Whether FDI can be brought if the minimum capitalization was not completed within the period of six months of the commencement of the project? No new FDI can be brought in the project if the minimum capitalization of US $ 5 million has not been achieved within six months of commencement of the project. If such minimum capitalization was achieved, FDI can be brought in till the period of 10 years or the completion of the project, whichever is earlier.
As per companies act, 1956 sec 621A was applicable for compounding of offences and as per companies act, 2013 sec 441 is applicable. Only offences punishable under this act (i.e. companies act) WITH FINE ONLY can be compounded.Offences punishable with Fine or imprisonment Or Fine or imprisonment or both Compoundable with permission of Court
Review of Foreign Direct Investment (FDI) policy on Insurance Sector‑ amendment to ‘Consolidated FDI Policy Circular of 2014’. 1.0 Present Position: 1.1 Paragraph 6.2.17.7 of ‘Consolidated FDI Policy Circular 2014’, effective from April 17, 2014, relating to insurance sector, presently reads as below:
Notification No. 23/2015 – Income Tax In exercise of the powers conferred by sub-sections (9) and(9A) of section 92CC read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:
Important notice: Income Tax Department sending notices for non-filing of Income Tax Return for Assessment Year 2013-14. Find out the steps to comply.
Decisions of High Court and CESTAT against which Board has decided not to file Special Leave Petition or Civil Appeal in Supreme Court
Trading of Shares Through Smart Phones More Than Doubled in 2014-15 (Till February 2015) as Compared to Last Year (2013-14) Trading of shares through smart phones has increased. The Securities and Exchange Board of India (SEBI) permitted securities trading using wireless technology vide its circular dated August 27, 2010. The said circular deals with trading […]
Two new Customs Ports, Kattupalli Port and APM Terminals, Pipavav Port are being added to the list of 12 existing ports/ICDs, thereby taking the total number of ports/ICDs to 14, for importing new vehicles.
In exercise of powers conferred by Section 5 and Section 14 A of the Foreign Trade (Development & Regulation) Act, 1992 {FT(D&R) Act,1992} as amended, the Central Government hereby makes the following amendments to the list of specified goods, services and technologies, i.e. Special Chemicals, Organisms, Materials, Equipment and Technologies (SCOMET) that was notified vide Notification No.37 (RE-2012)/2009-2014 dated 14th March, 2013 and amended vide Notification No.26 (RE-2013)/2009-2014 dated 3rd July, 2013.
Major Highlights of the Insurance Laws (Amendment) Bill, 2015 Passed by Parliament; Provides for Enhancement of the Foreign Investment Cap in an Indian Insurance Company from 26% to an Explicitly Composite Limit of 49% with the Safeguard of Indian Ownership and Control;
