Both promoter and buyer can terminate agreement in case of default by each other Price of apartment escalation free under Agreement for Sale Rules notifiedDate of delivery of possession to be specified in the Agreement; buyers shall take possession in 2 months To ensure timely implementation of real estate projects, the Real Estate (Regulation &… Read More »
Directorate of Revenue Intelligence (DRI) seizes about 23.5 metric tonnes of Mandrax Tablets (Methaqualone) of over Rs. 3,000 crore in one of the biggest seizure of Narcotic Drugs & Psychotropic Substances in the world; Mastermind of the syndicate has been arrested by DRI and follow-up operation is underway to nab others involved with the drug… Read More »
GSTN to borrow 800 cr to meet infra building cost GSTN, the company that is building the world’s biggest and most complex tax system, will borrow Rs. 800 crore from banks to fund infrastructure costs to support Goods and Services Tax rollout from April 1 next year. The Goods and Services Tax Network (GSTN), a… Read More »
Held ”Since separate provisions were prescribed on default for non-filing or delayed filing of Form 15G/15H to Commissioner. non filing of such form would not invoke disallowance under section 40(a)(ia) and that where person responsible to deduct TDS received declaration in form 15G/form 15h non-filing or delayed filing of such form before Commissioner would not… Read More »
Held Any stock in trade by profession is excluded from the definition of capital asset and in these circumstances the contention of the Revenue is that stock in trade is also included for applicability of Section 54F of the Act, in our view, cannot be accepted. HIGH COURT OF KARNATAKA Commissioner of Income-tax, Mangalore v.… Read More »
Advance tax Income liable for advance tax Advance tax is payable under section 211 of Income tax Act.All income (including capital gains, winnings from lotteries, crossword puzzles, etc.). are taken into account to compute Advance Tax Liability. Who is not required to Pay Advance Tax ? Resident individuals who are over 60 years of age… Read More »
How to deposit Self Assessment Tax ? Self Assessment Tax Your income tax return cannot be submitted to the tax department, unless you have paid tax dues in full. Self – Assessment Tax is to be deposited to the credit of Government by using the challan prescribed in this behalf, i.e., ITNS 280. Mode of… Read More »
PR No. 150/2016 Circular on Enhanced Standards for Credit Rating Agencies (CRAs) With a view to strengthen the functioning of CRAs and to harmonise the best practices in the industry,SEBI constituted a committee on “Strengthening the Guidelines and Raising Industry Standards for Credit Rating Agencies (CRAs)”, which included representatives from all the CRAs. The objective… Read More »
PR No. 151/2016 EXIT ORDER IN RESPECT OF BOMBAY COMMODITY EXCHANGE LIMITED (BCEL) Whole Time Member, SEBI has passed an Order on Oct 28, 2016 providing the exit to Bombay Commodity Exchange Limited (BCEL). BCEL is the first commodity derivatives exchange / deemed stock exchange to exit after merger of Forward Markets Commission with SEBI.… Read More »
EMPLOYEES’ PROVIDENT FUND ORGANISATION (Ministry of Labour & Employment, Govt. of India) Head Office Bhavishya Nidhi Bhawan, 14, Bhikaji Cama Place, New Delhi – 110 066. (CENTRAL ANALYSIS & INTELLIGENCE UNIT) No. CAIU/011(59)2016/MOL/12872 Dated: 31/10/2016 To All Additional Central P.F. Commissioner (Zones) All Regional P.F. Commissioner-In-charge of ROs/SROs Sub: – Digitization of registers and other… Read More »