India is drafting new rules to avail the services of private information technology (IT) firms for a range of government functions such as collecting taxes or issuing birth certificates, allowing transactions to be conducted electronically or through mobile phones, which are more pervasive in the country than computers.
The market regulator Sebi today said Permanent Account Number (PAN) is mandatory for transfer of shares to the heir in case the deceased shareholder was the sole owner of shares. “It is hereby clarified that it shall be mandatory to furnish a copy of PAN (on) transmission of shares to the legal heir(s), where the deceased shareholder was the sole holder of shares,” a Sebi circular said.
the dumping margins of the subject goods imported from the subject country are substantial and above de minimis; and the domestic industry has suffered material injury and the injury has been caused to the domestic industry, both by volume and price effect of dumped imports of the subject goods originating in or exported from the subject country;
The government will sift through the financial data filed by companies with the Registrar of Companies to get a better picture of their investments and expenditure, helping it get better inputs for key policy decisions such as tax incentives. Financial details submitted with the RoC will be aggregated under various parameters such as investments, deposits and trade debt, a government official told. The initiative is driven by the ministry of corporate affairs. The RoC has financial data of nearly 10 lakh companies stored in its database management system, MCA-21.
Prakash Sharma, a contestant from Jaipur, had approached the court against an order on postal ballots by T. Karthikeyan, secretary, ICAI. The Rajasthan high court has stayed the Institute of Chartered Accountants of India (ICAI) from declaring the results of the election to its apex council held on 4-5 December. The results were to be declared on 6th of January’10.
2. In continuation thereof, it has been decided to amend the Simplified Listing Agreement for Debt Securities as follows with immediate effect:(a) fter clause 5, the following proviso shall be inserted: Provided that this requirement shall not be applicable in case of unsecured debt instruments issued by regulated financial sector entities eligible for meeting capital requirements as specified by respective regulators.
In the run-up to Budget 2010-11, the Finance Ministry is mulling a reduction in the number of personal income tax rates from the current three to two. At present, there are three rates – 10, 20 and 30 per cent – and these are applied on slabs that are specified from year to year as part of the Budget.
After some time I learnt that he got in a position where he is in a position to bankrupt. On further query I came to know the whole story of his loud voice of animal growling. He was into real estate business and he took two projects where construction was going and had taken a loan from around Rs.5cr and all his money is invested in construction and he is not getting any buyers for his residential flats. He also needed some more funds for the pending works and banks are reluctant to lend further at the same time his flats were not getting sold. He was in a terrible situation at that point of time. I finish the story here without going into further details.
For the Advance Authorisation (erstwhile licences) where raw sugar has been imported between 21.09.04 and 15.4.08, but the export obligation is yet to be fulfilled, the export obligation period stands automatically extended upto 31.03.2011 without payment of composition fee. Advance licence / authorisation holder has the option to pay the customs duty as applicable, on the date of import for the quantity of import proportionate to unfulfilled E.O. and get the case regularized accordingly.
In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy 2009-2014, the Director General of Foreign Trade hereby makes the following amendment in Appendix 1 (List of Regional Authorities and their Jurisdiction) of the Handbook of Procedure (Vol. I) 2009-2014: S. No. 19 of Appendix 1 is amended to read as under:
