"02 August 2017" Archive

Cheer from RBI! Repo rate cut by 25 basis points to 6%

Press Release: 2017-2018/326 and 2017-2018/325 (02/07/2017)

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.25 per cent to 6.0 per cent with immediate effect....

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SEBI Clarifies on Margin Trading Facility

Circular No. CIR/MRD/DP/ 86/2017-SEBI (01/08/2017)

The Stock Exchanges are advised to:- 6.1. take necessary steps and put in place necessary systems for implementation of this circular. 6.2. make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision....

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Stand up – Pass & Fail are the Two Aspects of Life

No matter, if could not get success this time, Stay always dynamic, Success will come the next time. Pass & fail are only two aspects of life, Give complete credit to your failure, As coming success is the result of facing failure this time. ...

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Posted Under: Fema / RBI |

Private healthcare sector: Income tax incentives, Legal Provisions & Judgments

Legal Provisions with respect to tax incentives availed by private health care sector under the Income Tax Act Section as per Income Tax Act Provision in brief 10(23C) In computing the total income of a previous year of any person, any income falling within any of the following clauses relating to such assessee (Private Hospital […...

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Posted Under: Fema / RBI |

HC Judgment on Addition for Sham Transaction in the hand of Partners

CIT Vs Vision Finstocks Ltd (Gujarat High Court at Ahmedabad)

CIT (Appeals) in a detailed judgement, reversed the order of the Assessing Officer holding that if at all the transaction was held to be sham, the additions can be made in the case of the firm and not the partners. ...

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Insight of Documentation under GST – (Special Reporting in GSTR 1)

It may be noted that in the GSTR 1 return, following declarations has to be filed by the supplier & has to maintained a consecutive series of all such documents...

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Posted Under: Fema / RBI |

GST Update – Weekly Update 29.07.2017

This Presentation covers the GST changes / observations/ press releases/ Tweet FAQs/ Sectoral FAQs released by CBEC since the last update on 22.07.2017. It supplements the earlier GST Updates....

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Posted Under: Fema / RBI |

CAG Point out various Income Tax Provisions getting misused related to Medical Sector

We recommend CBDT to consider prescribing measurable parameters for assessment of charitable activities undertaken by private hospital trusts as a pre-condition for granting exemptions under the Income Tax Act, and amend the Act for this purpose if necessary....

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Posted Under: Fema / RBI |

Summary of CAG Audit Report on Audit of Medical Sector

This performance audit covered the assessment of private hospitals, nursing homes/medical clinics, medical colleges/research institutes, diagnostic centres, pathological labs, medical supplies agencies/stores including those running on ‘not for-profit basis’, and healthcare delivery professionals which included cases of scrutiny asses...

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Posted Under: Fema / RBI |

CA IPC May 2016- Pass Percentage- Top 3 rank holders

Chartered Accountants Intermediate (IPC) Examination held in May, 2017-I. Details of top three rank holders on All India Basis for Chartered Accountants Intermediate (IPC) Examination held in May, 2017 are mentioned below:...

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Posted Under: Fema / RBI |
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