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Govt extends excise duty concession on Motor Car and Capital Goods

June 25, 2014 1703 Views 0 comment Print

The Finance Minister Shri Arun Jaitley said that we expect the industry to show positive results in the coming months. The Finance Minister said that we also expect that the benefit of these duty concessions will be passed on to the consumers at large.

MCA issues draft Notification for Comments on various sections of Companies Act, 2013 for Private Companies

June 24, 2014 4402 Views 0 comment Print

Central Government hereby, in public interest, directs that the provisions of sections 43, 47, Clause (a) and (b) of sub-section (1) and sub-section (2) of section 62, 73, 101 to 107, 109, clause (g) of sub-section (3) of section 141, 160, 162, sub-sections (4) and (5) of section 196, section 180, section185, section 188, sub­section (3) of section 203 of the Companies Act, 2013 shall apply to a private Company with the modifications set out below, a copy of this notification having been laid in draft before both Houses of Parliament as required by sub-section (2) of section 462 of the said Act, namely:-

Companies (Management and Administration) Amendment Rules, 2014

June 23, 2014 4269 Views 0 comment Print

1. (1) These rules may be called the Companies (Management and Administration) Amendment Rules, 2014. (2) They shall come into force on the date of their publication in the Official Gazette.

CBDT notifies new Wealth Tax Return Form & Rules for Online Filing

June 23, 2014 33597 Views 0 comment Print

Notification No. 32/2014-Income Tax Form of return of net wealth. — (1) The return of net wealth referred to in section 14 shall— (a) in respect of assessment year 2013‐14 and earlier assessment years in the case of individuals, Hindu undivided families and companies, be in Form BA and shall be verified in the manner specified therein.

Prohibition on import of milk and milk products from China

June 23, 2014 460 Views 0 comment Print

The prohibition on import of milk and milk products (including chocolates and chocolate products and candies/ confectionary/ food preparations with milk or milk solids as an ingredient) from China is effective till 23/06/14 as per the Notification No. 23 (RE-2013)/2009-2014 dated 18/06/2013.

RBI ask banks to share information/documents required by SIT

June 23, 2014 1592 Views 0 comment Print

In pursuance of the Hon’ble Supreme Court Judgment dated July 4, 2011, Government of India has constituted a Special Investigation Team (SIT) under the Chairmanship of Hon’ble Justice M.B. Shah. In this regard, the Hon’ble Supreme Court has directed that:

No booking of air tickets through private agents – Government tells babus

June 21, 2014 2628 Views 0 comment Print

In a number of cases, it has been noticed that the aforesaid instructions are not being followed and as a result various Ministries/Departments continue to make references to DoPT seeking relaxation of the conditions for one reason or the other. The most common reasons given by the employees are unawareness of the rules and non-availability of Authorized Travel Agents viz. M/s Ashok Tmvels, M/s Balmer Lawrie & Company at places where the tickets have been booked from.

RTGS System – RBI to enable ‘Hybrid’ and ‘Future value dated transaction’

June 20, 2014 2373 Views 0 comment Print

The new RTGS system has been running smoothly and has stabilised. It has hence been decided to enable the ‘Hybrid’ and ‘Future value dated transaction’ features in the system with effect from July 14, 2014. The details regarding operations of these two functionalities are given in Annex.

Govt notifies Conditions for export of Pig Bristles and Hair to EU

June 20, 2014 838 Views 0 comment Print

In exercise of the powers conferred by Section 5 of the Foreign Trade (Development& Regulation) Act, 1992 (No.22 of 1992), as amended, read with Para 1.3 of the Foreign Trade Policy, 2009-2014, the Central Government hereby makes the following amendments in Chapter 5 of Schedule 2 (Export Policy) of ITC(HS) Classification of Export & Import Items.

Spouse with joint account or sole nominee can continue with account of deceased under Senior Citizen Saving Scheme

June 19, 2014 5240 Views 4 comments Print

“Provided that in the case of a joint account, or where the spouse is the sole nominee, the spouse may continue the account on the same terms and conditions as specified under these rules

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