"01 November 2011" Archive

China the Question of Necessity and Not Choices

All set to go with the EFSF proposal of surviving the Euro banks and economy. But the biggest question within the proposal is who will buy the bonds and how the process will be executed. Europe need bond buyers and its domestic natives don’t have money to buy them hence its needs global buyers. Russia, […]...

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Posted Under: Finance |

Income Tax Slab from Assessment year 2001-2002 to A.Y. 2012-2013

Income Tax Rate Slabs for Assessment year 2001-2002,2002-2003, 2003-2004, 2004-2005, 2005-2006, 2006-2007, 2007-2008, 2008-2009, 2009-2010, 2010-2011 amd A.Y. 2012-2013 for Individual, Hindu undivided Family (HUF), Women Other Than Senior Citizen. ...

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Posted Under: Finance |

Govt introduces new PAN form for non-residents

New Delhi: The Income Tax Department  introduces a separate permanent account number (PAN)application form for non-residents in which NRIs, PIOs and entities having interest in India will have to provide additional information to the Central Board of Direct Taxes (CBDT). The new form–49AA— will help the department gather info...

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Posted Under: Finance | ,

SEZ – Section 4 Of The Special Economic Zones Act, 2005 – Calica Constructions And Impex Pvt. Ltd.

Notification No. S.O. 2349 (E) (12/10/2011)

Whereas, M/s. Calica Constructions and Impex Private Limited, a private organisation, had proposed under section 3 of the Special Economic Zones Act, 2005 (28 of 2005), (hereinafter referred to as the said Act) to set up a sector specific Special Economic Zone for Information Technology and Information Technology enabled services at Villa...

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FEMA – Memorandum of Instructions governing money changing activities

RBI/2011-12/242 A.P. (DIR Series) Circular No. 41 (01/11/2011)

In order to provide more flexibility, to authorised persons to decide the location of their branches, it has been decided to dispense with the criteria of 1:1 ratio between metro and non-metro branches. However, we expect branches to be diversified and to be meeting the demand of tourists, etc. All the other instructions shall remain unch...

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Relaxation in period to realise export proceeds from Export of Goods and Software

RBI/2011-12/241 A.P. (DIR Series) Circular No.40 (01/11/2011)

It has been decided, in consultation with the Government of India, to further extend by one year, i.e. from October 01, 2011 till September 30, 2012, the relaxation with respect to the period of realization and repatriation to India, of the amount representing the full value of goods or software exported, from six months to twelve months ...

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Deferred Payment Protocols between Government of India and erstwhile USSR – A.P. (DIR Series) Circular No. 39

RBI/2011-12/240 A.P. (DIR Series) Circular No. 39 (01/11/2011)

A.P. (DIR Series) Circular No. 39 ttention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No.10 dated September 07, 2011, wherein the Rupee value of the special currency basket was indicated as Rs.66.9682 effective from August 23, 2011. AD Category-I banks are advised that a further revisio...

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Revenue department opposed abolition of Securities Transaction Tax (STT)

The revenue department is opposed to abolition of Securities Transaction Tax (STT) as the levy helps keep a tab on investments in markets and track flow of unaccounted funds. STT helps in overall regulation and keep a check on cost involved. The stock exchanges have been asking the Finance Ministry to abolish STT arguing that such a step ...

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Posted Under: Finance |

S.K.Goel Takes Over as Chairman, Central Board of Excise and Customs (CBEC)

Shri. S.K.Goel (IRS:1975) today took charge as the Chairman, Central Board of Excise & Customs (CBEC) on 31st October, 2011. He took charge from Shri S.Majumdar who demitted the office today on his superannuation. Shri Goel joined Indian Revenue Service (IRS) (Customs & Central Excise) in the year 1975. He has handled various assignments ...

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Posted Under: Finance |

European Banks Still Need Rescue

World market is happy with the recent funding mechanisms declared and agreed for the troubled European economies. Banks have been asked to absorb 50% of the pains of trouble assets. Another part of the funding will be provided by EFSF which will create a set of special-purpose vehicles financed by other investors, including sovereign-weal...

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Posted Under: Finance |

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