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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Restrictions on Mutual Funds to pay Commissions to Distributors to continue
New Sebi chief UK Sinha said he does not intend to reverse rules put in place by his predecessor, by CB Bhave, that restricted the ability of mutual funds to pay commissions to distributors. Indian fund houses, which manage equity and debt schemes with a corpus of over Rs 7,000,00 crore, were hopingfor change in policies… Read More
FICCI to suggest impact of GST on Aviation Sector
A Ficci committee today said it will suggest ideas to the aviation industry on how the proposed Goods & Services Tax (GST) would affect them, along with other recommendations to give the sector a boost. The Ficci Civil Aviation Committee has also set for itself a wide-ranging agenda to give the civil aviation industry a… Read More
SC orders Status Quo on the Ground Handling Dispute at 6 Airports
According to the new regime, drafted in 2007, and postponed two times, private airlines were not allowed to do ground handling through outsourcing. They were asked to do the job through government-approved agencies. The new rules covered mainly the six metros ” Delhi, Mumbai, Bangalore, Hyderabad, Kolkata and Chennai. At present each airline has its… Read More
How relevant is Union minister™s personal discomfort to a National Policy decision?
While according the Environmental Clearance to the Posco project, Union Environment Minister Jairam Ramesh added that he was deeply uncomfortable with the project because the original memorandum of understanding (MoU), which has now expired, had provisions for the export of iron ore. Mr Ramesh then declared that he now expects that the revised MoU between Posco… Read More
Show Cause Notice served on Anna Hazare, Withdrawn
The office of Charity Commissioner, Pune, has tendered an apology to social activist Anna Hazare and withdrew a 'showcause' notice served on him for not submitting the audit report of 'Hind Swaraj Trust' headed by him for two years between 2005 and 2007. In a letter addressed to Hazare, it said the notice was "wrongly… Read More
Minimum Fees to be charged by Chartered Accountants – Recommended
The Committee for Capacity Building of CA Firms and Small & Medium Practitioners, ICAI (CCBCAF & SMP) has taken a major initiative for prescribing the Minimum Recommended Scale of Fees for the professional assignments done by our members of ICAI. The recommendation is about the fee to be charged as per the work performed for… Read More
Income Tax Department issues 40 lacs refunds worth 25,000 crores..and more
The Income Tax (I-T) department has issued 40 lakh refunds worth Rs 25,000 crore in the current financial year to taxpayers and orders have been issued to generate the remaining few lakhs soon. Central Board of Direct Taxes (CBDT) Chairman Sudhir Chandra gave the figures while addressing the top brass and officials of the I-T… Read More
Salient Features of FCRA, 2010 Comes into Effect from May 1, 2011
The Foreign Contribution (Regulation) Act, 2010 has come into effect from May 1, 2011. The Ministry of Home Affairs has issued the necessary Gazette Notification vide S.O. 999 (E) dated the 29th April, 2011 in this regard. The Ministry of Home Affairs has also issued a Gazette Notification vide G.S.R. 349 (E) dated the 29th… Read More
No Conflict Between the Objectives Of High Growth and Low Inflation: RBI
Third Meeting of Inter Ministerial Group (IMG) on Inflation Held ; no Conflict Between the Objectives Of High Growth and Low Inflation in Long Run: Says RBI Governor A meeting of the Inter-Ministerial Group (IMG) on inflation was held today under the Chairmanship of Dr Kaushik Basu, Chief Economic Advisor, Ministry of Finance. The IMG was set-up at the… Read More
Finmin Initiates Public Debate on Negative list for Taxation of Services
Ministry of Finance has initiated a public debate on the issue of a negative list for taxation of services as announced by the Finance Minister, Shri Pranab Mukherjee in his Budget 2011. The text of the speech is as below: Many experts have argued that it will be desirable to tax services based on a… Read More
Services provided by Subcontractors / Consultants chargeable to Service Tax
Circular No. 138/07/2011 Service Tax F. No. 137/57/2011 Service Tax Government of India Ministry of Finance Department of Revenue (Central Board of Excise & Customs) **** New Delhi, the May 2011 To Chief Commissioners of Central Excise & Customs (All) Chief Commissioners of Central Excise (All) Director General of Central Excise Intelligence Director General of… Read More
RBI Policy Guidelines for issuance and operation of Prepaid Instruments in India
RBI/2010-11/512 DPSS.CO.No.2501/02.14.06/ 2010-11 May 4, 2011 All System Providers, System Participants And Prospective prepaid Instrument Issuer Madam/ Dear Sir Policy Guidelines for issuance and operation of Prepaid Instruments in India. A reference is invited to Para 124 of the Monetary Policy statement (2011-2012) on the issue of mobile based semi-closed prepaid payment instruments. Attention is also… Read More
Mobile Banking Transactions in India – Limits increased to 5K
RBI/2010-11/511 DPSS.CO.No.2502 /02.23.02/ 2010-11 May 4, 2011 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks Madam/ Dear Sir Mobile Banking Transactions in India - Operative Guidelines for Banks A reference is invited to Para 125 of… Read More
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