RBI releases ‘Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks: September 2016’ Date : Nov 29, 2016 The Reserve Bank of India released today Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks (SCBs) as on September 30, 2016. The data for this quarterly survey has been collected from all SCBs including… Read More »
CBI starts to file FIRs in public domain New Delhi: CBI has started publishing FIRs on its website, a step which comes in compliance with the Supreme Court order directing every police force to publish FIR records within 24 hours of registration. CBI Director Anil Sinha The agency, which had been citing exemption from RTI Act, whenever asked… Read More »
CIRCULAR SEBI/HO/MRD/DSA/CIR/P/2016/125 November 28, 2016 All Stock Exchanges and Clearing Corporations in International Financial Services Centre Dear Sir/Madam Guidelines for functioning of Stock Exchanges and Clearing Corporations in International Financial Services Centre (IFSC) 1. Pursuant to announcement in the Union Budget 2015-16 on Gujarat International Finance Tec-City (GIFT), SEBI (International Financial Services Centre) Guidelines, 2015… Read More »
Exposure Draft SECRETARIAL STANDARD ON DIVIDEND The following is the text of the Secretarial Standard-3 (SS-3) on “Dividend”, issued by the Council of the Institute of Company Secretaries of India. Adherence to this Secretarial Standard is recommendatory for all companies to facilitate uniform practices in distribution of profits by way of “Dividend”. (In this Secretarial… Read More »
Exposure Draft SECRETARIAL STANDARD ON REPORT OF THE BOARD OF DIRECTORS The following is the text of Secretarial Standard on “Report of the Board of Directors”, issued by the Council of the Institute of Company Secretaries of India. Adherence by a company to this Secretarial Standard is recommendatory. (In this Secretarial Standard, the Standard portions… Read More »
Seeks to exempt Point of Sale (POS) devices and goods required for its manufacature from central excise duty till 31st March, 2017 TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 35/2016 – Central Excise New Delhi, the… Read More »
Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana 2016 Key Points about Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana 2016 Disclosure of black money held in banks or cash Background of Pradhan Mantri Garib Kalyan Yojana 2016 :In the wake of declaring specified bank notes of Rs 500/ Rs 1000 “as… Read More »
Guide to New Model GST Law (November 2016 Edition) Paperback – 2016 The ultimate updated ” Guide to New Model GST Law ” as on 26/11/2016. On basis various suggestions received, fresh model laws have been released by GST Council secretariat on 26-11-2016.Following three drafts have been released-Model GST Law, Model IGST Law, Draft Goods… Read More »
Online and digital transactions, including those such as hailing cabs through an online aggregators are likely to fall under goods and services tax (GST). Though the draft model GST law is silent on aggregators, tax experts say the relief may be short-lived. Aggregators, who are already liable to pay service tax, may subsequently be included… Read More »
FM tables The Taxation Laws (Second Amendment) Bill, 2016 in Lok Sabha on 28.11.2016 introducing stringent penalties and PM Garib Kalyan Deposit Scheme 2016. Important features includes: Any income assessed u/s 68/69/69A/69/69C/69D (including share capital, unsecured loans, etc) to be taxed u/s 115BBE, which is to be increased from 30% to 60% plus 25% surcharge… Read More »