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Principles of Financial Market Infrastructures (PFMIs) Background – SEBI

September 4, 2013 616 Views 0 comment Print

An FMI should have clear and comprehensive rules and procedures and should provide sufficient information to enable participants to have an accurate understanding of the risks, fees, and other material costs they incur by participating in the FMI. All relevant rules and key procedures should be publicly disclosed.

MCA invites comments from member on stopping payment through phyical Challan

September 3, 2013 1048 Views 0 comment Print

NOTICE The Ministry had reviewed the processes involved in delivery of important services to stakeholders and with a view to improving service delivery time, decided to accept payments of value upto Rs. 50,000/- for MCA21 services only in electronic mode w.e.f. 27.3.2011. It was also intimated in the same circular No. HQ/9/2002-Computerisation dated 9th March, […]

SEBI – Index based market-wide circuit breaker mechanism

September 3, 2013 826 Views 0 comment Print

Please refer to SEBI circular SMDRPD/Policy/Cir-37/2001 dated June 28, 2001 directing stock exchanges to implement an index based market wide circuit breaker system to affect a coordinated trading halt in all equity and equity derivative markets on index movement either way of 10%, 15% and 20%.

Relaxation of last date and additional fee in filing of e-Form 23C for Appointment of Cost Auditor

September 3, 2013 1474 Views 0 comment Print

It has now been decided to extend the last date of filing and to relax the additional fee applicable on e-form 23C up to 31′ October, 2013 and as such the e-form 23C can be filed for appointment of cost auditor with normal applicable fee, up to 31St October, 2013 or within 90 days of the commencement of the company’s financial year to which the appointment relates, whichever is later.

Presidents gives Assent to Companies Act, 2013

September 3, 2013 306247 Views 2 comments Print

The Companies Bill, 2013 Receives the Assent of the President Published in the Gazette of India as Act No. 18 of 2013 The historic new Company Law in the country has been enacted with the President of India giving his assent to the Companies Bill, 2013. It has now been published in the Gazette of […]

Corporate Social Responsibility and Sustainability Provision for Central Public Sector Enterprises

September 3, 2013 1649 Views 0 comment Print

The Department of Public Enterprises (DPE) has issued guidelines on Corporate Social Responsibility (CSR) and Sustainability for Central Public Sector Enterprises (CPSEs) in April, 2013 wherein each CPSE shall, with the approval of its Board of Directors, make a budgetary allocation for CSR and Sustainability activities/projects for the year.  Giving this information in written reply […]

Tax Audit Problems & Solutions – Technical & Other Issues

September 3, 2013 121257 Views 20 comments Print

What are operating system and runtime environment requirement for E-filling of Tax Audit Report? Our system becomes very slow during working on e-utility. What should we do? I am unable to register as CA as there is difference in name/date of birth as per ICAI and PAN data. What to do?

No Municipal / BMC Permission Required For use of Part of Premises for Professional Practice

September 3, 2013 15871 Views 4 comments Print

Appellant could not point out any provision under which the plaintiff is required to seek prior permission for running medical dispensary with only outpatient treatment facilities without any indoor work in her residential flat, more particularly, when the whole flat is being used for residential purpose and medical dispensary is being run in an area less than 30 sq.mtr.

Service Tax Voluntary Compliance Encouragement Scheme (VCES)

September 3, 2013 2690 Views 0 comment Print

CA Tarannum Khatri VCES means gift to taxpayers by finance minister. Voluntary pay your tax and get many benefits. Period: 1st October  2007 to 31st  December  2012 Eligibility: The person who has not received notice or order of determination u/s 72, 73 or 73A on or before 1st march 2013 is eligible under the scheme. […]

Settlement of Claims of Deceased Depositor – Simplification of Procedure – Placing of claim forms on bank’s website

September 3, 2013 1773 Views 0 comment Print

Please refer to circular DBOD.No.Leg.BC.95 /09.07.005/2004-05 dated June 09, 2005 wherein simplified procedure has been specified for settlement of claims of deceased depositors. We have been receiving feedback from public that banks are not following the simplified procedure as advised in the circular.

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