Date : 29 Aug 2011 – The Reserve Bank of India released on its website today, the Draft Guidelines for “Licensing of New Banks in the Private Sector”. The Reserve Bank has sought views/comments on the draft guidelines from banks, non-banking financial institutions, industrial houses, other institutions and the public at large. Suggestions and comments […]
Keeping in view the recommendations made by Vepa Kamesam committee, it is proposed to give statutory recognition to SFIO. Besides, powers such as treating its investigation report as a report filed by a Police Officer, giving SFIO power to issue letter of requests (letter Rogatory) in cases involving companies having business/interest outside the country and definition of the term ‘fraud’ alongwith its punishment are also proposed to be included, subject to due approvals, in the revised Companies Bill for strengthening its enforcement framework.
The concept of Independent Director has been proposed in the Companies Bill, 2009. Clause 147 of the Bill, provides for duties of directors which include the duty to act in good faith in best interest of company, to act with due and reasonable care, skill and diligence, to avoid any conflict of interest, to desist from achieving any undue gain or advantage. These duties would also be applicable for independent directors.
The Union Finance Minister Shri Pranab Mukherjee said that India’s robust performance in difficult times shows that we could actually come out stronger from any international financial crisis. The Finance Minister said that we have to be alert to shape real-time policy responses, reform systems, improve the regulatory framework of our institutions and make the most of the opportunities coming our way.
The Reserve Bank of India today placed on its website the Report of the Working Group on the Issues and Concerns in the NBFC Sector, chaired by Smt. Usha Thorat, Director, Centre for Advanced Financial Research and Learning (CAFRAL). Other members of the Group were Sanjay Labroo, Rajiv Lall, Bharat Doshi, Pratip Kar and Uma Subramaniam (Member secretary). Comments on the Report may please be emailed or forwarded by end-September 2011 to the Chief General Manager-in-Charge, Department of Non-Banking Supervision, Reserve Bank of India, Central Office, WTC, Cuffe Parade, Mumbai 400 005.
Central Board of Direct Taxes, Ministry of Finance, Department of Revenue has released the revised proforma for monthly report of disposal of appeals by CIT(A).
Download Section 89(1) Automatic Arrears Relief Calculator for West Bengal Govt Employees alongwith Form 10E and its annexures in excel format.
Income Tax Rates (For Individuals, HUFs, Association of Persons, Body of Individuals) ASSESSMENT YEAR 2011-2012 RELEVANT TO FINANCIAL YEAR 2010-2011 I TAX RATES FOR INDIVIDUALS OTHER THAN II & III BELOW Upto 1,60,000 – Nil 1,60,000 to 5,00,000 – 10% of the amount exceeding 1,60,000 5,00,000 to 8,00,000 – Rs.34,000 + 20% of the […]
Income Tax Rates Chart (For Individuals, HUFs, Association of Persons, Body of Individuals) for A.Y. 2010-11 and F.Y. 2019-10
Income Tax Rates Chart (For Individuals, HUFs, Association of Persons, Body of Individuals) for A.Y. 2009-10 / F.Y. 2008-09
