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Power of AO to Grant Stay — Whether Discretionary or Controlled By the Instructions and Circulars
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Capital Gains Tax Implications in Singapore on Capital Reduction or Liquidation
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Legal Considerations for Start-Ups – Are you overlooking some?
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December 2013

A. P. (DIR Series) Circular No. 68 dated 1st November, 2013 Notification No. FEMA.292/2013- RB dated 4th October, 2013, Press Note No. 2 (2013 Series) dated June 3, 2013 – DIPP Foreign Direct Investment (FDI) in India – definition of ‘group company’

By Gaurang Gandhi, Chartered Accountant

Reading Time 1 mins

This circular has modified Notification No. FEMA. 20/2000-RB dated 3rd May 2000, by including the definition of the term ‘group company’ as follows: –

‘Group company’ means two or more enterprises which, directly or indirectly, are in position to:

(i) exercise 26%, or more, of voting rights in other enterprise; or

(ii) appoint more than 50% of members of board of directors in the other enterprise.

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December 2013

A. P. (DIR Series) Circular No. 68 dated 1st November, 2013 Notification No. FEMA.292/2013- RB dated 4th October, 2013, Press Note No. 2 (2013 Series) dated June 3, 2013 – DIPP Foreign Direct Investment (FDI) in India – definition of ‘group company’

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December 2013

A. P. (DIR Series) Circular No. 68 dated 1st November, 2013 Notification No. FEMA.292/2013- RB dated 4th October, 2013, Press Note No. 2 (2013 Series) dated June 3, 2013 – DIPP Foreign Direct Investment (FDI) in India – definition of ‘group company’

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A. P. (DIR Series) Circular No. 63 dated 18th October, 2013 Memorandum of Procedure for channeling transactions through Asian Clearing Union (ACU)

(2013) 90 DTR 350 (Mum) ACIT vs. Jaimal K. Shah A.Y.: 2007-08 Dated: 30-05-2012