Legal Updates - Corporate Law Reporter

RBI has imposed penalty of 30 million on UBI for not complying with KYC norms

Reserve Bank of India The Reserve Bank of India (RBI) has imposed, on July 26, 2017, a monetary penalty of ₹ 20 million on Union Bank of India for non-compliance with the directions issued by RBI on Know Your Customer (KYC) norms. This penalty has been imposed in exercise of powers vested in RBI under… Read More

MoF takes initiatives for north eastern states in the area of Public Expenditure Managment

Department of Expenditure takes various initiatives in the North Eastern States in the area of Public Expenditure Management; IT system of all the North East States' Treasuries except Nagaland integrated with PFMS; Trainings organized for capacity building by the Central Project Management Unit (CPMU) of PFMS and different Ministers/Departments of Government of India in North… Read More

SEBI Launches online filing system for Alternative Investment Funds

SECURITIES EXCHANGE BOARD OF INDIA CIRCULAR SEBI/HO/IMD/DF1/CIR/P/2017/87 July 31, 2017 All Registered Alternative Investment Funds All custodians of Category III Alternative Investment Funds Dear Sir/Madam, Sub: Online Filing System for Alternative Investment Funds. 1. In a constant endeavor to facilitate ease of operations in terms of applying for registration, reporting and various compliances… Read More

CBEC Fixes tariff value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION-3, SUBSECTION (ii)] Government of India Ministry of Finance (Department of Revenue) (Central Board of Excise and Customs) Notification No. 74/2017-CUSTOMS (N.T.) New Delhi, 31st July, 2017 9 Shravana, 1939 (SAKA) S.O. … (E).– In exercise of the powers conferred by sub-section (2) of section… Read More

Director General of Revenue appoints adjudicating authority under Customs Act

[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) Central Board of Excise and Customs Directorate of Revenue Intelligence Notification No. 6/2017-Customs (N.T./CAA/DRI) New Delhi, dated the 31st July, 2017 S.O. (E). - In pursuance of notification No. 60/2015-Customs (N.T.), published… Read More

Clarification regarding unskilled/semiskilled workers under PMRPY Scheme :EPFO

Employees' Provident Fund Organisation (Ministry of Labour, Govt. Of India) Bhavishya Nidhi Bhawan, 14- Bhikaiji Cama Place, New Delhi - 110066 www.epfindia.gov.in/www.epfindia.nic.in (CENTRAL ANALYSIS & INTELLIGENCE UNIT) No.CAIU/11(71)2017/MOT/706 Date: 31/07/2017 To All ACCs Zones All RPFC-I/RPFC-11 (lncharge of Regional Offices). Sub: - Clarification regarding unskilled/semiskilled workers under PMRPY Scheme - reg. Sir, Please refer to… Read More

DGFT amends MOU between India and bangladesh

To be published in The Gazette of India Extraordinary (Part-I, Section-I) Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Public Notice No) 14/ 2015-2020 Dated the31 July, 2017 Subject: Trade in Border Haats across the border between Bangladesh and India. In exercise of powers conferred under paragraph… Read More

CBDT Extends date for filing of Income Tax Returns upto 5th August 2017

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 31st July, 2017 PRESS RELEASE Extension of date for filing of Income Tax Returns There are some complaints that the taxpayers are not being able to log on to the e-filing website of Income Tax Department or not being… Read More

GOI signed convention on Mutual Administrative Assistance in Tax matters

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 28th July, 2017 (INCOME TAX) S.O. 2382(E).—Whereas a Multilateral Competent Authority Agreement on the Exchange of Country-byCountry Reports was entered into by the Government of the Republic of India, being a party to the Convention on Mutual Administrative Assistance in Tax Matters, that was signed… Read More

MoL&E issues corrigendum to NOT. No. 4108(E)

MINISRY OF LABOUR AND EMPLOYMENT CORRIGENDUM New Delhi, the 25th July, 2017 S.O. 2407 (E).—In this Ministry notification of even dated 21.12.2016 [S.O. No. 4108(E)], published in the Gazette of India No. 3002, Part-II, Section-3, Sub-Sec.(ii) dated 21.12.2016 at page No. 4, in Sl. No. 8, “Deputy Director or Assistant Director, Employees State Insurance Corporation,… Read More

UIDAI amends Aadhaar enrolment and update Regulation 2017

UNIQUE IDENTIFICATION AUTHORITY OF INDIA 'NOTIFICATION New Delhi, the 31st July, 2017 AADHAAR (ENROLMENT AND UPDATE) (FOURTH AMENDMENT) REGULATIONS, 2017 (No. 5 of 2017) No. 13012/79/2017/Legal-UIDAI (No. 5 of 2017).—In exercise of the powers conferred by sub-section (1) and sub-clause (n) and (s) of sub-section (2) of Section 54 of the Aadhaar (Targeted Delivery of… Read More

EPFO to take action against establishments defaulting PF contribution

Reduction in PF contribution With a view to bring contribution under Employees’ Provident Funds and Miscellaneous Provisions (EPF & MP) Act, 1952 to be paid by employer and employee at par with other savings instruments like the National Pension System, Contributory Provident Fund etc., an agenda item for lowering the rate of contribution from the… Read More

EPFO launches Software for generation of Certificate of Coverage

Employment Provident Fund Organization Ministry of Labour and Employment, Government of India Head Office Bhavishya Nidhi Bhawan, 14 , Bhikhaji Cama palace New Delhi-110066 File No. IWU/7(31) Application for COC … Read More