"28 April 2017" Archive

Cyprus seeks Indian investments to enhance ties: Nicos Anastasiades

President of the Republic of Cyprus urged Indian industry to invest in the country`s key areas including banking and finance, shipping and transportation, education, science and technology, pharmaceuticals, renewable energy and tourism in order to stimulate trade and investments between the two countries said at `India –Cyprus Business ...

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Posted Under: Income Tax |

Need to create awareness on pension at grassroots level

Need to create awareness on pension at grassroots level...

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Posted Under: Income Tax |

Patent application examination time may reduce to 18 months

Government is taking steps to reduce the patent application examination time to 18 months. IPR enforcement tool kit enables police to beef up govt. machinery to handle infringement issues ...

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Posted Under: Income Tax |

GST: Five States passed SGST Acts till date

DO.No.06/CH(EC)/2017 (28/04/2017)

On the GST front, five States - Telangana, Bihar, Rajasthan, Jharkhand and Chhattisgarh have passed the SGST Acts as on date. The other States are also in the process of calling sessions of the respective legislative assemblies/council for passage of the law. ...

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Misappropriation of fund cannot be ground for cancellation of Trust registration

Vignana Jyothi Vs Director of Income Tax (ITAT Hyderabad)

The Hyderabad bench of Income Tax Appellate Tribunal (ITAT) held that Collection of donation by Educational Institution/ Society is not ‘Capitation Fee. ...

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RBI Guidelines on Merchant Acquisition for Card Transactions

Circular No. DCBR.RAD (PCB/RCB)4/7.12.001/2016-17 RBI/2016-17/296 (28/04/2017)

All co-operative banks not intending to act as Point of Sale (POS) acquiring bank are permitted to deploy third party POS terminals without prior approval of Reserve Bank of India (RBI) subject to the bank fulfilling the following criteria:...

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SEBI Circular on disclosure of executive remuneration by Mutual Funds

Circular No.: SEBI/HO/IMD/DF2/CIR/P/2017/35 (28/04/2017)

This circular is issued in exercise of the powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act 1992, read with the provision of regulation 77 of SEBI (Mutual Funds) Regulations, 1996 to protect the interests of investors in securities and to promote the development of, and to regulate the securities mar...

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Requirement of Net Owned Fund for Asset Reconstruction Companies

Notification No. RBI/2016-17/295 DNBR. PD (ARC) CC. No. 03/26.03.001/2016-17 and Notification DNBR (PD-ARC) No. 05/ED(SS)-2017 (28/04/2017)

No Asset Reconstruction Company shall commence or carry on the business of securitisation or asset reconstruction without having Net Owned Fund (hereinafter referred to as NOF) of not less than Rupees two crore or such other higher amount as the Reserve Bank may, by notification, specify....

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Committee Report on 7th CPC recommendations on Allowances

The Committee on Allowances, constituted by the Ministry of Finance to examine the 7th CPC recommendations on Allowances, submitted its Report to Shri Arun Jaitley, Finance Minister on 27.04.2017 ...

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Posted Under: Income Tax |

Notification No. 42/2017-Customs (N.T.), Dated: 28.04.2017

Notification No. 42/2017-Customs (N.T.) (28/04/2017)

Notification No. 42/2017-CUSTOMS (N.T.) In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of India in the M...

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