Please refer to Para 3 of our circular RPCD.CO.Plan.BC.No.49/04.09.01/2010-11 dated January 28, 2011 on the captioned subject, wherein it was advised that the misclassifications reported by Principal Inspecting Officers, during the current year would be added to the shortfall reported by banks, as on the last reporting Friday of the following year, for allocations to various funds.
Any article gifted to a person for his personal use whose market value in India on the date of such gift does not exceed rupees twenty-five thousand shall not be a foreign contribution within the meaning of sub-clause (i) of clause (h) of sub-section (1) of section (2) of Foreign Contribution (Regulation) Act, 2010 (42 of 2010)
National Electronic Funds Transfer launched in year 2005 has been working successfully over the years and occupies an important place in the payment system space. The system is meant for one-to-one funds transfer and can be used for transferring funds to beneficiaries (individual, institutions etc.) and no restrictions have been placed thereon. The phenomenal growth in the system, both in terms of branch coverage and volume / value of transactions handled reflects the acceptability and popularity of the system.
LA Bill No.XVII of 2012 regarding the proposed amendments in Tax Laws according to Maharashtra Budget 2012 -Download Maharashtra LA Bill No.XVII of 2012
In exercise of the powers conferred by sub-section (1) of section -2T-fiA of the Companies Act, 1956 (1 of 1956), the Central Government hereby constitutes the National Advisory Committee on Accounting Standards, for a period up to the 28th February, 2013 with effect from the date of publication of this notification, consisting of the following persons to advise the Central Government on the formulation and laying down of accounting policies and accounting standards for adoption by companies or class of companies under the said Act, namely
Under the present scenario of deregulated interest rate on the savings bank account, in order to avoid ambiguity and variation in compensation rates across different agency banks, these instructions have been reviewed. It has now been decided that with effect from the date of this circular, an agency bank shall compensate an investor in Relief/Savings bonds, for the financial loss due to late receipt/delayed credit of interest warrants/maturity value, at a fixed rate of 8% per annum.
Under the overall guidance of the Board for Payment and Settlement Systems, the Reserve Bank over the last few years, has been taking a number of steps to popularise the electronic payment systems in the country. In this connection, a reference is invited to circular DPSS.CO.OD.494/04.04.009/2011-2012 dated September 21, 2011, in terms of which, liberalised revised access criteria for centralised and decentralised payment systems were announced.
In exercise of the powers conferred by sub-rule (1) of rule 5A of the Companies (Central Government’s) General Rules and Forms, 1956, the Central Government hereby appoints the Assistant Commissioner of Income-tax, Guwahati, as the prescribed authority for the purposes of clause (a) of sub-section (IA) of Section 108 of the Companies Act, 1956 (I of 1956).
With effect from 1st April 2012, amends the Notification No. JC(HQ)1/ VAT/2005/97, dated 29th August 2005, as follows, namely :— In the Schedule appended to the said notification at Serial No. 1, in column (3), for the words four percent the words five percent shall be substituted.
RBI Circular No. DGBA.CDD. No. H- 6506 The Government of India have vide their Office Memorandum (OM) No. 6-1/2011-NS.II (Pt.) dated March 26, 2012, advised the rate of interest on various small savings schemes for the financial year 2012-13. Accordingly, the rates of interest on PPF, 1968 and SCSS, 2004 for the financial year 2012-13 effective from April 01, 2012, on the basis of the interest compounding/payment built-in in the schemes, will be as under:
