It has been observed that the Regional Rural Banks (RRBs) are not following a uniform practice in reckoning their liability in respect of arrangements with correspondent banks (mainly sponsor banks) for remittance facilities. Under the arrangements, there is a transfer of funds by accepting bank to its correspondent bank and it is an obligation of the correspondent bank to honour the instruments.
Notification No. 04 / 2010 – Customs, – In the said notification, in the Table, in column (4),-1. for the entry “4.69%”, wherever it occurs, the entry “4.75%” shall be substituted;ntry “7.03%”, wherever it occurs, the entry “7.13%” shall be substituted. 3. for the entry “9.37%”, wherever it occurs, the entry “9.5%” shall be substituted.
In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) read with Para 1.3 of the Foreign Trade Policy (FTP), 2009-14, the Central Government hereby makes the following amendment in Foreign Trade Policy:
Further, supply of goods required for the expansion of existing mega power project as specified in Sl. no 400A of DoR Notification 21/2002- Customs dated 1.3.2002, as amended shall also be eligible for deemed export benefits as mentioned in paragraph 8.3 ( a), (b) and (c) of FTP, whichever is applicable.
section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the Regulations to further amend the Securities and Exchange Board of India (Employees’ Service) Regulations, 2001,
G.S.R. (E).- -In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 21 / 2002-Customs, dated the 1st March, 2002 which was published in the Gazette of India, Extraordinary, vide number G.S.R.118 (E), dated the 1st March, 2002, namely:-
Notification No. 3/2010-Income Tax In exercise of the powers conferred by Explanation 4 to section 80G of the Income-tax Act, 1961(43 of 1961), the Central Government hereby makes the following amendments in the notification of the Government of India, Ministry of Finance, (Department of Revenue), Central Board of Direct Taxes, vide S.O. 1246(E), dated the 29th November,2002, namely :-
DBOD. AML.BC. No. 68 /14.01.001/2009-10- Some of the salient features of the amendment, relevant to banks and financial institutions are as under: • Clause (ca) inserted in sub-rule (1) of Rule 2 defines “non-profit organization” • Clause (BA) inserted in sub-rule (1) of Rule 3 requires banks/financial institutions to maintain proper record of all transactions involving receipts by non-profit organizations of value more than rupees ten lakh or its equivalent in foreign currency. • The amended Rule 6 provides that the records referred to in rule 3 should be maintained for a period of ten years from the date of transactions between the client and the banking company/financial institution.
Notification No. 2/2010-Income Tax at page 20 of the Gazette Notification, in sixth line of clause (B) of sub-rule 2, for “amount attributable to official use of the vehicle provided that the following conditions are fulfilled”, read “amount of charges met or reimbursed by the employer as reduced by such higher amount attributable to official use of the vehicle provided that the following conditions are fulfilled ”,
Every individual or nominee of a body corporate who is intending to be appointed as designated partner of a limited liability partnership shall submit an application electronically to the Central Government for allotment of Designated Partner Identification Number ( DPIN) in the manner as provided in Form 7 along with fee as mentioned in Annexure ‘A’.
