Essentially it refers to something or a difference that is so little, small, minuscule or tiny that the law does not refer to it and will not consider it. In a million dollar deal, a $10 mistake is de minimis.
Statutory Compliance Chart
Reminders 05 Oct – ServiceTax Payment– Monthly 05 Oct – ServiceTax Payment
07 Oct – TDS/TCS Payment
10 Oct – Excise Return
15 Oct – PF Monthly Payment
15 Oct – TDS/TCS Return
15 Oct – Income Tax Return
20 Oct – PT Payment t
20 Oct – VAT Payment 21 Oct – ESIC Payment
25 Oct – PF Return
25 Oct – Service Tax Return
– Half yearly ROC filing by companies Annual Accounts
– 30days from AGM
– 60days from AGM
Today, it takes more brains and effort to make out the income-tax form than it does to make the income.
‘Navaratri-Dussehra’ is a ‘9 nights-10 days’
package of festivity and celebration across India in
various forms – durga pooja, display of dolls and dandiya. The 10 day festival is believed to culminate in the killing of the demon Ravana by Lord Rama which essentially stands for ‘victory of good over evil, right over wrong’. Sthree-shakti (woman-power) is upheld through the worship of the Goddess who personifies knowledge, valour and victory.
We do hope the various news updates & information knick-knacks packaged for you are useful. Highlight of this issue is the consolidated circular on FDI effective from 1st October, 2010.
LV Team wishes all its readers Happy Navaratri and Dussehra
Consolidated FDI Policy by DIPP
The Ministry of Commerce and Industry has released a consolidated circular on Foreign Direct Investment (FDI) replacing earlier circular. The present consolidated circular is effective from 1st October, 2010. Along with the circular there is also a press release which is a consolidation of issues addressed/clarified in the said circular.
Customs Circular corresponding to Foreign Trade Policy (FTP), 2009-14
The Annual Supplement to the Foreign Trade Policy (FTP), 2009-2014 and the Handbook of Procedures (Vol.I) have been notified by the DGFT vide notification No. 1(RE-2010)
/ 2009-2014 dated 23rd August 2010 and Public Notice 1(RE-2010)/2009-14 dated 23rd August 2010 respectively. Accordingly customs has issued a circular to give effect to the changes in the FTP.
Exemption of Customs Duty on certain goods imported from Nepal
Customs, vide its Notification No.104/2010 dt.1st October, 2010, has exempted certain goods, which are imported from Nepal, from whole of the customs duty subject to the conditions, if any.
Furnishing remitter details in pass book
/ pass sheet / account statement for credits received by customers through NEFT
/ NECS / ECS
….A very generic mention as ‘NEFT’ or ‘NECS’ does not help customers in identifying the source of credits. Therefore RBI has directed the banks to furnish remitter details in pass book/pass sheet/account statement for credits received by customers through NEFT/NECS/ECS.
Discontinuance of services relating to Official Search Report under the Trade Marks Rules, 2002
Government of India had issued a draft notification in the Gazette dt.7th September, 2010 which, on finalization, will discontinue the services relating to Official Search Report under the Trade Marks Rules, 2002. Once the notification is effective, the public can freely access the trademark database for search which will bring greater transparency.
FAQs relating to Work Related Visas, Conference Visas & Tourist Visas
After receiving several queries on Work Related Visas, Conference Visas and Tourist Visas, Ministry of Home Affairs has released FAQs on these, which consists of frequently asked questions w.r.t. some issues and reply to the same.
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