Monthly Archives: February 2016

RBI Revised limit for reporting of Fraud by NBFCs to CFMC

By | February 19, 2016
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Source : Reserve Bank of India RBI/2015-16/327 DNBR (PD) CC.No.075/03.10.001/2015-16 February 18, 2016 All Deposit taking NBFCs (including RNBCs) and NBFCs- ND-SI Madam/ Sir, Frauds – Future approach towards monitoring of frauds in NBFCs Please refer to circulars DNBS.PD.CC.No.127/ 03.10.42/2008-09 dated August 14, 2008, DNBS.PD.CC.No.256/03.10.042/2011-12 dated March 02, 2012 andDNBS.PD.CC.No.314/03.10.042/2012-13 dated December 13, 2012 on… Read More »

E-flow of all important rivers of the country

By | February 19, 2016
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Uma Bharti asks her Ministry Officials to Work in Mission Mode for Successful Completion of Various Schemes Union Minister for Water Resources, River Development and Ganga Rejuvenation Sushri Uma Bharti has asked her Ministry officials to work in mission mode for successful completion of various schemes. Chairing a high level meeting held in New Delhi… Read More »

Govt Clarifications on implementation FATCA and CRS

By | February 19, 2016
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Clarification for implementation of FATCA and CRS An Inter-Governmental Agreement between India and USA was signed for implementation of Foreign Account Tax Compliance Act (FATCA). The Government of India has also joined the Multilateral Competent Authority Agreement (MCAA) for Automatic Exchange of Information as per Common Reporting Standard (CRS). To provide guidance for implementation of… Read More »

Govt Notifed what is startup enterprises

By | February 19, 2016
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Startup enterprises Read Startup Entity redefined by Govt – Notification THE GAZETTE OF INDIA EXTRAORDINARY [PART II—SEC. 3(i)] MINISTRY OF COMMERCE AND INDUSTRY (Department of Industrial Policy and Promotion) NOTIFICATION New Delhi, the 17th February, 2016 G.S.R. 180(E).—The Government of India has announced ‘ Startup India ’ initiative for creating a conducive environment for startups in… Read More »

PM unveils operational guidelines for Pradhan Mantri Fasal Bima Yojana

By | February 19, 2016
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PM unveils operational guidelines for Pradhan Mantri Fasal Bima Yojana; addresses massive farmers’ rally in Sehore Digital Platform for National Agriculture Market to be launched on Babasaheb Ambedkar’s birth anniversary on April 14th The Prime Minister, Shri Narendra Modi, today unveiled the operational guidelines for the Pradhan Mantri Fasal Bima Yojana at a massive farmers’… Read More »

Andhra University to start the IIPE sessions

By | February 19, 2016
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Signing of MoU Between IIPE and Andhra University Ministry of Petroleum and Natural Gas (MoPNG), Government of India has established Indian Institute of Petroleum and Energy (IIPE), Visakhapatnam, as noted in the Andhra Pradesh Reorganisation Act (2014), with the mandate to lead the nation forward in education, research and training related to all areas of… Read More »

The national flag will be flown at every university

By | February 19, 2016
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Resolutions Unanimously Passed at the Conference of Central University Vice-Chancellors The Union Minister of Human Resource Development Smt Smriti Zubin Irani chaired the conference of Central University Vice Chancellors at Surajkund (Faridabad) today. Following resolutions were passed unanimously at the Conference: 1. In order to optimize academic output of the student community, universities to institutionalize… Read More »

Reopening of the assessment should indicate which material fact was not disclosed by the Assessee

By | February 18, 2016
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Issue The assessee company has earned a dividend of Rs. 1,85,30,220/- which has been treated as exempt u/s 10(34) of the Act. However, no disallowance of expenditure have been made u/s 14A neither has assessee produced any details to show that no expenditure was incurred on earning of this exempt income. Held It was insisted… Read More »