"13 March 2014" Archive

Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Second Amendment) Regulations, 2014

Notification No. FEMA. 297/2014-RB 13/03/2014

The designated branch of an authorised dealer may allow remittance of net sale proceeds (after payment of taxes) or credit the net amount of sale proceeds of shares / convertible debentures to the foreign currency account or a Special Non-resident Rupee Account of the registered Foreign Portfolio Investor concerned....

Empanelment of Stock Auditors / Valuers with SBI

EMPANELMENT OF STOCK AUDITORS / VALUERS GUIDELINES State Bank of India invites application for Stock Auditors / Valuers, those having their place of business in the State of Delhi, Uttarakhand, Rajasthan and the following districts of Uttar Pradesh and Haryana may send their offers: AGRA, ALIGARH, ETAH, FIROZABAD, HATHRAS, MAINPURI, MATHU...

Posted Under: Fema / RBI |

A brief note on Goods Transport Agency (GTA) Service

Service Tax was first introduced on Goods Transport Operator (GTO) services with effect from 16-11-1997. However, due to several oppositions from the truck associations, the levy of service tax on the same was withdrawn with effect from 02-06-1998. Since the magnitude of revenue loss from the withdrawal of service tax on transport service...

Posted Under: Fema / RBI |

CBDT notifies Industrial Park of ‘Rupa Infotech and Infrastructure Ltd.’ for sec. 80-IA

Notification No. 14/2014-Income Tax 13/03/2014

Notification No. 14/2014-Income Tax Whereas, an Agreement between the Republic of India and Romania, for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income was signed at New Delhi on the 8th day of March, 2013 (hereinafter referred to as the said Agreement);...

Drawback shipping bill in which the higher composite All Industry Rate applicable when Cenvat facility has not been availed is claimed – Processing at the time of export – regarding

F.No. 609/156/2013-DBK 13/03/2014

Under the extant procedure in EDI, where the exporter files a shipping bill for export under claim for duty drawback and shows the claim for the higher composite rate that features in Column (A) of the AIR Drawback Schedule,...

Government Deductors to File return before 31.03.14 to avoid late Fees U/s. 234E

Central Board of Direct Taxes has issued a detailed circular in the context of Late Fee, Levied under Section 234E of the Income Tax Act, 1961 vide Circular 07 of 2014 dated March 04, 2014 . The circular provides for ex-post facto extension of the due dates of filing TDS/ TCS Statements, prescribed under section 200(3)/ proviso to section...

Posted Under: Fema / RBI |

Sweat Equity Shares Under Companies Act, 2013

Sweat equity shares means such equity shares as are issued by a company to its directors or employees at a discount or for consideration, other than cash, for providing their know-how or making available rights in the nature of intellectual property rights or value additions, by whatever name called. ...

Posted Under: Fema / RBI |

Effect of Companies Act, 2013 on Directors Disqualification (Section 164)

Who is a Director? An appointed or elected member of the board of directors of a company. He has the responsibility for determining and implementing the company’s policy. A company director need not to be a shareholder or an employee, and may hold only the office of director under the provisions of the Act....

Posted Under: Fema / RBI |

Private Placement under Companies Act, 2013

CS S. Dhanapal Private placement means any offer of securities or invitation to subscribe securities to a select group of persons by a company (other than by way of public offer) through issue of a private placement offer letter and which satisfies the conditions specified in section 42. If a company, listed or unlisted, makes […]...

Posted Under: Fema / RBI |

Issue of Bonus Share Under Companies Act, 2013

Bonus issue refers to a further issue of shares made by a company having share capital to its existing share holders without receipt of any consideration from the shareholders for issuance of the shares. It is an offer of free additional shares to existing shareholders in proportion to their holdings....

Posted Under: Fema / RBI |

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