There may be situations where the clients of banks may like to reduce the notional exposure of the hedging derivative contract. In such cases, banks may partially or fully terminate the contract before maturity, at their discretion, thereby reducing the notional exposure of the contract. This reduction in notional exposure would not be treated as re-structuring of the derivative contract provided all other parameters of the original contract remain unchanged.
3. At present, minimum Median Quarter Sigma Order Size (MQSOS) requirement for a stock to be eligible for introduction in derivatives segment is 5 Lakh. It has been decided to revise this minimum MQSOS requirement to 10 Lakh. Thus, in Para ‘3.1.2.b’ of the master circular, for the letters and figures Rs. 5 Lakh (Rupees Five Lakh), the following letters and figures shall be substituted, namely 10 Lakh.
A facility of E-Passbook to EPF Members has been devised by the IS Division, Head Office through Member Portal on EPFO website. The EPF Members can directly approach the EPFO website and after entering certain necessary details, they can get themselves registered. The registered EPF Members can obtain E-Passbook after entering Establishment Code/Extn. (if any) / Employee Number and Name as per PF slip.
NOTIFICATION NO 64/2012 – Customs, (N T), Dated: July 23, 2012 Central Board of Excise and Customs, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 83/2004-Customs (N.T.), dated the 30 th June, 2004, published in the Gazette of India, vide number G.S.R . 393 (E), dated the 30 th June, 2004, namely:-
NOTIFICATION NO 63/2012 – Customs, (N T), Dated: July 23, 2012 Appointment of Common Adjudicating Authority in respect of the Additional /Joint Commissioner of Customs (Import), Air Cargo Complex, Sahar Mumbai; and the Additional/Joint Commissioner of Customs, Custom House, Opp. Ild High Court, Navrangpura, Ahmedabad.
NOTIFICATION NO 62/2012 – Customs, (N T), Dated: July 23, 2012 Appointment of Common Adjudicating Authority in respect of the Joint /Additional Commissioner of Customs, Inland Container Depot, Tughlakabad, New Delhi, the Assistant / Deputy Commissioner of Customs, ICD, Patparganj, New Delhi; and the Assistant / Deputy Commissioner of Customs, ICD, Sabarmati,.
The Central Government has notified the Factoring Regulation Act, 2011 on January 22, 2012. The Act aims to regulate Factors and assignment of receivables in favour of Factors, as also delineate the rights and obligations of parties to assignment of receivables. Under the Act, factoring companies other than banks, Government companies etc. (as provided in Section 5 of the Act) would be registered with the Reserve Bank as NBFCs and would be subject to prudential regulations by the Reserve Bank. In accordance with the above, it has been decided to introduce a new category of NBFCs viz; Non-Banking Financial Company–Factors and issue separate Directions to them.
.O. (E) In exercise of powers conferred by Section 5, read along with Section 3(2) of the Foreign Trade (Development and Regulation) Act, 1992, read with paragraph 2.1 of Foreign Trade Policy, 2009-14, the Central Government hereby makes the following amendment in the Schedule 1 – Import Policy of the ITC (HS), 2012.
as per these rules, information is to be filed in Form 5 INV. The cut-off date for filing information in Form 5 INV refers to the date of AGM upto which the information relating to a particular year is to be updated and then filed. Example: for the financial year ended 31.03.2012, where date of AGM is 30.09.2012, the complete information regarding unpaid and unclaimed
Central Board of Direct Taxes (CBDT) vide its Notification No. 9/2012 dated 17th February, 2012 has exempted salaried employees from the requirement of filing the returns for assessment year 2012-13. The exemption is applicable only if all the following conditions are fulfilled:- • Employee has earned only salary income and income from savings bank account and the annual interest earned from savings bank account is less than Rs. 10 thousand. • The total Income of the employee does not exceed Rs. 5 Lakh (Total Income means Gross Total Income Less deductions under Chapter VIA).
