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Archive: April, 2016

Posts in April, 2016

Reg. Benefit of MEIS on exports of Tamarind Kernel Powder

April 19, 2016 2698 Views 0 comment Print

It has been brought to the notice of this Directorate that some exporters are classifying the item Tamarind Kernel Powder under ITC(HS) Code 11063010 and claiming MEIS benefit. It is clarified that the correct ITC(HS) Code of Tamarind Kernel Powder is 13023290 on which MEIS benefit is not available.

10 tips to build and track a mutual fund’s portfolio

April 19, 2016 10132 Views 0 comment Print

In this article we are going to give answers to some basic questions every investor have in mind. 1. How to invest in mutual funds? 2. How to build a mutual funds portfolio? 3. How to track my mutual funds portfolio?

RBI amends provisioning norms in respect of fraud cases

April 18, 2016 1438 Views 0 comment Print

Banks should normally provide for the entire amount due to the bank or for which the bank is liable (including in case of deposit accounts), immediately upon a fraud being detected. While computing the provisioning requirement, banks may adjust financial collateral eligible under Basel III Capital Regulations – Capital Charge for Credit Risk (Standardised Approach), if any, available with them with regard to the accounts declared as fraud account;

Factors that impact your CIBIL score

April 18, 2016 9796 Views 0 comment Print

Banks and financial institutions have a stringent process of screening the loan applications. They use the CIBIL score of an individual to check his credit worthiness. CIBIL (Credit Information Bureau of India) acts like a central database of loan and credit card information. Based on the payment records of customers it calculates a CIBIL Score and prepares a credit report which is then used by the banks to assess the loan eligibility. Given the fact that the CIBIL score is the first major deciding factor on whether you qualify for a loan or not it is imperative for you to have a good CIBIL score. Let’s understand the factors that affect your credit score.

FISDOM – an app to assist you with all your investments

April 18, 2016 5233 Views 0 comment Print

Everyone wants to invest their savings and rotate money in a right way. High Net worth Individuals has advisors to assist them in their investments while we too have a friend to assist us. Our friend’s name is ‘Fisdom’ who is just a click away in google play. Just download it and invest money to build your dream home or purchase a dream car for your loved ones.

Deemed Public Company -Subsidiary Of Public Limited Companies

April 18, 2016 152533 Views 2 comments Print

Index of Article: A. History B. Current Situation C. Deemed Public Company! How to Check? D. Restriction of Deemed Public Company: (Provisions of the act which do not apply to a public Company) E. Effects of the Become Deemed F. Compliances required to be done by a Private Company immediately after become deemed Public Company […]

MCA enables cancellation of SRN

April 18, 2016 26548 Views 10 comments Print

My account is debited on making online payment; however, corresponding challan/receipt is not generated and system does not allow filing of the form again. What should I do next? OR The payment was made but the SRN status is ‘Pending for Payment’ or ‘Not Paid’. What should I do next? You need to cancel your […]

8 Most Commonly asked Queries related to ROC Website

April 18, 2016 16234 Views 3 comments Print

Common resolutions For MCA21 related queries including Annual filings, Linked filings, Cancel SRN service, Resubmission, and Additional Fee waiver 1. Which eforms can I file as attachments with GNL-2? Annual filing eforms under the Companies Act, 1956 viz. 23AC/ACA, 23AC/ACA-XBRL, 20-B, 21-A, Form 66, I-XBRL, A-XBRL, 23B, 23C and 23D would be made available shortly […]

Distribution of Cash Benefits through Depositories

April 18, 2016 1558 Views 0 comment Print

All cash benefit distributions are being processed outside the depository system. Thus, no information is available in the demat account with respect to entitlement of cash benefits and payment of the same to the investors. In case any investor requires any information or has a complaint with respect to above benefits, they are required to approach the respective issuer companies or their Registrar & Transfer Agents (RTAs) which may be inconvenient to the investors.

CBDT Draft Rules For Grant Of Foreign Tax Credit U/s. 90/ 90A/ 91

April 18, 2016 5227 Views 0 comment Print

The Income-tax Act, 1961 (the Act) provides that the Central Board of Direct Taxes may prescribe rules specifying the procedure for grant of relief or deduction of income-tax paid in any country or specified territory outside India, under section 90/ 90A/ 91 of the Act against the income-tax payable under the Act.

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