The government has set the ball rolling to liberalise legal services, and allow entry of foreign law firms in India. In a meeting chaired by secretary, ministry of law and justice, on Tuesday, there was in-principal agreement among various stakeholders that included representatives of The Bar Council of India, the legal fraternity, and the sector,… Read More »
JULY 5: Vehicle buyers may face a truly prohibitive tax, going up to 22 per cent of the vehicle cost, on diesel cars if the recommendations of the Environment Pollution (Prevention and Control) Authority (EPCA) are implemented. Taking into consideration the health and environmental concerns, complicated by the lucrative lower taxes on the fuel, EPCA… Read More »
RBI/FIDD/2016-17/33 Master Direction FIDD.CO.Plan.1/04.09.01/2016-17 July 7, 2016 The Chairman / Managing Director/ Chief Executive Officer [All Scheduled Commercial Banks, (excluding Regional Rural Banks)] Dear Sir/ Madam, MASTER DIRECTION-PRIORITY SECTOR LENDING-TARGETS AND CLASSIFICATION The Reserve Bank of India has, from time to time, issued a number of guidelines/instructions/directives to banks on Priority Sector Lending. The Master… Read More »
RBI/FIDD/2016-17/34 Master Direction FIDD.CO.Plan.2/04.09.01/2016-17 July 7, 2016 The Chairman All Regional Rural Banks Dear Sir/ Madam, MASTER DIRECTION-REGIONAL RURAL BANKS-PRIORITY SECTOR LENDING-TARGETS AND CLASSIFICATION The guidelines for priority sector lending by Regional Rural Banks were revised by the Reserve Bank of India vide circular dated December 3, 2015. The Master Direction enclosed incorporates the updated… Read More »
Understatement of Revenue by Telecom Service Providers The Department of Telecommunication has clarified the following information on understatement of revenue by telecom service providers in 2006-07 to 2009-10:- CAG Report on understatement of revenue by six Telecom Service Providers by Rs 46000 crores was received in February 2016. The Report pertains to four years i.e.… Read More »
DoNER Ministry to offer subsidy incentives in Northeast for employment generating units: Dr Jitendra Singh Ministry of Development of North-Eastern Region (DoNER) will offer subsidy incentives in Northeast for industrial and other units generating employment. Announcing this on the conclusion of a meeting of the Ministry here this morning, Union Minister of State (Independent Charge)… Read More »
NOTIFICATION NO.31/2016-C.E. (N.T.), DATED 4-7-2016 In exercise of the powers conferred by sub-rule (1) of rule 20 of the Central Excise Rules, 2002, the Central Government being satisfied that it is necessary in public interest so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of… Read More »
MCA has further revised the versions of eforms Forms CHG-1 [Application for registration of creation, modification of charge (other than those related to debentures)], Form CHG-4 [Form for particulars for satisfaction of charge], Form DPT-3 [Return of deposits] and Form MR-2 [Form of application to the Central Government for approval of appointment or reappointment and remuneration or increase in remuneration or waiver for excess… Read More »
DVAT: Department of Trade & Taxes has revised turnover criteria for filing of DVAT Returns using Digital Signatures. The department notified that dealers whose gross turnover during the FY 2015-16 exceeded One Crore Rupees shall furnish their returns in Form DVAT 16 / DVAT 17 with digital signatures for the tax period 1st April, 2016 to 30th… Read More »
RBI/FMRD/2016-17/32 FMRD.Master Direction No. 2/2016-17 July 7, 2016 All Eligible Market Participants Dear Sir/Madam, Master Direction on Money Market Instruments: Call/Notice Money Market, Commercial Paper, Certificates of Deposit and Non-Convertible Debentures (original maturity up to one year) The Reserve Bank of India has, from time to time, issued a number of guidelines/instructions/directives to the eligible… Read More »