Circular No. 4/2009-Income Tax Section 195 of the Income-tax Act, 1961 mandates deduction of income tax from payments made or credit given to non-residents at the rates in force. The Reserve Bank of India has also mandated that except in the case of certain personal remittances which have been specifically exempted, no remittance shall be made to a non-resident unless a no objection certificate has been obtained from the Income Tax Department.
Circular No. 113/7/2009-ST The Working Group on Central Excise and Service Tax re-engineering, constituted by the Board has prepared a Return Scrutiny Manual for Service Tax (RSMST). The said manual has been approved by the Board and a copy of the same is enclosed herewith (not printed).
Representations have been received in this office stating that, in case they submit the original sales contract stipulating the above condition to Customs, there are chances of their commercially sensitive information being divulged. The matter has been examined in the Deptt. and accordingly it is clarified that import contract mentioned at Para 2.32 of HBPv1 and in the above mentioned Public Notice shall also include a separate contract(other than the original sales contract) between importer and exporter stating the above cited provisions.
The powers for grant of Administrative Relief in respect of Acts administered by the Sales Tax Department mentioned in the Government Resolution referred to at Sr.No.2 above were delegated by the Commissioner of Sales Tax to the authorities vide Trade Circular No.68T of 2007 dated 26/11/2007 and Trade Circular No.14T of 2009 dated 18/4/2009.
All stock exchanges are advised to bring to the notice of all the listed companies and issuers seeking listing of their convertible debt securities.
Portfolio Managers shall also maintain an accounting system containing separate client-wise data for their funds and provide statement to clients for such accounts at least on monthly basis.
In view of the above, all Registrar of the Companies are requested to make a prayer before the Hon’ble Court to pass an order under section 614A(1) of the Act, while deciding the cases for violations of Provisions of Section 159/220 of the Companies Act, 1956 so that action as contemplated under penal provisions of section 614A(2) of the Companies Act,1956 could be taken against the accused directors of the companies.
Since the underlying shares are allotted in the name of Overseas Depository Bank, the name of such Overseas Depository Bank is to be entered in the Register of Members of the issuing company.
SEBI received suggestions from market participants to modify the said Model Listing Agreement so as to align it with the listing requirements of the issuers’ home country so that there is no additional regulatory or cost burden to the issuers.
The following normative documents contain provisions which, through references in this text, constitute provisions of this part of ISO 8124. For dated references, subsequent amendments to, or revision of, any of these publications do not apply. However, parties to agreements based on this part of ISO 8124 are encouraged to investigate the possibility of applying the most recent editions of the normative documents indicated below.
