Directorate of Service Tax, by a circular (No.172/7/2013) clarified that all services relating to education are exempt from service tax. Such services include providing hostels, transportation, housekeeping, security services, canteen, etc to educational institutions. For example, if a school hires a bus from a transport operator in order to ferry students to and from school, the transport services provided by the transport operator to the school are exempt.Continue reading
Unlisted companies can opt for overseas listing Ministry of Finance has allowed unlisted companies which are incorporated In India to opt for listing abroad and to raise funds without the requirement of prior listing in India. The scheme is allowed for an initial period of two years on a pilot basis. The approval to […]Continue reading
Inflation Indexed Bonds Inflation Indexed Bonds are issued to hedge against Inflation. Inflation Indexed Bonds are issued in place of Capital Indexed Bonds issued during 1997, which provides inflation protection only to the principal amount ant not to interest payment. On the other hand Inflation Indexed Bonds provide inflation protection to both principal and interest […]Continue reading
Direct Benefit Transfer of LPG (DBTL) scheme, which is AADHAR linked LPG subsidy given disbursed through banks. Under the (DBTL) an LPG consumer will get his/her cylinder at full market price and the differential between subsidized price and full market price i.e. the subsidy will be transferred to his/her bank account. Under this scheme, all LPG consumers will start receiving their LPG cylinders at full market price and will get their subsidy directly in their bank accounts up to a capped limit(9 cylinders in a year)of LPG cylinder. All Aadhaar linked LPG consumers will get an advance of Rs 435 in their bank account as soon as they book their first subsidized cylinder.
How it benefits banks?
Disbursing subsidy directly through bank accounts will increase the credit amount of customers which will in turn result in a boost in deposit quantityContinue reading
Investment adviser means any person, who for consideration, is engaged in the business of providing investment advice to clients or other persons or group of persons.
By virtue of (INVESTMENT ADVISERS) REGULATIONS, 2013 SEBI has made registration compulsorily to act as investment advisor. It is a step towards Investor protection. It aims to prohibit unqualified and inexperienced persons/entities from providing investment advises , which results in loss to investors. Recently, SEBI has suspended several persons who have been acting as investment advisors without seeking registration under SEBI. By the newly implemented regulations SEBI, clarified qualifications required to get registered as investment advisors and exempted certain group of persons/entities from registration ..Continue reading
Reverse mortgage means a mortgage on which the borrower need not have to repay the loan amount (principal and interest) taken against a residential house property of a senior citizen. Reverse mortgage was introduced to address the financial needs of senior citizens owning residential house property. It enables them to receive a regular income on fixed installments like pension. The home ownerContinue reading
The following nine activities have been specified as declared service (which attracts service tax liability) (section 66E): renting of immovable property construction of a complex. temporary transfer or permitting the use or enjoyment of any intellectual property right development, design, programming, customization, adaptation, up gradation, enhancement, implementation of information technology software agreeing to the obligation […]Continue reading
Insurance Regulatory and Development Authority (IRDA) permits insurance companies to invest in Category I & Category II Alternative Investment Funds (AIF) related to infrastructure and SME sectors. By a Circular dated March 18, 2013, insurers are permitted to invest in Category I & II AIFs under the extant SEBI Regulations.
The permitted Funds in Category I are Infrastructure Fund, SME FundContinue reading
SPMCIL as a part of its initiatives toward Customer Orientation organized a one day workshop on Customer Satisfaction on 05.08.2013 at India Security Press (ISP) Nashik. The workshop was organized in backdrop of Customer Satisfaction Survey carried out by SPMCIL through M/s Genesis Management and Market Research Pvt. Ltd., (GMMR) Pune for its various Products […]Continue reading
The Loan and Project Agreements for World Bank (IDA) assistance of US$100 million for Low Income Housing Finance Project were signed between Government of India/National Housing Bank(NHB)and the World Bank here on 14th August, 2013. The Loan Agreement was signed by Shri Nilaya Mitash, Joint Secretary, Department of Economic Affairs, Ministry of Finance on behalf […]Continue reading