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"28 February 2012" Archive

Circular for Mutual Funds – Distributor Due Diligence, Clarification to Regulation 24 of SEBI (Mutual Funds) Regulations, 1996

Circular No. Cir/IMD/DF/7/2012 28/02/2012

Circular No. Cir/IMD/DF/7/2012 , Dated- February 28, 2012 It is hereby clarified that the due diligence of distributors is solely the responsibility of mutual funds/AMCs. This responsibility shall not be delegated to any agency. However, mutual funds/AMCs may take assistance of an agency of repute while carrying out due diligence process...

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Circular on Mutual Funds – Amendments to SEBI (Mutual Funds) Regulations, 1996, Valuation of Debt and Money Market Instruments, Advertisement

Circular No. Cir/IMD/DF/6/2012 28/02/2012

Amendments to SEBI (Mutual Funds) Regulations, 1996 1. Please find enclosed a copy of the gazette notification No. LAD-NRO/GN/201 1-12/38/4290 dated February 21, 2012 pertaining to Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2012 for your information and implementation....

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Verification of Marks of CS December, 2011 Examinations

Student can seek ‘Verification of Marks’ in any subject(s) of December , 2011 examination within one month from the date of declaration of results. The application for verification of marks should be made by interested candidates in the prescribed form given below, in candidate’s own handwriting together with requisite fee @ Rs....

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Posted Under: SEBI |

ICSI – Guidelines, Rules and Procedures for Supply of Certified Copies) Of Answer Books to Students

A student who wishes to obtain certified copies of his/her answer books of any subject(s) of a particular examination shall apply on the prescribed application form together with (a) requisite fee; and (b) self-attested photocopy of his/her Admit Card (Roll No.) or Student Identity Card so as to reach the Institute within 45 days from the...

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Posted Under: SEBI |

Common area has to be excluded while computing built-up area for benefit u/s. 80-IB(10)

CIT Vs Raghavendra Constructions (Karntaka High Court)

Keeping in mind the fact that obstacles were put in assessees getting the benefit, the Legislature introduced the definition of built-up area in sub-section (14)(a) of section 80-IB. From a reading of the definition of built-up area, the intention is clear. In calculating the built-up area it is only the inner measurements of the resident...

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Duty exemption on re-import of Cut & Polished Diamonds sent abroad for Certification/ Grading

Notification No. 100 (RE-2010)/2009-2014 28/09/2012

Basic Customs Duty of 2% on import of cut & polished diamonds has been imposed by the Department of Revenue with effect from 16.1.2012 vide Notification No.01/2012. Such duty will not be applicable on re-import of cut & polished diamonds (each of 0.25 carat or more) sent for certification/ grading abroad to the above laboratories. (Ear...

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Penalty U/s. 271D for Contravention of section 269SS not leviable if assessee provides reasonable cause

Baldev Singh Vs Addl. CIT (ITAT Chandigarh)

The assessee in the present case has also raised the plea of reasonable cause, that the person advancing the loan was agriculturist and had no bank account. Accordingly, we delete the penalty levied under sections 271D and 271E of the Act....

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As per Import and Export Policy for the period 2009-2014 mport of second hand goods except capital goods is restricted and special import license is required

Eastron Enterprises Inc. Vs Commissioner of Customs (Delhi High Court)

Eastron Overseas Inc., Mataji Enterprises & M/s. Celestial Enterprises by bill of entries dated 12.12.2011, 14.12.2011 and 7.12.2011 had asked the Commissioner of Customs at ICD, Tughlakabad, New Delhi to permit and allow import into India of the Data Graphic Display Tubes, which have been imported from Malaysia. It was claimed that these...

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CBDT notifies Competition Commission of India U/s. 10(46)

Notification No. 12/2012-Income Tax 28/02/2012

Notification No. 12/2012-Income Tax In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, the Competition Commission of India, a Commission established under sub-section (1) of section 7 of the Competition Act, ...

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Section 10(46) of the Income-tax Act, 1961 – Exemptions – Statutory Body/Authority/Board/Commission – Notified body or authority – National Skill Development Corporation

Notification No. 11/2012-Income Tax 28/02/2012

Notification No. 11/2012-Income Tax In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, the National Skill Development Corporation, a body constituted by the Central Government, in respect of the specified inc...

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