Veteran Film Actor Shri Manoj Kumar to be conferred Dadasaheb Phalke Award for the year 2015 Veteran Film Actor and Director Shri Manoj Kumar is to be conferred the 47th Dadasaheb Phalke Award for the year 2015. Award is conferred by the Government of India for outstanding contribution to the growth and development of Indian… Read More »
Clarifications on levy imposed on jewellery In this year’s Budget, a nominal excise duty of 1% [without input tax credit] and 12.5% [with input tax credit] has been imposed on articles of jewellery. Even for this nominal 1% excise duty, manufacturers are allowed to take credit of input services, which can be utilised for payment… Read More »
Government to Issue Third Tranche of Sovereign Gold Bonds The Government of India, in consultation with the Reserve Bank of India, has decided to issue third tranche of Sovereign Gold Bonds. Applications for the bond will be accepted from March 8, 2016 to March 14, 2016. The Bonds will be issued on March 29, 2016.… Read More »
Steps to control the prices of essential items The Government has taken a number of to improve the availability and to contain prices of essential food items. These include:- • National Consultation Meeting of the minister of states/UTs in-charge of Consumer Affairs and Food held on 7thJuly, 2015 at New Delhi resolved to take steps… Read More »
Schedule for the General Elections to the Legislative Assemblies of Assam, Kerala, Tamil Nadu, West Bengal and Puducherry The terms of the Legislative Assemblies of Assam, Kerala, Tamil Nadu, West Bengal and Puducherry are normally due to expire as follows: Tamil Nadu 22.05.2016 West Bengal 29.05.2016 Kerala 31.05.2016 Puducherry 02.06.2016 Assam 05.06.2016… Read More »
Finance Bill 2016 Equalisation Levy With the expansion of information and communication technology, the supply and procurement of digital goods and services have undergone exponential expansion everywhere, including India. The digital economy is growing at ten per cent per year, significantly faster than the global economy as a whole. Currently in the digital domain, business… Read More »
Finance Bill 2016 Change in rate of Securities Transaction tax in case where option is not exercised Section 98 of the Finance (No.2) Act, 2004 provides that the securities transaction tax on sale of an option in securities where option is not exercised is 0.017 per cent of the option premium. It is proposed to… Read More »
Finance Bill 2016 Rationalization of taxation of income by way of dividend Under the existing provisions of clause (34) of section 10 of the Act, dividend which suffer dividend distribution tax (DDT) under section 115-O is exempt in the hands of the shareholder. Under section 115-O dividends are taxed only at the rate of fifteen… Read More »
Indian Railways Dedicates two More New Trains in the Service of the Nation Indian Railways will work to the maximum extent possible to provide better rail transportion to the people of India : Suresh Prabhu The Indian Railways has been working effortlessly to connect every part of the country with rail network. In this direction,… Read More »
Conviction under POCSO Act The Protection of Children from Sexual Offences Act, 2012 came into force on 14.11.2012. It is only 3 years since the Act has been in force and even the data for the year 2015 is under collection, therefore a review of the Act is not planned at this stage. However, Section… Read More »