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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Message by the President of ICWAI
President Communiqué May, 2011 To exist is to change, to change is to mature, to mature is to go on creating oneself endlessly. Patience is bitter but its fruit is sweet. - Anonymous Dear Professional Colleagues, It gives me immense pleasure to share with you the growth story of India which is gaining momentum and… Read More
2G scam : No One will be spared : SC
The Supreme Court Bench directed the IT department to submit the action taken report against tax evaders on May 13,the next date of hearing in case of 2G scam. A bench of justices G S Singhvi and A K Ganguly assured the petitioners that no person, irrespective of their chair and wealth, could get immunity… Read More
India prepares for Madrid System of Trademarks – Register or Lose your Brand Name
The Controller General of Patents PH Kurian has announced that India will join the Madrid System of Trademarks within one year, setting off a warning to Indian companies to 'register it, or lose it' as far as their brand names are concerned. India had been negotiating with the World Intellectual Property Organization (WIPO) to join… Read More
FICCI to set up National Knowledge Functional Hub
FICCI has proposed setting up of National Knowledge Functional Hub (NKFH) to engage higher Educational Institutions with the industry to produce quality engineering graduates and meet increasing requirement of engineers.. FICCI Capital Goods Committee Chairman K Venkataramanan said recommended that each capital goods company can adopt two to three institutions in its vicinity for sustained interaction… Read More
Penalty imposed by RBI on 19 Commercial Banks for non compliance of Derivatives instructions
Press Release : 2010-2011/1555 dated 26th April 2011 The Reserve Bank of India has imposed penalties on 19 commercial banks in exercise of the powers vested with it under the provisions of Section 47A(1)(b) read with Section 46(4)(i) of the Banking Regulation Act, 1949. The penalties have been imposed on these banks for contravention of… Read More
Service Tax exemption to professionals withdrawn w.r.t appearance before any statutory authorities
Vide the below Notification, the Ministry of Finance has rescinded the earlier Notification no. 25/2006 dated 13th July 2006 which exempted the levy on service tax with respect to services provided or to be provided by a practicing chartered accountant, a practicing cost accountant and a practicing company secretary respectively, in his professional capacity, to a… Read More
Stamp duty not payable in case of increase in Authorised Share Capital in Delhi
The Delhi High Court, in its recent judgment dated 21.04.2011, has ordered that no Stamp duty can be levied on the increased amount of Authorised Share Capital. The Petitioner - M/s S.E. Investments questioned the authority and competence of the Registrar of Companies and the Collector of Stamps- Govt. of National Capital Territory of Delhi to… Read More
Service Tax not applicable on fees for short-duration open programmes by IIM
The Indian Institutes of Management (IIM) have won the fight for service tax exemption on fees generated by short-duration open enrolment Executive Programmes. The Central Board of Excise and Customs, a wing of the department of revenue under the finance ministry, has gone back on its decision to charge service tax on these programmes. In… Read More
Conditions and Modalities for registration of contracts of Assam Comilla Cotton with DGFT
Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhavan, New Delhi. Policy Circular No. 29(RE-2010)/2009-14 Dated the 19th April, 2011 (Issued from F.No 01/91/180/1194/AM10/Export Cell) To All Customs Authorities / All Regional Authorities / Members of Trade. Subject:- Conditions and modalities for registration of contracts of Assam Comilla Cotton with DGFT. As per Notification… Read More
EOUs shipments post 1.01.2011 require ‘declaration of Indent’ for claiming Chapter 3 benefits of Foreign Trade Policy
Government of India Department of Commerce Directorate General of Foreign Trade Udyog Bhavan, New Delhi-110011 Policy Circular No. 28 (RE-2010)/2009-14 Dated: 15 April, 2011 (Issued from F. No.01/91/180/1582/AM10/PC3) To All Regional Authorities FIEO and All EPCs Subject:- Clarification about requirement of Declaration of Intent for EOU shipping bills for claiming Chapter 3 scheme benefits. 1. Para 3.11.8 of… Read More
CBI official says Satyam investigation almost complete
The investigation into the over Rs 7,136-crore Satyam Computer Services financial fraud by the Central Bureau of Investigation is almost complete. The investigating agency had filed three charge-sheets in the case so far with a host of charges on the key accused Mr B. Ramalinga Raju, founder and former chairman of Hyderabad-based Satyam Computer, his… Read More
Silver shinning better than Gold
Silver seems to be shinning better than gold these days. It continues to rise to new highs, almost on a daily basis, and touched Rs70,000 a kg in India on Friday. Experts have failed to understand where the white metal is heading towards. During the last one year, silver price has unexpectedly increased by 149% or 2.5… Read More
Applicable Income Tax Returns Forms for Assessment Year 2011-12 -Notified by CBDT
The Central Board of Direct Taxes has notified new Income Tax Return Forms for the Financial Year 2010-11 and Assessment Year 2011-12. The new return forms has been made effective vide Notification No. 18/2011 dated 5-4-2011 and the same shall be applicable from 1st April 2011. For simplicity, the summary of applicable forms applicable to a respective… Read More
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