Model GST law released by Govt
REPORT OF SUB-COMMITTEE-II ON MODEL GST LAW
Daily Archives: December 4, 2015
Govt Amends FEMA Transfer or Issue of Any Foreign Security
RESERVE BANK OF INDIA (Foreign Exchange Department) (Central Office) NOTIFICATION Mumbai, the 2nd December, 2015 No. FEMA. 359/2015-RB Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Amendment) Regulations, 2015
Govt Amends FEMA Borrowing or Lending in Foreign Exchange regulations 2015
RESERVE BANK OF INDIA (Foreign Exchange Department) (Central Office) NOTIFICATION Mumbai, the 2nd December, 2015 No. FEMA. 358/2015-RB Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) (Amendment) Regulations, 2015
SEBI issued Consultation paper for debt offering through private placement on electronic book
Consultation paper Primary market debt offering through private placement on electronic book (Brief Extract from above consultation paper) It has been observed from the available data that the majority of the issuances in India take place through private placement route, which are subsequently listed on stock exchange. During financial year 2014-15, private placement accounted for… Read More »
Address for Service of notice / summons by Income tax Department
THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 2nd December, 2015 Income-tax G.S.R. 923(E).—In exercise of the powers conferred by section 282 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct… Read More »
Cash Payment Exceeding 20000 can be made if genuineness of transactions and payment and identity of the receiver are established
Held Tribunal has not disbelieved the transactions or the genuineness thereof. Nor has it disbelieved the fact of payments having been made. More important, the reasons furnished by the appellant for having made the cash payments, which we have already adverted to, have not been disbelieved. In our view, assuming these reasons to be correct,… Read More »
Bad debts need not be proved irrecoverable
As per Section 36(1)(vii) of the Act is concerned, it is a settled position in law that after 1st April, 1989, it is not necessary that the debt itself must be proved to be irrecoverable. The only requirement is that the amounts claimed as bad debts should be written off as irrecoverable in the account… Read More »