RBI has decided vide A.P. (DIR Series) Circular No. 17, Dated- September 16, 2011 to permit a resident individual to make a rupee gift to a NRI/PIO who is a close relative of the resident individual [close relative as defined in Section 6 of the Companies Act, 1956] by way of crossed cheque /electronic transfer. The amount should be credited to the Non-Resident (Ordinary) Rupee Account (NRO) a/c of the NRI / PIO and credit of such gift amount may be treated as an eligible credit to NRO a/c. The gift amount would be within the overall limit of USD 200,000 per financial year as permitted under the Liberalised Remittance Scheme (LRS) for a resident individual.
1) Annual filing of Form 8 is now taken in straight through process. Users are requested to download the new eForm for their filing. 2) Forms 17 & 2 and Forms 18 & 2 will be linked and processed together in the back-office to speed up the conversion process. 3) Viewing of public documents filed by LLPs are enabled.
In exercise of the powers conferred by sub-sections (1) and (2) of section 79 of the Limited Liability Partnership Act, 2008 (6 of 2009), the Central Government hereby makes the following rules, further to amend the Limited Liability Partnership Rules, 2009 namely:-
Exposure Draft of Indian Accounting Standard (Ind AS) 28 (as amended) (Corresponding to IAS 28 (As amended in 2011) Investments in Associates and Joint Ventures (Comments to be received by 15 October 2011)-(16-09-2011) Download Exposure Draft of Indian Accounting Standard (Ind AS) 28
Exposure Draft of Indian Accounting Standard (Ind AS) 112 (Corresponding to IFRS 12 Disclosure of Interests in Other Entities (Comments to be received by 15 October 2011)
Exposure Draft of Indian Accounting Standard (Ind AS) 111 (Corresponding to IFRS 11 Joint Arrangements (Comments to be received by 15 October 2011)-(16-09-2011) Download Exposure Draft of Indian Accounting Standard (Ind AS) 111
Exposure Draft of Indian Accounting Standard (Ind AS) 27 (as amended) (Corresponding to IAS 27 (As amended in 2011) Separate Financial Statements (Comments to be received by 15 October 2011) – (16-09-2011) Download Exposure Draft of Indian Accounting Standard (Ind AS) 27
Exposure Draft of Indian Accounting Standard (Ind AS) 110 (Corresponding to IFRS 10 Consolidated Financial Statements (Comments to be received by 15 October 2011)-(16-09-2011) Download Indian Accounting Standard (Ind AS) 110
The Reserve Bank of India today released the thirteenth volume of its annual statistical publication titled Handbook of Statistics on the Indian Economy (HBS) 2010-11. One of the major initiatives of the Reserve Bank; this publication is aimed at improving data dissemination to public. Through this publication, the Reserve Bank has been providing time series data on various economic and financial indicators for the Indian economy.
NOTIFICATION NO.66/2011-CUSTOMS (N.T.) In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following amendments in the Notification of the Government of India, Ministry of Finance (Department of Revenue) No.62/2011-CUSTOMS (N.T.) dated the 26th August, 2011 [S.O. 1975 (E)], namely:-
