CBDT has notified Income-tax (3rd Amendment) Rules, 2013 vide NOTIFICATION NO. 34/2013 [F.NO.142/5/2013-TPL]/SO 1111(E), DATED 1-5-2013.Under these rules ,various rules regarding Income tax return for assessment year has been amended. It is mandatory to file audit reports u/s 44AB, 92E, 115JB through online facility .once the information is filled with such forms. It would not […]
Central Government hereby notifies Iran under paragraph 2.35 (b) of Foreign Trade Policy, 2009-2014. Accordingly, exports of such goods to Iran which have been imported against payment in freely convertible currency would be permitted against payment in Indian Rupees also, subject to at least 15% value addition.
Notification No. 41/2013 – Income Tax The CBDT has notified vide Notification No. 41 dated 10 June 2013, new Form 3CEB which includes reporting on specified domestic transactions. The said notification also amends Rule 10A, 10AB, 10B, 10C, 10D and 10E. Following are the additional international transactions required to be reported in new Form 3CEB: International transaction(s) in the nature of guarantee
Based on the findings of the scrutiny, the Reserve Bank issued a show cause notice to each of these banks, in response to which the individual banks submitted written replies. After considering the facts of each case and individual bank’s reply, as also, personal submissions, information submitted and documents furnished, the Reserve Bank came to the conclusion that some of the violations were substantiated and warranted imposition of monetary penalty as determined above.
A company normally enters into transactions with other companies or firms which are known as related party transactions. Section 297 is in respect of Board’s sanction to be required for certain contracts in which particular directors are interested. Section 299 relates to disclosure of interest by directors. Under Companies Act compliance of Section 297 appears […]
CLARIFICATION ON QUERIES OF PROSPECTIVE INVESTORS/ STAKEHOLDERS ON FDI POLICY FOR MULTI-BRAND RETAIL TRADING (Paragraph 6.2.16.5 of ‘Circular 1 of 2013-Consolidated FDI Policy’) Following issues are under consideration: i. Sourcing restriction amongst ‘group companies’. ii. Requirement of 50% investment in ‘backend infrastructure’ within three years of the first tranche of FDI. iii. Requirement of 30% […]
The Honble Deputy Chief Minister and Finance Minister in Budget Speech delivered on 20th March 2013 made announcements to exempt, reduce or enhance the tax in respect of certain goods. To give effect to the Budget proposals, the Schedules A, B, C and D appended to Maharashtra Value Added Tax Act, 2002 are amended with effect from 1st April 2013.
Important Announcement BoS/ Announcement/ 227/2013 June 7, 2013 Sub: Treatment to be given to papers with different nomenclatures and marks spread over the entire duration of graduation / post graduation course for the purpose of admission to the CA Course under Direct Entry Scheme. ————- The Council in order to mitigate the hardship being faced […]
On a review, it has been decided that the banks should also subject the title deeds and other documents in respect of all credit exposures of ` 5 crore and above to periodic legal audit and re-verification of title deeds with relevant authorities as part of regular audit exercise till the loan stands fully repaid.
The Reserve Bank of India has cancelled the certificates of registration granted to the following companies on supervisory grounds, having their registered offices at the address shown against them, for carrying on the business of a non-banking financial institution. Following cancellation of the registration certificate the companies cannot transact the business of a non-banking financial institution.
