White Label ATMs The Reserve Bank of India (RBI) has issued guidelines regarding setting up of White Label ATMs by non-bank entities. Non-bank entities that intend setting up, owning and operating ATMs, are christened “White Label ATM Operators” (WLAO) and such ATMs are called “While Label ATMs” (WLAs). Three different schemes are available to WLAOs… Read More »
Action Against Tax Evaders Appropriate action under relevant laws against tax evaders is an on-going process. Such action under direct tax laws includes searches, surveys, enquiries, assessment of income, levy of tax, interest, penalties, etc and filing of prosecution complaints in criminal courts, wherever applicable. The tax, interest and penalties, forming part of the total… Read More »
Custom Duty on Life Saving Drugs Representations have been received from domestic industry stating, inter alia that the exemption/concessional customs duties on drugs including life saving drugs deters domestic manufacture of these life saving drugs.Accordingly, in consultation with the stakeholders including Ministry of Health and Family Welfare and the Department of Pharmaceuticals, exemption/concessional customs duties… Read More »
OROP Scheme Detailed instructions along with OROP tables on implementation of OROP have been issued on 3.2.2016. Considering the requirement for implementation of “One Rank One Pension”, the expenditure ceiling for Defence Pensions in BE 2016-2017 has been increased from Rs.69,876 crores to Rs.82,332.66 crores. Government has received representations from various Ex-Servicemen Associations and beneficiaries… Read More »
SECTION 143 OF THE INCOME-TAX ACT, 1961 – ASSESSMENT PROCEDURE FOR RESPONSE TO ARREAR DEMAND BY TAXPAYER AND VERIFICATION AND CORRECTION OF DEMAND BY AOs CIRCULAR NO.8/2015 [F.NO.225/151/2014/ITA.II], DATED 14-5-2015 The CBDT vide instruction No.4 of 2014, dated 7th April, 2014, inter alia, prescribed Standard Operating Procedure for Verification and Correction of Demand available or… Read More »
ITBA-PAN INSTRUCTION NO.3 [F.NO.PDGIT(S)/ADG(S)-1/ITBA-PAN INSTRUCTIONS/0001/2016], DATED 24-2-2016 As per current process, PAN holder who wants to update core field and address details of the PAN allotted to him/her can file request for update through service providers (NSDL/UTIITSL). Details received from SPs in this regard in text file format are now uploaded in the system automatically… Read More »
Economic Survey 2015-16 Volume I Volume II Statistical Appendix Economic Survey – Volume-I(All Chapters) Economic Survey – Volume-II(All Chapters)
MUDRA Scheme Loans are extended under the Pradhan Mantri Mudra Yojana (PMMY), Scheme by banks and Micro Finance Institutions (MFIs) in three categories: Shishu (loans upto Rs. 50,000); Kishore (loans from Rs. 50002 to Rs. 5 lakh); Tarun (loans from Rs.5 lakh to Rs. 10 lakh) Till 12th February, 2016, the loans extended are as… Read More »
Policy for Adequate Autonomy to Companies In its endeavour to ease the process for FDI applications, Government launched a new secured FIPB website namely http://fipb.gov.in in 2015. Website offers increased portfolio services to applicants in an efficient manner and also allows more transparent way of business to keep applicant informed on the current status of… Read More »
Cases reported under Indecent Representation of Women (Prohibition) Act, 1986 As per the National Crime Records Bureau (NCRB) data which is available upto 2014, a total of 895, 453, 141, 362 and 47 cases were reported in the country under Indecent Representation of Women (Prohibition) Act, 1986 during last five year i.e 2010, 2011,2012, 2013… Read More »