CIRCULAR No. 196/06/2016-ST F.No. 137/15/2015-Service Tax Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs (Service Tax Wing) **** New Delhi, Dated: 27th July, 2016. To All Principal Chief Commissioners of Central Excise and Service Tax/ Customs All Chief Commissioners, Central Excise and Service Tax / Customs. Principal Directors General… Read More »
Clarification regarding attaining prescribed age of 60 years/80 years on 31st March itself, in case of Senior/Very Senior Citizens whose date of birth falls on 1st April, for purposes of Income-tax Act, 1961 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Circular No. 28/2016-Income Tax North Block, New Delhi… Read More »
7th Pay commission-key points Analysis Withholding of Annual Increments As per Para 5.1.46 of the report of 7th Pay commission accepted by Government: Withholding of annual increments in the case of those employees who are not able to meet the benchmark either for MACP or a regular promotion within the first 20 years of their service.… Read More »
Trial of Talgo Train The trials with Talgo Coaches started with effect from 24.05.2016. The trials on main line track have been completed. The trials on Rajdhani track are under progress. The main features of Talgo Coaches are:- (i) Natural tilting leading to higher speed on curves. (ii) Independent Axle-less wheels. (iii) Lightweight Aluminium body… Read More »
Impact of Ban on 2000 CC Diesel Cars The interim ban on sale of new Diesel Cars of 2000 cc and above in the National Capital Region (NCR) has been directed by the Hon’ble Supreme Court of India on 16th December 2015. Department of Heavy Industry, Government of India has submitted an affidavit to Hon’ble… Read More »
Cabinet approves setting up of new AIIMS in Bhatinda The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the establishment of a new AIIMS at Bhatinda in Punjab under the Pradhan Mantri Swasthya Suraksha Yojana (PMSSY). The institution shall have a hospital with capacity of 750 beds which will include Emergency/Trauma… Read More »
Cabinet approves Policy for award of Waterfront and associated land to port dependent industries in major ports The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the Policy for award of waterfront and associated land to port dependent industries in major ports and its operationalization. The Policy will result in uniformity… Read More »
Cabinet approves abolition of Separate Guidelines for establishing Joint Venture Companies by Defence PSUs The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved abolition of existing “Guidelines for establishing Joint Venture Companies by Defence Public Sector Undertakings (DPSUs)”. These guidelines which were notified in February, 2012 will not be required for… Read More »
Cabinet increases the limit for foreign investment in Stock Exchanges from 5% to 15% The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for raising foreign shareholding limit from 5% to 15% in Indian Stock Exchanges for a stock exchange, a depository, a banking company, an insurance company, a… Read More »
The Reserve Bank of India has imposed monetary penalty on the following banks for violation of regulatory directions / instructions / guidelines, among other things, on KYC norms. The details of the penalty are: S. No. Name of the bank Penalty Amount (in ₹ million) 1. Allahabad Bank 20 2. Bank of India 10 3.… Read More »