The issue is no longer res integra as it has been held by Hon’ble ITAT Mumbai in case of Bennet Coleman & Co. Ltd. Vs ITO(TDS) [ITA No. 7315/Mum/2008] pronounced on 12-11-2014 wherein the assesse (Times of India) has entered into an agreement with M/s FERAG AG for supply of heavy plant and machinery along […]
The legislature in their wisdom decided to plug loopholes of the erstwhile Companies Act, 1956 by inclusion of various new provisions to prevent frauds in the Companies Act, 2013 which were not a part of the erstwhile Companies Act. The noble intention behind bringing new preventive provisions is to bring more transparency in day to […]
With a view to providing greater flexibility to the ECB borrowers in structuring draw down of ECB proceeds and utilisation of the same for permitted end uses, it has been decided to permit AD Category -I banks to allow eligible ECB borrowers to park ECB proceeds (both under the automatic and approval routes) in term deposits with AD Category- I banks in India for a maximum period of six months pending utilisation for permitted end uses.
Finance Minister asks the Bankers to Work in a Professional Manner Without any Fear or Favour ;FM Directs Bankers to Increase flow of Credit to Various Sectors and take Steps to Reduce their NPA; Says That Global Growth is Patchy but Foreign Investors Showing Keen Interst in Investing in India
The Reserve Bank has once again cautioned members of public that falling prey to such offers can result in compromising one’s own crucial personal information that may be misused to cause direct financial and other loss to them. They, in their own interest, should refrain from responding to such offers in any manner. Rather, they should immediately lodge a complaint with Cyber Crime branch of the Police, the contact details of which are available in the Reserve Bank’s press release issued earlier (Complain to Local Police/Cyber Crime Authorities against Fictitious Offers of Money from Abroad).
Instruction No. 83 Dated 21st November, 2014 Representations have been received in this Department that despite issue of default list of authorised services by DoC, the SEZ Developers and Units are forced to apply, a fresh to UAC even for those authorized services which are already approved earlier by the UAC for the said Developers/Units.
A.P. (DIR Series) Circular No. 38 Dated- November 20, 2014 Attention of Authorised Dealers in Foreign Exchange is invited to Foreign Exchange Management (Acquisition and Transfer of immovable property in India) Regulations, 2000 notified vide Notification No. FEMA 21 /2000-RB dated 3rd May 2000 as amended from time to time.
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance
A.P. (DIR Series) Circular No. 37 Dated- November 20, 2014Export of Goods / Software / Services – Period of Realisation and Repatriation of Export Proceeds – For exporters including Units in SEZs, Status Holder Exporters, EOUs, Units in EHTPs, STPs and BTPs
Instead of levying penal charges for non-maintenance of minimum balance in ordinary savings bank accounts, banks should limit services available on such accounts to those available to Basic Savings Bank Deposit Accounts and restore the services when the balances improve to the minimum required level.
