Current financial year shows rise in Tax collection
Gross direct tax collection during April-January of the current fiscal was up by 14.57 percent at Rs.4,25,274 crore as against Rs.3,71,188 crore in the same period last fiscal. While gross collection of corporate taxes was up 11.87 percent (Rs.2,85,837 crore against Rs.2,55,514 crore last year), gross collection of personal income tax was up by 20.43… Read More
Deregulation of Savings Bank Deposit Interest Rate Clarification
RBI/2011-12/391 UBD.BPD.(PCB) CIR No. 18 /13.01.000/2011-12 The Chief Executive Officers All Primary (Urban) Co-operative Banks Dear Sir/Madam, Deregulation of Savings Bank Deposit Interest Rate Clarification Please refer to our circular UBD.BPD.(PCB).CIR No.13/13.01.000/2011-12 dated November 25, 2011. 2. We clarify that the revised guidelines issued vide our circular referred to above would be applicable to domestic savings… Read More
Academy of Scientific and Innovative Research Bill, 2011 & Factoring Regulation Bill, 2011 published in Gazette of India
The Academy of Scientific and Innovative Research Bill, 2011, after having received the assent of the President on 6th February, 2012, has been published in the Gazette of India, Extraordinary, Part-II, Section-1, dated the 7th February, 2012 as Act No. 13 of 2012. Also, the Factoring Regulation Bill, 2011, which received the assent of the… Read More
ICAI- Oracle R12 Financial 7 days Course at Delhi from 27th Feb 2012
The Committee on Information Technology of the ICAI is organising 7 days course on Oracle R12 Financials at Delhi from 27th February 2012. The revised Oracle Financial Accounting Program would address the following topics. 1. Fundamentals of Oracle ERP R12 e-Business Suite 2. Security 3. General Ledger 4. Procure to Pay 5. Order to Cash… Read More
DGFT- Amendment in Appendix 30 A, relating to Export Obligation Period under Advance Authorization/DFIA Schemes
To be published in the Gazette of India Extraordinary Part-I, Section-I Government of India; Ministry of Commerce and Industry Department of Commerce; Directorate General of Foreign Trade Public Notice No. 96 (RE-2010)/2009-2014; Dated 7th February, 2012 Sub: Amendment in Appendix - 30 A relating to Export Obligation Period under Advance Authorization/DFIA Schemes. In exercise of powers conferred… Read More
India – Mauritius economic and commercial ties to be further strengthened
India and Mauritius have expressed satisfaction that their bilateral economic and commercial ties have shown a healthy upward trajectory. India has been the largest exporter of goods and services to Mauritius since 2007. Union Minister of Commerce Industry and Textiles Shri Anand Sharma told his Mauritius counterpart Mr. Sayyad Abd-Al-Cader Sayed-Hossen here today that our… Read More
SEBI (Buy-Back of Securities)(Amendment) Regulations-2012
THE GAZETTE OF INDIA EXTRAORDINARY PART III SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, FEBRUARY 07, 2012 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 7th February, 2012 SECURITIES AND EXCHANGE BOARD OF INDIA (BUY-BACK OF SECURITIES) (AMENDMENT) REGULATIONS, 2012. LAD-NRO/GN/2011-12/36/3187 - In exercise of powers conferred by sub-section (1) of section 30 of… Read More
Fin Min- Decline in GDP growth mainly due to slowdown in industrial growth
The Union Finance Minister Shri Pranab Mukherjee said that the main reason for decline in the GDP growth is slowdown in industrial growth, in particular in investment growth. The Finance Minister said that the negative growth in mining sector along with slowdown in construction sector has also contributed to the decline in GDP growth. The… Read More
Unclaimed Deposits/ Inoperative Accounts in Banks – Display list of Inoperative Accounts
RBI/2011-12/389 DBOD.No.Leg.BC. 81/09.07.005/2011-12 All Scheduled Commercial Banks (excluding RRBs) Dear Sir, Unclaimed Deposits/ Inoperative Accounts in Banks - Display list of Inoperative Accounts Please refer to our Circular DBOD.No.Leg.BC.34/09.07.005/2008-09 dated August 22, 2008, wherein detailed instructions have been given to banks on dealing with unclaimed deposits / inoperative accounts. They have been advised to find the… Read More
External Commercial Borrowings Simplification of procedure
RBI/2011-12/390 A.P. (DIR Series) Circular No. 75 To All Authorised Dealer Category- I Banks Madam / Sir, External Commercial Borrowings Simplification of procedure Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000, notified vide Notification No. FEMA 3/2000-RB dated May 3, 2000, A.P.… Read More
Speech by Finance Minister at the India Corporate and Investor Meet
I am very happy to be here today at the India Corporate and Investor Meet organized under the aegis of the Ministry of Corporate affairs headed by my colleague Dr. M Veerappa Moily. In the past, the Ministry has been organizing every year an India Corporate Week on several matters of topical interest. The Ministry… Read More
Guidelines for conversion of Cost Accountants™ firms (partnership/proprietary) into LLPs
In terms of Council decision dated 22nd January, 2012, the following guidelines for conversion of Cost Accountants firms into LLPs and constitution of separate LLPs by the practising Cost Accountants have been finalized. They are applicable for conversion of Cost Accountants™ firms into LLPs or formation of new LLPs, by the members in practice of… Read More
The 9th Central Sports Meet of the ESI Corporation inaugurated by Shri Ravi Mathur, Addl. Secretary, Ministry of Labour & Employment
The 9th Central Sports Meet of the ESI Corporation was inaugurated by Shri Ravi Mathur, Addl. Secretary, Ministry of Labour & Employment here today. Speaking on the occasion Shri Mathur said that the sportsmanship in the ESI Corporation encourages sports activities and the spirit of services amongst the staff and officers. About 600 participants from… Read More
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