MSP for Copra for 2016 season The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval for the Minimum Support Prices (MSPs) for Copra for 2016 season. The decision is based on recommendations of Commission for Agricultural Costs and Prices (CACP). CACP, which is an expert body,… Read More »
Held The concept of receiving gift from wife is acceptable. However, onus is upon the assessee, to establish the identity of the person and also the creditworthiness of the person giving the gift. The first aspect of the issue is that the gift received by any person should be irrevocable. However, in the case of… Read More »
Held The Tribunal found that the revenue did not dispute the fact the Assessing Officer had allowed spread over of expenditure in earlier two years. In our view since the project was abandoned in the assessment year 1995-96 and the entire expenses was written off during the said assessment year, the issue stands covered by… Read More »
In paragraph 14 of the Sixth Bi-monthly Monetary Policy Statement for 2015-16 released today, the Governor highlighted the steps being taken by the Reserve Bank of India, in keeping with the Government’s initiatives to promote the ease of doing business and contribute to an eco-system conducive for growth of entrepreneurship, particularly in respect of the… Read More »
Government sets-up Tax Policy Research Unit and Tax Policy Council to bring consistency, multidisciplinary inputs, and coherence in Tax Policy The Tax Administration Reform Commission (TARC) have in their First Report, identified handling of tax policy and related legislation as one of the areas which needs structural modifications. Observing that currently, this is handled… Read More »
Circular No.-1014/2/2016-CX Dated the 1st February, 2016 F. No. 6/14/2014-CX.I (Pt.) Government of India Ministry of Finance Department of Revenue Central Board of Excise & Custom *********** New Delhi, dated the 1st February, 2016 To Principal Chief Commissioner/ Chief Commissioner / Principal Commissioner of Central Excise and Customs (All) Web-master,CBEC Madam/Sir, Subject: Inclusion of show… Read More »
Source Reserve Bank of India Date : Feb 02, 2016 Sixth Bi-monthly Monetary Policy Statement, 2015-16 By Dr. Raghuram G. Rajan, Governor Monetary and Liquidity Measures On the basis of an assessment of the current and evolving macroeconomic situation, it has been decided to: keep the policy repo rate under the liquidity adjustment facility (LAF)… Read More »
1.15 Crore Subscribers for National Pension System (NPS) as on 23.1.2016 National Pension System (NPS) had 11,459,555 subscribers with a total corpus of Rs. 90, 327 crore as on 23rd January, 2016. The total Assets under Management are worth Rs. 109,140 crore while Assets under Management per subscriber is Rs. 95,000 on an average. The… Read More »
What is Jeevan Pramaan? Jeevan Pramaan is computer generated digital life certificate for pensioner. Jeevan Pramaan Certificate is produced for individual pensioner using his Biometric Credentials. How is this different from traditional Life Certificate issued by Govt Officers/ Agencies? For this certificate individual pensioner has not to present himself/ herself in front of seniors authorised… Read More »
Jeevan Pramaan- A Hit With Pensioners Jeevan Pramaan (https://jeevanpramaan.gov.in/) provides a big relief to all pensioners. A pensioner can now digitally provide Annual Life Certificate to the authorities for continuity of pension instead of presenting himself physically or through a Life Certificate issued by specified authorities every year. Lakhs of pensioners on various schemes are… Read More »