In exercise of the powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-14, the Director General of Foreign Trade, hereby, makes the following amendments/additions in HBPv1 (Appendices and Aayat Niryat Forms), for benefits on exports made on or after 1.1.2010
The Uttar Pradesh Government has issued a notification (Notification No. KA.NI.-2-246/XI-9(10)/08-U.P. Act-30-07-Order-(56)-2010 dated 19 February 2010 ) enhancing the rates of additional tax as mentioned below. The new rates are effective 19 February 2010.
Notification No.11/2010-Income Tax S.O. It is hereby notified for general information that the organization Asian Health Care Foundation, Hyderabad, has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), from Assessment year 2008-09 onwards
Notification No. 12/2010-Income Tax S.O. It is hereby notified for general information that the organization Mahila Mandal Barmer Agor (MMBA), Barmer, Rajasthan has been approved by the Central Government for the purpose of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with rules 5C and 5E of the Income-tax Rules, 1962 (said Rules) from Assessment year
Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to A.P. (DIR Series) Circular No. 68 dated June 1, 2007, revising the reporting package on Overseas Direct Investment (ODI) by the Indian Parties. Further, it was also mentioned in the circular that the ODI forms would be received on-line by the Reserve Bank, in due course.
the Reserve Bank may consider scheme of amalgamation that provides for payment to depositors under Section 16(2) of the Deposit Insurance and Credit Guarantee Corporation Act, 1961, financial contribution by the transferee bank and sacrifice by large depositors. It has since been decided that the Reserve Bank may also consider scheme of transfer of assets and liabilities (including branches) of UCBs to commercial banks with DICGC support in legacy cases, as an additional option for resolution of weak banks, where proposals for amalgamation within the UCB sector were not forthcoming.
Notification No. 01/2010 – Service Tax In the Service Tax Rules 1994 (hereinafter referred to as the said rules), in rule 6, in sub-rule (2), for the proviso, the following proviso, shall be substituted, namely:-“Provided that where an assessee has paid a total service tax of rupees ten lakh or more including the amount paid by utilisation of CENVAT credit, in the preceding financial year, he shall deposit the service tax liable to be paid by him electronically, through internet banking.”
Accordingly, allocation of 10,000 MT of white sugar for export of CXL Concessions Sugar to European Union (EU) for the fiscal year 2009 -10 made vide Public Notice No. 41/2009-2014 dated 15th February, 2010 stands withdrawn.
Establishment of Connectivity with both depositories NSDL and CDSL – Companies eligible for shifting from Trade for Trade Settlement (TFTS) to normal Rolling Settlement
Prohibiting alterations / corrections on cheques : No changes / corrections should be carried out on the cheques (other than for date validation purposes, if required). For any change in the payee’s name, courtesy amount (amount in figures) or legal amount (amount in words), etc., fresh cheque forms should be used by customers. This would help banks to identify and control fraudulent alterations.
