Daily Archives: December 27, 2016

RBI FAQ on withdrawal of Rs 500 and Rs 1000 Bank Notes Updated as on December 27, 2016)

By | December 27, 2016

Withdrawal of Legal Tender Character of the old Bank Notes in the denominations of Rs 500/- and Rs 1000/- (Updated as on December 27, 2016) 1. Why is this scheme introduced? The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the fake notes look similar to genuine notes, even… Read More »

Revised Rule 50 of Employees State Insurance (Central) Rules 1950 w.e.f 01.01.2017

By | December 27, 2016

Rule 50 of Employees State Insurance (Central) Rules 1950 Rule 50 of  Employees State Insurance deals with wage limit as follow :- 50. Wage limit for coverage of an employee under the Act. — The wage limit for coverage of an employee under sub-clause (b) of clause (9) of Section 2 of the Act shall… Read More »

ESIC Applicability – Threshold Salary Limit increased to Rs 21000 -Govt Notification

By | December 27, 2016

The Employees’ State Insurance Corporation (ESIC) raised the monthly wage threshold to Rs 21,000,from the current Rs 15,000, for coverage under its health insurance scheme.  The wage limit for coverage of an employee under sub-clause (b) of clause (9) of Section 2 of the Act shall be  twenty one thousand rupees w.e.f 01.01.2017 vide notification… Read More »

Year End Review – 2016 -Ministry of Corporate Affairs Achievements -422 Sections of Companies Act notified

By | December 27, 2016

Major policy initiatives and achievements of the Ministry of Corporate Affairs (MCA); MCA entrusted with the responsibility to administer the Insolvency and Bankruptcy Code, 2016 (Code);The Insolvency and Bankruptcy Board of India (IBBI) established; Stabilization of the Cost Records and Audit Rules Year End Review – 2016 Ministry of Corporate Affairs   Following are the… Read More »

Draft Food Safety and Standards -Fortification of Food- Regulations 2016

By | December 27, 2016

MINISTRY OF HEALTH AND FAMILY WELFARE (FOOD SAFETY AND STANDARDS AUTHORITY OF INDIA) NOTIFICATION New Delhi, the 23rd December , 2016. F. No. 11/03/Reg/Fortification/2014.—The following draft of the Food Safety and Standards (Fortification of Foods) Regulations, 2016, which the Food Safety and Standards Authority of India proposes to make with the previous approval of the… Read More »

10 Worst excuses for late filing of tax returns in UK

By | December 27, 2016

Excuses for late filing of tax returns Source : https://www.gov.uk [ Her Majesty’s Revenue and Customs (HM Revenue and Customs or HMRC) is a non-ministerial department of the UK Government responsible for the collection of taxes, the payment of some forms of state support, and the administration of other regulatory regimes including the national minimum… Read More »

Delhi Metro Station to Go Cashless from 01st Jan 2017 – Steps to follow for Token

By | December 27, 2016

10 Metro stations of the Delhi Metro network will go completely cashless in their transactions from 1st January, 2017 onwards as part of the Government of India’s vision to transform India into a cashless economy. The cashless transactions for token/smart card purchase/top up at these stations can be done through Paytm by using Paytm QR-code, which… Read More »