classification and Reporting'. 2. In view of… Read More

Constitution of Fourteenth Finance Commission

As mandated by the Article 280 of the Constitution, the Government has constituted the Fourteenth Finance Commission consisting of Dr. Y.V.Reddy, former Governor Reserve Bank of India, as the Chairman and the following four other members, namely: - 1. Prof Abhijit SenMember, Planning Commission Member(Part Time) 2. Ms. Sushma NathFormer Union Finance Secretary Member 3. Dr. M.Govinda… Read More

Delhi VAT Notification

VAT - Delhi - Notification No. No.F.2(5) Policy-II VAT 2012 1056-67 Dated Tuesday, January 01, 2013 - Revoke the monetary limit of 'one thousand and five hundred rupees' prescribed - Eligible for Claiming Refund of tax Borne in respect of Purchase Made Against a Single Tax Invoice which exceeds the amount of 'five thousand rupees'… Read More

Tax Collection Figures from Q1-Q3 2012 up by 14%

Net Direct Tax Collections Figures for April-December 2012-13 Up by 13.70 Percent at Rs. 3,68,322 Crore as Against Rs. 3,23,956 Crore in the Same Period Last Year Gross Direct Tax collections during April-December of the Financial Year 2012-13 was up by 8.01 percent and stood at Rs. 4,28,278 crore as against Rs. 3,96,530 crore in… Read More

CBDT Grants Exemption from TDS on the Payments of Certain Categories

CBDT Grants Exemption from TDS on the Payments of Certain Categories to Mitigate Compliance Burden on Businesses Held by Individuals, Firms or Corporate Etc Who are Using the Financial Services Offered by Banks To mitigate compliance burden on businesses held by individuals, firms or corporate etc who are using the financial services offered by banks,… Read More

News on 45th Indian Labour Conference

45th Session of the Standing Labour Committee | Finalizes Agenda for the 45th Indian Labour Conference       ˜Rapid economic growth™ coupled with ˜Safeguarding the rights of the workers™ will lay the foundation of our country™s development in a sustained manner. Shri Mallikarjun Kharge, Minister of Labour and Employment, emphasized this while delivering his presidential address at… Read More

Focus on Restoring Indian Economy back on the path of higher growth: FM

The Union Finance Minister Shri P .Chidambaram said that higher growth in economy gives an opportunity to the Government to roll out development programmes for different sections of society especially for neglected and poor sections of society. In this regard he specifically mentioned about MGNERGA, National Rural Health Mission, Prime Minister™s Gramin Sadak Yojana and… Read More

Finance Minister: Need to Revive investment in Manufacturing and Service Sector

The Finance minister has said that there is a need to revive investments in the manufacturing and service sector in order to create more job opportunities. The Finance Minister said that at present, the economy is passing through a difficult phase mainly due to external factors and, therefore, there is immediate need to tide over… Read More

Exchange Rate of Foreign Currency Related to imported and Export Goods

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.111/2012-CUSTOMS (N.T.), dated the 20th December, 2012 vide number S.O.2966 (E), dated the 20th December, 2012, except as respects things done or… Read More

CCI Modifies Apartment Buyers Agreement In The DLF Case

The Competition Commission of India passed a supplementary order modifying the Apartment Buyers Agreement entered into between DLF and the apartment allottees. This order under Section 27 of the Competition Act, 2002 relates to the order of the Hon™ble Competition Appellate Tribunal of March 29, 2012, by which the Commission was directed to pass an… Read More

FM Statement on Inclusive Growth

The Finance Minister has stated that Agriculture Growth Vital for inclusive Growth The Union Finance Minister Shri P .Chidambaram said that Agriculture and Allied Sectors are critical sectors for inclusive growth. The agriculture growth rate for the 11th Plan has been targeted at 3.3 per cent as compared to 2.2 per cent achieved during the… Read More

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