It cannot be accepted for EO fulfillment against the authorization obtained by the Yarn Supplier unless supplies are covered under Chapter 8 of FTP/HBP.Vol.I as the linkage of supplies to garment manufacturer cannot be established otherwise.
General Provisions (including that for Standard Assets) and loss reserves to the extent these are not attributable to actual diminution in value or identifiable potential loss in any specific asset and are available to meet unexpected losses, to the extent of one and one fourth percent of risk weighted assets.
The Reserve Bank of India (RBI) chief said on Monday the country is facing surging inflation and it needs to calibrate monetary policy in order to manage inflation and also support growth. The RBI will hold its quarterly monetary policy review on Jan
Section 43B opens with a non obstante clause which means that it controls the operation of other provisions of the Income-tax Act in that section 43B will have overriding effect notwithstanding other provisions under which a deduction may otherwise be allowable.
The demand for a ban on fake non-governmental organisations and a tax regime to identify them in the forthcoming Budget have come from none other than the NGOs themselves. In a pre-budget interactions with Finance Minister Pranab Mukherjee, NGOs plea
Section 397/398 of the Companies Act, 1956 provides a relief to the minority against the majority if the majority indulges in the oppressive acts and the acts of mismanagement. It is not that every shareholder can avail the remedy available under section 397/398 of Companies Act, 1956 and section 399 specifically deals with the issue as qualification to file a petition under section 397/398 of the Act. Section 399 of the Companies Act, 1956 substantially provides as follows:
The Ministry of Youth Affairs and Sports has informed that the Board of Control for Cricket in India (BCCI) has not complied with the mandatory requirements of submitting the necessary documents to the Government of India for annual recognition as a National
With an aim to increase retail investors’ participation in stock market, Sebi is considering higher allocation of public offer shares for mutual funds. Initial and follow-on public offers have traditionally been a preferred route of stock market inve
Those looking for income-tax relief in the forthcoming Budget to fight rising food prices are likely to be disappointed. According to a senior finance ministry official, the Direct Taxes Code (DTC) has to be implemented next year and considering DTC is a composite plan, it will not be a good idea to implement it in bits and pieces.
To give some relief to common man battling rising prices, finance minister Pranab Mukherjee is expected to raise the exemption limit on annual savings of an individual in the upcoming Budget. The savings exemptions may be raised in the Union Budget
