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With immediate effect ECB (External Commercial Borrowings) scheme is modified to permit NMIZ developers to avail ECB under approval route available for infrastructure development. |
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Transfer of assets of Liaison Offices (LO) / Branch Offices (BO) to subsidiaries or other LO / BO or any other entity is permitted only with a specific approval of the Central Office of the Foreign Exchange Department of RBI. |
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LRS has been modified to include minors provided the relevant form is countersigned by their guardians. RBI has also clarified that objects of art can be purchased by resident individuals under the said scheme. |
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Companies / LLPs who have one of their objects as “carrying on a Business of Banking, Insurance or profession of Chartered Accountancy, Cost Accountancy, Company Secretary or Architecture” shall be incorporated only on production of in-principle approval /NOC from the concerned regulators / professional institute. |
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Exports proceeds against specific exports to Iran realized in Indian rupees are permitted to avail exports benefits / incentives under Foreign Trade Policy. |
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Online issue of Form E-I ,E-II, Form H and Form F under the CST Act has been enabled by the Commercial Tax Department of Karnataka with effect from 1st March 2012 . |
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This issue of EW explains the importance of “Chart of Accounts” with some practical examples. We thank our associate Ms. Ketoki Basu, Founder, FinEx Solutions for her contribution. |
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