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Effective form 25th November, 2011, Banks are free to determine the interest rates on SB account subject to certain conditions. |
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The all in-cost-ceiling limit for External Commercial Borrowings (ECBs) with 3 years to 5 years maturity period has been raised from existing 300bps to 350bps over LIBOR. The all in cost ceiling will remain same at 500bps over LIBOR for the ECBs with the maturity period of more than 5 years. |
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Effective form 23rd November, 2011 ECB raised abroad for Rupee expenditure in India must be remitted to India and held in Rupee account pending utilisation. However ECB raised for foreign currency expenditure can be retained abroad pending utilization. |
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The assessee who is not in a position to make self assessment or the proper officer who is not able to verify self assessment made or make re-assessment can go for Provisional Assessment as per the provisions of this regulation subject to certain conditions. This provision will be effective from the date of its publication in gazette. |
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An importer / exporter can generate a Bill of Entry / Shipping Bill number by entering the electronic declaration in the Indian Customs Electronic Data Interchange through ICEGATE or by way of data entry through the service centre by furnishing certain particulars. Specific regulations in this regard will be effective from the date of gazette notification. |
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The Union cabinet has approved Companies Bill, 2011 which will be tabled before ongoing winter session for consideration and passage. |
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Due date for filing Balance Sheet & Profit and Loss Account in XBRL mode has been extended. Now filing can be done before 31st December, 2011 or within 60 days of due date for filing, whichever is later. |
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The power of ideas must translate into power of action. An entrepreneur needs to make the right choice at every step. As Zig Ziglar says “Every choice you make has an end result”. It begins with what kind of legal form of business you choose to undertake the entrepreneurial activity. |
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