"02 June 2011" Archive - Page 2

Sensitivity of Capital Flows to Interest Rate Differentials – An Empirical Assessment for India

This study provides empirical evidence of sensitivity of capital inflows to interest rate differential in the India specific context. Using both causality and cointegration analyses, this study suggests that FDI and FII equity flows, which together on a net basis accounted for around three fourth of the total net capital inflows during th...

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Posted Under: Fema / RBI |

Talent Acquisition and Management – Key Note Address by Dr K C Chakrabarty, DG, RBI

What is talent? We must define talent. We say that Lata Mangeshkar is a very talented singer or Sachin Tendulkar is a very talented player. No, I withdraw, they are like gods. Let me choose another example. It is common to say that Shreya Ghoshal is a talented singer or Gautam Gambhir is a very talented player. Do we also say that I have ...

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Posted Under: Fema / RBI |

Companies Director Identification Number (Second Amendment) Rules, 2011

Notification No. G.S.R. 427(E) 02/06/2011

These rules may be called the Companies Director Identification Number (Second Amendment) Rules, 2011. (2) They shall come into force with effect from 12th June, 2011. 2. In rule 3,‑ (i) In sub-rule (3), para (b), the word 'can' after the words 'the form', shall be substituted by the word 'shall': (ii) In sub-rule (3), para (b), the...

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MODIFICATION OF SION C-593 under Engineering Product Group – Public Notice No. 51 /(RE-2010)2009-2014

Public Notice No. 51/(RE-2010)2009-2014 02/06/2011

Under SION C-593, till now only HR coil/plates made of non-alloy steel were permitted input at Sl No. 1 of the SION. Now the definition of this input is modified to permit HR coil/plates made out of Alloy steel also. Description of export product has accordingly been amended to reflect the usage of Non alloy/alloy steel in the export p...

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Principal Bench of the Central Administrative Tribunal (CAT) to Remain Closed from 6 to 30 June 2011

The Principal Bench of the Central Administrative Tribunal at New Delhi will remain closed from 6 June 2011 to 30 June 2011, on account of Summer Vacation. During this period, a Vacation Bench will sit on Tuesdays and Fridays to hear and dispose urgent matters and matters that the Bench may direct. ...

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Posted Under: Fema / RBI |

Transfer Pricing – Transactional Net Margin Method (TNMM) At Enterprise Level Invalid

Symantec software Solutions Pvt Ltd Vs. ACIT (ITAT Mumbai)

Symantec software Solutions Pvt Ltd vs. ACIT (ITAT Mumbai)- The Mumbai bench of the Income Tax Appellate Tribunal (Tribunal) recently pronounced its ruling in the case of Symantec Software Solutions Private Limited, Mumbai (Taxpayer), on transfer pricing issues arising from provision of marketing support and consulting services by the Tax...

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RBI circular on Financing of Self Help Groups (SHGs) and Joint Liability Groups (JLGs) by Primary (Urban) Co-operative Banks (UCBs)

RBI/2010-11/556 UBD.BPD.(PCB)CIR No. 50/13.05.000(B)/2010-11 02/06/2011

UBD.BPD.(PCB)CIR No. 50/13.05.000(B)/2010-11 As announced in the Monetary Policy 2011-12 [para 100 - appended], with a view to further expanding the outreach of UCBs and opening an additional channel for promoting financial inclusion, it has been decided to allow UCBs to lend to Self Help Groups (SHGs) and Joint Liability Groups (JLGs). ...

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Challenges to Central Banking in the Context of Financial Crisis RBI releases Volume for the First International Research Conference

National policies alone cannot prevent a crisis even if these are the most appropriate unless some of the global challenges are addressed collectively at the global level. The international monetary system has been found inadequate to tackle global imbalances, which had to manifest in the form of crisis or the other at some stage. The sig...

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Posted Under: Fema / RBI |

First Installment of Advance tax for corporate Assesses due on 15th June 2012

The first installment of advance tax for the financial year 2012-13 is due this month. The deadline for payment of this installment of the advance tax is Tuesday 15th. According to the Income Tax Act, assessees are required to pay tax in advance in a previous year if their tax liability for the year is likely to be Rs 10,000 or more. ...

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Posted Under: Fema / RBI |

MAT credit to be first adjusted and then TDS and prepaid taxes should be set off against the total tax liability and the assessee is not entitled to interest under s 244A against the MAT credit

CIT Vs M/s Sami Labs Limited (Karnataka High Court)

CIT Vs M/s Sami Labs Limited - Karnatka High Court (Dated: February 14, 2011)- Income tax – Section 115JAA, 263, 244A – Whether MAT credit is to be first adjusted and then TDS and pre paid taxed should be set off against the total tax liability – Whether assessee is entitled to interest u/s 244A against the MAT credit. - Revenue’s...

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