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MVAT – Dealers to file Annexures J1 and J2 before submitting Return for the period starting from 01-04-2014

March 25, 2014 216629 Views 38 comments Print

This circular is being issued to facilitate dealers to make necessary changes in their systems so as to accustom them to file annexures and returns by the due dates she filing of annexures of sales and purchases has been proposed to be made mandatory soon.

Checklist of applicable sections- Private Limited Company- Companies Act 2013

March 25, 2014 69962 Views 0 comment Print

With 99 sections of Companies Act, 2013 already notified and more to follow in the near future, it’s time for private companies in India to get started with the understanding of the Act and the possible implications, it can have on the functioning of their Companies, more so when we know that the new Act is rigid on private companies.

Provide Copy of Credit Rating Free to Borrowers – RBI Committee

March 25, 2014 2284 Views 1 comment Print

The Committee has further suggested that providing customers with a free copy of their CIRs would help create awareness about the need to have credit discipline, enable customers to correct their behaviour and improve their score well before they plan to avail fresh credit of any kind, help detect identity theft at an early stage, help CICs correct and validate their database and increase their business in the long run.

RBI announces ‘Foreign Portfolio Investment’ scheme for FIIS and QFIs

March 25, 2014 1913 Views 0 comment Print

The extant guidelines for Portfolio Investment Scheme for Foreign Institutional Investor (FII) and Qualified Foreign Investor (QFI) have since been reviewed and it has been decided to put in place a framework for investments under a new scheme called ‘Foreign Portfolio Investment’ scheme.

Delhi VAT – Reg. VAT exemption/refund to High Commission of the Republic of Malawi

March 25, 2014 717 Views 0 comment Print

To grant facility of VAT exemption/refund to High Commission of the Republic of Malawi in favour of official purchases as well as personal purchases of its diplomats and Mahatma Gandhi Institute of Education for Peace and Sustainable Development (MGIEP) in New Delhi on purchase of goods

SEBI prescribes Format of Audit Report to be submitted with draft Scheme of amalgamation / merger / reconstruction, etc.

March 25, 2014 2735 Views 0 comment Print

Clause 24(i) of the Listing Agreement requires that the company, while filing for approval of any draft Scheme of amalgamation / merger / reconstruction, etc. with the stock exchange under Clause 24(f), shall also file an auditors’ certificate to the effect that the accounting treatment contained in the scheme is in compliance with all the Accounting Standards specified by the Central Government in Section 211(3C) of the Companies Act, 1956.

Prayer and Gratitude for all occasions – For Happy and Purposeful life

March 24, 2014 664 Views 0 comment Print

It is also universally accepted now that a Supreme Intelligence is regulating or controlling the affairs of the Cosmos. We may call this Intelligence by any name like God, Rama, Krishna, Jesus, Allaha, etc. The universally accepted fact now is that God is an energy. Therefore, the Intelligent and Animate energy which is regulating or controlling the affairs of the Cosmos may be accepted a God.

SEBI : Enhancing disclosures, investor education & awareness campaign, developing alternative distribution channels for Mutual Fund products, etc.

March 24, 2014 1072 Views 0 comment Print

Since the investments in short term deposits of scheduled commercial banks is allowed pending deployment of funds of a scheme the same shall also be excluded while calculating sector exposure.

Section 54F requires only the assets to be purchased within specified time, date of booking / payment not relevant

March 24, 2014 6488 Views 0 comment Print

Authorised Representative submitted that as per section 54F(1), the only condition required to be satisfied for the assessee to avail the exemption thereunder was that the assessee should within a period of one year before or two years after the date of transfer

CBEC to promote Additional Commissioner/DC – Delay due to ACRs

March 24, 2014 1328 Views 0 comment Print

However, the whole process of DPC is getting delayed due to deficiency of ACR folders of officers. In this regard, attention is drawn to DOP&T’s OM No,,21011/02/2009-Estt. dated 16.02.2099 which emphasizes on timely completion and maintenance of ACRs within the prescribed time period. The OM also elaborates procedure for appending the No Report Certificate in cases where the ACR is not available

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