Daily Archives: February 19, 2016

Ayurvedic Formulation for Treatment of Malaria & Diabetes

By | February 19, 2016

Agreement for Commercialisation of an Ayurvedic Formulation for Treatment of Malaria and an Ayurvedic Formulation for Treatment of Diabetes National Research Development Corporation (NRDC), an Enterprise of the Department of Scientific & Industrial Research, Ministry of Science & Technology, Govt. of India, New Delhi and M/s Dabur India Ltd., New Delhi have entered into License… Read More »

Civil Services Main Examination 2015 Result declared

By | February 19, 2016

Civil Services Main Examination 2015 Result declared On the basis of the Result of the Civil Services (Main) Examination, 2015 held by the Union Public Service Commission from 18th to 23rd December, 2015, the candidates with the following Roll Numbers have qualified for the Personality Test for selection to the Indian Administrative Service, Indian Foreign… Read More »

Interest on fixed deposits is Capital receipt as FDR was linked with Setting up of Power Plant

By | February 19, 2016

Facts of the case The Assessing Officer had noted that the assessee had received an amount of Rs. 70,75,843/- from State Bank of Mysore as interest on fixed deposits but that the said amount was not declared in the return of income as ‘income from other sources’. It was also noted by the Assessing Officer… Read More »

Service tax on all Services Provided by Govt to Business Entities w.e.f 01.4.2016

By | February 19, 2016

Seeks to appoint 1th day of April, 2016 as the date with effect from which the provisions of Section 109(1) as contained in the Finance Act, 2015 shall come into effect.   [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE  (DEPARTMENT OF… Read More »

No Service Tax on Services provided by Government to Business entity having turnover upto Rs 10 Lakh

By | February 19, 2016

Seeks to amend Notification No. 25/2012 by inserting new entry for granting exemption from service tax for the services provided by Government or a local authority to a business entity having turnover upto rupees of ten lakh in the preceding financial year [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3,… Read More »

IRDA Guidelines on Product Filing Procedures for General Insurance Products

By | February 19, 2016

Guidelines on Product Filing Procedures for General Insurance Products The guidelines on product filing procedures for general insurance products are issued considering the actual experience gained on the guidelines and circulars on file and use requirements for general insurance products in force, evolving needs of consumers and flexibility required for general insurers to respond to… Read More »

SEBI issued Regulations in case of dissenting shareholders

By | February 19, 2016

CONDITIONS AND MANNER OF PROVIDING EXIT OPPORTUNITY TO DISSENTING SHAREHOLDERS   THE GAZETTE OF INDIA EXTRAORDINARY PART – III – SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, February 17, 2016 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 17th February, 2016 SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) (SECOND… Read More »

SEBI AMENDED SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS REGULATIONS

By | February 19, 2016

THE GAZETTE OF INDIA EXTRAORDINARY PART – III – SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, February 17, 2016 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 17th February, 2016 SECURITIES AND EXCHANGE BOARD OF INDIA (SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS) (AMENDMENT) REGULATIONS, 2016 No. SEBI/LAD-NRO/GN/2015-16/035.─ In exercise of the powers conferred under… Read More »

NBFCs not to undertake PoP services for National Pension System :RBI

By | February 19, 2016

Undertaking of Point of Presence (PoP) Services under Pension Fund Regulatory and Development Authority for National Pension System (NPS) RBI/2015-16/324 DNBR (PD) CC.No. 073/03.10.001/2015-16 February 18, 2016 All Non-Banking Financial Companies Madam/ Sir, Undertaking of Point of Presence (PoP) Services under Pension Fund Regulatory and Development Authority for National Pension System (NPS) The Reserve Bank of India… Read More »

Vasai Vikas Sahakari Bank Ltd included in 2nd Schedule of RBI

By | February 19, 2016

Inclusion in the Second Schedule to the Reserve Bank of India Act, 1934 – “  Vasai Vikas Sahakari Bank Ltd, Vasai Thane ” Source : Reserve Bank of India RBI/2015-16/325 DCBR CO. BPD.BC. No.10/16.05.000/2015-16 Magha 29, 1937 February 18, 2016 All Banks Dear Sir/Madam Inclusion in the Second Schedule to the Reserve Bank of India… Read More »

RBI issued directions for receivable acquired by NBFC- Factor

By | February 19, 2016

Source : Reserve Bank of India RBI/2015-16/326 DNBR.CC.PD.No.074/03.10.01/2015-16 February 18, 2016 To All Non-Banking Financial Companies (NBFCs) – Factors. NBFC – Factors (Reserve Bank) Directions, 2012 – Review The Reserve Bank of India had reviewed the guidelines on provision of factoring services by banks and specified certain conditions under which banks can departmentally undertake factoring… Read More »

RBI Revised limit for reporting of Fraud by NBFCs to CFMC

By | February 19, 2016

Source : Reserve Bank of India RBI/2015-16/327 DNBR (PD) CC.No.075/03.10.001/2015-16 February 18, 2016 All Deposit taking NBFCs (including RNBCs) and NBFCs- ND-SI Madam/ Sir, Frauds – Future approach towards monitoring of frauds in NBFCs Please refer to circulars DNBS.PD.CC.No.127/ 03.10.42/2008-09 dated August 14, 2008, DNBS.PD.CC.No.256/03.10.042/2011-12 dated March 02, 2012 andDNBS.PD.CC.No.314/03.10.042/2012-13 dated December 13, 2012 on… Read More »

E-flow of all important rivers of the country

By | February 19, 2016

Uma Bharti asks her Ministry Officials to Work in Mission Mode for Successful Completion of Various Schemes Union Minister for Water Resources, River Development and Ganga Rejuvenation Sushri Uma Bharti has asked her Ministry officials to work in mission mode for successful completion of various schemes. Chairing a high level meeting held in New Delhi… Read More »

Govt Clarifications on implementation FATCA and CRS

By | February 19, 2016

Clarification for implementation of FATCA and CRS An Inter-Governmental Agreement between India and USA was signed for implementation of Foreign Account Tax Compliance Act (FATCA). The Government of India has also joined the Multilateral Competent Authority Agreement (MCAA) for Automatic Exchange of Information as per Common Reporting Standard (CRS). To provide guidance for implementation of… Read More »

Govt Notifed what is startup enterprises

By | February 19, 2016

Startup enterprises Read Startup Entity redefined by Govt – Notification THE GAZETTE OF INDIA EXTRAORDINARY [PART II—SEC. 3(i)] MINISTRY OF COMMERCE AND INDUSTRY (Department of Industrial Policy and Promotion) NOTIFICATION New Delhi, the 17th February, 2016 G.S.R. 180(E).—The Government of India has announced ‘ Startup India ’ initiative for creating a conducive environment for startups in… Read More »

PM unveils operational guidelines for Pradhan Mantri Fasal Bima Yojana

By | February 19, 2016

PM unveils operational guidelines for Pradhan Mantri Fasal Bima Yojana; addresses massive farmers’ rally in Sehore Digital Platform for National Agriculture Market to be launched on Babasaheb Ambedkar’s birth anniversary on April 14th The Prime Minister, Shri Narendra Modi, today unveiled the operational guidelines for the Pradhan Mantri Fasal Bima Yojana at a massive farmers’… Read More »

Andhra University to start the IIPE sessions

By | February 19, 2016

Signing of MoU Between IIPE and Andhra University Ministry of Petroleum and Natural Gas (MoPNG), Government of India has established Indian Institute of Petroleum and Energy (IIPE), Visakhapatnam, as noted in the Andhra Pradesh Reorganisation Act (2014), with the mandate to lead the nation forward in education, research and training related to all areas of… Read More »

The national flag will be flown at every university

By | February 19, 2016

Resolutions Unanimously Passed at the Conference of Central University Vice-Chancellors The Union Minister of Human Resource Development Smt Smriti Zubin Irani chaired the conference of Central University Vice Chancellors at Surajkund (Faridabad) today. Following resolutions were passed unanimously at the Conference: 1. In order to optimize academic output of the student community, universities to institutionalize… Read More »