In terms of extant guidelines, no advances should be granted by banks against gold bullion to dealers/traders in gold if, in their assessment, such advances are likely to be utilised for purposes of financing gold purchase at auctions and/or speculative holding of stocks and bullion. In this context, the significant rise in imports of gold in recent years is a cause for concern as direct bank financing for purchase of gold in any form viz., bullion/primary gold/jewellery/gold coin could lead to fuelling of demand for gold for speculative purposes.
Notification No. 58/2012-Customs Machinery, equipment, instruments, components, spares, jigs and fixtures, dies, tools, accessories, computer software, raw materials and consumables required for the purpose of Air-to-Air Missile System (Project ASTRA) of the Ministry of Defence.
Equipment and stores If,- (i) used for the systems and sub-systems of Project ASTRA of the Government of India in the Ministry of Defence;
Notification No. 50/2012-Income Tax In the notification of the Government of India in the Ministry of Finance, Department of Revenue, (Central Board of Direct Taxes) number S.O. 2685(E), dated the 6th November, 2012 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), dated the 6th November, 2012, in the table, for Rural Electrical Corporation, read Rural Electrification Corporation Limited.
We have been receiving a number of complaints where students have been refused educational loan as the residence of the borrower does not fall under the bank’s service area. In this connection, we advise that Service area norms are to be followed only in the case of Government sponsored schemes as advised in our circular RPCD.LBS (SAA).BC.No.62/08.01.00/2004-05 dated December 8, 2004 and are not applicable to sanction of educational loans.
Notification No. 49/2012-Income Tax Whereas the annexed Protocol amending the Agreement between the Government of the Republic of India and the Government of the Republic of Uzbekistan for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital
Notification No. 48/2012-Income Tax And whereas M/s. India Land and Properties Pvt. Ltd. having its registered address at Plot No. 14, 3rd Main Road, Ambattur Industrial Estate, Chennai-600058 has developed an Industrial Park at Indian Land Tech Park Tower AB and Tower C at Survey Nos. 195 part, 196 part, 197 part, 198 part, 199 part and 200 part of Mannurpet Village and 6 part, 7 part, 8 part and 10 part, of Athipet Village, Village Mannurpet and Athipet, Taluka Ambattur, District Thiruvallur, Tamil Nadu.
Notification No. 47/2012-Income Tax Whereas the Central Government in exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961(43 of 1961)(hereinafter referred to as the said Act), has framed and notified a scheme for industrial park, by the notification of the Government of India in the Ministry of Finance (Department of Revenue, Central Board of Direct Taxes) vide
Notification No. 46/2012-Income Tax Central Government hereby authorises the entities mentioned in column (2) of the following Table to issue, during the financial year 2012-13. tax-free, secured, redeemable, non-convertible bonds, aggregating to amounts mentioned in column (3) of the said table, subject to the conditions specified hereunder:-
The recent global slowdown has adversely impacted the Indian economy in general and more specifically the Micro and Small Enterprises (MSEs). The MSEs suffer the most in such situations especially from discontinuity of business, which they normally are not in a position to bear and become sick immediately.
