Lets you compute the interest payable under Sections 234 A/B/C for late filing of IT Return. Input the actual tax liability, TDS deducted, and Advance Tax details to find out the interest payable by you for the specified Assessment Year under Sections 234 A/B/C.
Interest Payable under Sections 234 A/B/C Calculator
Posted by Studycafe
Posted on Saturday, March 30, 2013
with 1 comment
ICAI MAY 2013 EXAMS POSTPONED
Posted by Studycafe
Posted on Wednesday, March 27, 2013
with No comments
TO BE PUBLISHED IN PART III SECTION 4 OF THE GAZETTE OF INDIA
NOTIFICATION
25th March, 2013
No.13-CA(Exam)/M/2013/II: In partial modification of the Institute’s Notification No. 13 CA(Exam)/M/2013 dated 19th December, 2012, it is notified for general information that in view of the Election to the Karnataka State Legislative Assembly, Group – 1, Paper 2, Strategic Financial Management of Final Examination and Group – 1, Paper – 2, Business Laws, Ethics and Communications of Intermediate (Integrated Professional Competence) Examination scheduled to be held on 4th and 5th May, 2013 at Bangalore, Belgaum, Bellary, Hubli, Mangalore, Mysore and Udupi centre(s) stand postponed and the examination in the said paper(s) shall now be held at on 18th May and 17th May 2013 respectively at the same venue and at the same timings i.e. 2.00 PM to 5.00 PM.
Admit Cards already issued would remain valid.
However, it is clarified that the schedule of examinations notified vide Notification No.13- CA(Exam)/M/2013 dated 19th December 2012 in respect of all other cities shall remain unchanged.
To see the official Announcement Click here
FIIs permitted to offer Corporate bonds and Government securities as collateral
Posted by Studycafe
Posted on Saturday, March 23, 2013
with No comments
CIRCULAR No. CIR/MRD/DRMNP/9/2013 Dated – March 20, 2013
Sub: Corporate bonds and Government securities as collateral
1. Please refer to SEBI circular Nos. SEBI/DNPD/Cir- 32/2007 dated September 11, 2007 and CIR/MRD/DP/15/2010 dated April 28, 2010 permitting FIIs to offer, as collateral, cash and foreign sovereign securities with AAA rating in F&O segment and cash, foreign sovereign securities with AAA rating and government securities in cash segment.
2. The Hon’ble Finance Minister, in his announcement in the Union Budget for the year 2013 -14, has proposed, inter-alia, to permit FIIs to use their investment in corporate bonds and Government securities as collateral to meet their margin requirements towards their transactions on the recognized Stock Exchanges in India.
3. Reserve Bank of India vide RBI/2012-13/439 A.P. (DIR Series) Circular No. 90 (Flag A) dated March 14, 2013 has permitted FIIs to use, in addition to already permitted collaterals, their investments in corporate bonds as collateral in the cash segment and government securities and corporate bonds as collaterals in the F & O segment.
4. In light of the above, henceforth FIIs are permitted to offer the following collaterals – government securities, corporate bonds, cash and foreign sovereign securities with AAA ratings, for their transactions in both cash and F&O segments.
In this regard, the stipulations specified by SEBI and RBI with regard to the acceptance of various collaterals shall be adhered to.
5. Further, Clearing Corporations while enabling the framework for acceptance of corporate bonds as collateral for transactions of any entity in the cash and F&O segments, shall ensure that:
i) The bonds shall have a rating of AA or above (or with similar rating nomenclature) by recognised credit rating agencies.
ii) The bonds shall be in dematerialized form.
iii) The bonds shall be treated as part of the non-cash component of the liquid assets of the clearing member and shall not exceed 10% of the total liquid assets of the clearing member.
iv) The bonds shall have a fixed percentage based or VaR based haircut. A higher haircut may be considered to cover the expected time frame for liquidation. To begin with the haircut shall be a minimum of 10%.
6. The earlier circulars issued by SEBI with regard to acceptance of collaterals stand modified accordingly.
7. The Stock Exchanges/Clearing Corporations are advised to:
a. make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision.
a. make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision.
b. bring the provisions of this circular to the notice of the member brokers/clearing members of the Exchange/Clearing Corporation and also to disseminate the same on the website.
c. communicate to SEBI, the status of the implementation of this circular in the Monthly Development Report.
8. This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 read with Section 10 of the Securities Contracts (Regulation) Act, 1956 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
This Article has been posted by Vinanti Zatakiya. She Can be reached at vinanti2504@gmail.com
This Article has been posted by Vinanti Zatakiya. She Can be reached at vinanti2504@gmail.com
Guidance Note on Audit of Banks 2013 Edition. - (15-03-2013)
Posted by Studycafe
Posted on Tuesday, March 19, 2013
with No comments
ICAI has issued new Guidance Note on Audit of Banks 2013 Edition. - (15-03-2013)
To Download Click Here
MCA signs MoUs for developing a Comprehensive system for early detection of corporate frauds.
Posted by Studycafe
Posted on Tuesday, March 19, 2013
with 1 comment
MCA signs MoUs for developing a Comprehensive system for early detection of corporate frauds.
Signing of MOUs between Ministry of Corporate Affairs and Financial intelligence unit & NIELIT Giving a fillip to the early establishment of a state-of-art Forensic Lab within the premises of Serious Fraud Investigation Office (SFIO) in the national capital; and the development of a Comprehensive Early Warning System (EWS) for detection of corporate fraud and malfeasance at the earliest, three important MoUs were signed here today in the Ministry of Corporate Affairs in the presence of Shri Sachin Pilot, Minister of Corporate Affairs.
Shri. Naved Masood, Secretary, Ministry of Corporate Affairs was also present on the occasion.
As per the Memorandum, NIELIT will set up a state-of-art Forensic Lab within the premises of SFIO – with a total outlay of Rs. 3.80 Crore on a turnkey basis, to be completed in two phases.
The MoUs signed with FIU-IND will lead to better and faster exchange of information between the 3 Govt. of India entities. FIU has been playing a pivotal role in the collection and dissemination of information on suspicious banking transactions under the Prevention of Money Laundering Act, 2002. FIU-IND has been helping both the Ministry and SFIO from time to time by supplying information on suspicious banking transactions. Having access to banking information as well as expertise of FIU, the MoU will help SFIO in conducting its investigation in a more effective manner. These initiatives will facilitate development of a comprehensive EWS for detection of fraud and malfeasance at the earliest.
This Article has been posted by Vinanti Zatakiya. She Can be reached at vinanti2504@gmail.com
Signing of MOUs between Ministry of Corporate Affairs and Financial intelligence unit & NIELIT Giving a fillip to the early establishment of a state-of-art Forensic Lab within the premises of Serious Fraud Investigation Office (SFIO) in the national capital; and the development of a Comprehensive Early Warning System (EWS) for detection of corporate fraud and malfeasance at the earliest, three important MoUs were signed here today in the Ministry of Corporate Affairs in the presence of Shri Sachin Pilot, Minister of Corporate Affairs.
The MoUs signed were:
1. Between Director, SFIO ( which functions under the Ministry of Corporate Affairs) and Director, National Institute of Electronics and Information Technology (NIELIT), a scientific organization under the Ministry of Communications and Information Technology;
1. Between Director, SFIO ( which functions under the Ministry of Corporate Affairs) and Director, National Institute of Electronics and Information Technology (NIELIT), a scientific organization under the Ministry of Communications and Information Technology;
2. Between Joint Secretary, Ministry of Corporate Affairs and Director, Financial Intelligence Unit (FIU-IND), an agency under the Ministry of Finance; and 3. Director, SFIO and Director, FIU-IND.
Shri. Naved Masood, Secretary, Ministry of Corporate Affairs was also present on the occasion.
As per the Memorandum, NIELIT will set up a state-of-art Forensic Lab within the premises of SFIO – with a total outlay of Rs. 3.80 Crore on a turnkey basis, to be completed in two phases.
The MoUs signed with FIU-IND will lead to better and faster exchange of information between the 3 Govt. of India entities. FIU has been playing a pivotal role in the collection and dissemination of information on suspicious banking transactions under the Prevention of Money Laundering Act, 2002. FIU-IND has been helping both the Ministry and SFIO from time to time by supplying information on suspicious banking transactions. Having access to banking information as well as expertise of FIU, the MoU will help SFIO in conducting its investigation in a more effective manner. These initiatives will facilitate development of a comprehensive EWS for detection of fraud and malfeasance at the earliest.
This Article has been posted by Vinanti Zatakiya. She Can be reached at vinanti2504@gmail.com
Non CTS cheques Valid till 31.07.2013,
Posted by Studycafe
Posted on Tuesday, March 19, 2013
with No comments
RBI/2012-13/444
DPSS.CO.CHD.No. 1622/04.07.05/2012-13
March 18, 2013
The Chairman and Managing Director / Chief Executive Officer
All Scheduled Commercial Banks including RRBs /
Urban Co-operative Banks / State Co-operative Banks /
District Central Co-operative Banks/Local Area Banks
Madam / Dear Sir,
Standardization and Enhancement of Security Features in Cheque Forms/Migrating to CTS 2010 standards
A reference is invited to our circular DPSS.CO.CHD.No. 955/04.07.05/2012-13 dated December 14, 2012. On a review of the progress made by banks so far in migration to CTS-2010 standard cheques and in consultation with a few banks and Indian Banks Association, it has been decided to put in place the following arrangements for clearing of residual non-CTS-2010 standard cheques beyond the cutoff date of March 31, 2013.
*All cheques issued by banks (including DDs / POs issued by banks) with effect from the date of this circular shall necessarily conform to CTS-2010 standard.
*Banks shall not charge their savings bank account customers for issuance of CTS-2010 standard cheques when they are issued for the first time. However, banks may continue to follow their existing policy regarding cheque book issuance for additional issuance of cheques, in adherence to their accepted Fair Practices Code.
*All residual non-CTS-2010 cheques with customers will continue to be valid and accepted in all clearing houses [including the Cheque Truncation System (CTS) centers] for another four months up to July 31, 2013, subject to a review in June 2013.
*Cheque issuing banks shall make all efforts to withdraw the non-CTS-2010 Standard cheques in circulation before the extended timeline of July 31, 2013 by creating awareness among customers through SMS alerts, letters, display boards in branches/ATMs, log-on message in internet banking, notification on the web-site etc.
*A progress report in this regard to be submitted to this department in the format prescribed in the annex, enabling monitoring of the progress made by
banks in respect of migration to CTS-2010 standard cheques.
*In addition, the bank-wise volume of inward clearing instruments processed in the Cheque Processing Centers will be monitored with respect to the CTS-2010 / non-CTS-2010 standard cheques presented on them.
*No fresh Post Dated Cheques (PDC)/Equated Monthly Installment (EMI) cheques (either in old format or new CTS-2010 format) shall be accepted by lending banks in locations where the facility of ECS/RECS (Debit) is available. Lending banks shall make all efforts to convert existing PDCs in such locations into ECS/RECS (Debit) by obtaining fresh mandates from the borrowers.
2. The above instructions are issued under section 18 of the Payment and Settlement Systems Act 2007 (Act 51 of 2007).
3. Please acknowledge receipt and confirm compliance.
Yours faithfully,
(Vijay Chugh)
Chief General Manager
Encl: Annex_________________________
Annex
Report showing the progress made in the issuance of CTS-2010 standard cheques and replacement of non-CTS-2010 standard cheques for the month of …………….
(Consolidated report to be submitted by the corporate/head office of all cheque issuing banks to the Department of Payment and Settlement Systems, Central Office, Reserve Bank of India, Mumbai before 10th of the succeeding month)
1. Name of the Bank:
2. Date with effect which the bank has commenced issuing CTS-2010 Standard cheques across all branches:
3. Number of accounts to which CTS-2010 standard instruments are yet to be issued:
a) Savings Bank Accounts:
b) Business Accounts:
4. Briefly describe the efforts taken by the bank to replace the non-CTS-2010 standard cheques with the CTS-2010 standard compliant cheques:
This Article has been posted by Vinanti Zatakiya. She Can be reached at vinanti2504@gmail.com
DPSS.CO.CHD.No. 1622/04.07.05/2012-13
March 18, 2013
The Chairman and Managing Director / Chief Executive Officer
All Scheduled Commercial Banks including RRBs /
Urban Co-operative Banks / State Co-operative Banks /
District Central Co-operative Banks/Local Area Banks
Madam / Dear Sir,
Standardization and Enhancement of Security Features in Cheque Forms/Migrating to CTS 2010 standards
A reference is invited to our circular DPSS.CO.CHD.No. 955/04.07.05/2012-13 dated December 14, 2012. On a review of the progress made by banks so far in migration to CTS-2010 standard cheques and in consultation with a few banks and Indian Banks Association, it has been decided to put in place the following arrangements for clearing of residual non-CTS-2010 standard cheques beyond the cutoff date of March 31, 2013.
*All cheques issued by banks (including DDs / POs issued by banks) with effect from the date of this circular shall necessarily conform to CTS-2010 standard.
*Banks shall not charge their savings bank account customers for issuance of CTS-2010 standard cheques when they are issued for the first time. However, banks may continue to follow their existing policy regarding cheque book issuance for additional issuance of cheques, in adherence to their accepted Fair Practices Code.
*All residual non-CTS-2010 cheques with customers will continue to be valid and accepted in all clearing houses [including the Cheque Truncation System (CTS) centers] for another four months up to July 31, 2013, subject to a review in June 2013.
*Cheque issuing banks shall make all efforts to withdraw the non-CTS-2010 Standard cheques in circulation before the extended timeline of July 31, 2013 by creating awareness among customers through SMS alerts, letters, display boards in branches/ATMs, log-on message in internet banking, notification on the web-site etc.
*A progress report in this regard to be submitted to this department in the format prescribed in the annex, enabling monitoring of the progress made by
banks in respect of migration to CTS-2010 standard cheques.
*In addition, the bank-wise volume of inward clearing instruments processed in the Cheque Processing Centers will be monitored with respect to the CTS-2010 / non-CTS-2010 standard cheques presented on them.
*No fresh Post Dated Cheques (PDC)/Equated Monthly Installment (EMI) cheques (either in old format or new CTS-2010 format) shall be accepted by lending banks in locations where the facility of ECS/RECS (Debit) is available. Lending banks shall make all efforts to convert existing PDCs in such locations into ECS/RECS (Debit) by obtaining fresh mandates from the borrowers.
2. The above instructions are issued under section 18 of the Payment and Settlement Systems Act 2007 (Act 51 of 2007).
3. Please acknowledge receipt and confirm compliance.
Yours faithfully,
(Vijay Chugh)
Chief General Manager
Encl: Annex_________________________
Annex
Report showing the progress made in the issuance of CTS-2010 standard cheques and replacement of non-CTS-2010 standard cheques for the month of …………….
(Consolidated report to be submitted by the corporate/head office of all cheque issuing banks to the Department of Payment and Settlement Systems, Central Office, Reserve Bank of India, Mumbai before 10th of the succeeding month)
1. Name of the Bank:
2. Date with effect which the bank has commenced issuing CTS-2010 Standard cheques across all branches:
3. Number of accounts to which CTS-2010 standard instruments are yet to be issued:
a) Savings Bank Accounts:
b) Business Accounts:
4. Briefly describe the efforts taken by the bank to replace the non-CTS-2010 standard cheques with the CTS-2010 standard compliant cheques:
This Article has been posted by Vinanti Zatakiya. She Can be reached at vinanti2504@gmail.com
Tax Free Bond
Posted by Studycafe
Posted on Sunday, March 17, 2013
with No comments
*GENERAL CIRCULAR NO. 6/2013* [FILE NO. 5/03/2013-CL-V], *DATED 14-3-2013*Subject: Clarification under Section 372A(3) of the Companies Act,1956.
Such bonds were also provided for in Budget 2012-13, but the response had been poor due to restrictions under section 372A(3) of the Companies Act, 1956.
It is observed from the Budget 2013-14 authorizes Union Govt. to raise Rs. 50,000 crores (Tax Free Bonds). These bonds carry a lower rate of interest, currently in the range of 6.75% to 7.50% which is tax free under section 10(15) (iv)(h) of the Income-tax Act, 1961.
Such bonds were also provided for in Budget 2012-13, but the response had been poor due to restrictions under section 372A(3) of the Companies Act, 1956.
--> Ministry of Finance had drawn the attention of this Ministry to section 372A(3) of the Companies Act with a view to effectively implement the announcement made in the Budget. Section 372A(3) of the Act "inter alia "provides that “No loan to any body corporate shall be made at a rate of interest lower than the prevailing bank rate, being standard rate made public under section 49 of the Reserve Bank of India Act, 1934 (2 of 1934)”.
--> It is hereby clarified that in cases where the effective yield (effective rate of return) on tax free bonds is greater than the yield on prevailing bank rate, there is no violation of section 372A(3) of Companies Act, 1956.
--> This circular is effective from the date of issue.
--> This issues with the approval of Hon’ble Corporate Affairs Minister.
This Article has been posted by Vinanti Zatakiya. She Can be reached at vinanti2504@gmail.com
Drive Against Fake Pan Cards
Posted by Studycafe
Posted on Sunday, March 17, 2013
with No comments
The Government has launched drive against fake Permanent Account Number (PAN) cards. As a continuous process, in order to know the genuineness of Know Your Customer (KYC) documents on Proof of Identity (POI) and Proof of Address (POA), third party field verification is conducted after allotment of PAN. The information of failed KYC verification is made available to field formations of Department to mark the event in respect of PAN as ‘FAKE’ through Assessee Information System (AIS) application software.
Also, check on duplicate allotment of PANs to existing PAN allottees is an inbuilt feature of PAN allotment software process which works as a continuous process.
The following is the number of PAN marked as Fake:
Year No. of Cases
Before 1.4.2009 -136
2009-10. -37
2010-11. -56
2011-12. -100
2012-13(till date) -180
Total. -509
The following is the number of PAN marked as Fake:
Year No. of Cases
Before 1.4.2009 -136
2009-10. -37
2010-11. -56
2011-12. -100
2012-13(till date) -180
Total. -509
Of the total PAN allotment, 96.35% PAN allotments are under the category of “Individual” applicants and maximum fake/duplicates are also observed under individual category. For uniquely identifying the PAN allotted and to overcome the problems of fake PANs, issue of more than one PAN to an individual and to clean up the PAN database duplicates, capturing of Aadhaar in revised PAN application from 49A has been started on voluntary basis. 3,04,452 unique Aadhaar numbers have been seeded/incorporated into PAN database. For KYC strengthening, the format of certificate of Identity/Address issued by MP/MLA/Municipal Counselor/Gazetted officer has been prescribed.
This information was given by the Minister of State for Finance, Shri S.S. Palanimanickam in written reply to a question in Lok Sabha today.
This information was given by the Minister of State for Finance, Shri S.S. Palanimanickam in written reply to a question in Lok Sabha today.
This Article has been posted by Vinanti Zatakiya. She Can be reached at vinanti2504@gmail.com
Repco Home Finance IPO
Posted by Studycafe
Posted on Thursday, March 14, 2013
with No comments
Repco Home Finance Ltd (RHFL) is coming out with an initial public offering ( IPO) for a fresh issue of 15,720,262 equity shares with a face value of Rs10 each in order to mobilise Rs259.4 crore (at the lower end of the price band) to Rs270.4 crore (at the upper end of the price band).
Repco Home Finance (RHFL) is a housing finance company, promoted by Repco Bank.RHFL intends to use the net proceeds for augmenting its capital base to meet its growth related capital requirements for the next three years.
This article has been posted by Jayant Makkar. He can be reached at jayantmakkar@gmail.com
Repco Home Finance (RHFL) is a housing finance company, promoted by Repco Bank.RHFL intends to use the net proceeds for augmenting its capital base to meet its growth related capital requirements for the next three years.
This article has been posted by Jayant Makkar. He can be reached at jayantmakkar@gmail.com
IT notice to Shell India, Is it Tax on FDI
Posted by Studycafe
Posted on Monday, March 11, 2013
with No comments
It’s pretty much definite that we all have heard of Vodafone case and constitute same a landmark in Indian Judicial System.
Possibly Shell India case will be
one such case too shaking the roots of FDI
by probing in to the system.
The recent news is that Shell India had received a notice
from Income Tax Department on tax evasion in the month of January and Shri. Prasenjit Bhattacharya
representing Shell India said that they would challenge the notice.
To understand the case better let me just take you through
the granny’s story of Shell India:
Decades ago an Royal
Dutch Shell being an Anglo-Dutch multinational oil and gas company wanted
to enter into the south Asian Countries. In India it incorporated a co. by the
name Shell India Markets Pvt Ltd. as an Indian Co. and was controlling Shell India (the Child) by Shell Gas BV (the parent) a foreign
company. Shell Gas BV was holding 100% stake in Shell India. To intensify its
business proceedings in India Shell India came out with issue of equity shares
in the year 2009. And the stage was well set for the IT Dept. to make its entry
when all of such shares were bought by Shell Gas BV(Foreign Co.) i.e. nothing
but Foreign (In)Direct Investment of Rs. 87 Crores , the area of conflict
being that all such shares were issued at Rs.
10/Share (18 US Cents) . And here comes the twist in the story, the
entry was late but it was the ultimate and latest thing that happened when IT
Dept. sent a notice in Jan 2013 to Shell Gas BV depicting that the Shell India
was undervalued in connection with the Equity issue in the March 2009 the shares issue to Shell Gas BV were
issued at Rs.10/share, but the
income-tax authorities peg the deal at Rs.183/share.
Shri. Prasenjit Bhattacharya after
consultation with Shri. Vikram Mehta
(CEO Shell India) said on Monday 4th of February that it would
challenge a tax department notice which claims that it underpriced a sale of
shares to an overseas group company by $
2.7 Billion and claimed that “Recent
media reports on tax evasion are baseless, and Shell India will challenge this
order strongly and is evaluating all options for redress” and they dint
reveal the amount of tax demand raised in connection to tax evasion. The future is left with the decision of the
one in the scorner’s seat. This case could go any way round, being a happy
ending to either of the parties.
After reading the granny’s story of Shell you are expected
to be left with following questions:
v Will Shell India have an Happy ending in this case ?
Possibly Yes! As the
Shell said the adjustment was on account of an issue of equity shares by Shell
India to its sole parent, Shell Gas BV, in March 2009 to finance investments
and to fund business activities. Shell Gas BV was the only parent of Shell
India before this equity issue and continued to be so after the issue, it said.
Rs
15,220 Crores ($2.7-billion) adjustment has been proposed in the transfer
pricing order of FY-09 of Shell India
Markets Pvt Ltd (Shell India), a wholly owned subsidiary of the Royal Dutch
Shell Group of Companies.
Adding on to the same Tax
experts said the valuation of the unlisted company was a grey area and would
lead to litigation, just like the Vodafone case. “In a listed company, the valuation is based on SEBI (Securities and
Exchange Board of India) formula, which is the average of six-month or two-week
share price, whichever is higher,” said R S Loona, managing partner of Alliance Corp Lawyers. “But in
unlisted companies, the valuation can be based on fair market price, or book
value, or returns on share based on a certification by an independent valuer.”
And to the best of my
knowledge "there are no provisions
under the income tax law for such revaluation."
Yasmine Hilton, chairman of Shell
Group of Companies in India, said in a statement “Taxing the money received by Shell India is
in effect a tax on foreign direct investment, which is contrary not only to law but also to the
spirit of the recent global trip by the (Indian) finance minister to attract
further FDI into India.”
One more common
sense point is being that “One can’t
make money by mere purchase.”
v Can IT Dept. make a global breakthrough against Shell India?
This part is
still poised and kept suspense as Income tax authorities couldn't be reached by
media for comment or IT Dept dint wanted to disclose the same now and wanted to
keep its arguments awaited.
We all have witnessed Income Department making
retrospective amendments in revenue interest in the landmark Vodafone Case. As
the amount of tax demand in this case too is high, I won’t be amazed if there
are any such amendments in near future to bring Shell India under the lights of
Tax demanded.
Irrespective of the outcome the points of
argument and the expected changes in the law will remain to be good things to
learn. Please feel free to post your views, suggestions and recommendations in
the comment box.
SEBI Board Meeting
Posted by Studycafe
Posted on Monday, March 11, 2013
with No comments
The SEBI Board met in New Delhi & took the following decisions:
1. Regulations for issuance andlisting of non-converti- bleredeemable preference shares:
The Board approved the SEBI (Issue and Listing of Non-ConvertibleRedeemable
As per Basel III norms, Banks can issue non-equity instruments such as Perpetual Non-Cumulative Preference Shares and Innovative Perpetual Debt Instruments, which are in compliance with the specified criteria for inclusion in Additional Tier I Capital. The proposed Regulations shall, mutatis mutandis, be applicable to aforesaid instruments issued by banks, subject to compliance with the provisions of Companies Act, 1956 or/ and any other applicable laws and such other conditions that may be specified by SEBI and subject to making adequate disclosures and relevant risk factors in the offer document.
As per Basel III norms, Banks can issue non-equity instruments such as Perpetual Non-Cumulative Preference Shares and Innovative Perpetual Debt Instruments, which are in compliance with the specified criteria for inclusion in Additional Tier I Capital. The proposed Regulations shall, mutatis mutandis, be applicable to aforesaid instruments issued by banks, subject to compliance with the provisions of Companies Act, 1956 or/ and any other applicable laws and such other conditions that may be specified by SEBI and subject to making adequate disclosures and relevant risk factors in the offer document.
2. SEBI Budget for 2013 -14:
The Board also approved the Budget of SEBI for financial year 2013-14 with focus on investor education and awareness, development of the markets, enhancing market surveillance capabilities and improving the access of investors to SEBI. In this regard, the Board approved the opening of six more local offices at Ranchi, Raipur, Panaji, Shimla, Dehradun and Srinagar.
3. Simplification& rationalization of registration requirements for brokers:
Presently, to become a stock broker, it is required to get a separate certificate of registration from SEBI while operating in different segments of a stock exchange viz. equity, equity derivatives, currency derivatives and also for each category like trading member, trading
With a view to simplifying and rationalizing the registration requirement, the Board decided to amend the regulations for stock brokers so that there may be one certificate of registration per stock exchange for a stock broker. For operating in other segments and in aforesaid different categories he would take approval from the stock exchange, subject to compliance of all regulatory requirements. The stock exchange shall keep SEBI informed about such approvals in periodical reports.
With a view to simplifying and rationalizing the registration requirement, the Board decided to amend the regulations for stock brokers so that there may be one certificate of registration per stock exchange for a stock broker. For operating in other segments and in aforesaid different categories he would take approval from the stock exchange, subject to compliance of all regulatory requirements. The stock exchange shall keep SEBI informed about such approvals in periodical reports.
4. Amendment to SEBI (Mutual Fund) Regulations, 1996 regarding RGESS
The Board approved the proposal to amend the SEBI (Mutual Fund) Regulations, 1996 with respect to increase in initial offering period for RGESS eligible schemes from 15 days to 30 days. The timeline for refund of money and sending statement of account has been extended from five working days to 15 days from closure of initial subscription for RGESS eligible schemes.
The Board approved the proposal to amend the SEBI (Mutual Fund) Regulations, 1996 with respect to increase in initial offering period for RGESS eligible schemes from 15 days to 30 days. The timeline for refund of money and sending statement of account has been extended from five working days to 15 days from closure of initial subscription for RGESS eligible schemes.
This Article has been posted by Vinanti Zatakiya. She Can be reached at vinanti2504@gmail.com
Suggested Answers - November 2012 - Intermediate (Integrated Professional Competence) Course
Posted by Deepak Gupta
Posted on Saturday, March 09, 2013
with No comments
Top 20 CA Firms in Delhi for Articleship
Posted by Studycafe
Posted on Saturday, March 09, 2013
with 13 comments
Top 20 CA Firms for Articleship with address, Phone no, Email & Website.
1. PWC
Address: Building 10, Tower C, DFL Cyber City, Gurgaon, Haryana 122002
Phone: +91-124-3306 000; +91-124-3306 999
Email: Careers.India@In.Pwc.Com
1. PWC
Address: Building 10, Tower C, DFL Cyber City, Gurgaon, Haryana 122002
Phone: +91-124-3306 000; +91-124-3306 999
Email: Careers.India@In.Pwc.Com
2. Ernst & Young (E&Y)
Phone: 0124 464 4000
Address: Level 7, Tower B, Building 10, DLF Cyber City, DLF City, Phase II, Gurgaon 122 002.
Phone: +91-124-6792000
Website: https://careers.deloitte.com/jobs/eng-in
5. A F Fergusons (a member firm of the PwC network)
Address: 9, Scindia House, KG Marg, CP, New Delhi
40, Vasant Vihar, New Delhi
Phone: 011 2614 2817
Phone: +91-11-23315884
6. S S Kothari
Address: 146-148 New Delhi Trishunam Complex, Ishwar Nagar, Mathura Road, New Delhi-110068
Phone: +91-11-4670 8888
Email: Delhi@Sskmin.Com, Mis@Sskmin.Com
Website: http://www.sskmin.com/
7. S R Dinodia & Co.
Address: K-39, Connaught PlaceNew Delhi
Phone: +91-11-2341 8016
Email: Srdinodia@Srdinodia.Com
Website: http://www.srdinodia.com/careers
8. S C Vasudeva & Co
Address: B-41, Panchsheel Enclave, Opp. Holiday Club, New Delhi
Phone: +91-11-26499111 & 26499222 26499444 & 26499555
Email: info@scvasudeva.com
Website: www.scvasudeva.com
9. Thakur Vaidyanathan Aiyar & Co. (This firm is an independent member of PrimeGlobal,)
Address: 221-223, Deen dayal Upadhyay Marg, Daryaganj, Delhi 110002
Phone: +91-11-23236958/60
Website: http://www.primeglobal.net/company/thakur-vaidyanath-aiyar-co
10. Lodha & Co.
Address: Upasana, 1, Hailey Rd, Vakil Lane, Mandi House, Delhi 110001
Phone: +91-11- 4372 4462
Website: http://www.lodhaco.com/
11. Sahni, Natrajan, Bhel [SNB]
Address: 303, Mansarovar, 4th Floor, 90, Nehru Place, New Delhi
Phone: 011-26433003 / 04, 47347000
Email: snb@snbindia.com
Website: http://www.snbindia.com/career.html
12. Khanna & Anandhanam
Address: 706, Akashdeep, Barakhamba road, Connaught Place , New Delhi
Phone: 011 2331 5110
13. Aiyar & Aiyar
Address: 607, Akashdeep, Barakhamba Road, CP, New Delhi
Phone: 011 2331 6117
Website: http://ksaiyar.com/
14. Grant Thornton & Walker Chandiok & Co LLP.
Email: contact@in.gt.com
Website: http://www.grantthornton.in/en/careers/
15. Mohinder Puri & Co.
Address: 1A-1D, Vandana Building, 11, Toistoy Marg, CP, New Delhi.
Phone: 011-2335 1935
Email: Mpco@Vsnl.Com ; csm@mpco.in
Website: http://www.mpco.in/home.html
16. S P Chopra & Co.
Address: 31 F, Connaught Place, New Delhi
Phone: 011-23313495/6/7
Email: spc@bol.net.in
Website: http://spchopra.in/
17. Ray & Ray
Address: 205, 2nd floor, Ansal House, K.G Marg, Connaught Place, New Delhi
Phone: 011-23705416/17
Email: rayandraydelhi@vsnl.com
Website: http://www.raynray.net/
18. Deewan PN Chopra & Co
Address: H-57, First Floor, Outer Circle, Indra Chowk Road, Block H, Connaught Place, New Delhi, Delhi 110001
Phone: +91 -11 2332 2359
Website: http://dpncindia.com/
Address: 1st Floor, Tower A, Building no 8, DLF Cybercity Phase 2, Sector - 25. Gurgaon Haryana 122002
Phone: +91 124 457 5000
Address: Golf View Corporate Tower B, Sector Road, Sector 42, Gurgaon, HaryanaPhone: +91 124 457 5000
Email: Careers.ey@In.ey.Com
Address: U-80/ 80, Building 5, Tower C, Gali Number 3, U
Block, DLF Phase 3, Sector 24, Gurgaon, Haryana 122002
Phone: +91-124 -307 4000
4. Deloitte Haskin & Sells
Phone: +91-124 -307 4000
4. Deloitte Haskin & Sells
Address: Level 7, Tower B, Building 10, DLF Cyber City, DLF City, Phase II, Gurgaon 122 002.
Phone: +91-124-6792000
Website: https://careers.deloitte.com/jobs/eng-in
5. A F Fergusons (a member firm of the PwC network)
Address: 9, Scindia House, KG Marg, CP, New Delhi
40, Vasant Vihar, New Delhi
Phone: 011 2614 2817
Phone: +91-11-23315884
6. S S Kothari
Address: 146-148 New Delhi Trishunam Complex, Ishwar Nagar, Mathura Road, New Delhi-110068
Phone: +91-11-4670 8888
Email: Delhi@Sskmin.Com, Mis@Sskmin.Com
Website: http://www.sskmin.com/
7. S R Dinodia & Co.
Address: K-39, Connaught PlaceNew Delhi
Phone: +91-11-2341 8016
Email: Srdinodia@Srdinodia.Com
Website: http://www.srdinodia.com/careers
8. S C Vasudeva & Co
Address: B-41, Panchsheel Enclave, Opp. Holiday Club, New Delhi
Phone: +91-11-26499111 & 26499222 26499444 & 26499555
Email: info@scvasudeva.com
Website: www.scvasudeva.com
9. Thakur Vaidyanathan Aiyar & Co. (This firm is an independent member of PrimeGlobal,)
Address: 221-223, Deen dayal Upadhyay Marg, Daryaganj, Delhi 110002
Phone: +91-11-23236958/60
Website: http://www.primeglobal.net/company/thakur-vaidyanath-aiyar-co
10. Lodha & Co.
Address: Upasana, 1, Hailey Rd, Vakil Lane, Mandi House, Delhi 110001
Phone: +91-11- 4372 4462
Website: http://www.lodhaco.com/
11. Sahni, Natrajan, Bhel [SNB]
Address: 303, Mansarovar, 4th Floor, 90, Nehru Place, New Delhi
Phone: 011-26433003 / 04, 47347000
Email: snb@snbindia.com
Website: http://www.snbindia.com/career.html
12. Khanna & Anandhanam
Address: 706, Akashdeep, Barakhamba road, Connaught Place , New Delhi
Phone: 011 2331 5110
13. Aiyar & Aiyar
Address: 607, Akashdeep, Barakhamba Road, CP, New Delhi
Phone: 011 2331 6117
Website: http://ksaiyar.com/
14. Grant Thornton & Walker Chandiok & Co LLP.
Address: L-41, Connaught Circus, Connaught Place, New Delhi.
Phone: + 91 11 4278 7070Email: contact@in.gt.com
Website: http://www.grantthornton.in/en/careers/
15. Mohinder Puri & Co.
Address: 1A-1D, Vandana Building, 11, Toistoy Marg, CP, New Delhi.
Phone: 011-2335 1935
Email: Mpco@Vsnl.Com ; csm@mpco.in
Website: http://www.mpco.in/home.html
16. S P Chopra & Co.
Address: 31 F, Connaught Place, New Delhi
Phone: 011-23313495/6/7
Email: spc@bol.net.in
Website: http://spchopra.in/
17. Ray & Ray
Address: 205, 2nd floor, Ansal House, K.G Marg, Connaught Place, New Delhi
Phone: 011-23705416/17
Email: rayandraydelhi@vsnl.com
Website: http://www.raynray.net/
18. Deewan PN Chopra & Co
Address: H-57, First Floor, Outer Circle, Indra Chowk Road, Block H, Connaught Place, New Delhi, Delhi 110001
Phone: +91 -11 2332 2359
Website: http://dpncindia.com/
Address: Suit No- 12A, 13A, 17, 15A, Connaught Circus, New Delhi, Delhi 110001
Phone: +91-11 4325 9900
Website: http://www.trchadha.com/
20 Luthra & Luthra
Address: 103, Ashoka Estate, Barakhamba Road, New Delhi - 110 001
Phone: +91-11-4121 5100
Email: delhi@luthra.com
Website: http://www.luthra.com/
21 Desai Haribhakti & Co.
Address: 3rd Floor 52 B, Okhala Industrial Estate Phase 3 Rd, Okhla Phase III, Okhla Industrial Area, New Delhi, Delhi 110020
Phone: +91-11 4711 9999
Website: http://www.dhc.co.in/
Please note this list is used for information basis only.
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Top 20 CA Firms in Delhi for Articleship, CA Firms in Delhi, Top 20 CA Firms in
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