| External Commercial Borrowings (ECB) Policy – Structured Obligations Posted: 03 Mar 2010 07:41 PM PST Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to Notification No.FEMA 29/2000-RB dated September 26, 2000 viz. Payment to person resident outside India on invocation of guarantee, A.P. (DIR Series) Circular No. 28... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| RBI Circular No.38 on External Commercial Borrowings (ECB) Policy Posted: 03 Mar 2010 07:32 PM PST RBI/2009-10/333, A.P. (DIR Series) Circular No.38, March 02, 2010 Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to the A.P. (DIR Series) Circular No. 5 dated August 1, 2005 and A.P. (DIR Series)... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| External Commercial Borrowings (ECB) Policy – Infrastructure Posted: 03 Mar 2010 07:29 PM PST As announced in para 54 of the Union Budget for the Year 2010-11, it has been decided to expand the definition of infrastructure sector, for the purpose of availing of ECB, to include "cold storage or cold room facility, including for farm level... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Review of bilateral clearing arrangements between banks – Regional Rural Banks Posted: 03 Mar 2010 07:28 PM PST As you are aware, for convenient, cost-effective and quick processing and settlement of clearing instruments arising out of normal business activities of banks, an elaborate Clearing House infrastructure is in place in the country. Currently... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Report of the High Level Committee to Review Lead Bank Scheme – Implementation of the recommendations Posted: 03 Mar 2010 07:26 PM PST Over a period of four decades, since the inception of the Lead Bank Scheme (LBS), several changes have taken place necessitating a relook at the scheme to make it more effective in the changed economic scenario with sharper focus on financial... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| DGFT notification on Prohibition on Export of Non-basmati Rice – exemption regarding Posted: 03 Mar 2010 06:59 PM PST In exercise of the powers conferred by Section 5 read with Section 3(2) of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) and also read with Para 1.3 and Para 2.1 of the Foreign Trade Policy, 2009-2014, the Central... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| DGFT notification Amending Para 3.17.11 of FTP 2009-14 Posted: 03 Mar 2010 06:56 PM PST NOTIFICATION No. 32/2009-14, New Delhi, Dated the 26 February, 2010. S.O (E) – In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) read with Para 1.3 of the Foreign Trade... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Amendments/additions in HBPv1 (Appendices and Aayat Niryat Forms), for benefits on exports made on or after 1.1.2010 Posted: 03 Mar 2010 06:46 PM PST In exercise of the powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-14, the Director General of Foreign Trade, hereby, makes the following amendments/additions in HBPv1 (Appendices and Aayat Niryat Forms), for benefits on... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Customs Notification No 19/2010 (NT), Amends Principal Notification No. 36/2001 – Customs (N.T.), dated, the 3-08-2001 Posted: 03 Mar 2010 06:38 PM PST In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following further amendment in the notification of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Customs Notification No 18/2010 (NT), Seeks to amend notification 2/95 – Cus.(N.T.) dated 01.01.1995 so as to amend Anti dumping rules Posted: 03 Mar 2010 06:37 PM PST In the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Dete rmination of Injury) Rules, 1995, in rule 2, in clause (b), for the words "in which case such producers may be deemed not to form... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Imposition of import duty on crude petroleum will benefit domestic crude manufacturers Posted: 03 Mar 2010 06:12 PM PST Increase in customs duty on crude petroleum from Nil to 5%. Decision on Kirti Parikh recommendations will be taken in due course. Weighted deduction on expenditure incurred on in-house R&D enhanced from 150% to 200%. Also weighted deduction on... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Invest tax saved from revised tax slab for financial year 2010-11 Posted: 03 Mar 2010 06:05 PM PST FM has put more money in the hands of a large section of tax-payers. There are also some additional tax breaks in the form of investments made into infrastructure bonds and health insurance. Our Personal Finance team speaks to experts on the best... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| RBI allowed Paypal to pay for export of services and goods but not for personal payments Posted: 03 Mar 2010 05:54 PM PST There is good news for the companies usingPay Pal services as Reserve Bank of Indiahas given the green signal for restarting the bank withdrawals in the country, the news was confirmed last week by PayPal. The RBI has approved in order to settle... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| SC dismissed excise department plea to levy service tax on IBM India's application Posted: 03 Mar 2010 05:48 PM PST The Supreme Court has dismissed the plea of the excise department to levy service tax on IBM India's application software -- enterprise resources planning software system (implementation service). A bench headed by justice SH Kapadia rejected the... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| India will need 50000 company secretaries (CS) by 2020 Posted: 03 Mar 2010 05:44 PM PST With high paced growth in industrial sector, India will need at least 50,000 company secretaries (CS) by 2020, Institute of Company Secretaries of India (ICSI) said on Sunday. According to data released by ICSI, there has been over 70% growth in... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Online settlement of provident fund claim by next financial year Posted: 03 Mar 2010 05:41 PM PST Government on Wednesday said the modernisation project for online settlement of provident fund claim would be implemented by the next financial year in all EPFO offices. The project will be implemented in 27 offices of Employees Provident Fund... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Things to keep in mind before investing in company Fixed Deposits Posted: 03 Mar 2010 05:38 PM PST "With fixed deposit rates from banks coming down, investors seeking higher returns from fixed income products are investing in company fixed deposits," says Aseem Dhru, MD & CEO of HDFC Securities, which has recently started distributing... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Taxability of capital gains on transfer of shares of a wholly owned Indian subsidiary by a non resident parent company to a non resident Posted: 03 Mar 2010 09:12 AM PST KSPG Netherlands Holding B.V. (applicant), is a company incorporated in Netherlands on November 6, 2008 with its registered office in Amsterdam. PG India is the private limited company incorporated under the Companies Act, 1956 on October 26, 2006,... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Demarcated space made available in the warehouse by logistics service provider constitutes fixed place of business Posted: 03 Mar 2010 09:05 AM PST Seagate Singapore International Headquarters Pvt. Ltd. (applicant) was engaged in the business of manufacture and sale of Hard Disk Drives (disks). It has been supplying disks to Original Equipment Manufacturers (OEMs) in India. In order to minimize... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| ICAI may disclose the name of auditors guilty in scams Posted: 03 Mar 2010 08:38 AM PST In a bid to salvage auditing profession's credibility following the Satyam fraud, the Institute of Chartered Accountants of India (ICAI) said on Tuesday that it was considering making public the names of auditors found guilty in scams. ICAI is the... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Government extends interest subvention of 2 per cent for one more year for exports Posted: 03 Mar 2010 08:32 AM PST Earlier, SEZ unit holders and developers had raised concerns regarding continuation of tax benefits like income tax holiday after the Direct Tax Code comes into effect, replacing the existing Income Tax Act. The Minister informed the reporters that... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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| Company Law Board – Procedures – Inevitable delay – Indian company law Posted: 03 Mar 2010 08:26 AM PST I need not reiterate the fact that Company Law is complicated everywhere in view of its exposure, the interest of the stake holders, plethora of regulations, the stakes and the responsibility of the state or the statutory authorities. As everybody... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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