Reliance Retirement Fund is notified for section 80C of the Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 23rd  December, 2014 (INCOME TAX) Notified Pension Fund under Section 80C(2)(xiv) S.O. 3261(E).—In exercise of the powers conferred by clause (xiv) of sub- section (2) of Section 80C of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby … Read more

Format of resolution of alteration to the MOA as to change of object clause

Shareholders Resolution “RESOLVED THAT pursuant to the provisions of section 13, 15 and other applicable provisions, if any, of the Companies Act, 2013 (Act) read with rule no. 32 (mentioned if applicable), of Companies (Incorporation) Rules, 2014 (including any statutory modification(s) or re-enactment thereof for the time being in force), the object clause of the company be … Read more

ICAI may take action against the members on issues raised in C&AG report

Attention has been drawn to certain issues raised on the certification work done by the members of the profession in the report of Comptroller and Auditor General of India (C&AG) entitled ‘Appreciation of Third Party (Chartered Accountant) Reporting in Assessment proceedings’ (Report No. 32 of 2014). The issues raised in said report were deliberated in the recent … Read more

Format of resolution of Increase of authorized share capital

“RESOLVED THAT pursuant to the provisions of Section 13 and Section 61 and other applicable provisions, if any, of the Companies Act 2013, (Act) and rules made there under (including any statutory modification or re-enactment thereof for the time being in force), Articles of Association, the consent of the members be and is hereby accorded to … Read more

ICAI is Nominated for Swachh Bharat Abhiyan by Hon’ble Prime Minister Shri Narendra Modi

To take part in the cleanliness drive to mark “Good Governance Day” the Prime Minister Shri Narendra Modi visited Varanasi on Dec 25’14. During the visit, Hon’ble Prime Minister nominated the Institute of Chartered Accountants of India (ICAI) for the Swachh Bharat Abhiyan in addition to other personalities and organisations. While announcing the Swachh Bharat … Read more

SEBI issued the exit order of Bangalore Stock Exchange Ltd

1.      Whole Time Member, SEBI, has passed an Order on December 26, 2014 providing the exit to Bangalore Stock Exchange Limited (“BgSE”). BgSE is the seventh Stock Exchange to exit under this policy. 2.      SEBI vide Circular dated May 30, 2012 had issued the Guidelines for exit of stock exchanges. This contained details of the conditions for … Read more

Insurance Laws (Amendment) Ordinance, 2014 to Make Amendments to the Insurance Acts

Insurance Laws (Amendment) Ordinance, 2014 to Make Amendments to the Insurance Act, 1938, the General Insurance Business (Nationalization) Act, 1972 and the Insurance Regulatory and Development Authority Act, 1999  The Union Cabinet had approved the promulgation of the Insurance Laws (Amendment) Ordinance 2014 to amend the Insurance Act, 1938, the General Insurance Business (Nationalisation) Act, … Read more

Custom duty on crude and refined edible oils is increased – Custom Notification 34/2014

TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]  MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 34 /2014-Customs New Delhi, the 24th December, 2014                          G.S.R. (E). – In exercise of the powers conferred by sub-section (1) of             section 25 of … Read more

SEBI issued the exit order of Cochin Stock Exchange Ltd (CoSE)

Whole Time Member, SEBI, has passed an Order on December 23, 2014 providing the exit to Cochin Stock Exchange Limited (“CoSE”). CoSE is the sixth Stock Exchange to exit under this policy. SEBI vide Circular dated May 30, 2012 had issued the Guidelines for exit of stock exchanges. This contained details of the conditions for … Read more

Wasankar Wealth Management Limited ceased from undertaking the portfolio management activities – SEBI order

Shri Rajeev Kumar Agarwal, Whole Time Member, SEBI, passed confirmatory order on  December 10, 2014 in the matter of Wasankar Wealth Management Limited, Mr. Prashant Wasankar having Trade name – Wasankar Investments,   Mr. Vinay Wasankar, Ms. Mithila Wasankar, Mr. Abhijeet Chaudhari and Ms. Bhagyashree Wasankar and confirmed the following directions issued vide order dated August 27, 2014. … Read more