CIT Vs. Surya Educational & Charitable Trust (P&H HC) – Section 10(23C) of the Act are the provisions of the Act in substitution of the earlier provisions of Section 10(22) of the Act as to which income shall not be included in computing the total income of any person. Therefore, the provisions of Sections 11, 12 or Section 10(23C) of the Act, deal with the income of a Trust or of the Institution and the circumstances as to when such income is to be excluded for computing the total income, but the basis of such benefit is the registration under Section 12AA of the Act.
The Union Cabinet has approved the proposal of the Ministry of Corporate Affairs to further amend the Competition Act, 2002, with a view to fine tune it and to meet the present day needs in the field of competition, in the light of the experiences gained in the actual working of the Competition Commission of India in the last few years.
The Union Cabinet today approved necessary official amendments in the Insurance Laws (Amendment), Bill 2008, pending in the Rajya Sabha, with such drafting and consequential changes, if any, in consultation with the Legislative Department.
Notification NO. 4/2012-Customs (SG), Central Government after considering the said findings of the Director General (Safeguards), hereby imposes a safeguard duty on Carbon Black (for rubber application) , falling under tariff item 2803 00 10 of the First Schedule to the said Act, when imported into India from the People’s Republic of China at the rate of-
The Cabinet today approved revision of rates of Risk Allowance. Hospital Patient Care Allowance and Patient Care Allowance payable to about two lakh entitled Central Government employees to double the existing rates with effect from 1s’ September, 2008. The proposed revision in the rates of the Risk Allowance, Hospital Patent Care Allowance and Patient Care […]
After the Bill is passed and enacted by Parliament, Forward Market Commission (FMC) as a regulator will get autonomy and power to regulate the market effectively. New products like ‘options’ will be allowed in the commodity market. This will benefit various stakeholders including farmers to take benefit of ‘price discovery and ‘price risk management’. The Bill would enhance public accountability of the Regulator by providing for an Appellate Authority.
1. that the subscriber seeking minimum assured returns shall be allowed to opt for investing his funds in such schemes providing minimum assured returns as may be notified by the Authority; 2. withdrawals not exceeding 25 per cent of the contribution made by subscriber will be permitted from the individual pension account subject to the conditions, such as, purpose, frequency and limits, as may be specified by regulations by the Pension Fund Regulatory Authority and Development Authority (PFRDA)
The CMA Professionals have an important role to play in this area with their specialized domain knowledge. The cost reporting framework aims at highlighting the optimization of resources on a PPP (Planet, People and Profit) philosophy.
