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Archive: 04 July 2011

Posts in 04 July 2011

Repayment of 11.50 % loan, 2011 on August 5, 2011 and Repayment of Government of India Floating Rate Bonds, 2011 on August 8, 2011

July 4, 2011 246 Views 0 comment Print

The outstanding balances of 11.50 % Loan, 2011 is repayable at par on August 5, 2011 and no interest will accrue there on from the said date. In the event of a holiday being declared on August 5, 2011 by any State Government under the Negotiable Instruments Act, 1881, the Loan will be repaid by the paying offices in that State on the previous working day.

Shri G. Padmanabhan takes charge as New ED at RBI and Shri Harun Rashid Khan assumes charge as RBI Deputy Governor

July 4, 2011 1126 Views 0 comment Print

Shri Harun Rashid Khan took over today as Deputy Governor of the Reserve Bank of India. As Deputy Governor he has been appointed for a period of three years. He will look after Central Security Cell, Department of External Investments and Operations, Department of Government and Bank Accounts, Department of Payment and Settlement Systems, Foreign Exchange Department, Internal Debt Management Department and Inspection Department.

ICAI Convocation (I) – 2011

July 4, 2011 991 Views 0 comment Print

Members participating at Convocation are requested to wear the Royal Blue Colour Blazer / Navy Blue Colour Blazer respectively and female members may wear saree / business suit while attending the Convocation and receiving the membership certificate. A tie and a lapel pin, saree pin in case of female members will be presented by the Institute to them at the convocation.

Import of hazardous waste under Hazardous Waste (Management, Handling and Transboundary) Rules, 2008

July 4, 2011 474 Views 0 comment Print

Circular No.27/2011-Customs It is reported to the Board that e-wastes such as used computers, CRT, RAM and electrical and electronic assemblies are being dumped in a big way into the country thereby posing serious threat to environment. References have also been received seeking clarification whether used computers imported for re-use need permission of Ministry of Environment and Forest before clearance.

Redemption of Foreign Currency Convertible Bonds (FCCBs) – A.P. (DIR Series) Circular No.01

July 4, 2011 3384 Views 0 comment Print

A.P. (DIR Series) Circular No.01 Keeping in view the need to provide a window to facilitate refinancing of FCCBs by the Indian companies who may be facing difficulty in meeting the redemption obligations, it has been decided to consider applications for refinancing of FCCBs by Indian companies under the automatic route. Accordingly, designated AD Category – I banks may allow Indian companies to refinance the outstanding FCCBs subject to compliance with the terms and conditions set out hereunder: –

All about service tax on Restaurant Service

July 4, 2011 6569 Views 0 comment Print

Taxable Restaurant Service, means any service provided or to be provided to any person by a restaurant, by whatever name called, having the facility of air-conditioning in any part of the establishment, at any time during the financial year, which has licence to serve alcoholic beverages, in relation to serving of food or beverage, including alcoholic beverages or both, in it premises.

Service Tax on Hotel, Inn, Club and Guest House Service

July 4, 2011 4325 Views 0 comment Print

Taxable service, means any service provided or to be provided to any person by a hotel, inn, guest house, club or campsite, by whatever name called, for providing of accommodation for a continuous period of less than three months.

ICAI accounting format for parties to ensure transparency

July 4, 2011 1388 Views 0 comment Print

In a bid to ensure transparency in their functioning, a format for accounting and auditing of income and expenditure of political parties has been submitted to Election Commission by the Institute of Charted Accountants of India (ICAI). The implementation of the uniform format would help in bringing about accountability of political parties, ICAI President G Ramaswamy told reporters here last night.

Decision on FDI in multi-brand retail likely in July

July 4, 2011 1352 Views 0 comment Print

A decision on the contentious issue of allowing foreign direct investment (FDI) in multi-brand retail is likely to be taken before the Monsoon session of Parliament, sources said. However, there will be tough riders on the global retail chains for launching their operations. These would include hand-holding the small kirana shop-keepers who fear they could be wiped out by the giant retailers.

Govt streamlines FDI proposals’ filing for approval

July 4, 2011 427 Views 0 comment Print

New Delhi: Investors seeking government approval for Foreign Direct Investment (FDI) will now have to obtain electronically generated unique number from the concerned authorities before filing requests with the Foreign Investment Promotion Board. The government’s move is expected to streamline as well as expedite the process of clearing FDI proposals in key sectors such as telecom, defence, direct-to-home and commodity exchange.

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