DA and DR released to Central Govt. employees & Pensioners
Release of additional installment of Dearness Allowance to central government employees and Dearness Relief to pensioners, due from 1.1.2013 The Union Cabinet today gave its approval to release an additional instalment of Dearness Allowance (DA) to central government employees and Dearness Relief (DR) to pensioners with effect from 01.01.2013 at the rate of 8 percent over the… Read More
CLR Snippets :: Extension of Walmart inquiry
Extension of term of the One-man Committee to inquire into media reports concerning Walmart from 1.5.2013 to 31.05.2013 The Union Cabinet today gave its approval for one month extension of the tenure of the one man Committee under Mr. Justice Mukal Mudgal, former Chief Justice of Punjab and Haryana Court i.e. from 01.05.2013 to 31.05.2013.… Read More
Survey on International Trade in Banking Services: 2011-12
The Reserve Bank of India today released, on its website, the data related to the results of Survey on International Trade in Banking Services: 2011-12. The data compiled are based on an annual survey which is intended to provide information on International trade in banking services (ITBS) for India in respect of the branches/subsidiaries of Indian banks… Read More
IMF Conference on Rethinking Macro Policy II
Remarks by Dr. Duvvuri Subbarao, Governor, Reserve Bank of India at IMF Conference on Rethinking Macro Policy II, Washington DC, on April 17, 2013 Session VI: Capital Account Management Three sub-topics (i) Capital controls (ii) Reserves (iii) International provision of liquidity I. Capital Account Management Intellectual Shift on Capital Controls The change in our world… Read More
Seminar on Strengthening IMF Surveillance
Talking Points of Dr. Duvvuri Subbarao, Governor, Reserve Bank of India at Seminar on Strengthening IMF Surveillance IMF Spring Meetings, Washington DC, on April 16, 2013 Question 1: Over the next three to five years, what do you see as the critical issues for IMF Surveillance? Response There are several critical issues for IMF Surveillance… Read More
Anti Money Laundering Standards as per Financial Action Task Force
RBI/2012-13/478 DNBS(PD).CC.No 323/03.10.42/2012-13 April 18, 2013 All Non Banking Financial Companies excluding Residuary Non Banking Companies Dear Sir/Madam, Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) - Standards Please refer to DNBS (PD).CC.No.319/03.10.42/ 2012-13 dated December 28, 2012 on risks arising from the deficiencies in AML/CFT regime of certain jurisdictions. 2. Financial Action Task Force… Read More
CLR Urgent :: ASSOCHAM National Seminar on “Corporate Compliance Management – A Paradigm Shift” on 1st May 2013
National Seminar Corporate Compliance Management -A Paradigm Shift- Wednesday, 1 May, 2013 Hotel Royal Plaza, New Delhi Indian economy is witnessing a new regime of reforms which will enthuse confidence for enhanced growth in the economy. With Indian business globalizing, the phenomenon of governance needs support of a robust Compliance Management. In the… Read More
Rights and Privileges of Holder in Due Course
HOLDER IN DUE COURSE AND RIGHTS AND PRIVIELEGES PROVIDED TO HOLDER IN DUE COURSE UNDER NEGOTIABLE INSTRUMENTS ACT (INDIA) HOLDER IN DUE COURSE The phrase ˜Holder in Due Course™ shortens considerable the cumbrous English equivalent ˜bona fide holder for value without notice™; and both the Indian and English Acts have adopted this phrase. Sec. 9… Read More
Special Bench verdict in Sec 40(a)(ia) TDS case of Merilyn Shipping considered as bad law
CLR Editorial Note: The assessee had incurred an expenditure of about Rs. 31 lakhs on freight but had not deducted TDS as per section 194C of the IT Act. The Assessing Officer hence held that there was a failure to deduct TDS, hence the expenditure could not be allowed as per deduction under section 40(a)(ia).… Read More
Return scrutiny documents done by the IT department must be made public
CLR Editorial Note: The Petitioner in this case, was an advocate, who had filed an application with the CBDT under Section 6 of the Right to Information Act, 2005 thus seeking information pertaining to cases which were as such excluded from scrutiny, and where the disclosure was made during survey. He also sought information qua… Read More
MoD Speak :: Government Committed to Modernisation of IAF
The Defence Minister Shri AK Antony today said the Government remains committed to the modernisation of Indian Air Force. Inaugurating the Air Force Commanders` Conference here, Shri Antony said the Long Term Infrastructure Prospective Plan (LTIPP) clearly lays down the roadmap for the accretion plan of the IAF. "The procurement and acquisitions span the entire… Read More
Delhi Govt Approach to 12th Five Year Plan (2012-17)
Foreword 1. The Govt. of NCT of Delhi (GNCTD) initiated the process to prepare the Framework of Development Planning for the 12th Five Year Plan (2012-17) of the National Capital Territory of Delhi in March 2011. We decided that 12th Five Year Plan (2012-17) of Delhi shall be formulated within the Framework and Approach prepared in consultation with… Read More
CLR Urgent :: No Security required for dealers applying for registration online before 30th June 2013
(TO BE PUBLISHED IN PART IV OF THE DELHI GAZETTE EXTRAORDINARY) GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI DEPARTMENT OF TRADE AND TAXES VYAPAR BHAWAN, I.P. ESTATE, NEW DELHI-110 002 No.F.7(453)/Policy/VAT/2013/Pt.II/88-98 Dated : 16.04.2013 NOTIFICATION I, Prashant Goyal, Commissioner, Value Added Tax, Delhi, in exercise of the powers conferred on me by sub-section (1) of section… Read More
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