1) The finance minister asked long-term US investors to start investing in India without delay as the country's growth story is strong and all outstanding issues are under consideration.
2) The union cabinet approved an intellectual property cooperation pact between India and Japan that will automatically renew every four years.
3) SEBI adopted e-route for service of notice by adjudicating officers and allowed service via email and fax.
Corporate Updates
SEBI
Recording of Non Disposal Undertaking (NDU)in the Depository System
Interest and Dividend information reporting in case of Custodial Accounts-Rule 114G(1)(e) of the Income Tax Rules, 1962
Non-compliance with certain provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009
MCA
MCA comes out with further exemptions to Private Companies and notifies the amendment to the principal notification dated 5th June, 2015
MCA comes out with further exemptions to Government Companies and notifies the amendment to the principal notification dated 5th June, 2015
TAXATION
CBDT provides clarification on Reduced Liability of Tax on complex, building, flat etc. under GST
Company Website:
www.acquisory.com
• The 'District Industries Centre' (DICs) programme was started by the central government in 1978 with the objective of providing a focal point for promoting small, tiny, cottage and village industries in a particular area and to make available to them all necessary services and facilities at one place.
• The District Industries Centre is the institution at the District level, which provides all the services and support facilities to the entrepreneur for setting up Micro, Small and Medium Enterprises. This included identification of suitable schemes, preparation of feasibility reports, arrangements for credit facilities, machinery and equipments, provision of raw materials and development of industrial clusters etc.
• Established in 1940
• Vision is to be primary driving force of commercially sustainable industrial development .
• Industrial development Corporations are companies or agencies in India which were established at various times under the policy of Government of India for the promotion of small - scale industries.
• A Central Industrial Finance corporation was set up under the industrial Finance corporations Act, 1948 in order to provide medium and long term credit to industrial undertakings which fall outside normal activities of commercial banks.
• The State governments expressed their desire that similar corporations be set up in states to supplement the work of the Industrial financial corporation. State governments also expressed that the State corporations be established under a special statue in order to make it possible to incorporate in the constitutions necessary provisions in regard to majority control by the government, guaranteed by the State government in regard to the payment principal. In order to implement the views Expressed by the State governments the State Financial Corporation bill was introduced in the Parliament.
• Small Industries Development Bank of India (SIDBI), set up on April 2, 1990 under an Act of Indian Parliament, is the Principal Financial Institution for the Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector and for Co-ordination of the functions of the institutions engaged in similar activities.
• It was incorporated initially as a wholly owned subsidiary of Industrial Development Bank of India.
• The purpose is to provide refinance facilities and short term lending to industries. Its headquarters is in Lucknow.
• Former Deputy Managing Director is Shri N.K. Maini. Dr. Kshatrapati Shivaji is the new Chairman and Managing Director of the organisation.
SEBI
SEBI issues Circular on disclosure of executive remuneration by Mutual Funds
MCA
MCA issues clarification relating to the Transfer of Shares to IEPF Authority
RBI
RBI proposes fresh Regulations for Cross Border Mergers
Guidelines on Merchant Acquisition for Card Transactions
TAXATION
DVAT return filing due date for 4th quarter extended to May 15, 2017
Company Website- www.acquisory.com
Corporate Updates
SEBI
Recording of Non Disposal Undertaking (NDU)in the Depository System
Interest and Dividend information reporting in case of Custodial Accounts-Rule 114G(1)(e) of the Income Tax Rules, 1962
Non-compliance with certain provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009
MCA
MCA comes out with further exemptions to Private Companies and notifies the amendment to the principal notification dated 5th June, 2015
MCA comes out with further exemptions to Government Companies and notifies the amendment to the principal notification dated 5th June, 2015
TAXATION
CBDT provides clarification on Reduced Liability of Tax on complex, building, flat etc. under GST
Company Website:
www.acquisory.com
• The 'District Industries Centre' (DICs) programme was started by the central government in 1978 with the objective of providing a focal point for promoting small, tiny, cottage and village industries in a particular area and to make available to them all necessary services and facilities at one place.
• The District Industries Centre is the institution at the District level, which provides all the services and support facilities to the entrepreneur for setting up Micro, Small and Medium Enterprises. This included identification of suitable schemes, preparation of feasibility reports, arrangements for credit facilities, machinery and equipments, provision of raw materials and development of industrial clusters etc.
• Established in 1940
• Vision is to be primary driving force of commercially sustainable industrial development .
• Industrial development Corporations are companies or agencies in India which were established at various times under the policy of Government of India for the promotion of small - scale industries.
• A Central Industrial Finance corporation was set up under the industrial Finance corporations Act, 1948 in order to provide medium and long term credit to industrial undertakings which fall outside normal activities of commercial banks.
• The State governments expressed their desire that similar corporations be set up in states to supplement the work of the Industrial financial corporation. State governments also expressed that the State corporations be established under a special statue in order to make it possible to incorporate in the constitutions necessary provisions in regard to majority control by the government, guaranteed by the State government in regard to the payment principal. In order to implement the views Expressed by the State governments the State Financial Corporation bill was introduced in the Parliament.
• Small Industries Development Bank of India (SIDBI), set up on April 2, 1990 under an Act of Indian Parliament, is the Principal Financial Institution for the Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector and for Co-ordination of the functions of the institutions engaged in similar activities.
• It was incorporated initially as a wholly owned subsidiary of Industrial Development Bank of India.
• The purpose is to provide refinance facilities and short term lending to industries. Its headquarters is in Lucknow.
• Former Deputy Managing Director is Shri N.K. Maini. Dr. Kshatrapati Shivaji is the new Chairman and Managing Director of the organisation.
SEBI
SEBI issues Circular on disclosure of executive remuneration by Mutual Funds
MCA
MCA issues clarification relating to the Transfer of Shares to IEPF Authority
RBI
RBI proposes fresh Regulations for Cross Border Mergers
Guidelines on Merchant Acquisition for Card Transactions
TAXATION
DVAT return filing due date for 4th quarter extended to May 15, 2017
Company Website- www.acquisory.com
How to use agile methods to deliver successful, large-scale web projects in a commercial setting. Why do big projects fail? What benefits does agile bring? How can we make agile work for clients and agencies alike?
This talk was given by Cubeworks Founder & MD, Alex Cowell, at Internet World on 12 May 2011. www.cubeworks.co.uk
Make in india – a formidable step in right directionNeha Sharma
Make in India campaign of Prime Minister Narendra Modi has evoked lots of attention all over the world. Prospective investors from China, Japan, USA etc are eagerly watching changes being made in the directions of investment liberalization . There is no doubt that with this PM has taken a major initiative to bring Indian and International Corporate Sector on one platform to aggressively boost industrial production and growth in India.
Newsletter on daily professional updates- 11/03/2020CA PRADEEP GOYAL
"The more knowledge you have on a certain topic,
the more equipped you are to deal with it."
Here is your Daily dose of professional updates 11.03.2020
"Humility will teach you knowledge, arrogance will teach you ignorance. If you think you know it all, you have learned nothing" Hi good morning, attached today's newsletter 01.09.2020. great day ahead
The BJP Government is on the verge of completing a year and has now stabilised. Major economic initiatives and actions are emerging for a high growth oriented economy.
“In today's environment, hoarding knowledge ultimately erodes your power. If you know something very important, the way to get power is by actually sharing it.” Here is today's newsletter 11/08/2020. Stay safe, Stay Healthy- Pradeep
Newsletter on daily professional updates- 05/02/2020CA PRADEEP GOYAL
Sharing knowledge is the most fundamental act of friendship.
Because it is a way you can give something without loosing something.
Here is your Daily dose of professional updates 05.02.2020
The Delhi high court, in a leading judgement delivered on 3rd June, 2016, has declared service tax audit being conducted by Central Excise and Service tax department as ultra virus, in the matter of Mega Cabs Vs UOI. The matter was argued by Mr. J.K. Mittal, FCA as advocate of the petitioner.
Newsletter on daily professional updates- 10/03/2020CA PRADEEP GOYAL
गुलाल का रंग, गुब्बारों की मार,
सूरज की किरणें, खुशियों की बहार,
चाँद की चांदनी, अपनों का प्यार,
मुबारक हो आपको रंगों का त्यौहार!!!
Here is your Daily dose of professional updates 10.03.2020
1. THOUGHT OF THE DAY
“Success means having the courage, the determination, and
the will to become the person you believe you were meant to
be…”
ECONOMIC UPDATES
Making a strong pitch for investments in India, Finance Minister Arun
Jaitley has asked long-term US investors to start investing without any
delay as India's growth story is on a firm footing and all outstanding issues
are under the government's active consideration.
The union cabinet on Wednesday approved a pact between India and
Japan for cooperation in the field of intellectual property. The
Memorandum of Cooperation will be signed between the Department of
Industrial Policy and Promotion (DIPP) and the Japan Patent Office. The
pact will be renewed automatically every four years.
SEBI/CORPORATE UPDATES
Vide SEBI Notification No. F. No. 5/11/CM/2006 notified Securities and
Exchange Board of India (Procedure for Holding Inquiry and imposing
penalties by adjudicating officer) Amendment Rules, 2015 whereby SEBI
adopts e-route for service of notice and allowed service via email and fax
by adjudicating officer.
The Institute of Cost Accountants of India makes an Invitation to give
comments/ suggestions on the Companies Act 2013 and Rules thereunder
latest by 15th July, 2015.
High-level committee to look at more changes in Companies Act.
Provisions related to intercorporate loans, managerial remuneration,
independent directors, insolvency and SMEs are likely to be taken up by a
high-level committee set up by the government in the first round of review.
RBI/TAX LAW UPDATES
Vide Notification No. RBI/2014-15/648 DNBR. CC.PD. No.041/ 03.10.01/
2014-15 dated June 25, 2015 notified appointment of Non-Deposit
Accepting NBFCs with asset size of Rs.100 crore and above as sub- agents
under Money Transfer Service Schemes (MTSS).
Vide RBI Circular ref RBI/2014-15/649 A.P. (DIR Series) Circular No. 112
dated June 25, 2015, RBI clarifies that Now Authorised Dealer banks
needn't require case-by-case approval of RBI for borrowing overseas
funds.
MARKET UPDATES
SENSEX
27,811.52 -84.45
CNX NIFTY
8,378.00 -20.00
DOLLAR/ RUPEE
63.63 0.03
MCX SILVER
36,115.00 -67.00
MCX GOLD
26,517.00 32.00
MCX CRUDE OIL
3,812.00 -18.00
Dow Jones Industrial
average
17,890.36 -75.71
Nasdaq Composite
5,112.19 -10.22
http://www.proglobalcorp.com