Amendments to the Maternity Benefit Act, 1961 The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its ex-post facto approval for amendments to the Maternity Benefit Act, 1961 by introducing the Maternity Benefit (Amendment) Bill, 2016 in Parliament. The maternity benefit Act 1961 protects the employment of women during the time… Read More »
Is GST Setting BJP Up? As the government hails the goods and services tax (GST) as a new miracle cure for black money , tax ter ror, a segmented domestic market and, of course, revenue shortage, its leaders would do well to hark back to Canada in 1993. In that year’s elections, the ruling Progressive… Read More »
There will be anomaly with petroleum out of GST: Hasmukh Adhia Petroleum being out of the goods and services tax (GST) initially will create some anomaly as tax credit on some of the inputs to oil industry may not be given, said Revenue Secretary Hasmukh Adhia in an e-mailed interview. He tells Dilasha Seth that the Central Board of… Read More »
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 9th August, 2016 S.O. 2670(E).—In exercise of the powers conferred by sub-section (1B) of section 139 of the Income tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendment in the notification of… Read More »
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 9th August, 2016 INCOME-TAX S.O. 2671(E).— In exercise of the powers conferred by section 295 read with clause (aa) of subsection (1) of section 12A of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby… Read More »
New forward looking Guidelines issued by Department of Expenditure, Ministry of Finance to improve the efficiency with which Public Funded Schemes and Projects are appraised and approved; In order to bring-in the concept of outcome evaluation to improve the delivery of public goods and services to the citizens. In order to build a growth friendly… Read More »
Congress party leader Veerappa Moily said the party’s eight state governments would try to ratify the Constitutional amendment to enable a national goods and services tax (GST) as soon as possible. “Our governments will not be an obstacle. It is a win-win situation for all states,” he said. The Lok Sabha on Monday cleared the amendment as passed… Read More »
Delhi may be among first few states to ratify GST bill The AAP government is all set to place the GST Bill for ratification before the Delhi Assembly during its four-day session beginning August 22 as the Centre aims to get the legislation cleared by at least half of the 29 states to roll out the new… Read More »
Prime Minister Narendra Modi on Monday tried to sell the goods and services tax (GST) as one that would help small businesses, spare the poor, generate additional jobs and help in regional development. Parliament cleared the Constitution (122nd Amendment) Bill, shifting the focus to states. The government had moved six amendments, including scrapping of 1… Read More »
Source : RBI Know Your Customer Guidelines (updated up to December 22, 2014) (This is a summarised and simplified version of the Reserve Bank of India’s Know Your Customer guidelines. For further details, please refer to the links which are provided below.) Q 1. What is KYC? Why is it required? Response: KYC means “Know… Read More »