Daily Archives: December 11, 2016

Section – 34 of Insolvency and Bankruptcy Code 2016

By | December 11, 2016

Section – 34 of Insolvency and Bankruptcy Code 2016 [ Comes into Force w.e.f 15.12.2016 vide Notification No S.O. 3687(E) Dated 09.12.2016 ] Appointment of Liquidator and fee to be paid. 34. (1) Where the Adjudicating Authority passes an order for liquidation of the corporate debtor under section 33, the resolution professional appointed for the… Read More »

Section 33 of Insolvency and Bankruptcy Code 2016

By | December 11, 2016

Section – 33 of Insolvency and Bankruptcy Code 2016 [ Comes into Force w.e.f 15.12.2016 vide Notification No S.O. 3687(E) Dated 09.12.2016 ] CHAPTER III LIQUIDATION PROCESS Initiation of Liquidation. 33. (1) Where the Adjudicating Authority,— (a) before the expiry of the insolvency resolution process period or the maximum period permitted for completion of the… Read More »

No reopening of case u/s 147 due to increased sales in FY 2016-17 : CBDT Circular

By | December 11, 2016

Circular No. 40/2016 Government of India Ministry of Finance Department of Revenue (CBDT) North Block, New Delhi, the 9th of December, 2016 Subject: – Directions under section 119 of the Income-tax Act, 1961-regd.- Recent initiatives of the Government to curb the black economy in the country has encouraged people to shift towards digital mode of… Read More »

section 33 to section 54 of Insolvency and Bankruptcy Code 2016 w.e.f 15.12.2016

By | December 11, 2016

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 9th December, 2016 S.O. 3687(E).—In exercise of the powers conferred by sub-section (3) of section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints the 15th day of December, 2016 as the date on which the provisions of section 33… Read More »

New Book on Benami Property Law and Taxation of Demonetised Notes -December 2016 Edition

By | December 11, 2016

New Law Relating to Benami Properties with Benami Properties Law and Taxation of Demonetised 500/- and 1000/- Notes (December 2016 Edition) What is Benami Transaction?**** What is ‘Benami Property’? Who is benamidar and who is ‘beneficial owner’?****Legal consequences of Benami Transactions,**** Income Declaration Scheme, 2016 (IDS) & New Benami Law,****Pradhan Mantri Garib Kalyan Yojana (PMGKY)… Read More »

List of Top Cashless Countries

By | December 11, 2016

TOP CASHLESS COUNTRIES COUNTRIES CASHLESS TRANSACTIONS 1-Singapore 61% 2-Netherlands 60% 3-France 59% 4-Sweden 59% 5-Canada 57% 6-Belgium 56% 7-United Kingdom 52% 8-USA 45% 9-Australia 35% 10-Germany 33% 11-South Korea 29% 12-Spain 16% 13-Brazil 15% 14-Japan 14% 15-China 10% India 2% Source: Mastercard Advisor’s Measuring progress toward a cashless society