Instances have been observed where NBFCs have made overseas investments without regulatory clearance of the Department of Non-Banking Supervision, Reserve Bank of India. Any investments made by NBFCs without regulatory clearance is a violation of FEMA 2004 and attracts penal provisions.
In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-14, the Director General of Foreign Trade hereby makes the following amendments in the Handbook of Procedures (Vol.1), 2009-14 Copper Anode / Copper Cathode / Copper Wire Rods (Manufactured from Copper concentrate) Minimum value addition – 8%
Multipurpose Empanelment Form for the year 2010-11 is an on line application instead of offline application Members can fill up the application form directly in the site it self and Upload it. Members can view the Application and can Edit the Application in different stages.
Based upon the insurance related data as of year ending March 31, 2010 and related discussions, the Authority issues the following clarifications in continuation of the ULIP guidelines “Guidelines on Unit Linked Products” issued vide Circular No. 032/IRDA/Actl/Dec-2005 dated 21.12.2005:
This Act may be called the Company Secretaries (Amendment) Act, 2010. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.
The proviso to s. 112(1) provides that “where the tax payable in respect of any income arising from the transfer of a long-term capital asset, being listed securities … exceeds ten per cent of the amount of capital gains before giving effect to the provisions of the second proviso to section 48 (i.e. indexation), then, such excess shall be ignored for the purpose of computing the tax payable by the assessee“.
Under section 51 of PVAT Act 2005 information collection centers have been established by the Punjab Government at various places with a view to prevent and check the evasion and avoidance of tax under PVAT Act. Section 51(1) of PVAT Act authorizes the state government to establish such information collection centre or check posts by notification.
Days after the Income Tax raid, service tax department sleuths of the West Bengal government Friday swooped down on the Eden Gardens to check papers relating to the alleged financial wrongdoings related to the Indian Premier League.
‘Success is a journey, not a destination,’ so goes the saying which is true for our profession too. We should not rest with success but instead should sustain it as a continuous journey to ultimate excellence – season after season. April and May are the months of hectic and breathless activity in a chartered accountant’s office, with the March year end closing of the financial statements and the pressures from all the clients,
Need for Compliance Management Secretarial Audit is compliance audit; it is a part of total compliance management in an organisation. The Secretarial Audit is an effective tool for corporate compliance management. It helps ensure timely corrective measures when non-compliance is detected.
