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Monthly Archives: December 2016
Win Rs 1 Crore Lottery for making Digital Payments
NITI Aayog announces the launch of the schemes Lucky Grahak Yojana and the Digi-धन Vyapar Yojana Press conference on Digital Payments: CEO, Niti Aayog, Shri Amitabh Kant NITI Aayog announces the launch of the schemes Lucky Grahak Yojana and the Digi-धन Vyapar Yojana to give cash awards to consumers and merchants who utilize digital payment… Read More »
RBI Revised threshold for taking PAN/ Form 60 for Bank accounts – KYC
Compliance to provisions of Master Direction on Know Your Customer (KYC) RBI/2016-17/183 DBR.AML.BC.48/14.01.01/2016-17 December 15, 2016 All Regulated Entities Dear Sir/Madam, Compliance to provisions of Master Direction on Know Your Customer (KYC) A reference may be made to the following provisions of the Master Direction on Know Your Customer (KYC): (i) Section 8(d) and (e),… Read More »
Lucky Grahak Yojana and Digi-Dhan Vyapar Yojana Lauched for Incentivising digital payment
NITI Aayog announces launch of the schemes – Lucky Grahak Yojana and Digi-Dhan Vyapar Yojana – for incentivising digital payment Government of India has initiated numerous steps to combat the scourge of Corruption and Black Money in the last two and a half years. The Union cabinet had approved a slew of initiatives in February… Read More »
Exchange Rate of Foreign Currency w.e.f 16.12.2016
Exchange Rate of Foreign Currency Relating To Imported and Export Goods Notified In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs(CBEC) No.145/2016-CUSTOMS (N.T.), dated 1st December, 2016, except as respects things done or… Read More »
Guidelines for Sand Mining
Guidelines for Sand Mining Sand is a minor mineral, as defined under section 3(e) of the Mines and Minerals (Development and Regulation) Act, 1957 (MMDR Act). Section 15 of the MMDR Act empowersstate governments to make rules for regulating the grant of mineral concessions in respect of minor minerals and for purposes connected therewith. The… Read More »
Additions of Peak credit in case of unexplained cash deposits recycled in saving account
Held The assessee having furnished the bank statement Assessing Officer could have verified and noticed that there were credits and corresponding debits which would give an indication that some amount has been recycled and it is a settled principle that in such cases ordinarily, peak credit is taken into consideration for the purpose of making… Read More »
Amended DTAA between India and Tajikistan approved
Cabinet approves protocol amending the agreement between India and Tajikistan for avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi has approved the protocol amending the agreement between India and Tajikistan for avoidance of double taxation and… Read More »
Replacement of Major Port Trusts Act 1963 with Major Port Trust Authorities Bill 2016 approved
Cabinet approves replacement of ‘Major Port Trusts Act, 1963’ with ‘the Major Port Trust Authorities Bill, 2016’ The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi has approved the proposal of Ministry of Shipping to replace the Major Port Trusts Act, 1963 by the Major Port Authorities Bill, 2016. This will empower the… Read More »
Will holder will get Shares after death not nomination holder u/s 109A of Companies Act
Whether a nominee of a holder of shares or securities appointed under Section 109A of the Companies Act, 1956 read with the Bye-laws under the Depositories Act, 1996 is entitled to the beneficial ownership of the shares or securities subject matter of nomination to the exclusion of all other persons who are entitled to inherit… Read More »