Fin Min says sound policies, good governance & effective implementation would enable to overcome the challenges faced by our economy
The Union Finance Minister, Shri P. Chidambaram has said that uppermost in his mind is the duty to re-gain the confidence of all stakeholders. Assuring that inflation can be moderated in the medium term, he said that the Government will work with RBI in this regard. In a statement, the Finance Minister said that a… Read More
Direct Entry to Chartered Accountancy
COURSE AMENDMENTS TO THE CHARTERED ACCOUNTANTS REGULATIONS, 1988 This is to inform all concerned that with the issuance of the Notification No. 1-CA(7)/145/2012 on August 1, 2012, the provisions relating to Direct Entry Scheme for Graduates/Post Graduates, etc., with prescribed percentage of marks, to the Chartered Accountancy Course have come into force from August 1,… Read More
Expenses incurred for providing freebies to Medical Practitioner by Pharma Companies shall be disallowed
CIRCULAR NO. 5/2012 [F. NO. 225/142/2012-ITA.II], DATED 1-8-2012 It has been brought to the notice of the Board that some pharmaceutical and allied health sector Industries are providing freebees (freebies) to medical practitioners and their professional associations in violation of the regulations issued by Medical Council of India (the 'Council') which is a regulatory body… Read More
Relaxation from compulsory e-filing of return of income for assessment year 2012-13 – for representative assessees of non-residents and in the case of private discretionary trusts
Circular No. 6/2012 F.No.133/44/2012-SO (TPL) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ***** New Delhi, the 3rd August, 2012 Subject: Relaxation from compulsory e-filing of return of income for assessment year 2012-13 - for representative assessees of non-residents and in the case of private discretionary trusts regarding. Rule 12… Read More
Common Account Code to be used for Service Tax Payment from July 2012 onwards- CBEC
Circular No.161/12/2012 -ST F.No.341/21/2012-TRU Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs Tax Research Unit 153, North Block, New Delhi, 6th July, 2012 To Chief Commissioners of Customs and Central Excise (All), Chief Commissioners of Central Excise & Service Tax (All), Director General (Service Tax), Director General(Systems), Director General (Central… Read More
Compounding of Contraventions under FEMA, 1999
RBI/2012-13/153 A.P. (DIR Series) Circular No.11 July 31, 2012 To All Category - I Authorised Dealer Banks Madam / Sir, Foreign Exchange Management Act, 1999 (FEMA)- Compounding of Contraventions under FEMA, 1999 Attention of all the Authorised Dealer Category - I (AD Category - I) banks and their constituents is invited to A.P. (DIR Series)… Read More
Fees on Form 23B has further deferred for one week becomes applicable from 12th August, 2012
General Circular No. 22/2012 F.No. 17/187/2011 - CL.V ; Government of India; Ministry of Corporate Affairs; Dated the 3rd Aug, 2012 To All Regional Directors, All Registrar of Companies, All Stakeholders. Sub : Imposing fees on certain e-forms filed with ROC, RD or MCA(HQ) under MCA-21 where at present no fee is prescribed. Sir, I am… Read More
Non- XBRL Companies to file 23AC & 23ACA upto 15th Sept or within 30 days of the AGM
General Circular No 21/2012 File No. 17/160/2012-CL-V; Government of India; Ministry of Corporate Affairs; Dated02/08/2012 All the Regional Directors, All the Registrar of Companies Sub: Filling of Balance Sheet and Profit and Loss Account by Companies in Non- XBRL for accounting year commencing on or after 01.04.2011. Notification no. S.O-447 (E) dated 28.02.2011 on revised schedule VI is… Read More
Activation of ISIN in case of additional issue of shares/ securities
CIRCULAR CIR/MRD/DP/ 21 /2012 August 02, 2012 To, The Depositories, The Stock Exchanges Dear Sir, Subject: Activation of ISIN in case of additional issue of shares/ securities 1. Please refer to SEBI circular No SEBI/MRD/DEP/Cir-2/06 dated January 19, 2006. 2. In addition to the above circular, it has now been decided that in case of… Read More
˜Non Banking Financial Company-Micro Finance Institutions™ Directions Modifications
RBI/2012-13/161 DNBS (PD) CC.No.300 /03.10.038/2012-13 August 03 , 2012 All NBFCs Dear Sir, ˜Non Banking Financial Company-Micro Finance Institutions™ (NBFC-MFIs) Directions Modifications Please refer to the Directions issued vide RBI(PD)CC.250 dated December 02, 2011 wherein a new category of NBFCs, viz., Non Banking Financial Company-Micro Finance Institution (NBFC-MFI) was created along with a regulatory framework… Read More
Relaxation in Branch Licensing Policy – Tier 2 Centres
RBI/2011-12/158 RPCD.CO.RRB.BL.BC.No. 19/03.05.90/2011-12 August 1, 2012 All Regional Rural Banks Dear Sir, Relaxation in Branch Licensing Policy - Tier 2 Centres Please refer to our circular RPCD.CO.RRB.BC.No.28/03.05.90-A/2011-12 dated November 18, 2010, permitting Regional Rural Banks (RRBs) to open branches in Tier 3 to Tier 6 centres (with population up to 49,999 as per Census 2001),… Read More
CBEC determines the rate of exchange of conversion relating to imported and export goods
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, PART-II, SECTION 3, SUB-SECTION (ii), EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF EXCISE AND CUSTOMS Notification No.67/2012-Customs (N.T.) DATED THE 1st August, 2012 S.O. (E). In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of… Read More
Simplification of the Procedure for Branch Licensing
RBI/2011-12/157 RPCD.CO.RRB.BL.BC.No.18 /03.05.90/2011-12 August 1, 2012 All Regional Rural Banks Dear Sir, Simplification of the Procedure for Branch Licensing Please refer to our circular RPCD.CO.RRB.BL.BC.No.90/03.05.90-A/2011-12 dated June 13, 2006, liberalising and simplifying the procedure for opening, shifting or merger of branches. 2. As per extant general policy on branch licensing the applications for opening, shifting,… Read More
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