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Notifications/Circulars

Clarification regarding maintaining register in new format-Section 186(9)

June 9, 2014 3735 Views 0 comment Print

In this connection, it is hereby clarified that registers maintained by companies pursuant to sub-section (5) of Section 372A of Companies Act, 1956 may continue as per requirements under these provisions and the new format prescribed vide Form MBP2 shall be used for particulars entered in such registers on and from 1.4.2014.

Notification No. 25/2014-Customs (ADD) Dated: 09.06.2014

June 9, 2014 18808 Views 0 comment Print

The anti-dumping duty imposed shall be levied for a period of five years (unless revoked, superseded or amended earlier) from the date of publication of this notification in the Official Gazette and shall be payable in Indian currency.

One Documentary Proof of Address – RBI further simplifies KYC Norms for Bank Accounts

June 9, 2014 2162 Views 0 comment Print

Henceforth, customers may submit only one documentary proof of address (either current or permanent) while opening a bank account or while undergoing periodic updation. In case the address mentioned as per ‘proof of address’ undergoes a change, fresh proof of address may be submitted to the branch within a period of six months.

Companies having paid up share capital of 5 crore or more shall have a whole-time company secretary

June 9, 2014 32076 Views 4 comments Print

Appointment of Company Secretaries in companies not covered under rule 8.—A company other than a company covered under rule 8 which has a paid up share capital of five crore rupees or more shall have a whole-time company secretary.

CBDT asks officers to submit proposals by email instead of submitting personally

June 9, 2014 1094 Views 0 comment Print

2. However, it is observed that certain officers are visiting CBDT personally only for submitting the proposals to the Board and that too without any prior intimation. The undersigned is directed to convey that such visits not only result in wastage of time of officers but also lead to undesirable expenditure incurred on tour. It is reiterated that the proposals and the requisite information may strictly be sent by post

Clarifications on Rules related to appointment and qualifications of directors and Independent Directors

June 9, 2014 8190 Views 0 comment Print

The matter has been examined. In view of the specific provisions of Schedule IV, appointment of ‘IDs’ under the new Act would need to be formalized through a letter of appointment.

CLB can allow further time to companies for repayment of deposits/interest in certain cases

June 6, 2014 1694 Views 0 comment Print

Until a date is notified by the Central Government under sub-section (1) of Section 434 of the Companies Act, 2013 (18 of 2013), the Company Law Board constituted in pursuance of sub-section (1) of Section 10E of the Companies Act, 1956 (1 of 1956) shall exercise the jurisdiction, powers, authority and functions of the Tribunal under sub-section (2) of Section 74 of the said Act.

Provisions of Sec 74(2) & 74(3) of Companies Act 2013 to come into force from 06.06.2014

June 6, 2014 6524 Views 0 comment Print

In exercise of the powers conferred by sub-section (3) of Section 1 of the Companies Act, 2013 (18 of 2013), the Central Government hereby appoints the 6th day of June, 2014 as the date on which the provisions of sub-sections (2) and (3) of Section 74 of the said Act shall come into force.

Companies may accept deposits without deposit insurance contract till 31.03.2015

June 6, 2014 5708 Views 0 comment Print

In view of the suggestions received from the stakeholders to give transitional period for complying with the deposit insurance requirements, the amendment in the relevant rule has been made allowing companies to accept deposits without deposit insurance for one year i.e. till 31.03.2015.

CBDT notifies India-Liechtenstein Tax info exchange agreement wef 01.04.2013

June 6, 2014 1487 Views 0 comment Print

Notification No. 30/2014-Income Tax Whereas, an agreement (hereinafter referred to as the said agreement) between the Government of the Republic of India and the Government of the Principality of Liechtenstein, for the exchange of information on tax matters was signed at Berne, Switzerland on the 28th day of March, 2013

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