Shantanu eMinds Legal Consulting Pvt Ltd
eMinds Legal Consulting Pvt. Ltd. is a Consulting Firm in India specialzing in Corporate Laws, Compliances, Secretarial, FEMA, Indirect Taxation, Cyber Laws & Contracts. The Firm comprises of a team of professionals of Company Secretaries, Lawyers and Chartered Accountants with an in-depth subject matter knowledge and participative industry experience of over 15 years.
Custom Notification on Ojhar as a Offloading centre
[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii)] Government of India Ministry of Finance (Department of Revenue) Notification No. 29/2013-Customs (N.T.) New Delhi, the 11th March, 2013 S.O¦¦..(E). In exercise of the powers conferred by clause (a) of sub-section (1) of Section 7 of the Customs Act, 1962 (52… Read More
Long term Capital Gains on Share transfer of Indian Listed Cos. between foreign entities exempt from tax – Goodyear case
Background: In 2011, US based manufacturer Goodyear Tire and Rubber Company had transferred 74% of its holding in Goodyear India to its subsidiary in Singapore without taking any consideration. The Indian Tax claimed that there is a tax implication in this transaction, while the Authority for Advanced Ruling (AAR), ruled that this particular transaction is not subject to… Read More
CIL Floats Expression of Interest for Overseas Coal Assests
Coal India Limited (CIL) had floated an expression of interest for selection of strategic partners from four countries namely Indonesia, South Africa, Australia and USA in July, 2009. After evaluation some of the proposals were short listed and due diligence activities were carried out for 3 brown-filed coal assets from listed companies one each in… Read More
GoI nod to providing Time Bound Services to Citizens
The Government, in a meeting on 7th March, has given its nod to a Bill which is aimed at providing time-bound service delivery for passports, pensions and birth and death certificates, among several others. The bill was introduces in 2011 and is known as the Right of Citizens for Time-Bound Delivery of Goods and Services… Read More
Decontrol of Sugar proposals likely to be placed before the cabinet in a week
The decontrol of the Sugar sector has taken a new turn with the PM Mr. Manmohan Singh intervening to ensure speed to that process. The sector has remained under strict state supervision despite ongoing liberal reforms which started two ago. The Prime Minister has asked the Ministry of Food to start acting promptly on the… Read More
MoF Instructions regarding continuation of on-going Central Schemes from XI to XII Plan
The ministry of finance has provided an on the subject of continuation of Plan Schemes from XI to XII Plan, detailing the modalities for continuation of Central Sector (CSs) and Centrally Sponsored Schemes (CSSs) from XI to XII Plan. It has come to the notice that the administrative Ministries have not been able to complete… Read More
Agenda for FIPB’s 186th Meeting to be held on 24th Jan 2013
Special Messenger Most Immediate No. 7(01)/2013-FIPB Government of India Ministry of Finance Department of Economic Affairs (FIPB Unit) **** New Delhi, the January 8, 2013. Office Memorandum Subject: Meeting of the Foreign Investment Promotion Board (FIPB) - regarding. The 186th Meeting of the Foreign Investment Promotion Board (FIPB) is scheduled to be held on Friday,… Read More
FIPB – Postponement Notice for 186th Meeting to be held now on 24th January,2013
Special Messenger Most Immediate No. 7(01)/2013-FIPB Government of India Ministry of Finance Department of Economic Affairs (FIPB Unit) New Delhi, the January 18, 2013. Office Memorandum Subject: Meeting of the Foreign Investment Promotion Board (FIPB) - regarding. The undersigned is directed to refer to this Department™s Office Memorandum of even number dated the January 8,… Read More
Government cleans rules regarding taxing IT companies
A day after deferring the controversial GAAR rules, the Ministry of Finance (MoF) has now sought to clear its stand regarding tax breaks being offered on software development done ˜Onsite™ i.e. at the client™s offices overseas. The MoF has stated that the Indian IT companies are allowed to claim tax benefits with reference to software… Read More
“Onsite” Software work will continue to derive Tax benefits
The $100 billion Information Technology sector got a major boost from the Ministry of Finance which declared that they will continue to benefit from Tax exemptions for onsite work. The Ministry said that the IT Firms in India which deploy software development professionals onsite at client locations overseas, will continue to benefit from tax exemptions.… Read More
Partial Deregulation of Diesel Prices
In a much anticipated and awaited move, the UPA 2 government partially deregulated the diesel prices on Thursday. The Indian oil marketing companies (OMCs) will now be able to hike the prices of diesel periodically. Minister of Oil Mr. Veerappa Moily has said the other day that the OMCs will now be able to cover the… Read More
SEBI order in the case of circular trading and creation of artificial volume
Background The Securities and Exchange Board of India (hereinafter referred to as ˜SEBI™) conducted investigations into the alleged irregularity in the trading in the shares of Rich Universe Network Limited (hereinafter referred to as the Noticee No. 1) which was formerly known as Rich Capital & Financial Services Ltd., for the period from February 01,… Read More
Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer
Securities and Exchange Board of India (hereinafter referred to as ˜SEBI™) examined the Letter of offer document dated December 14, 2010 by M/s Ultraplus Housing Estate Pvt. Ltd (Acquirer), to the shareholders of M/s Associated Cereals Limited (Target Company) (hereinafter referred to as ACL). SEBI observed that Shri Bimal Kumar Agarwal (hereinafter referred to as the… Read More
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