Corporate Law Reporter - The Daily Journal

Central Govt. notifies that no deduction of tax shall be made for specified payments u/s 194J

[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 DIRECT TAXES) NOTIFICATION NO. 21/2012 [F.No.142/10/2012-SO (TPL)] S.O. 1323(E), DATED 13-6-2012 In exercise of the powers conferred by sub-section(1F) of section 197A of the Income-tax Act, 1961 (43 of… Read More

Supplementary Memorandum explaining the Official Amendments moved in the Finance Bill, 2012 as reflected in the Finance Act, 2012

Circular no. 3/2012, dated 12-6-2012 FINANCE ACT, 2012 - PROVISIONS RELATING TO DIRECT TAXES The Finance Bill, 2012 was introduced in Parliament on 16-3-2012. Certain official amendments have been carried out during the passage of the Bill in Parliament. A gist of the official amendments to the Finance Bill, 2012 as reflected in the Finance… Read More

Redressal of complaints against SEs & Depositories through SEBI Complaints Redress System

CIRCULAR CIR/MRD/ICC/16/2012 June 15, 2012 All Depositories; All recognized Stock Exchanges Sub: Redressal of complaints against Stock Exchanges (SEs) and Depositories through SEBI Complaints Redress System (SCORES). 1. As you are aware, SEBI has commenced processing of complaints through SCORES. 2. The complaints received by SEBI against SEs and Depositories shall be electronically sent through… Read More

Home Loans-Levy of fore-closure charges/ pre-payment penalty

RBI/2011-12/602 RPCD CO. RCBD. BC. No. 84 /03.03.01/2011-12 June 15, 2012 The Chairmen/Chief Executives of All State and Central Co-operative Banks Dear Sir Home Loans-Levy of fore-closure charges/ pre-payment penalty Please refer to our circular RPCD.CO.RCBD.BC.No. 48 /03.03.01/2010-11 dated January 20, 2011 on housing finance. 2. In this context, attention is invited to paragraphs 81… Read More

India- Brazil to strengthen cooperation in making drugs & medicines

Shri Anand Sharma, the Union Minister for Commerce, Industry and Textiles, led a delegation of officials, CEOs, FICCI (Federation of Indian Chambers of Commerce and Industry) leaders and pharmaceutical companies, in Sao Paulo from 13-14 June 2012. Shri Sharma participated in the pharmaceutical Round Table which covered a wide gamut of issues. Minister Sharma invited… Read More

E-Arbitration in India- Is it still far Behind?

The significant increase in the role of international trade in the economic development of nations over the last few decades has been accompanied by a considerable increase in the number of commercial disputes as well. In India too, rapid globalization of the economy and the resulting increase in competition has led to an increase in… Read More

CBDT clarifies w.r.t. TDS towards acquisition of software from a person other than the original developer

[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 DIRECT TAXES) NOTIFICATION NO. 21/2012 [F.No.142/10/2012-SO(TPL)] S.O. 1323(E), DATED 13-6-2012 In exercise of the powers conferred by sub-section(1F) of section 197A of the Income-tax Act, 1961 (43 of 1961),… Read More

SEBI-Establishment of Connectivity with both depositories NSDL and CDSL Companies eligible for shifting from Trade for Trade Settlement (TFTS) to normal Rolling Settlement

CIRCULAR CIR/MRD/DP/ 15 /2012 June 14, 2012 To, All Stock Exchanges Dear Sir / Madam, Sub: Establishment of Connectivity with both depositories NSDL and CDSL Companies eligible for shifting from Trade for Trade Settlement (TFTS) to normal Rolling Settlement 1. It is observed from the information provided by the depositories that the companies listed in… Read More

CBEC-Procedure followed for import of Indian vessels and filing of Import General Manifest, Bill of Entry

Circular No. 16 /2012-Customs F. No.450/79/2010-Cus.IV Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs ***** Room No.229 A, North Block New Delhi, dated 13th June, 2012 To, All Chief Commissioners of Customs / Customs (Prev.). All Chief Commissioners of Customs & Central Excise. All Director Generals / Chief Departmental… Read More

CBEC-Seeks to amend Notification 12/2012-Customs, dated 17-03-2012

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 39/2012-Customs G.S.R. (E). - In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do,… Read More

RBI-Policy Guidelines for issuance and operation of Prepaid Payment Instruments in India- Amendments

RBI/2011-12/601 DPSS.CO.PD. No. 2256 /02.14.006/ 2011-12 June 14, 2012 To All System Providers, System Participants and all other prospective prepaid payment instrument issuers Dear Sir, Policy Guidelines for issuance and operation of Prepaid Payment Instruments in India- Amendments A reference is invited to our circulars RBI / 2008-09 / 458 DPSS. CO. PD. No. 1873/02.14.06/2008-09 dated… Read More

ICAI- Commencement of Certificate Course on Forex and Treasury

Certificate Course on Forex and Treasury Management at Mumbai Centre starts on 07th July, 2012 and the venue is Hotel Mirador, New Link Road, Chakala, Andheri (East), Mumbai. Class Schedule & Timings Date Day 07th July,2012 Saturday (10 am. - 5 pm.) 08st July,2012 Sunday (10 am - 5 pm.) 21st July,2012 Saturday (10 am - 5… Read More

CCI penalizes CDAG in violation of the provisions of the Competition Act, 2002

The Competition Commission of India (CCI) has found Chemist & Druggist Association, Goa (CDAG) in violation of the provisions of the Competition Act, 2002 which deals with anticompetitive agreements. The Commission has imposed penalty of Rs. 2 Lakhs @10% on the average of the receipts for financial year 2008-09, & 2009-10 on CDAG. CCI has… Read More