Cabinet approves the repealing of the obsolete and redundant laws The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for introduction of the Repealing and Amending Bill, 2017 to repeal 105 Acts. Background: The two Member Committee constituted by the PMO, the Law Commission of India and the Legislative… Read More »
Cabinet approves the exclusion of States from the investments of National Small Savings Fund from 1.4.2016 The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to exclude State Governments States/UTs (with Legislature) except Arunachal Pradesh, Delhi, Kerala and Madhya Pradesh from National Small Savings Fund (NSSF) investments from 01.04.2016. … Read More »
FAQ on PMGKY 2016 Central Board of Direct Taxes (CBDT) has released 12 FAQ on PMGKY 2016 vide circular No 2 of 2017 as below :- Circular No.2 of 2017 F.No.142/33/2016-TPL(Part) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) Dated: 18th of January, 2017 Clarifications on the… Read More »
Consolidated Foreign Direct Investment Policy Circular of 2017 – inviting comments from stakeholders Department of Industrial Policy & Promotion issued a ‘Consolidated FDI Policy Circular (Circular 1 of 2010)‘ on 31/03/2010, compiling all the information on FDI policy at one place. The Circular subsumed all the earlier Press Notes/ Press Releases/ Clarifications regarding Government’s policy… Read More »
CA Final November 2016 Pass Percentage ttempt Group No. Of Candidate Appeared No. of candidates cleared pass percentage CA Final November 2016 Pass Percentage Both 36768 4256 11.57% CA Final Nov 2016. Group – 1. 37200 2655 07.14% CA Final Nov 2016. Group – 2. 36896 4545 12.32% CA Final may 2016 Both 40180 4565… Read More »
Ministry of Corporate Affairs updates dt. 18.01.2017 Forms ADJ, DIR-6 and 23AC are likely to be revised on MCA21 Company Forms Download page w.e.f 19th Jan 2017. Stakeholders are advised to check the latest version before filing. Revised INC-7 form for incorporating Part 1 companies and companies with more than 7 Subscribers is made available… Read More »
From Ministry of Corporate Affairs , Govt of India To, The Principal Officer All eligible companies Sir, As per Rule 114E of the Income Tax Rules 1962, for and from 2016-17, all companies have to be furnish SFT in respect of certain specified transactions as tabulated below: S.No. Nature and value of transactions Reporting companies… Read More »
Life Certificate for Pensioner /Jeevan Praman Ho No. Pension-I/17(1)2016/Jeevan Pranam/613 Dated 16.01.2017 Subject : Submission of Life Certificate for Pensioner extended to 28.02.2017
Rounding off of tax under GST As per Section 160 of Revised Model GST Law, 160. Rounding off of tax etc. The amount of tax, interest, penalty, fine or any other sum payable, and the amount of refund or any other sum due, under the provisions of the Act shall be rounded off to the nearest… Read More »
Tax sparing credit The Hyderabad Bench of the Income-tax Appellate Tribunal held that: (1) the “ tax sparing ” credit is allowed on the interest income under the India-Cyprus income tax treaty; (2) payment for clinical trials is not taxable as “fees for technical services” under the India-United States income tax treaty; and (3) post-merger,… Read More »