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Notifications

NC Notification No. 86/2010-Income Tax Dated 30/12/2010

December 30, 2010 463 Views 0 comment Print

NC Notification No. 86/2010-Income Tax WHEREAS by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 466(E), dated 29th March, 2007, issued under clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 13, Sharada Dhanvanthari Medical Centre & Sharada Dhanvantari Haemodialysis

Corrigendum to Notification No. 14(RE-2010)/2009-14 dated 22.12.2010 regarding export of cotton yarn

December 29, 2010 280 Views 0 comment Print

However, Exporters who have obtained Registration Certificate from Textile Commissioner, Mumbai on or before 1st December, 2010 would be permitted to export Cotton Yarn within the quantity limit for which such registration certificate has been issued and within the validity of such registered contract

Lead Bank Scheme – Conduct of State Level Bankers’ Committee (SLBC)/Union Territory Level Bankers’ Committee (UTLBC) meetings

December 29, 2010 388 Views 0 comment Print

Of late, it has been observed that these meetings are neither conducted in time nor the agenda is circulated in advance. Further, the level of participation in the meetings is not upto the prescribed level undermining the prime objective of holding the meetings. A need is, therefore, felt to streamline and strengthen the system of holding of these meetings.

Special Economic Zones (Sixth Amendment) Rules, 2010 – Amendment in Form “C”

December 29, 2010 444 Views 0 comment Print

NOTIFICATION NO. G.S.R. 982(E), DATED 16-12-2010 In exercise of the powers conferred by section 55 of the Special Economic Zone Act, 2005 (28 of 2005), the Central Government hereby makes the following rules further to amend the Special Economic Zones Rules, 2006, namely:— 1. (i) These rules may be called the Special Economic Zones (Sixth […]

Directions for opening and operation of Accounts and settlement of payment for electronic payment transactions involving intermediaries

December 28, 2010 649 Views 0 comment Print

In continuation of the above directions, please note to forward a covering letter from your bank certifying that the quarterly certificate from the concurrent auditor being furnished to the Reserve Bank of India on the operations of the intermediaries’ accounts includes all the intermediaries accounts maintained with your bank.

SEBI – Establishment of Connectivity with both depositories NSDL and CDSL – Companies eligible for shifting from Trade for Trade Settlement (TFTS) to normal Rolling Settlement

December 28, 2010 273 Views 0 comment Print

At least 50% of other than promoter holdings as per clause 35 of Listing Agreement are in dematerialized mode before shifting the trading in the securities of the company from TFTS to normal Rolling Settlement. For this purpose, the listed companies shall obtain a certificate from its Registrar and Transfer Agent.

Amending Notification No. 94/2005-Customs, dated the 20th October, 2005 regarding continuation of anti-dumping duty on imports of certain Rubber Chemicals

December 28, 2010 481 Views 0 comment Print

G.S.R. (E). -Whereas, the designated authority vide notification No. 15/14/2009-DGAD, dated the 12th May,2010, published in the Gazette of India, Extraordinary, Part I, Section 1 dated the 13th May,2010, had initiated review in terms of sub-section (5) of section 9A of the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the said Customs Tariff Act) and in pursuance of rule 23 of the Customs Tariff (Identification, Assessmen

Collection of Statistics on pre-paid instruments

December 27, 2010 279 Views 0 comment Print

Authorized entities have hitherto been submitting information on the volume and value of transactions, to the Reserve Bank of India. In order to bring in uniformity and facilitate straight through processing, a format in Excel has been prepared and is forwarded herewith. All authorised entities are advised to furnish the data related to the operations of pre paid payment instruments issued on a monthly basis in the attached format.

Issuance and operation of Prepaid Payment Instruments in India – Auditor Certificate on the balances in Escrow account

December 27, 2010 340 Views 0 comment Print

It is observed that the authorised entities are not adhering to the prescribed time frame laid down for submission of Auditor’s certificate. All authorised entities are advised to furnish a quarterly certificate on the balances held in the Escrow account in accordance with the above Guidelines, from an auditor within a fortnight from the end of the quarter to which it pertains.

RBI Directions for submission of system audit reports from CISA qualified Auditor

December 27, 2010 1306 Views 0 comment Print

All authorised entities are advised to furnish their respective system audit reports from a CISA qualified auditor on an annual basis. Authorised entities which follow an April-March financial year, the system audit report should be submitted within two months i.e. by 1st June of that year. Authorised entities, which follow a calendar year annual closing, are advised to submit their system audit reports by 1st March of the following year.

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