"16 August 2012" Archive

Constitution of a Committee for redressal of the demands/issues raised by ITGOA and ITEF

Office Memorandum [F.No. 12020/6/2012-Ad.IX] (16/08/2012)

Representations have been received that quarterly review meetings taken by Chairman with the representatives of ITGOA and ITEF are not always held in time with the result that issues raised by the Association are not reviewed/ resolved in time bound manner. It has, therefore been decided with the approval of Chairman (CBDT) to constitute ...

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SEBI – Development of a long term policy including financial inclusion & tax issues for mutual funds

PR No. 77/2012 (16/08/2012)

SEBI Board took note of the lack of penetration of mutual fund products, inadequate distribution network, need for greater alignment of the interest of various stakeholders, regulation of distributors and issues concerning investor protection, and has approved some immediate steps as given below and has decided to develop a long term poli...

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Company employee holding upto 0.50% shareholding in company covered under the category of persons not having any interest in the capital of the company

Notification No. G.S.R. 534(E) (16/10/2012)

It is hereby clarified that any employee of a company holding shares of the company up to 0.5% of paid up share capital thereof under any scheme formulated for allotment of shares to such employees including under Employees' Stock Option Plan or by way of qualification shares are also covered under the category of persons not having any i...

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Banks permitted to allow premature withdrawal of deposit by surviving joint depositor on death of other

RBI/2012-13/168 DBOD No. Leg. BC. 37/09.07.005/2012-13 (16/08/2012)

It is reiterated that in case of term deposits with Either or Survivor or Former or Survivor mandate, banks are permitted to allow premature withdrawal of the deposit by the surviving joint depositor on the death of the other, only if, there is a joint mandate from the joint depositors to this effect....

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Rate of exchange of conversion of each of foreign currency WEF 17th August, 2012

Notification No. 75/2012-Customs (N.T.) (16/08/2012)

NOTIFICATION NO. 75/2012-CUSTOMS (N.T.), rate of exchange of conversion of each of the foreign currency into Indian currency or vice versa shall, with effect from 17th August, 2012 be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods...

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