A mutual fund scheme shall not invest more than 10% of its NAY in debt instruments comprising money market instruments and non-money market instruments issued by a single issuer which are rated not below investment grade by a credit rating agency authorised to carry out such activity under the Act. Such investment limit may be extended to 12% of the NAY of the scheme with the prior approval of the Board of Trustees and the Board of Directors of the asset management company:
Whereas the Central Government is satisfied that to leverage combined assets, capital and reserves, achieve economy of scale, efficient administration, gainful settlement of rights and liabilities of stakeholders and creditors and to consolidate businesses, ensure co-ordination in policy, it is essential, in the public interest, that the Financial Technologies (India) Limited, a company incorporated under the Companies Act, 1956
Notification No. 04/2016-Central Excise (N.T.) Central Government hereby direct that the whole of the duty of excise payable under section 3 of the said Act on the said goods but for the said practice, shall not be required to be paid in respect of the said goods on which the said duty of excise was not levied during the period aforesaid in accordance with the said practice.
Trade Notice No. 18/2016 s IEC applications in manual mode will only be accepted till 31.3.2016, henceforth applicants seeking IEC through manual mode are required to submit their application in the format notified vide Public Notice no 58 dated 1.2.2016 along with signatory applicant’s photograph and only the two documents, as indicated above.
A man of great vision, strong integrity and hard discipline with a firm belief in the inclusive growth of accountancy profession, CA. M. Devaraja Reddy has taken over as the supreme torch-bearer of Indian accountancy profession. He has been elected President of The Institute of Chartered Accountants of India (ICAI), for the year 2016-2017 by the 23rd Council of the Institute on 12th February 2016.
In an era of zealous consumers wanting everything at the drop of a hat, we see a number of new start-ups mushrooming everyday with their unique and ingenuous ideas. We recently met the founderts of one such start-up that made us explore quite an interesting proposition. The start-up offers various items of clothing on rent to its customers including casual wear, party wear and designer wear which, for valuable consideration, are rented out to the customers for fixed number of days.
1.What is an overseas JV? 2. What is meant by wholly-owned subsidiary, first level subsidiary and second level subsidiary? 3. How can direct investments (DI)/ financial commitments (FC) in overseas wholly owned subsidiaries/JVs be made? 4. What are the conditions to be followed to invest or give FC in overseas JVs and WOS? 5. What is the overall exposure limits?
This write up deals with 1. What is start up? 2. Is this the same as we start up any new venture to get eligible for benefits of the government? 3. Difficulties or tough road for taking benefits under Govt Start up India Action Plan 4. Income Tax exemptions for 3 yrs for Startups 5. Appreciable Notings on Startup India Action Plans
(i) Whether by a unilateral amendment in the Income Tax Act, an interpretation of the same term in the Double Taxation Avoidance Agreement can be changed? (ii) Whether by merely terming an amendment as ‘clarificatory’ and making it retrospective infact renders its retrospectivity valid in law?
In exercise of the powers conferred by Rule 61 of the Maharashtra Value Added Tax Rules, 2005, the Government of Maharahstra, hereby notifies that, for the purposes of the said rule, the Bank Guarantee shall be obtained from any of the following Private Sector Banks, with effect from the 12th February 2016, namley
