Export of buffalo tallow has been permitted if export is from APEDA registered integrated meat plants -DGFT Notification

To be Published in the Gazette of India Extraordinary Part-II, Section – 3, Sub-Section (ii))  Government of India Ministry of Commerce & Industry Department of Commerce Udyog Bhawan  Notification No 104 (RE – 2013)/2009-2014 New Delhi, Dated: 31 December, 2014   Subject: Permission for export of buffalo tallow.   S.O.(E)        In exercise of the powers … Read more

Revised format of reporting for representative Offices of Foreign Banks in India

RBI/2014-15/374DBR.IBD.No.9745/23.13.001/2014-15 December 31, 2014 The Chief RepresentativeAll Representative Offices of Foreign Banks in India Madam/Dear Sir, Revised format of reporting – Representative Offices of Foreign Banks in India Representative Offices of foreign banks in India are currently required to submit information/documents on an annual basis to Reserve Bank of India as under: a certificate from … Read more

Income Tax due date calendar for the first quarter (January to March) of the calender 2015

January, 2015 Wednesday, January 7, 2015 Due date for deposit of Tax deducted/collected for the month of December, 2014 Wednesday, January 7, 2015 Due date for deposit of TDS for the period October 2014 to December 2014 when Assessing Officer has permitted quarterly deposit of TDS under sections 192, 194A, 194D or 194H. Thursday, January 15, 2015 Quarterly statement of … Read more

FFIs need to register with the US IRS and obtain a Global Intermediary Identification Number (GIIN) – SEBI Circular

CIRCULAR  CIR/MIRSD/6/2014                                                                                     December 30, 2014   All Intermediaries registered with SEBI   Sub: Registration for the purpose of Foreign Accounts Tax Compliance Act (FATCA)     2.    The Government of India has informed SEBI vide communication dated December 30, 2014 that as per the FAQ published on the US Internal Revenue Service (IRS) website, Foreign … Read more

FFIs who have registered with IRS but have not obtained a GIIN should indicate to the withholding agents that the GIIN is applied for

RBI/2014-15/372DBR. AML.No. 9644/14.07.018/2014-15 December 30, 2014 The Chairpersons / CEOs of all Scheduled Commercial BanksRRBs/Local Area Banks / All India Financial Institutions Dear Madam/Sir, Inter-Governmental Agreement (IGA) with United States of America (US)under Foreign Accounts Tax Compliance Act (FATCA)- Registration Please refer to our circular DBOD. AML. No. 20472 /14.07.018/2013-14 dated June 27, 2014 on the captioned … Read more

RBI liberalize certain regulations of Overseas Direct Investments by Indian Party

RBI/2014-15/371A.P. (DIR Series) Circular No.54 December 29, 2014 To All Category – I Authorised Dealer Banks Madam / Sir, Overseas Direct Investments by Indian Party – Rationalization / Liberalization Attention of the Authorised Dealer (AD – Category I) bank is invited to Regulation 18 and 18A of Notification No. FEMA.120/RB-2004 dated July 7, 2004 [Foreign Exchange Management … Read more

Government to set up Saffron Production & Export Development Agency – (SPEDA)

Government has approved setting up of the Specialized Agency under the Spices Board with the nomenclature of ‘Saffron Production & Export Development Agency (SPEDA) to be headquartered at Srinagar (J&K) to plan and implement programmes for development and promotion of exports of quality saffron.  The agency will be set up by the Spices Board in … Read more

Amendments made in the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013

The Act came into effect from 01.01.2014 but it has been reported that many difficulties are being faced in its implementation.  In order to remove them, certain amendments have been made in the Act to further strengthen the provisions to protect the interests of the ‘affected families’.  In addition, procedural difficulties in the acquisition of … Read more

Format of resolution of removal of auditor from his office before expiry of his term

RESOLVED THAT pursuant to provisions of section 140 of the Companies Act, 2013 (including any amendments thereto or re-enactment thereof) (the “Act”) and other applicable provision of Company Act, subject to the prior approval of central government and of shareholders in the general meeting, the consent of the Board be and is hereby accorded for removal … Read more

Format of resolution for appointment of Statutory Auditor

RESOLVED THAT pursuant to provision of section 139 of the Companies Act 2013 (as amended or re-enacted from time to time) and other applicable provision of the companies Act 2013 and considering the recommendations made by the Audit Committee (mentioned only if applicable), the consent of the Board be and is hereby recommends M/s………, Chartered Accountants … Read more