"09 March 2017" Archive

CBI Registers a case against DGM & AGM of Union Bank of India

(07/03/2017)

CBI REGISTERS A CASE AGAINST DGM & AGM, BOTH OF UNION BANK OF INDIA AND THREE PROPRIETOR/DIRECTOR OF PRIVATE FIRMS & OTHERS FOR ALLEGED VIOLATION OF RBI GUIDELINES...

Read More
Posted Under: Fema / RBI |

IRDA Guidelines on Insurance e-commerce

IRDA/ INT/ GDL/ ECM/055/03/2017 (09/03/2017)

The Chief Executive Officer and the compliance officer of applicant's ISNP shall file with the Authority annually a compliance certificate certifying that the information displayed on the webs-site, the processes, procedures and any other mechanism by whatever name called. displayed and implemented on the platform were in compliance to th...

Read More

Canada Chapter of ICAI launched helpline for Members

Canada (Toronto) Chapter of ICAI launched helpline for Members interested for getting CPA Canada membership -An email cpahelpline@icaitoronto.com has been created for members to send their inquiries to CPA helpline team at their convenience....

Read More
Posted Under: Fema / RBI |

India & Belgium sign Protocol amending India-Belgium DTAA

The Protocol will broaden the scope of the existing framework of exchange of tax related information which will help curb tax evasion and tax avoidance between the two countries and will also enable mutual assistance in collection of taxes....

Read More
Posted Under: Fema / RBI |

ICSI Invites Suggestions for Post-Budget Memorandum 2017-18

As you all are aware that the Union Budget 2017-18 presented in the Parliament on 1st February, 2017 contains various proposed changes in the Finance Bill, 2017. The Institute has submitted the Pre-Budget Memorandum 2017-18 to the Ministry of Finance on 31st October, 2016. ...

Read More
Posted Under: Fema / RBI |

Assessment of Individual cannot be done by issuing notice on HUF

Shri. Deen Dayal Kothari Vs Income Tax Officer, (ITAT Chennai)

An 'individual' and an 'HUF' are different persons under the Income Tax Act, and notice to one cannot be deemed as notice to the other....

Read More

No Work No Pay- Even for the period of termination: Bombay HC

Mohan Moreshwar Agashe Vs Managing Director (Bombay High Court)

By this Writ Petition, under Article 226 of the Constitution of India the Petitioner inter alia prays for issuance of a Writ of Mandamus calling for the record and files in respect of the service of the Petitioner from the office of the Respondents and after perusal of the same to declare the letters dated 30th October, 2012...

Read More

Frivolous, Groundless Filings Serious Menace to Justice Administration

Dnyandeo Sabaji Naik ans ANR Vs Mrs. Pradnya Prakash Khadekar and ORS (Supreme Court of India)

Courts across the legal system - this Court not being an exception – are choked with litigation. Frivolous and groundless filings constitute a serious menace to the administration of justice. They consume time and clog the Productive resources which should be deployed in the handling of genuine causes are dissipated in attending to case...

Read More

Income from Subletting of Property is House Property Income

Akola Trading Company P. Ltd. v/s ITO (ITAT Mumbai)

Amount received by the assessee on account of subletting the property is only income from house property and has to be treated as such. In such circumstances there is no justification of allowing expenses against the house property income other than that provided as deduction under the scheme of computation of house property income....

Read More

Section 269SS and 269T applicable to NBFC: RBI

DNBR (PD) CC.No.086/03.10.001/2016-17-RBI (09/03/2017)

Section 269SS and 269T of the Income Tax Act, 1961, the requirements under the Income Tax Act, 1961, as amended from time to time, would be applicable to all NBFCs with immediate effect. Currently, the relevant threshold under the Income Tax Act, 1961 is Rupees Twenty thousand....

Read More
Page 1 of 41234