Section 153 of Finance Act 2018 [Section 153 of Finance Act 2018 deals with Amendment of section 23-I and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 23-I 153. In section 23-I of the principal Act, in sub-section (1), for the word ”shall”, the word ”may” shall be substituted. Finance Act 2018 : Assented by President :… Read More »
Section 152 of Finance Act 2018 [Section 152 of Finance Act 2018 deals with Insertion of new section 23GA and is covered in CHAPTER VIII MISCELLANEOUS] Insertion of new section 23GA 152. After section 23G of the principal Act, the following section shall be inserted, namely:— “23GA. Penalty for failure to conduct business in accordance with rules, etc.—Where a… Read More »
Section 149 of Finance Act 2018 [Section 149 of Finance Act 2018 deals with Amendment of section 23A and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 23A 149. In section 23A of the principal Act, in sub-clause (a), after the words “bye-laws of the recognised stock exchange”, the words “or who furnishes false, incorrect or incomplete… Read More »
Section 150 of Finance Act 2018 [Section 150 of Finance Act 2018 deals with Amendment of section 23E and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 23E 150. In section 23E of the principal Act, after the words “mutual fund”, the words “or real estate investment trust or infrastructure investment trust or alternative investment fund”, shall… Read More »
Section 148 of Finance Act 2018 [Section 148 of Finance Act 2018 deals with Amendment of section 23 and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 23 148. In section 23 of the principal Act, in sub-section (1), in the long line, after the words “Adjudicating officer”, the words “or the Securities and Exchange Board of… Read More »
Section 147 of Finance Act 2018 [Section 147 of Finance Act 2018 deals with Amendment of section 12A and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 12A 147. In the Securities Contracts (Regulation) Act, 1956 (42 of 1956) (hereafter in this Part referred to as the principal Act), section 12A shall be numbered as sub-section (1)… Read More »
Section 146 of Finance Act 2018 [Section 146 of Finance Act 2018 deals with Commencement of this Part and is covered in CHAPTER VIII MISCELLANEOUS] PART VI AMENDMENTS TO THE SECURITIES CONTRACTS (REGULATION) ACT, 1956 Commencement of this Part 146. The provisions of this Part shall come into force on such date as the Central Government may, by… Read More »
Revised Standard on Auditing (SA) 299, “Joint Audit of Financial Statements” Introduction Scope of this SA 1. The practice of appointing more than one auditor to conduct the audit of large entities has been in vogue for a longtime, sometimes voluntarily by the shareholders or sometimes due to the requirements of laws or regulations. Such auditors,… Read More »
Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan Notification No. 58/2015-2020 New Delhi, Dated: 28 March, 2018 Subject: Amendment in Para 2.31 of Foreign Trade Policy, 2015-2020. S.O. (E): In exercise of powers conferred by Section 3 of FT (D&R) Act, 1992, read with paragraph 1.02 and 2.01… Read More »
RBI/2017-18/144 DGBA.GBD.No.2388/42.01.029/2017-18 March 27, 2018 All agency banks Dear Sir / Madam Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2017-18) The Government of India has desired that all government transactions with banks for Financial Year 2017-18 must be accounted for within the… Read More »