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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.
Guidelines on Advanced Measurement Approach (AMA) for computation of Operational Risk under BASEL II norms
Implementation of the Advanced Measurement Approach (AMA) for Calculation of Capital Charge for Operational Risk RBI/2010-11/488 DBOD.No.BP.BC. 88 /21.06.014/2010-11 The Chairman and Managing Directors / Chief Executive Officers of All Commercial Banks (Excluding Regional Rural Banks and Local Area Banks) Dear Sir, Implementation of the Advanced Measurement Approach (AMA) for Calculation of Capital Charge… Read More
CBDT notifies revised procedure for refund of excess amount of TDS deducted/paid
CIRCULAR NO. 2/2011 [F.NO. 385/25/2010-IT(B)] The procedure for regulating refund of amount paid by the deductor in excess of the tax deducted at source (TDS) and/or deductible is governed by Board circular No. 285, dated 21-10-1980. 2. Subsequent to issue of circular No. 285, new sections have been inserted under Chapter XVII-B of the Income-tax… Read More
CBEC Notifies Exchange Rate for May 2011
Notification No.32/2011 - Customs (N.T.) GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF EXCISE AND CUSTOMS 7 Vaisakha, 1933(SAKA) S.O. (E). In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Government of India in the Ministry… Read More
Amendment in the rate of Service Tax on Life Insurance Business
Notification No.35/2011 Service Tax Government of India Ministry of Finance (Department of Revenue) New Delhi, the 25th April, 2011 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) read with sub-section (2) of section 94 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the said Act), the Central Government… Read More
Exemption from Service tax on Hotels, Inn, guest house etc. in specified cases
The Ministry has exempted the levy of service tax applicable with respect to services provided or to be provided, to any person, by a hotel, inn, guest house, club or campsite etc. in relation to providing of accommodation for a continuous period of less than three months, where the declared tariff for providing of such accommodation is… Read More
Rate of Abatement of Service Tax on Services provided by Hotels or Restaurants
Vide the below notification, the rate of abatement of Service Tax has been prescribed by the Ministry for the following Services : 1) Services provided by a restaurant having the facility of air-conditioning and having licence to serve alcoholic beverages, in relation to serving of food or beverage, including alcoholic beverages or both, in its premises… Read More
Exemption from Service Tax on Coaching and Training services
Notification No.33/2011 Service Tax [F. No. 334/3/ 2011 TRU] Government of India Ministry of Finance (Department of Revenue) New Delhi, the 25th April, 2011 G.S.R. (E) - In exercise of the power conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government on being satisfied that it… Read More
Exemption from Service Tax granted to Hospitals, Nursing Homes etc.
Taxable Services provided or to be provided by any Hospital, Nursing Home, or Multi-specialty Clinic to an employee of a business entity or any person covered by Health Insurance Scheme has been exempted vide below Notification. Notification No. 30/2011 Service Tax [F. No. 334/3/ 2011 TRU] Government of India Ministry of Finance (Department of… Read More
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