NC Notification No.86/2011 – Income Tax Section 35AC, Read With Explanation (B) Thereto, Of the Income-Tax Act, 1961 – Eligible Projects Or Schemes, Expenditure On – Notified Eligible Projects Or Schemes – Iskcon Food Relief Foundation, Mumbai. Notification No.86/2011[F.No.V-27015/3/2011-So(Nat.Com]/S.O.1865(E), Dated 11-8-2011
Notification No.85/2011 – Income Tax Section 35AC, Read With Explanation (B) Thereto, Of The Income-Tax Act, 1961 – Eligible Projects Or Schemes, Expenditure On – Notified Eligible Projects Or Schemes – V.R. Deshpande Memorial Trust, Tamilnadu.
Notification No. 84/2011 – Income Tax Section 35AC, Read With Explanation (B) Thereto, Of The Income-Tax Act, 1961 – Eligible Projects Or Schemes, Expenditure On – Notified Eligible Projects Or Schemes – Kalgidhar Society, Himachal Pradesh.
Notification No.83/2011 – Income Tax Section 35ac, Read With Explanation (B) Thereto, Of The Income-Tax Act, 1961 – Eligible Projects Or Schemes, Expenditure On – Notified Eligible Projects Or Schemes – Vidyarambam Trust, Chennai Notification No.83/2011[F.No.V-27015/3/2011-So(Nat.Com]/S.O.1862(E), Dated 11-8-2011
Notification No. 82/2011 – Income Tax Section 35AC, Read With Explanation (B) Thereto, Of The Income-Tax Act, 1961 – Eligible Projects Or Schemes, Expenditure On – Notified Eligible Projects Or Schemes – John Daycare & Boarding For Senior Citizens Association, New Delhi.
In terms of our circular DBOD.No.BP.BC.57/ 21.4.157/2008-09 dated October 13, 2008, the overdue receivables representing positive mark to market value of a derivative contract would be treated as a non-performing asset (NPA), if these remain unpaid for 90 days or more. In that case, all other funded facilities granted to the client should also be classified as NPA following the principle of borrower-wise classification as per the existing asset classification norms. As the overdue receivables would represent unrealised income already booked by the bank on accrual basis in the ‘Profit and Loss Account’, such amount should be reversed after 90 days of overdue period, and held in a ‘Suspense Account-Crystalised Receivables’ in the same manner as done in the case of overdue advances. DBOD.No.BP.BC. 28 / 21.04.157 / 2011-12
Revised Form 23AC and Form 23ACA will be available on the MCA Portal, effective 12th August, 2011. All Stakeholders are requested to use new version w.e.f. 12th August, 2011 (6.00 AM) as the current version of these forms will be discontinued on MCA Portal.
Notification No. 81/2011 – Income Tax [F.NO.V.27015/3/2011-SO(NAT.COM)/S.O. 1860(E), DATED 11-8-2011 -In exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government, on the recommendations of the National Committee for Promotion of Social and Economic Welfare, hereby notifies the institutions approved by the said National Committee,
Trade Notice 15 dated 10th August, 2011 In this Trade Notice (para 4) it was provided that the concerned exporters may approach the RC issuing Authorities within 3 days alongwith all necessary documents for rectification of error if any. The concerned RAs would verify the documents and do rectification if required. After issue of Trade Notice No. 11 of 29.06.2011, many exporters have submitted the documents with RC issuing authorities. These have been verified. After verification, 61 firms have not been found to have defaulted. Accordingly their names have been removed from the list. The list of remaining defaulters is annexed with this Trade Notice.
Circular No. CIR/DNPD/7/2011 In consultation with BSE, MCX-SX, NSE and USE, it has been decided that Stock Exchanges shall levy penalty specified hereunder on trading members for shortcollection/non-collection of margins from clients in Equity and Currency Derivatives segments: If short/non-collection of margins for a client continues for more than 3 consecutive days, then penalty of 5% of the shortfall amount shall be levied for each day of continued shortfall beyond the 3rd day of shortfall.
