"January, 2015" Archive - Page 9

Presidential Awards to 40 Customs, Excise & Enforcement officers

Grant of Presidential Awards to the Officers of the Customs & Central Excise and Directorate of Enforcement on the eve of Republic Day, 2015 Every year, the officers of the Customs & Central Excise Department are considered for grant of Presidential Award of Appreciation Certificate for ‘exceptionally meritorious service rendere...

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Posted Under: Excise Duty |

How to access WhatsApp from Computer/ Laptop

To provide you with a richer communication experience, WhatsApp is now accessible both on your phone and your computer. WhatsApp Web is a computer based extension of the WhatsApp account on your phone. The messages you send and receive are fully synced between your phone and your computer, and you can see all messages on […]...

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Extended credit period to AE attracts TP adjustment

M/s Goldstar Jewellery Limited Vs Joint Commissioner of Income Tax (ITAT Mumbai)

In this case, the ITAT ruled that extended credit period allowed to the Associated Enterprises ('AE') amounted to short term funding without interest and thus attracted TP adjustment on account of notional interest from such short term funding....

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Inside Look at Insider Trading Regulations, 2015

The new Regulations also cast duties on the compliance officer appointed under the Regulations including monitoring and compliances of requirements under the Regulations. Such duties are to be undertaken very prudently. Say in case of employees where there is no requirement of initial disclosure but continual disclosure is required to be ...

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Posted Under: Excise Duty |

How to Shift Registered Office of Company with In State?

Every company is governed in accordance with the provisions of the Companies Act, 2013, therefore, it is mandatory for all companies to keep the Registrar of Companies informed about the location of the registered office and changes. Thereto from time to time, Promoters of the Company decide the State in which the registered office shall...

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Salient features of ‘Depository Receipts Scheme, 2014’

RBI/2014-15/421 A.P. (DIR Series) Circular No. 61 (22/01/2015)

A new scheme called ‘Depository Receipts Scheme, 2014’ (DR Scheme, 2014) for investments under ADR/GDR have been notified by the Central Government effective from December 15, 2014 which provides for repeal of extant guidelines for Foreign Currency Convertible Bonds and Ordinary Shares (Through Depositary Receipt Mechanism) Scheme, 19...

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What Bank Should disclose while grating credit Facility & on website?

RBI/2014-15/422 DBR.Leg.No.BC.64/09.07.005/2014-15 (22/01/2015)

Banks should provide a clear, concise, one page key fact statement/fact sheet, as per prescribed format in Annex, to all individual borrowers at every stage of the loan processing as well as in case of any change in any terms and conditions. The same may also be included as a summary box to be displayed in the credit agreement....

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Exemption from Payment of advance VAT to works contractors

Instruction on Exemption from payment of advance VAT to works contractors in Punjab The Excise and Taxation Commissioner, Punjab has issued instructions to grant advance VAT exemption to the works contractors whose TDS u/s 27 of Punjab VAT Act, 2005 is being deducted. It is worth mentioning here that this instruction has come after the [&...

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Posted Under: Excise Duty |

FEMA terms for ODI by proprietorship concern / unregistered partnership firm in India

RBI/2014-2015/419 A.P. (DIR Series) Circular No.59 (22/01/2015)

Keeping in view the changes in the definition / classification of the exporters as per the Foreign Trade Policy of the Ministry of Commerce and Industry issued from time to time, it has been decided to review the policy framework for Overseas Direct Investments (ODI) by a proprietorship concern / unregistered partnership firm in India. ...

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Issue of partly paid shares & warrants by Indian companies

Press Release No. 19/2015 (22/01/2015)

While discussing the minutes of the 157th Meeting of the Board held on November 19, 2014, it was decided to add a provision that if the acquirer and the Merchant Banker are able to demonstrate that they have contacted all the public shareholders, about the offer in the manner prescribed, then the condition of mandatory participation of 25...

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