Volume 2 Issue No.16/2010 Lexspeak        July 2010
Thought for the day
If we both exchange one rupee, we both have one rupee each, but if we exchange one good thought, we both have two good thoughts.
News from the Govt

RBI

DGFT

MCA

Others
Articles

Job Crafting
Legal Term


Legal Term



Ad Litem


Meaning
for the suit


Origin



Latin


Usage
An individual appointed only for the purpose of prosecuting or defending a court action or litigation, on behalf of a vulnerable or otherwise undefended interest (such as a child or mentally-challenged person).

Statutory Compliance Chart


August 2010

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Reminders

05 Aug– ServiceTax Monthly
               Payments
 07 Aug– TDS/TCS Payment
 10 Aug– Excise Return
Monthly
 15 Aug– PF Monthly Payment
 20 Aug– PT Payment
 20 Aug– VAT Payment
 21 Aug– ESIC Payment
 25 Aug– PF Monthly Returns


Most imaginative fiction being written today is Income Tax Returns


Hello
All,
Different strokes result in different positions. Nay, positioning the strokes differently makes all the difference from being a finalist to a winner.

Yes, we are referring to the recently finalized Rupee Symbol designed by Mr. Udaya Kumar of IIT, the winner of the Rupee Symbol Design Contest of the Government of India. One of the talented 5 finalists of this contest was Mr. K.K. Shibin from Kerala whose Rupee symbol design is remarkably close to the winner’s as is depicted in the banner and elsewhere in an article in this issue of Lexspeak.

LV has a close association with Shibin. Our logo was designed by him when he worked in a Bangalore based firm 4 years ago. We are indeed proud of Shibin’s achievements and wish him all success in his journey of creativity while we continue our journey of exchanging thoughts and knowledge.

Do give us a feedback.

Click here to mail Your feedback for this issue.

Sincerely,
Lex Valorem Team


External Commercial Borrowings (ECB) Policy
-Takeout Finance

The Reserve Bank of India (RBI) has reviewed the External Commercial Borrowings (ECB) policy to facilitate infrastructure companies undertaking projects like construction of sea port & airport, roads including bridges and power stations to take-out financial arrangements through approval route for refinancing rupee loans borrowed from domestic banks.


Download Circulars


Export of Goods and
Services – Unrealised Export Bills – Write-off- Surrender of export incentives

The Reserve Bank of India (RBI) has instructed AD
Category Banks not to insist on demanding
proportionate export incentives other than the Duty
Drawback scheme if in case the exporter does not
recover export proceeds under any of the Export
Promotion Schemes under Foreign Trade Policy (FTP).


Download Circular


Declaration of Intent for claiming benefits of various schemes
The Directorate General of Foreign Trade (DGFT) has issued a policy circular to all exporters on claiming benefits under various export schemes as mentioned in Chapter
– 3 of FTP-2009-2014. The exporters have to mandatorily declare the Intent of the goods exported to claim the benefits under FTP. These benefits would be effective for goods exported on or after 1st January, 2011.


Download Circular


Execution of LUT/BG against Import Authorisation
The Directorate General of Foreign Trade (DGFT) has issued a circular for execution of LUT/BG for issue of Authorisation for import of restricted items so that goods are re-exported by the importers as declared by them at the time of application for Import Authorizations.


Download Circular


Revised E – Forms from MCA which will be effective from 1st August, 2010

New version of Form 1, Form 1AA, Form 4, Form 4C, Form 15, Form 20A, Form 20B, Form 22, Form 22B, Form 23, Form 23AA, Form 25C, Form 44, Form 49, Form 52, Form 61, Form DD-B, Form I- Cost Audit Report and Form 67 will be available on the MCA portal, effective 1st August, 2010.
….

Read More


Symbol for Rupee Approved

The rupee finally has a symbol like other major currencies viz., dollar, yen, pound and euro. The symbol was approved by the Government of India among 3000 entries received and evaluated through a democratic process of contest held at various levels. The distinction of designing the finally approved symbol goes to Mr. Uday Kumar. D, an IITian.

….

PIB Release

Out of the five designs selected, one was by Mr. Shibin K.K who has designed the logo of Lex Valorem. Check out Mr. Shibin’s design which is close to the approved rupee symbol.

Group photo of top five finalists                                      ….

Shibin’s Design



Proof of Address Card by India Post

India Post is issuing ‘Proof of Address Card’ for
those who often shift their houses and find it
difficult to produce any address proof of their
current address. Requisite application along with
fee of Rs.250/- and necessary documents need to be filed with the jurisdictional Post Office concerned, to obtain the
“Proof of Address Card”.
….

Download Application


Job Crafting

In today’s fast paced world, proper alignment and optimization of resources, especially one’s own time is extremely critical for success in personal as well as professional life. Mr. Muralidhara Kempasagara, IIMB alumni dwells upon strategies for achieving the same through an effective matrix on
‘Job Crafting’.
….

Download Article

Note: The contents
of this News Letter are only a summary and has not dealt with
any issue in detail. Any action taken or proposed to be taken
must be in consultation with professionals and not merely based
on the articles / news updates. Lex Valorem disclaims all
liability on action taken without professional advice
Lex Valorem India Pvt. Ltd.
#405, 7th Cross, IV Block, Koramangala, Bangalore –
560 034

sharadasc.com
Phone : +91 80 25534374 , +91
80 25536618 Email:

[email protected]