"03 December 2014" Archive

RBI relaxes condition for issue of Pre-paid Payment Instruments / GIft Cards

RBI/2014-15/333 DPSS.CO.PD.No.980/02.14.006/2014-15 03/12/2014

The maximum validity of the gift cards has been enhanced from one year to three years. Other provisions of PPI guidelines with respect to Gift Cards will continue to be applicable....

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Advisory for conducting scrutiny assessment proceedings in Jammu and Kashmir

F.No.226/303/2014/ITA.II 03/12/2014

It has come to the notice of the Board that due to recent devastation caused by the floods in the State of Jammu & Kashmir, the income-tax assessees of that State are facing difficulties in ensuring compliance either with the requirements under ongoing scrutiny assessment proceedings or with respect to notices u/s 143(2) of the Income Tax...

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Companies (Amendment) Bill, 2014 – Proposed Amendments

Companies (Amendment) Bill, 2014 The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, today approved the introduction of the Companies (Amendment) Bill, 2014 in Parliament to make certain amendments in the Companies Act, 2013. The Companies Act, 2013 (Act) was notified on 29.8.2013. Out of 470 sections in the Act, 283 sect...

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Posted Under: Fema / RBI |

Govt. Set-up High Level Committee to Interact With Trade & Industry On Tax Law

PRESS NOTE Setting Up Of High Level Committee To Interact With Trade And Industry On Tax Law In his Budget Speech 2014-1 5, Finance Minister had announced the setting up of a High Level Committee to interact with trade and industry and ascertain areas where clarity on tax laws is required. Accordingly, a High Level […]...

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Posted Under: Fema / RBI |

CA Exam – Mistakes which I had done, one should not do..

Madhusudan Kabra I am writing this article especially for students of ICAI, ICSI, ICAI (CMA). This article is summarization of what strategies I had made while preparing for CA examinations, which my friends haven’t applied and later on suffered a lot particularly on a day before examinations. So my try is to share my experience [&helli...

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Posted Under: Fema / RBI |

If Advocates only allowed to Practice in Taxation, all IT Officials must be Graduates in Law

Hitherto, the Lawyers/Advocates are attached to civil courts and are practicing Law before the Judges in Courts of Law by presenting, representing or pleading on behalf of their clients/cases. Henceforth, if Lawyers & Advocates (Graduates in Laws) are alone entitled to practice even in Taxation Field (Income Tax, Service Tax, Custom & C...

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Posted Under: Fema / RBI |

Greatest Need for Fully Utilizing Internet & Information Technology in deliverance of Justice

Whereas the Judgment of the Hon’ble ITAT, Agra Bench in ITA No.133/Agra/2013 dated 09-07-2013 in which it has been emphasized that ,none will be entitled for appearing / attending / practicing before the Income Tax Authorities without Registering as an Income Tax Practitioner with the CIT ...

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Posted Under: Fema / RBI |

ICSI releases 'Referencer on Pre-certification of e-forms'

We are happy to inform that the Institute has brought out a publication namely ‘Referencer on Pre-certification of e-forms’ under the Companies Act, 2013. Pre-certification of e-forms is an important area of work for the Company Secretaries in practice. MCA has entrusted company secretaries with the responsibility of ensuring reliabil...

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Posted Under: Fema / RBI |

100% FDI under automatic route permitted in construction development sector

Press Note No. 10 (2014 Series) 03/12/2014

The State Government/Municipal/Local Body concerned, which approves the building/development plans, would monitor compliance of the above conditions by the developer....

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Concise and Comprehensive Note on CSR

Sk. Md. Asif Ali CONCISE NOTE ON CSR Eligibility Every company (Private or Public) having Networth of Rs. 500 Crore or more or Turnover of Rs. 1000 Crore or more or 3.  Net profit of Rs. 5 Crore or more in any of the 3 preceding financial years. (Circular 18 June by MCA)...

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Posted Under: Fema / RBI |

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