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Archive: 25 August 2016

Posts in 25 August 2016

Delhi HC- situs of an intangible asset is the situs of owner

August 25, 2016 7460 Views 0 comment Print

Delhi High Court has held that the situs of an intangible asset is the situs of the owner of that asset and therefore the transfer of such asset by a non­resident would not be taxable in India even if the asset was being commercially used in India.

Commercial Surrogacy -Now Legally Prohibited!!!!

August 25, 2016 2549 Views 0 comment Print

Union Cabinet cleared the Surrogacy (Regulation) Bill, 2016, dated 24.08.2016, banning commercial surrogacy in India. It’s a draft bill which is yet to be passed by government.

ICAI represents on Co-operative Societies auditors appointment

August 25, 2016 12914 Views 0 comment Print

Representations Reg. Manner of audit appointments and other audit related issues- Co-operative housing and Other Societies Please find enclosed herewith the copy of the Representation as submitted to Commissioner for Cooperation and Registrar of Cooperative Societies, State of Maharashtra, regarding manner of audit appointments and other audit related issues in Co-operative housing and Other societies. […]

What an Investor Need to know before Investing about Asset Classes?

August 25, 2016 2090 Views 0 comment Print

Making the right investment plan is an interesting way to multiply an individual’s savings. How well the planning could be done? From where should it begin? How is going to grow? Isn’t it very curious to make money multiply?

7 reasons behind your mutual funds’ poor performance & how to overcome them

August 25, 2016 4817 Views 1 comment Print

1. Considering investment based on their past performance: This is one of the primary methods of selection. There is nothing wrong in judging the mutual funds on basis of the past performance. However, the question arises about how long will be the past that you are going to check.

Cost of amenities paid under unregistered agreement forms part of cost of acquisition of flat

August 25, 2016 13070 Views 0 comment Print

ITAT Mumbai held that the cost of acquisition of flat shall include the cost of amenities even when the agreement requiring the flat purchaser to pay such cost is not registered and no stamp duty paid on amenities cost.

How To Start Export of Products From India

August 25, 2016 6542 Views 0 comment Print

Recently, at Hubco, we start getting many queries related to starting of Export business in India, but at the same time, the people raising the questions does not know in what direction they should start working. So to (or intending to) providing those entrepreneurs with knowledge about how to launch the export business and what are major steps involved in making their first export successful from India, we have prepared an Infographic.

Comprehensive Understanding on issue of Bonus Shares

August 25, 2016 9107 Views 2 comments Print

Bonus issue refers to a further issue of shares made by a company having share capital to its existing shareholders in proportion to their holdings without any consideration. It is also called as capitalization of the reserves of the Company.

Onus to enforce attendance of hostile witness located beyond 500 Kms

August 25, 2016 5618 Views 0 comment Print

During Income tax proceedings, often statement of a person is used to catch hold of prospective tax evading assessees. But, it is trite that the statement of such a person cannot be allowed to be used against the assessee without even providing an opportunity of cross examining such person.

FAQS- Enhancing Credit Supply for Large Borrowers

August 25, 2016 2582 Views 0 comment Print

Enhancing Credit Supply for Large Borrowers through Market Mechanism (i) If a borrower has aggregate sanctioned credit limit of Rs. 25,000 crore on or before March 31, 2016, will it still qualify as a ‘Specified Borrower’? Ans: In all such cases, the borrower will deemed to be a ‘Specified borrower’ from April 1, 2016 and […]

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