Stopping of Form I- Cost Audit Report and Form A- Compliance Report
It has been decided by the Ministry of Corporate Affairs to mandate the cost auditors and the companies to file Cost Audit Reports (Form-I) and Compliance Reports (Form-A) for the year 2011-12 onwards (including the overdue reports relating to any previous year) in XBRL mode. Therefore, filing of existing Form I- Cost Audit Report and… Read More
LLP integration into the MCA system
The Ministry is in process of integration of LLP system into MCA-21 in the month of June 2012 by allowing filing & approval of LLP forms at MCA-21 website (www.mca.gov.in) for better e-governance facility for stakeholders, by making necessary changes in e-forms. On post integration, old e-forms of the existing LLP system lying in Pending… Read More
Form 5- INV for transfer of funds to Investor Education and Protection Fund
Investor Education and Protection Fund (Uploading of information regarding unpaid and unclaimed amounts lying with companies) Rules, 2012, has mandated every company to file eForm 5INV containing the information of unclaimed and unpaid amounts as referred to in subsection (2) of section 205C of the Companies Act, 1956. This information is required to be filed… Read More
Explanatory notes to the provisions of the Finance Act, 2011 – Circular No. 2 dt. 22-05-2012 – CBDT
Finance Act, 2011 - Explanatory notes to the provisions of the Finance Act, 2011 Circular No. 02/2012 [F. No.142/01/2012-SO(TPL)], dated 22-5-2012 Explanatory notes to the provisions of the Finance Act, 2011 Amendments at a Glance Section/Schedule Particulars/Paragraph number Finance Act, 2011 First Schedule Rate Structure, 3.1 - 3.3.6 Income-tax Act, 1961 2(15) Definition of "charitable… Read More
SC to examine whether man made laws can regulate waqf properties
The Supreme Court has decided to examine an important issue raised by both Shia and Sunni sects of Islam whether Waqf properties can be regulated by man-made laws or the laws made by the State. A bench comprising Justices Altamas Kabir and J Chelameswar on Friday last week issued notices to Maharashtra government. The petitioners… Read More
Lawyers across the Country to oppose the Higher Education and Research Bill 2011
Bar Council of India has strongly condemned the government's stand on the Higher Education and Research Bill 2011 (HER Bill 2011) and has decided to oppose the same till the HRD Ministry does not exclude 'the legal education' and the 'Advocates Act, 1961' from the purview of all these anti people Bills. In a joint… Read More
Petrol prices up by Rs 7.50/ litre, Diesel untouched
In one swift move, state-owned oil firms IOC , BPCL and HPCL hiked petrol price by Rs 6.28 per litre, effective midnight. Including sales tax, the hike adds up to Rs 7.50/litre. The increase was on the cards with the rupee continuing its free fall against the US dollar, but the quantum of the hike took the country by surprise. However,… Read More
Clarification regarding classification of Structural Components of Boiler and Admissibility of CENVAT Credit
Circular No 966/09/ 2012-CX F No 84/1/2011-CX.1 Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs New Delhi the 18th May 2012 To All Chief Commissioner of Central Excise and Customs All Chief Commissioner of Central Excise All Director Generals Sir/ Madam Sub: Clarification regarding classification of… Read More
Japanese Yen Exchange Rate – Customs Notification No. 44/2012
[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) Notification No. 44/2012-Customs (N.T.) Dated the 21st May, 2012 31 Vaisakha, 1934 (SAKA) S. O¦. (E). In exercise of the powers conferred by Section 14 of the Customs… Read More
Integration of LLP System into MCA-21 shall be effective from June 2012
The Ministry is in process of integration of LLP system into MCA-21 in the month of June 2012 by allowing filing & approval of LLP forms at MCA-21 website (www.mca.gov.in) by making necessary changes in e-forms for better e-governance facility for stakeholders . After the integration, LLPs will be filing forms at MCA-21 website (www.mca.gov.in/MCA21). As… Read More
Revised Guidelines for declaring a Public Financial Institution – MCA
General Circular No. 10/2012, Dated the 21st May, 2012 F. No. 3/2/2011-CL V To All Regional Directors All Registrar of Companies Subject: Guidelines for declaring a financial Institution as Public Financial Institution under section 4A of the Companies Act, 1956 Section 4A of the Companies Act, 1956 was inserted by the Companies (Amendment) Act, 1974… Read More
Form 8, 10 and 17 can be filed even for Defaulting Companies
F.No.17/146/2011-CLV General Circular No.09/2012 Government of India Ministry of Corporate Affairs 5th Floor, Shastri Bhavan, Dr. R.P. Road, New Delhi-110001. Dated: 15th May 2012 To All Regional Directors, All Registrar of Companies, Subject: Compliance of the provisions of Companies Act, 1956 and the Rules made there under. Sir, The Ministry had issued general circular no.… Read More
Cross Border Investments – Regulatory & Tax Imperatives
I would like to take this opportunity to inform and invite you to our upcoming Business Program Cross Border Investments- Evolving Regulatory and Tax Imperatives with our Knowledge Partner Mohinder Puri & Co., Solicitors and Advocates, scheduled in New Delhi on 25th May at Hotel Crowne Plaza. This year marks the twenty first anniversary of the… Read More
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