Monthly Archives: October 2016

Abbreviations commonly used in Customs, Central Excise and Service Tax

By | October 22, 2016

Abbreviations commonly used in Customs, Central Excise and Service Tax INDEX A B C D E F G H I J L M N O P R S T U V W A AAI :- Airport Authority of India AAR :- Authority for Advance Ruling AC/DC  :-Assistant Commissioner/Deputy Commissioner ACAO  :-Assistant Chief Account Officer ACES… Read More »

Hazardous Materials Labeling and Packaging & Transport

By | October 22, 2016

Labeling and Packaging of Hazardous Materials Abbreviations & Glossary CAS: Chemical Abstract Service [CAS numbers are used to provide a unique, unmistakable identifier for chemical substances and provide an unambiguous way to identify a chemical substance A CAS No. is separated by hyphens into three parts-the first consisting from two to seven digits, the second… Read More »

USA- Retirement Plans Can Make Loans, Hardship Distributions to Hurricane Matthew victims

By | October 22, 2016

Retirement Plans Can Make Loans, Hardship Distributions to Victims of Hurricane Matthew WASHINGTON —The Internal Revenue Service today announced that 401(k)s and similar employer-sponsored retirement plans can make loans and hardship distributions to victims of Hurricane Matthew and members of their families. This is similar to relief provided this summer to Louisiana flood victims. Participants… Read More »

Handbook on the Right to Information Act

By | October 21, 2016

Handbook on the Right to Information Act   Handbook on Right to Information Act is a complete and comprehensive commentary which explicates all aspects of the Act in a reader-friendly manner. Key features: • Updated with latest legislative amendments including those passed by different states. • Compendium of recent and landmark judgments pronounced by the… Read More »

Capital Asset defination under Income Tax Act (India) -section 2(14)

By | October 21, 2016

Capital Asset under Income Tax Act –  Section 2(14) Definition of capital asset in section 2(14) of the Act “capital asset” means— (a) property of any kind held by an assessee, whether or not connected with his business or profession; (b) any securities held by a Foreign Institutional Investor which has invested in such securities… Read More »

Compulsory Acquisition Taxability

By | October 21, 2016

Compulsory Acquisition Taxability What is Compulsory acquisition Compulsory acquisition is the power of government to acquire private rights in land without the willing consent of its owner or occupant in order to benefit society. Compensation against such acquisition is provided to the assessee by the government. The booklet How to compute capital gains published by… Read More »

Escalation rates for Procurement of Power by Distribution Licensees as per PPA

By | October 21, 2016

CENTRAL ELECTRICITY REGULATORY COMMISSION NOTIFICATION New Delhi, the 6th October, 2016 No. Eco-2/2016-CERC.—In pursuance of Clause 5.6 (vi) of Ministry of Power Notification on “Guidelines for Determination of Tariff by Bidding Process for Procurement of Power by Distribution Licensees”, dated 19.01.2005, as amended from time to time, the Central Electricity Regulatory Commission notifies the following… Read More »

GST impact on Food Sector

By | October 21, 2016

GST impact on Food Sector Imposing GST on food could have more impact on the poor. But exception of food from GST regime will shrink the tax base. Easy and Faster Availability of Food items ;After implemntion of GST because of the removal of octroi and entry tax which will significantly reduce the time and hassle… Read More »