EPFO issues an internal circular dated 13 July 2012 on ‘Special Recovery Drive from 1 August, 2012 to 30 September, 2012′. The circular reiterates the launching of the special recovery drive to recover the arrears of provident fund from both un-exempted and exempted establishments and the actions that would be taken against the defaulting establishments under the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952.
We are attaching below quick referencer Prepared by Team of B Mathur & Co. Referencer contains updates on Circulars and Notifications related to Companies Act, LLP Act, Excise Duty, Custom Duty, DGFT & SEBI for the period from 04.04.2012 to 30.06.2012. Link to Download the referencer are given below :-
Please refer to paragraph 5 of the directives enclosed to the circular DBOD.Dir.BC.47/13.03.00/2000-2001 dated November 4, 2000 and mail box clarification dated May 13, 2005 in terms of which it was clarified that in the case of Non-Resident (External) deposits of staff members, existing or retired, interest rate including any additional interest paid to them by virtue of their being staff members, should not exceed the ceiling stipulated by RBI from time to time.
To meet the requirement of professional skills in the current changing dynamic economic scenario, Cost Accountants in practice and service (members of ICAI) should equip themselves with the new skills and concepts to meet the challenges and render yeomen’s services to trade, commerce and industry. Therefore, the existing scheme for mandatory training to the members in practice and service under Continuing Education Programme (CEP) has been revised. The basic features of the revised scheme are:
India has developed an Authorized Economic Operator (AEO) Programme consistent with World Customs Organization (WCO) SAFE Framework of Standards. The trade supply chain has become extremely complicated and vulnerable to external threats which led to an urgent need to have a system that ensures end to end supply chain security while ensuring faster release of goods. Authorized Economic Operator Programme has been developed by the WCO to standardize the procedure for this programme. Many Customs administrations globally have also adopted the same or similar programmes to ensure supply chain security.
Please refer to paragraph 4 of the directives enclosed to our circular DBOD.Dir.BC.49/13.03.00/2000-2001 dated November 4, 2000 and mail box clarification dated May 13, 2005 in terms of which it was clarified that in the case of FCNR(B) deposits of staff members, existing or retired, interest rate including any additional interest paid to them by virtue of their being staff members, should not exceed the ceiling stipulated by RBI from time to time.
CIRCULAR no. IMD/FII&C/17/2012, dated 18-7-2012 Vide SEBI circulars IMD/DF/14/2011 and IMD/FII&C/3/2012 dated August 09, 2011 and January 13, 2012 respectively, Qualified Foreign Investors (QFIs) were allowed to invest in schemes of Indian mutual funds and Indian equity shares subject to terms and conditions mentioned therein by opening a demat account with a qualified Depository Participant (DP). In consultation with the Government of India (GoI) and RBI, it has now been decided to allow QFIs to invest in Indian corporate debt securities and debt schemes of Indian mutual funds.
CIRCULAR no. MRD/DP/18/2012, dated 18-7-2012 Several representations/suggestions have been received from the market participants on few provisions of the above circulars. After due examination and deliberation with the market participants it has been decided to replace the procedures and instructions contained in the aforementioned circulars by the following:
In supersession of our announcement dated 11th July, 2012 on the likely date and timing of the declaration of the results of the Chartered Accountants Final examination held in May 2012 and of the Common Proficiency Test held in June 2012, this is to inform that due to unavoidable reasons, both the above referred results are now likely to be declared latest by the evening of Thursday, the 19th July, 2012.
Learn about the exemption from filing income tax returns for salaried individuals with total income not exceeding Rs.5,00,000. Find out the eligibility criteria and details.
