I am directed to invite your attention to notification No. 12/2012-Central Excise (S. Nos. 337&338), dated 17-03-2012, which provides exemption to machinery, instruments, apparatus and appliances etc. required for setting up of ultra-mega/ mega power projects.
The Finance Act, 2011 for the first time introduced the provisions relating to Alternate Minimum tax for the Limited Liability partnerships. In order to moderate the outgo of profit linked deductions, the Finance Minister in the year 2012, extended the levy of this tax to all non corporate assesses. The onerous responsibility to verify the […]
No Cause for Panic due to Currency Market Volatility; Government has No Intention to Introduce Any Capital Controls: FM The Union Finance Minister Shri P. Chidambaram said that revival and encouragement of growth will continue to be the focus of the Government. Shri Chidambaram said that stronger growth will, in course of time, alleviate many […]
Please refer to our Circular DBOD.No.BP.BC.92/21.04.141/2012-13 dated May 15, 2013 on ‘SLR Holdings under Held to Maturity Category’ in terms of which banks are permitted to exceed the limit of 25 per cent of total investments under the Held to Maturity (HTM) category provided:
The Government has said that the reports appearing in a section of media indicate that a Section 25 Company, “Thought Arbitrage Research Institute” has published a study indicating inter alia occurrence of frauds in companies due to factors like inadequate internal control procedures, diversion of funds by promoters/ top management, failure of audit in detection […]
Fast Track Exit Mode for Defunct Companies The Ministry of Corporate Affairs launched “Fast Track Exit Mode” on 03.07.2011 to provide an opportunity for defunct companies under Section 560 of the Companies Act, 1956 for getting their names struck off from the register of companies, to facilitate the exit of such defunct companies without getting […]
In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs hereby makes the following further amendments in the Notification of the Government of India, Ministry of Finance
Scrutiny of NBFCs to Determine that they are not Crossing their Mandate The Ministry of Corporate Affairs has recently forwarded a list of 34,754 companies which are registered under the Companies Act, 1956 and classified / categorised as “Non- Banking Financial Companies” (NBFCs) in the records of Ministry of Corporate Affairs and these companies may […]
Notification No. 65/2013 – Income Tax (i) The sums paid to the approved organization shall be utilized for scientific research; (ii) The approved organization shall carry out scientific research through its faculty members or its enrolled students; (iii) The approved organization shall maintain separate books of account in respect of the sums received by it for scientific research, reflect therein the amounts used for carrying out research, get such books audited by an accountant as defined in the explanation to sub-section (2) of section 288
Rajya Sabha on 8th August gave its nod to Companies Bill, 2013 which is the first major overhaul of Company law in more than 50 years. Now, India will have a brand new company’s law which is more effective and appropriate for this era and its challenges.
