"January, 2011" Archive

Recognition of permanent diminution in value of investments in banks’ subsidiaries/joint ventures

RBI/2010-11/395, DBOD. No. BP.BC.79/21.04.141/2010-11 (31/01/2011)

DBOD. No. BP.BC.79/21.04.141/2010-11 In terms of para 15 of Annexure to circular DBOD.No.BP.BC.32/21.04.048/2000-2001 dated October 16, 2000 on ‘Guidelines for Classification and Valuation of investments by Banks’, banks are required to recognise any diminution, other than temporary, in the value of their investments in subsidiaries/ ...

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Regarding Import of inputs under Advance Authorisation (AA) and Duty Free Import Authorisation (DFIA) issued SIONs E-1 & E-5

Pocliy Circular No.13 (31/01/2011)

Therefore, (i) import of Tapioca Starch and Wheat Gluten as alternative inputs against import item No. 1 of SION E-5 and, (ii) import of Lactose / Fructose / Maltose / Mannitol / Sodium Saccharin / Artificial Sweetening Agents, as alternative inputs against import items No. 2 of SION E-5 and import item No. 1(a) of SION E-1, is not to be ...

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Operators may miss unsolicited calls deadline

Mobile subscribers looking for respite from unsolicited calls may have to wait for some more time as operators are facing technical difficulties in implementing system mandated by TRAI to check pesky calls. With telemarketers mandated to use '700' se...

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Posted Under: Fema / RBI |

Black money – FinMin panel on voluntary compliance

(31/01/2011)

Amid the growing clamour to crack down on generation of black money, the Finance Ministry has instituted a study group to improve "voluntary compliance" by suggesting appropriate measures to motivate tax evaders to disclose their unaccounted funds. T...

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Posted Under: Fema / RBI |

India not to rush into allowing FDI in retail – Official

In a clear message to global retail giants like Walmart, Tesco and Carrfoure, the Indian government today said it will not rush into allowing FDI into politically sensitive multi-brand retail sector. "Until a decision is formally taken to allow fore...

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Posted Under: Fema / RBI |

CBI files case against Biotor Industries for fraud

The CBI has registered a case of cheating and fraud against directors of Biotor Industries, manufacturer of castor oil, for allegedly submitting forged documents to three banks and availing a loan of Rs1500 crore. The Banking and Securities Cell of C...

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Posted Under: Fema / RBI |

VAT Cir – 3T of 2011 – Extention of Due date for Filing Form 704 for FY 2009-10

Trade Circular No. 3 T of 2011 (31/01/2011)

The representations from various Trade and Association have been received with a request to extend the due date for submission of Audit Report in Form-704. The issue has been examined. Accordingly, it has been decided to extend the due date for submission of the Audit Report in Form 704 for the period 2009-10 from 31st January 2011 to 15t...

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Notification No. 7/2011 – Customs (N. T.) Specify tariff on Crude/CBD Palm Oil/Palmolein, Poppy seeds, Brass Scrap etc

Notification No. 07/2011-Customs (N.T.) (31/01/2011)

In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following further ...

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Maharastra Profession Tax – Mandatory e-return for PTRC Monthly filers

Notification No. PFT-1011/CR11/Taxation-3 (31/01/2011)

Maharastra Profession Tax - Mandatory e-return for PTRC Monthly filers Notification No - PFT-1011/CR11/Taxation-3 Mandatory e-return for PTRC Monthly filers ...

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Government of India issues revised guidelines on Conference Visa

The Indian immigration laws provide for grant of a special type of visa known as ‘conference visa’ to foreign nationals who intend to visit India for attending a conference, seminar or workshop. The Ministry of Home Affairs (‘MHA’), Government of In...

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Posted Under: Fema / RBI |
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