Held Rule 9(3) which provides that the purchaser shall pay a deposit of 25% of the amount of the sale price on the sale of immovable property also indicates that the said provision is mandatory in nature. As regards balance amount of purchase price, sub-rule (4) provides that the said amount shall be paid by… Read More »
GUIDELINES ON POINT OF SALES PERSON – NON-LIFE & HEALTH INSURERS – ADDITION OF PRODUCTS CIRCULAR NO.IRDA/INT/GDL/ORD/047/03/2016, DATED 11-3-2016 Your attention is drawn to the Guidelines on Point of Sales Person for Non-life and Health Insurers issued vide No.IRDA/lnf/GDL/ORD/183/10/2015 dated 26th October, 2015. Vide the above guidelines, the Authority has introduced the concept of Point… Read More »
REGULATIONS ON PAYMENT OF COMMISSION, REMUNERATION OR REWARD TO INSURANCE AGENTS AND INSURANCE INTERMEDIARIES CIRCULAR NO.IRDA/INT/ORD/COMM/049/03/2016 DATED 15-3-2016 Consequent upon promulgation of Insurance Laws (Amendment) Act, 2015, amendments to the provisions of the Insurance Act, 1938 and the Insurance Regulatory and Development Authority Act, 1999 were effected. The following sections of the Insurance Act, 1938… Read More »
Facts of the case The assessee a company is engaged in the business as a builder / developer of real estate. As stated by the assessee, it is also engaged in carrying out SRA Projects (Slum rehabilitation), wherein it has to provide for free of cost flats to hut dwellers. Property in question where the… Read More »
Implementation of RTI Act, 2005 to be strengthened DoPT invites views/suggestions by 31st March, 2016 A Committee of Experts consisting of Shri A.N. Tiwari, former Chief Information Commissioner and Dr. M.M. Ansari, former Information Commissioner of Central Information Commission was constituted to recommend, inter-alia, measures to further strengthen implementation of Section 4 of the RTI… Read More »
ESIC Hospitals The State-wise total number of Employees’ State Insurance (ESI) hospitals already set-up and 24 more are proposed to be setup in the country as per enlisted details. Total number of Insured Persons as on 31.03.2015 is 20344530. Data compilation as on 29.02.2016 has not been finalized. Medical needs of ESI beneficiaries are adequately… Read More »
Rules in respect of Fund Manager Regime under Section 9A of the Income-tax Act, 1961 Section 9A of the Income-tax Act, 1961 (the Act) provides for special taxation regime with effect from 01.04.2016 to facilitate location of fund managers of off shore funds in India. Under this regime, the fund management activity carried-out through an… Read More »