Insurance: Anti-Money Laundering/Counter-Financing of Terrorism (AML/CFT) Guidelines CIRCULAR NO. IRDA/F&I/CIR/AML/180/11/2010, DATED 12-11-2010 The Authority has reviewed the AML/CFT guidelines to align certain stipulations with that of the 40+9 Recommendations of the Financial Action Task Force (FTAF). Accordingly, the following additional stipulations/clarifications are issued for compliance. Sl. No. Clause Ref. in Master Circular 2010 on AML/CFT […]
It has been decided to revise the additional fees payable as per Section 611(2) of the Companies Act, 1956 (except for Form 5) as per below details with effect from 5th December 2010 :-
To intimate discrepancy if any found in show cause notice by MCA. Show-cause Notices were issued to a number of defaulting companies. Ministry has undertaken a massive drive to cleanse the MCA21 Registry, as it was found that a number of companies who were in the old Registry are not filing their documents in the MCA21 system. Accordingly, computer generated Show-cause Notices were
The assessee, a statutory body established under the Chartered Accountants Act 1949 for regulating the profession of Chartered Accountants, obtained exemption u/s 10(23C)(iv) pursuant to a notification issued by the CBDT. The notification provided that the exemption would not apply to profits and gains of business unless the business was incidental to the attainment of the objectives of the assessee and separate books of accounts were maintained.
Concerned over revenue leakages, Finance Minister Pranab Mukherjee today asked the government auditor CAG to suggest corrective measures for raising tax and non-tax receipts. “…I would like the CAG (Comptroller and Auditor General) to analyse the a
Indirect tax collection of the government for the first seven monthsof this financial year (April-October) was up 42% to Rs 1.80 lakh crore, an indication that the industrial growth in the country might gather steam in the coming months. “Total reven
The Madurai Bench of the Madras High Court has rejected a claim on motor vehicle insurance policy as the insurer had not effected transfer of the policy according to Section 157 of the Motor Vehicles Act. Hearing a writ petition from Ms S. Selvi, wif
Stock brokers will now have to pay more service tax. The Central Board of Excise & Customs (CBEC) has clarified that turnover charges, exchange transaction charges, dematerialisation charges and regulator fees recovered by brokers from clients will b
As you are aware, the new National Permit System has been made effective from 8.5.2010 in accordance with Central Motor Vehicle(amendment)Rules,1989 notified on 7.5.2010. Electronic system of grant of National Permit has been developed in consultation with MC and it has now been decided to implement the electronic system w.e.f. /5.9.2010.
Government auditor CAG has pulled up the telecom ministry for not recovering Rs 679 crore as penalty or liquidated damages from six new operators for missing the network roll-out schedule as per the licence. Out of 122 Unified Access Service (UAS) li
