The guidelines on credit card operations cover various aspects such as issue of credit cards, interest rates and other charges, wrongful billing, use of Direct Sales Agents (DSAs)/Direct Marketing Agents (DMAs) and other agents, protection of customer rights covering among other things right to privacy, customer confidentiality and fair practices in debt collection, redressal of customer grievances, internal control and monitoring systems, fraud control etc.
In terms of the third proviso of para 18 of the Non-Banking Financial (Non- Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007, any systemically important non-deposit taking non-banking financial company not accessing public funds, either directly or indirectly, may make an application to the Bank for modifications in the prescribed ceilings with regard to Concentration of credit / investment norms.
Notification No. 49/2010-Income Tax In a recent Notification No. 49/2010 dated 9 July 2010 (Notification) issued by the Central Board of Direct Taxes, modifying the permitted modes of filing return of income (ROI) for (i) companies and (ii) individuals and Hindu Undivided Families (HUF) which are liable for tax audit.
Notification No. 49/2010-Income Tax “(a) a firm required to furnish the return in Form ITR-5 and to whom provisions of section 44AB are applicable shall furnish the return in the manner specified in clause (ii) or clause (iii); (aa) an individual or HUF required to furnish the return in Form ITR-4 and to whom provisions of section 44AB are applicable shall furnish the return for Assessment Year 2010-11 and subsequent Assessment Years in the manner specified in clause (ii) or clause (iii); (ab) a company required to furnish the return in Form ITR-6 shall furnish the return for Assessment Year 2010-11 and subsequent Assessment Years in the manner specified in clause (ii)’
The Government of Maharashtra has introduced a Scheme of Composition („Scheme?) of VAT for registered dealers undertaking construction of flats, dwellings, buildings or premises and transferring them in pursuance of an agreement along with land or interest underlying the land. The rate of Composition under the Scheme shall be 1% of * the aggregate amount specified in the agreement or * the value specified for the purpose of stamp duty in respect of the said agreement, whichever is higher
Notification No. 48/2010-Income Tax In exercise of the powers conferred by section 80CCF of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies bonds, subject to the following conditions, as long-term infrastructure bonds for the purposes of the said section namely :-
Notification No. 47/2010-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 vide notification of the Government of India in the Ministry of Finance (Department of Revenue, Central Board of Direct Taxes ) number S.O. 51(E), dated the 8th January, 2008;
In exercise of powers conferred under section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 2.1 of the Foreign Trade Policy, 2009-2014, the Central Government hereby makes the following amendments in Schedule –1 of the ITC(HS) Classifications of Export and Import Items.
In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 2.1 of the Foreign Trade Policy –2009-2014, the Central Government hereby amends Schedule – I (Imports) of the ITC (HS) Classifications of Export and Import Items as under.
No.LTA.2009/ CR-98/Taxation-2. – In exercise of the powers conferred by sub-section (7) of section 22 of the Maharashtra Tax on Luxuries Act, 1987 (Mah. XLI of 1987), the Government of Maharashtra hereby amends the Government Notification, Finance Department,- No. LTA.2007/CR- 25/Taxation- 2, dated the 8th May 2007, as follows, namely:—
