Software Technology Parks Of India

Description :
Engagement of Internal Auditor for STPI & its sub centres 

Software Technology Parks Of India

Address :The Additional Director, STPI-Bhubaneswar, Fortune Towers, C-Ground Zero, Fortune Towers, Bhubaneswar-23 

Last Date : 25/10/2012 

Municipal Corporation, Sikar

Description :
Supply of Construction Materials. Supply of Electric items. Providing of Chartered accountant service for chartered accountant work.  Repair of Road light 

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Municipal Corporation 

Address :Sikar - Rajasthan 

Last Date : 23/10/2012 

RBI Circular on Loan to NRE

FOREIGN EXCHANGE MANAGEMENT (DEPOSIT) REGULATIONS, 2000 - LOANS TO NON-RESIDENTS/THIRD PARTIES AGAINST SECURITY OF NON-RESIDENT (EXTERNAL) RUPEE ACCOUNTS [NR (E) RA]/FOREIGN CURRENCY NON-RESIDENT (BANK) ACCOUNTS [FCNR (B)] DEPOSITS

A. P. (DIR SERIES 2012-13) CIRCULAR NO. 44, DATED 12-10-2012

Attention of Authorised Dealer Category-I banks and Authorised banks (the banks) is invited to Para 6 of Schedule 1 and Para 9 of Schedule 2 toForeign Exchange Management (Deposit) Regulations, 2000 notified vide Notification No. FEMA 5/2000-RB, dated May 3, 2000, as amended from time to time regarding loans against security of funds held in deposit accounts. Further, attention of the banks is also invited to A. P. (DIR Series) Circular No.66, dated April 28, 2009 in terms of which it was decided to enhance the then existing cap of Rs. 20 lakh to Rs. 100 lakh on loans against security of funds held in NR(E)RA and FCNR(B) deposits either to the depositors or third parties.

2. The Committee to review the facilities for individuals under FEMA, 1999 (Chairperson: Smt. K.J. Udeshi) has recommended that the banks may sanction Rupee loans in India or foreign currency loans outside India to either the account holder or a third party to the extent of the balance in the NRE/FCNR (B) account subject to margin requirements. The existing position in this regard has been reviewed and it has been decided, in exercise of powers under paragraph 6(d) of Schedule-1 read with para 9(1) of Schedule-2 of the Foreign Exchange Management (Deposit) Regulations, 2000, that the banks may now grant loans against NR(E)RA and FCNR(B) deposits either to the depositors or the third parties as under:-

	Existing provision	Proposed provision
Rupee loans* in India
Loans against NRE/FCNR(B) Fixed Deposits	Rs. 100 lakhs ceiling applicable	Rupee loans to be allowed to depositor/third party without any ceiling subject to usual margin requirements**
Foreign Currency loan* in India/outside India
Loans against NRE/FCNR(B) Fixed Deposits	Rs. 100 lakhs ceiling applicable	Foreign Currency loans to be allowed to depositor/third party without any ceiling subject to usual margin requirements **

* The term 'loan' shall include all types of fund based/non-fund based facilities.

** In case of FCNR deposits, the margin requirement shall be notionally calculated on the rupee equivalent of the deposits in accordance with para 9(2) of Schedule-2 of Foreign Exchange Management (Deposit) Regulations, 2000.

Further, the facility of premature withdrawal of NRE/FCNR deposits shall not be available where loans against such deposits are to be availed of. This requirement may specifically be brought to the notice of the deposit holder at the time of sanction of the loan. The existing loans which are not in conformity with the above instructions shall continue for their existing term and shall not be rolled over/renewed. Other conditions as regards grant of loan against NRE/FCNR deposits shall remain unchanged.

3. The above instructions shall come into force with immediate effect. The banks may bring contents of this circular to the notice of their constituents and customers concerned.

4. The directions contained in this circular have been issued under sections 10(4) and 11 (1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions/approvals, if any, required under any other law.

CBDT crackdown on freebies to doctors by pharma industry

Any freebies given to doctors and their associations by the pharmaceutical companies by way of gift, travel facility, hospitality, cash grant and so on, is not allowable as expenditure, while computing the taxable business income of such companies, says a CBDT Circular. The Medical Council of India (MCI) had in 2009 prohibited medical practitioners and their associations from accepting these and other freebies from the pharmaceutical companies at the pain of being hauled up for violating professional ethics. The Explanation to Section 37(1) disallows expenses that are in violation to any law of the land. The regulations made by (MCI) a statutory body is the law of land governing the medical fraternity, and hence, any expenses incurred in violation thereof is squarely hit by the said Explanation, says the circular.

Source : http://www.thehindubusinessline.com/companies/article3991935.ece

Finance Minister approves the Operational Features of the Rajiv Gandhi Equity Savings Scheme (RGESS)

The Union Finance Minister Shri P. Chidambaram approved a new tax saving scheme called "Rajiv Gandhi Equity Saving Scheme"(RGESS),exclusively for the first time retail investors in Securities Market. This Scheme would give tax benefits to new investors who invest up to Rs. 50,000 and whose annual income is below Rs. 10 lakh. The Scheme not only encourages the flow of savings and improves the depth of domestic capital markets, but also aims to promote an 'equity culture' in India. This is also expected to widen the retail investor base in the Indian securities markets. Salient features of the Scheme are as under: a. Scheme is open to new retail investors, identified on the basis of their PAN numbers. This includes those who have opened the Demat Account but have not made any transaction in equity and /or in derivatives till the date of notification of this Scheme and all those account holders other than the first account holder who wish to open a fresh account. b. Those investors whose annual taxable income is ≤ Rs. 10 lakhs are eligible under the Scheme. c. The maximum Investment permissible under the Scheme is Rs. 50,000 and the investor would get a 50% deduction of the amount invested from the taxable income for that year. d. Under the Scheme, those stocks listed under the BSE 100 or CNX 100, or those of public sector undertakings which are Navratnas, Maharatnas and Miniratnas would be eligible. Follow-on Public Offers (FPOs) of the above companies would also be eligible under the Scheme. IPOs of PSUs, which are getting listed in the relevant financial year and whose annual turnover is not less than Rs. 4000 Crore for each of the immediate past three years, would also be eligible. e. In addition, considering the requests from various stakeholders, Exchange Traded Funds (ETFs) and Mutual Funds (MFs) that have RGESS eligible securities as their underlying and are listed and traded in the stock exchanges and settled through a depository mechanism have also been brought under RGESS. f. To benefit the small investors, the investments are allowed to be made in instalments in the year in which tax claims are made. g. The total lock-in period for investments under the Scheme would be three years including an initial blanket lock-in period of one year, commencing from the date of last purchase of securities under RGESS. h. After the first year, investors would be allowed to trade in the securities in furtherance of the goal of promoting an equity culture and as a provision to protect them from adverse market movements or stock specific risks as well as to give them avenues to realize profits. i. Investors would, however, be required to maintain their level of investment during these two years at the amount for which they have claimed income tax benefit or at the value of the portfolio before initiating a sale transaction, whichever is less, for at least 270 days in a year. The calculation of 270 days includes those days pursuant to the day on which the market value of the residual shares /units has automatically touched the stipulated value after the date of debit. j. The general principle under which trading is allowed is that whatever is the value of stocks / units sold by the investor from the RGESS portfolio, RGESS compliant securities of at least the same value are credited back into the account subsequently. However, the investor is allowed to take benefits of the appreciation of his RGESS portfolio, provided its value, as on the previous day of trading, remains above the investment for which they have claimed income tax benefit. k. For the purpose of valuation of shares, the closing price as on the previous day of the date of trading will be considered so that new investors are certain about their debits and credits into the account. l. In case the investor fails to meet the conditions stipulated, the tax benefit will be withdrawn. Like all financial products which have reached out substantially to the retail investors (post office savings, life insurance policies etc) through tax benefits, this tax break for direct investment in equity is expected to substantially encourage the retail participation in securities market as well as to enhance their participation in the growth of Indian industry. Entry of more retail investors are expected to further deepen the securities markets as they bring in long-term stable funds, which can counteract the volatility created by the liquidity providers of the market. The Scheme, thus, also furthers the goal of financial stability and promotes financial inclusion. Since Exchange Traded Funds and Mutual Funds have also been brought under the Scheme, the Scheme should provide encouragement and re-assurance to the first time investors. The broad provisions of the Scheme and the income tax benefits under it have already been incorporated as a new Section - 80CCG - of the Income Tax Act, 1961, as amended by the Finance Act, 2012. Department of Revenue will notify the Scheme and SEBI will issue the relevant circulars to operationalize the Scheme in the next two weeks. DSM/RS/Hb (Release ID :87893)

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Success is not permanent and failure is not final

 

Broadcast Engineering Consultants India Limited

Description :Empanelment of Chartered Accountants Firms for carrying out Internal Audit work of Broadcast Engineering Consultants India Limited (BECIL) from Financial Year 2012-13 onwards 

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Broadcast Engineering Consultants India Limited

 

Address :Chairman & Managing Director
Broadcast Engineering Consultants India Limited
BECIL Corporate office C-56/A17, Sector-62
Noida-201301 (UP) 

Last Date : 22/10/2012

Hindustan Aeronautics Limited

Description :Expression of interest for appointment of internal auditors 

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Hindustan Aeronautics Limited


Address :Hindustan Aeronautics Limited
Accessories Division, Faizabad Road, Lucknow-226016 

Last Date : 16/11/2012 

SOUTH EASTERN COALFIELDS LIMITED

Description:
Empanelment of Chartered Accountants/Cost Accountants Partnership Firms registered with the Institute of Chartered Accountants of India / Institute of Cost Accountants of India for conducting Internal Audit of Physical Verification of Stores & Spares in SECL for the year 2012-13. 

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SOUTH EASTERN COALFIELDS LIMITED

Address :SOUTH EASTERN COALFIELDS LIMITED Seepat Road, Bilaspur (CG)-495006 

Phone : 09425531262 

Last Date : 10/11/2012 

Central Coalfields Limited

Description:
Appointment of Auditors for Physical Verification of Central / Regional / Charged off stores of CCL as on 31-12-2012 & NL/PL Reconciliation of central stores barkakana as on 01-04-2012 

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Central Coalfields Limited

Address : Ranchi - Jharkhand

Last Date : 31/10/2012 

Bihar State Aids Control Society

Description:
Expression of Interest for Chartered Accountant Firms for Internal Audit for Implementing the Centrally Sponsored national Aids control programme (NACP) in the State of Biha 

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Bihar State Aids Control Society

Address :BIHAR STATE AIDS CONTROL SOCIETY State Institute of Health & Family Welfare Building, Sheikhpura, Patna-800014. 

Phone :0612-2290278 

E-Mail :bsacshelp@bsacs.org

Last Date : 29/10/2012 

State Health And Family Welfare Society Hyderabad

Description :
Hiring services of charted accountant firms for concurrent audit of state health society (SHS & 4 groups of district health socities 

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State Health And Family Welfare Society


Address :State Health And Family Welfare Society DM&HS Campus,Sultan Bazar,Hyderabad-500095 

Phone :040-24613005 

E-Mail :cfo.nrhm@gmail.com

Last Date : 26/10/2012 

Jammu And Kashmir State Agro Industries Development Corporation Limited

Description :
Detailed transaction audit, internal audit of different divisions of the corporation for year 2000 onwards 

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Jammu And Kashmir State Agro Industries Development Corporation Limited

Address :Srinagar - Jammu-kashmir 

Last Date : 20/10/2012 

Department Of Information And Public Relation Assam

Description :Invited from the Registered Charter Accountancy firm for submission of quarterly income tax return both salary and non-salary portion of the office of Director of Information and Public Relations  Clicke the link: Department Of Information And Public Relation Address :Department Of Information And Public Relations,Assam. Dispur,Guwahati-6  Last Date : 12/10/2012

Shome Committee Draft Report On Vodafone Retrospective Law

Shome Committee Draft Report On Vodafone Retrospective Law

The Shome Committee has issued a draft report making far-reaching suggestions on whether the retrospective law seeking to tax Vodafone should be retained or not. The report makes important recommendations on the steps that the Government should take to address apprehensions about the certainty, predictability and stability of tax laws in India. Comments and Suggestions on the Draft Report are required to be submitted by 19th October, 2012

Department Of Information And Public Relations

Description :Invited from the Registered Charter Accountancy firm for submission of quarterly income tax return both salary and non-salary portion of the office of Director of Information and Public Relations Click Link: Department Of Information And Public Relations  Address :Department Of Information And Public Relations,Assam. Dispur,Guwahati-6  Last Date : 12/10/2012

Municipal Council, Badmer -Rajasthan

Description :Providing of Chartered accountant service – double entry system accounting year 2009-10, 2010-11, 2011-12 & 2012-13. 
Preparation of Statement of Affairs for one year (as on balance sheet) 2010-11, 2011-12 & 2012-13 per annum. Bank reconciliation work (per annum) from 01.04.2006 to 31.03.2013 

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Municipal Council

Address : Municipal Council,Badmer -Rajasthan  Last Date : 17/10/2012

Department of Health Services Chhatisgarh

Request for proposal for hiring services of post procurement auditor...

Here is the link:

http://pdicai.org/docs/tend_department_health-_services_250902012.JPG

Last Date: 29 Oct 2012

Department of Forests, Government of Tripura

Inviting Tenders of auditing  the accounts of  Tripura Forests Environmental Improvement and Poverty Alleviation Society (TFIPAS).

Here is the link:

http://pdicai.org/docs/tend_forest_department_tripura060102012.pdf

Last Date: 19 Oct 2012

STATE HEALTH SOCIETY, BIHAR, PATNA

EXPRESSION OF INTEREST for Concurrent Audit 2012-13

HIRING SERVICES OF CHARTERED ACCOUNTANTS FIRM FOR CONCURRENT AUDIT OF 

STATE HEALTH SOCIETY, BIHAR (SHSB) & DISTRICT HEALTH SOCIETY (DHS) FOR THE 

FINANCIAL YEAR 2012-13 UNDER NATIONAL RURAL HEALTH MISSION (NRHM)

Request for Proposal (RFP) for Concurrent Auditor for the State of Bihar

Here is the link:

http://statehealthsocietybihar.org/shs/tenders/Concurrent_Audit.pdf

Last date: 18/10/2012

Uttarakhand Power Corporation Limited

Uttarakhand Power Corporation Limited

Description : Audit of receivables outstanding as on 31.03.2012 pertaining to distribution units of UPCL Last Date : 06/11/2012 Address :Uttarakhand Power Corporation Limited Urja Bhawan Kanwali Road,Dehradun-248001 Phone :0135-2763672