"21 October 2014" Archive

SEBI : Modification of client codes of non-institutional trades executed on stock exchanges (All Segments)

CIR/MRD/DP/29/2014 21/10/2014

of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market....

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Govt. proposes merger of NSEL with FTIL


The Central Government proposes to issue the following Order (presently in the Draft form) causing Amalgamation of National Spot Exchange Limited with its Holding Company Financial Technologies (India) Limited...

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Spending on CSR mandatory for all public sector companies

Office Memorandum No.15 (13)/2013-DPE (GM) 21/10/2014

The Government of India enacted the Companies Act 2013 in August 2013. Section 135 of the Companies Act 2013 (hereinafter referred to as ‘the Act) deals with the subject of Corporate Social Responsibility (CSR). It lays down the qualifying criteria based on net worth, turnover, and net profit for companies which are required to underta...

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Govt. notifies Depository Receipts Scheme, 2014

Notification F.No. 9/1/2013-ECB 21/10/2014

This Scheme may be called the Depository Receipts Scheme, 2014. 'depository receipt' means a foreign currency denominated instrument, whether listed on an international exchange or not, issued by a foreign depository in a permissible jurisdiction on the back of permissible securities issued or transferred to that foreign depository and d...

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Penalty u/s 271(1)(c) cannot be levied for mere non acceptance of explanation furnished by the assessee

Shri Kirtibhai K. Shroff Vs ITO (ITAT Ahmedabad)

Issue -During the course of search certain valuables including jewellery was found and the assessee has filed detailed explanation regarding the source of acquisition of jewellery. The assessee has explained that out of the jewellery found, some part belongs to the wife of the assessee...

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Association Registered under FCRA, 2010 to incur expense above Rs 20000 by cheque

F. No.II/21022/58(136)/2014-FCRA(MU) 21/10/2014

During the course of inspection of records and accounts of the associations registered/ granted prior permission under Foreign Contribution (Regulation) Act, 2010 from time to time, it has been observed that some associations withdraw huge amount of foreign contribution (FC) from their FC designated bank accounts and Utilisation Accounts ...

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