"27 June 2012" Archive

All About Hedge funds

A hedge fund is a private, largely unregulated pool of capital whose managers can buy or sell any assets, bet on falling as well as rising assets and participate substantially in profits from money invested. It charges both a performance fee and a management fee. An investment fund must be open to a limited number of accredited investors ...

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Posted Under: Finance |

Double Taxation Avoidance Agreement

Double taxation is the imposition of two or more taxes on the same income (in the case of income taxes), asset (in the case of capital taxes), or financial transaction (in the case of sales taxes). It refers to two distinct situations: Taxation of divided income without relief or credit for taxes paid by the company paying the dividend ...

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Posted Under: Finance |

AC, first class rail fares to rise from 1st July on a/c of Service Tax

Service tax on passenger travel and freight was introduced in the general budget for 2009-10, but was kept on hold due to the then Railway Minister Mamata Banerjee's opposition. The exemption has been extended since then on quarterly basis but this time the Finance Ministry has decided to exclude freight charges and AC rail travel from th...

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Posted Under: Finance |

RBI – Phasing out Tier-III capital for standalone Primary Dealers (PDs)

RBI/2011-12/623 IDMD.PCD.No.4896/14.03.05/2011-12 27/06/2012

It has been decided to phase out short term subordinated debt (Tier-III bonds) as an eligible source of capital for standalone PDs. Accordingly, PDs should not raise fresh funds through issuance of Tier-III bonds with effect from July 1, 2012....

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Apparently no restriction on Input Service Distributor to distribute credit only to one manufacturing unit

Anglo French Drugs & Industries Ltd. Vs Commissioner of Central Excise, Bangalore (CESTAT Bangalore)

The Adjudicating Authority has proceeded on the basis of provisions of Rule 7 and Board's circular which according to him, the credit distributor should have distributed the service tax credit to all units. We find strong force in the contentions raised by the ld. Counsel that the decision of the Tribunal in the case of Ecof Industries (P...

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e-Voting System of NSDL for Shareholders

e-Voting is voting through an electronic system where shareholders can vote on resolutions of companies requiring voting through Postal Ballot as per extant rules and regulations without having the necessity of sending their votes through post. Ministry of Corporate Affairs has authorised NSDL for setting up an electronic platform to faci...

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Posted Under: Finance |

500 listed companies to provide for electronic voting

SEBI Board Meeting - Platform for e-voting by shareholders of listed entities; manner of dealing with audit reports filed by listed entities and amendment to certain provisions in SEBI (ICDR) regulations relating to infrastructure sector, etc....

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Posted Under: Finance |

ICAI Extends Common Proficiency Course Registration date upto 5th October, 2012

In view of the closure of banks on account of half yearly closing on 29th September, 2012 followed by Sunday i.e. 30th September, 2012, the last date for registration for Common Proficiency Course (CPC) shall be 5th October, 2012 for being eligible to appear in the Common Proficiency Test (CPT) to be held in December, 2012....

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Posted Under: Finance |

Regarding extension of Bank Guarantee as an option in respect of duty exemption for Mega/ Ultra mega power projects

Notification No. 28/2012-Central Excise 27/06/2012

Government of India, in the Ministry of Finance (Department of Revenue), No. 12/2012-Central Excise, dated the 17th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 163(E), dated 17th March, 2012, namely:- ...

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Registration of Partnership Firms in Punjab

The law relating to a partnership firm is contained in the Indian Partnership Act, 1932.Under Section 58 of the Act, a firm may be registered at any time (not merely at the time of its formation but subsequently also) by filing an application with the Registrar of Firms of the area in which any place of business of the firm is situated or...

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Posted Under: Finance |

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