PUBLIC NOTICE No. 105/2009-14(RE 2010) This will reduce the transaction cost and procedural burden as it will facilitate utilisation of re-credit without requiring it to be presented to RA of DGFT for an endorsement of revalidation.
Chapter VII of the Companies Act deals with winding up procedures to be followed for liquidating the affairs of the company. The present Companies (Court) Rules, 1959 framed by the Hon’ble Supreme Court of India supplement the winding procedures and it has the effect of an act of Parliament. It provides for every segment of liquidation exhaustively till dissolution of a company in liquidation. However, there are certain areas where various High Court issues instructions to carry out a certain function in a particular manner thus leading to variation from the procedure followed by one Official Liquidator to the another Official Liquidator in the same matter.
Students whose parental income is less than Rs. 4.5 lakhs per annum and are enrolled in recognized technical & professional courses, after class twelfth, in India are eligible under the scheme. Educational loans of such students disbursed from 1st April 2009, irrespective of date of sanction are eligible for interest subsidy.
Income Tax Department receives information from various sources including from foreign governments under the Double Taxation Avoidance Agreement (DTAA). Whenever such information is received, it is investigated and any untaxed amount is assessed and brought to taxation. Prosecution proceedings for concealment are initiated in appropriate cases.
Introduction on Interst Free Banking The Reserve Bank of India (RBI) has received references from the India Centre for Islamic Finance for introducing interest-free banking in the country in order to ensure inclusive growth with innovation in accordance with recommendations of the Raghuram Rajan Committee.
Based on the decisions taken by the Government on the recommendations of the Shyamala Gopinath Committee for Comprehensive Review of National Small Savings Fund (NSSF), the interest rates for small saving schemes are to be notified every financial year, before 1st April of that year. Accordingly, the rate of interest on various small savings schemes for the financial year 2012-13 effective from 1.4.2012, on the basis of the interest compounding/payment built-in in the schemes, shall be as under:
The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Rajya Sabha that the Indian Chartered Accountant (CA) firms are regulated by the Institute of Chartered Accountants of India (ICAI) in terms of provisions of the Chartered Accountants Act, 1949 and the Rules and Regulations framed thereunder. Further, no CA firms, whether Indian or foreign, can operate in the area of audit/ assurance services in India without being registered with the ICAI. It is, however, possible that several “Multinational Accounting Firms” may be operating in the country in the fields of audit/ assurance services through Indian Audit Firms/ Members who are registered with the ICAI.
Haven’t you always wanted to create those lovely drop down list boxes to enter data in lists or forms for uniformity and standardisation? These are called data validation list boxes. Here’s how create them. In our example, Let us consider that you want the user to enter season in column B from a list of valid seasons. To create the List box for all cells in that column, select the entire column, except cell B1, and on the ribbon click à
The rate of service tax is being increased from ten per cent to twelve per cent with effect from 01/04/2012. In another words from the 1st April, 2012 service tax rate will be 12.36% instead of present 10.3%.
Growth in Sales Tax collection is 20 per cent and exceeds target by 4000 crore. Electronic surveillance of transactions to go up. Online verification of Input Tax Credit facility will be made avail able to dealers shortly.Exemption to food-grains, pulses and their flour, Solapuri Chadars and towels and wet dates to continue upto 31st March, 2013.
