"16 June 2011" Archive

Income Tax Department to provide details of tax returns of political parties under the RTI Act

The Income Tax Department has now decided to provide full details of tax returns of political parties under the RTI Act after the Central Information Commission (CIC) issued it directives in this regard. The department, according to sources, used to restrict such information, citing section 138 of the Income Tax Act, which allowed denial ...

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Posted Under: Income Tax | ,

Advocates can practise in all courts

Now, lawyers can practise, as a matter of right, in all courts and forums, including tribunals or any quasi-judicial authority.Fifty years after the Advocates Act, 1961, came into force, the Centre has notified Section 30 of the Act — with effect from June 15 2011 — to enable advocates to practise anywhere. This provision was not no...

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Posted Under: Income Tax | ,

SEBI circular relaxes norms on changing names by Listed Companies

Circular No. CIR/MRD/DP/07/2011 (16/06/2011)

Relaxing provisions for change in names by companies, regulator SEBI today said any listed firm seeking to undertake such an exercise can do so provided that the amount invested in new projects associated with change of profile is at least 50 per cent of their assets. As per the earlier rule, at least 50 per cent of the total revenue of s...

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SEBI – Modification to Investor Protection Fund (IPF)/ Customer Protection Fund (CPF) Guidelines

Circular No. CIR/MRD/DP/ 06 /2011 (16/06/2011)

SEBI vide circular no MRD/DoP/SE/Cir-38/2004 dated October 28, 2004 had issued comprehensive guidelines for regulation of Investor Protection Fund (IPF)/ Customer Protection Fund (CPF) required to be maintained by Stock Exchanges. Further vide circular No. MRD/DoP/SE/Cir-21/2006 dated December 14, 2006, SEBI issued a clarification to Clau...

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Speech by Chairman-CBEC on Annual Conference of Chief Commissioners and Directors General, 2011

On behalf of the Central Board of Excise & Customs, I extend a warm welcome to you all at the Annual Conference of Chief Commissioners and Directors General for the year 2011. The annual conference provides us with an opportunity to take stock of our performance in the year gone by, and to analyze the reasons for deficiencies and failure...

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Posted Under: Income Tax |

Home, auto loans to become costlier as RBI hikes key rates as RBI raises interest rates for the tenth time in 15 months

The RBI, which hiked interest rates for the tenth time in 15 months today, said it will continue with its tight monetary policy as inflation is spreading to the non-food segment also, which is a concern. Based on the current and evolving growth and inflation scenario, the Reserve Bank will need to persist with its anti-inflationary stance...

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Posted Under: Income Tax |

RBI by Raising Repo Rate by 25 Basis Points Seeks to Maintain an Interest Rate Environment That Moderates Inflation – FM

Union Finance Minister Shri Pranab Mukherjee has said that by announcing an increase of 25 basis points in repo rate, from the existing 7.25 per cent to 7.50 per cent, RBI has sought to maintain an interest rate environment that moderates inflation and checks inflationary expectations. The Finance Minister was reacting to the Reserve Bank...

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Posted Under: Income Tax |

FM Releases Handbook on Disinvestment Through Public Offerings

Union Finance Minister Shri Pranab Mukherjee has said that the process of disinvestment of Central Public Sector Enterprises (CPSEs) through public offerings is technical in nature and requires knowledge of not only the rules and regulations laid down by SEBI and other concerned bodies but also the various processes followed by Government...

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Posted Under: Income Tax |

RBI increases Repo, Reverse Repo and Marginal Standing Facility Rates

RBI/2010-11/569 FMD.MOAG. No.60/01.01.01/2010-11 (16/06/2011)

As announced in the Mid-Quarter Monetary Policy Review: June 2011, it has been decided to increase the repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 7.25 per cent to 7.50 per cent with immediate effect....

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Exim Bank's Line of Credit to the Government of the Federal Democratic Republic of Ethiopia – A.P. (DIR Series) Circular No. 72

RBI/2010-11/568 A.P. (DIR Series) Circular No. 72 (16/06/2011)

Export-Import Bank of India (Exim Bank) has concluded an Agreement dated February 18, 2011 with the Government of the Federal Democratic Republic of Ethiopia making available to the latter, a Line of Credit (LOC) of USD 91 million (USD ninety one million) for financing eligible goods and services including consultancy services, machinery ...

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