Government of India has, in exercise of the powers conferred under Section 28A of the Chartered Accountants Act, 1949, constituted a Quality Review Board (the ‘Board’) to perform the following functions u/s 28B of the Chartered Accountants Act, 1949:-
In many cases the proposals for filing SLP are being sent to the Board much after the time limit of 15 days available with the Commissionerate is over. In fact in some cases such proposals have been received in the Board after the time limit of 90 days is over. Such delays result in the dismissal of SLPs on the grounds of delay.
It has been decided to enhance the limit for investment by FPIs in Government Securities, for the next half year, as follows: a. Limit for FPIs in Central Government securities shall be enhanced to INR 140,000 cr on April 04, 2016 and INR 144,000 cr on July 05, 2016 respectively from the existing limit of INR 135,400 cr.
This circular is issued with an objective to streamline the provisions of the facility of client code modification at commodity derivatives exchanges in line with the securities market. It is also beingre-emphasized here that this facility is expected to be used more as an exception rather thana routine
All other existing conditions, including the security-wise limits, investment of coupons being permitted outside the limits and investments being restricted to securities with a minimum residual maturity of three years, will continue to apply.
As per the FDI policy, contained in the `Consolidated FDI Policy Circular 2015′ (FDI Policy) as amended from time to time, FDI up to 100% under automatic route is permitted in Business to Business (B2B) e-commerce. No FDI is permitted in Business to Consumer (B2C) e-commerce. However, FDI in B2C e-commerce is permitted in following circumstances:
This circular applies to National Commodity Derivatives Exchanges (Exchanges) as defined in the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2015.
I am a customer of PACL. What should I do? Ans. Vide public notice dated 05.03.2016 customers of PACL have been cautioned to keep original documents with themselves. The same may be given to constituted Committee or designated authority upon specific intimation by Committee inviting claims from the customers of PACL. Submission of original documents is compulsory for claiming refunds without which no refund claims shall be entertained.
Deputy Chief Minister of Delhi Manish Sisodiya presented the Annual Budget for 2016-17 in Assembly on 28.03.2016 and rationalisesd VAT and Other Duties which may result in reduction in prices of readymade garments, shoes, watches and electric and hybrid vehicles. In this Article we have covered Highlights of Changes related to Taxes/ Duties and Extract of his Budget Speech related to Changes in Tax and Duty Structure.
RBI has issued instructions vide notification RBI/2015-16/342 dated March 17, 2016 wherein it has been decided that all agency banks shall keep the counters of their designated branches conducting government business open for full day on March 30, 2016, and till 8.00 p.m. on March 31, 2016. All electronic transactions would, however, continue till midnight of March 31, 2016.
