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.In the Securities and Exchange Board of India (Venture Capital Funds) Regulations, 1996, in Second Schedule, in Part A, for the word and figure “Rs. 10,00,000”, the word and figure “Rs.5,00,000” shall be substituted.
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. 140 (RE-2007) /2004-2009 NEW DELHI, DATED THE 7th APRIL, 2008. In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2004-2009 and […]
Government of India Ministry of Finance (Department of Revenue) New Delhi, the 7th April, 2008 Notification No. 44/2008-Customs G.S.R– (E). -Whereas, the designated authority vide notification No. 15/1/2008-DGAD, dated the 19th March, 2008, published in Part I, Section 1 of the Gazette of India, Extraordinary, dated the 20th March, 2008, has initiated review, in terms […]
There appears to be uncertainty over the implementation of the Commodity Transaction Tax from April 1 with broking firms saying the exchanges have not notified them on the issue till late Monday evening. The Finance Minister, Mr P. Chidambaram, had announced in his Budget proposal that the levy would come into effect from April 1. Mr B.C. Khatua, Chairman, Forward Markets Commission, said Unlike the income tax, which comes into force from April 1, the commodity levy will be charged only when the Finance Bill is cleared by Parliament.
Changes in MVAT RETURN FILING – TL in Previous Year TR in previous Year Periodicity Form & Due Date Tax Liability (TL) Tax Refund (TR) 1) upto Rs. 1 lakh upto Rs. 10 Lacs Half Yearly 231/21 days 2) upto Rs. 10 lacs upto Rs. 1 crore Quarterly 231/21 days 3) More than 10 Lacs More Than Rs. 1 Crore Monthly 231/21 days
Investments overseas by an Indian company – Indian company” is defined to mean a company incorporated in India. It is permitted to undertake agricultural operations overseas including purchase of land incidental to such activity either directly or indirectly through its overseas offices vide Regulation 6A of FEM (Transfer or issue of any Foreign Security) (Amendment) Regulations 2004. An Indian company is not permitted to own or possess an agricultural land or carry out any agricultural activities in Karnataka as per the provisions of Section 79A and B of the Karnataka Land Reforms Act, 1961.
A writ, direction or order may be issued by the High Court under Article 226 to a person or authority amenable to the Court’s jurisdiction either by residence or location within the State, even if the petitioner and other parties are from other States. This power can be exercised, under Article 226(2) of the Constitution, though the person or authority is outside the territories in relation to which the High Court has jurisdiction, provided the cause of action arises, wholly or in part, within such territories.
Small-and medium-sized companies (SMCs) may soon have a `SARAL’ format for disclosing their financial statements. For ensuring better compliance by all categories of companies with disclosure norms prescribed under the company law, the Ministry for Corporate Affairs (MCA) had asked the Institute of Chartered Accountants of India (ICAI) to suggest a simpler format of financial statements especially for SMCs.
The Securities Transaction Tax (STT) was introduced into the income-tax code by the Finance (No. 2) Act, 2004, taking effect from April 1, 2005. It was expected to give a major boost to both the income-tax department in terms of revenue and the equity market. When STT was paid on share transactions, no liability for long-term capital gains tax arose. Short-term capital gains were taxed at 10 per cent if STT was paid. This was the position till March 31, 2008.
The Attestor attesting witness must sign the deed or document concerned in the presence of the Executant.One of the factors which is not considered to be important in the course of execution and registration of deeds is attestation of deeds. In respect of deeds which are being registered, many parties regard this as a formality. The general approach is that any person who can sign the deed as a witness is good enough to attest the deed. However, this is an important matter and is not to be treated casually. It is desirable to have an understanding of the issues concerned.
