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On the basis of an assessment of the current and evolving macroeconomic situation, it has been decided to: 1. reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 7.5 per cent to 7.25 per cent with immediate effect; 2. keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 per cent of net demand and time liabilities (NDTL);
The locution `Enquiry’ is a term of wide and capacious connotation signifying and inherently carrying with it the burden to enquire, probe, delve, scrutinize, escalate and to congregate such vital and salient information as might be required to entrust and endow the charm of stepping into the shoes of scrutiny proceedings carried in due reference to the stipulations provided for by the Income Tax Act, 1961.
Effective June 1, 2015 TDS will be applicable at the rate of 1% or 2%, as the case may be, in the case of all payments made to a contractor during the course of plying, hiring or leasing of goods carriage, except in cases where such contractor has furnished a Declaration.
You are advised that henceforth Concurrent Auditors, who are chartered accountants, of branches below the cut-off point will submit LFAR only to the Chairman of the bank. The banks in turn will consolidate/compile all such LFARs submitted by the Concurrent Auditors and submit to Statutory Central Auditor as an internal document of the bank.
Let’s dream, let’s take a breather, let’s talk about Taxation in Dubai Dubai, one of the Seven Emirates that together form United Arab Emirates (UAE), has one of the most liberal Taxation systems in the World. Dubai maintains its own judicial system, separate from the other Emirates. Currently no Taxes are payable on Income by […]
These days quite some number people are getting Show Cause Notice under section 266G of the Companies Act 1956. What’s this notice all about? As per Section 266C of the Companies Act 1956, No individual, who had already been allotted a Director Identification Number under Section 266B, shall apply, obtain or possess another Director Identification Number (DIN).
