An Application Shall be made in Form DIR-3 pursuant to Section 153 & 154 of the Companies Act, 2013 by the person who wish to apply for the same and such form shall be filed with MCA online along with Verification of Language as mentioned in Form DIR-3
Till the issuance of final instructions on MDR for debit card transactions, the extant instructions issued vide our circular dated December 16, 2016 shall continue.
RBI has today advised users of Pre-paid Payment Instruments (PPIs), including mobile and electronic wallets, that only non-bank entities authorised by RBI under Payment and Settlement Systems Act, 2007 (the Act) can issue PPI wallets for purchase of goods and services from third parties and money transfer within India.
Attention of Authorized Persons is invited to the A.P. (DIR Series) Circulars No. 20, 22 and 24 dated November 25, 2016, December 16, 2016 and January 3, 2017 respectively, permitting foreign citizens (i.e. foreign passport holders) to exchange foreign exchange for Indian currency notes up to a limit of Rs. 5000/- per week till January 31, 2017.
It has been decided to assign the lead bank responsibility of districts hitherto held by the Associate banks to State Bank of India. Accordingly, lead bank responsibility is assigned as follows:
As per the Gazette of India Notification G.S.R. 157 (E) dated February 22, 2017, the merger of State Bank of Hyderabad with State Bank of India has been notified. The Order called the Acquisition of State Bank of Hyderabad Order, 2017 comes into effect on April 1, 2017.
Functionality for processing Paper ITRs filed for AY 2016-17 in Forms ITR-1, 2, 2A and 4S will be available w.e.f. 04.2017 in Income Tax Business Application (ITBA).
It is held that the receipts in the hands of the employees of the HPF, pursuant to the severance package announced by the Central Government and intimated vide proceedings/circular is held to be a special privilege/protection granted to the employees of the HPF Ltd and therefore, the provisions of the Section 10(10B) of the Income Tax Act, 1961 are attracted and accordingly, the same shall not fall within the definition of income, while computing the total income of concerned employee and income tax cannot be deducted from the severance package paid to the employees of HPF.
The prevailing situation in the courts are a real eye-opener and ironically it is one of the reasons for pendency of about 2.5 crores cases in subordinate courts. The Supreme Court had consistently been declaring that advocates do not have a right to call for strikes and held that the lawyers strikes are illegal and that effective steps should be taken to stop the growing tendency.
After issuance of the Public Notice No. 63 dated 27.03.2017, a number of representations have been received seeking clarification on this Public Notice. Accordingly, the followings are clarified:
