Facts of the case The Assessing Officer had noted that the assessee had received an amount of Rs. 70,75,843/- from State Bank of Mysore as interest on fixed deposits but that the said amount was not declared in the return of income as ‘income from other sources’. It was also noted by the Assessing Officer… Read More »
Seeks to appoint 1th day of April, 2016 as the date with effect from which the provisions of Section 109(1) as contained in the Finance Act, 2015 shall come into effect. [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF… Read More »
Seeks to amend Notification No. 25/2012 by inserting new entry for granting exemption from service tax for the services provided by Government or a local authority to a business entity having turnover upto rupees of ten lakh in the preceding financial year [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3,… Read More »
Issue whether the assessee in order to avail benefit of Section 54F of the Act is required to utilize the amount for the purchase of the new asset from the sale proceeds of the original capital asset only. ? Held Section 54F of the Act nowhere envisages that the sale consideration obtained by the assessee… Read More »
Guidelines on Product Filing Procedures for General Insurance Products The guidelines on product filing procedures for general insurance products are issued considering the actual experience gained on the guidelines and circulars on file and use requirements for general insurance products in force, evolving needs of consumers and flexibility required for general insurers to respond to… Read More »
CONDITIONS AND MANNER OF PROVIDING EXIT OPPORTUNITY TO DISSENTING SHAREHOLDERS THE GAZETTE OF INDIA EXTRAORDINARY PART – III – SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, February 17, 2016 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 17th February, 2016 SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) (SECOND… Read More »
THE GAZETTE OF INDIA EXTRAORDINARY PART – III – SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, February 17, 2016 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 17th February, 2016 SECURITIES AND EXCHANGE BOARD OF INDIA (SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS) (AMENDMENT) REGULATIONS, 2016 No. SEBI/LAD-NRO/GN/2015-16/035.─ In exercise of the powers conferred under… Read More »
Undertaking of Point of Presence (PoP) Services under Pension Fund Regulatory and Development Authority for National Pension System (NPS) RBI/2015-16/324 DNBR (PD) CC.No. 073/03.10.001/2015-16 February 18, 2016 All Non-Banking Financial Companies Madam/ Sir, Undertaking of Point of Presence (PoP) Services under Pension Fund Regulatory and Development Authority for National Pension System (NPS) The Reserve Bank of India… Read More »
Inclusion in the Second Schedule to the Reserve Bank of India Act, 1934 – “ Vasai Vikas Sahakari Bank Ltd, Vasai Thane ” Source : Reserve Bank of India RBI/2015-16/325 DCBR CO. BPD.BC. No.10/16.05.000/2015-16 Magha 29, 1937 February 18, 2016 All Banks Dear Sir/Madam Inclusion in the Second Schedule to the Reserve Bank of India… Read More »
Source : Reserve Bank of India RBI/2015-16/326 DNBR.CC.PD.No.074/03.10.01/2015-16 February 18, 2016 To All Non-Banking Financial Companies (NBFCs) – Factors. NBFC – Factors (Reserve Bank) Directions, 2012 – Review The Reserve Bank of India had reviewed the guidelines on provision of factoring services by banks and specified certain conditions under which banks can departmentally undertake factoring… Read More »