"25 August 2015" Archive

Govt. notifies revised norms on Digital Signature

G.S.R. 660(E) (25/08/2015)

G.S.R. 660(E).—In exercise of the powers conferred by section 87 of the Information Technology Act, 2000 (21 of 2000), the Central Government hereby makes the following rules, namely:—...

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Summary of e- Consultation with Technical Advisory Committee on Monetary Policy: July 2015

Date : Aug 25, 2015 Summary of the Electronic Consultation with the Technical Advisory Committee on Monetary Policy: July 2015 Consultation with external Members of the Technical Advisory Committee (TAC) on Monetary Policy was held electronically between July 22 and 28, 2015 in the run up to the Third Bi-monthly Monetary Policy Review, 20...

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Posted Under: Corporate Law |

Rate of exchange of conversion of foreign currency wef 26th August, 2015

Notification No. 82/2015-Customs (N.T.) (25/08/2015)

Notification No. 82/2015 - Customs (N.T.) Dated 25th August, 2015 In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs hereby makes the following amendments in the Notification of the Central Board of Excise and Customs No. 81/2015-CUSTOMS (N.T.) dated the 20th A...

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ICAI takes back its decision on Mechanism to Monitor Tendering

The Council at its 345th meeting held from 14th to 16th August, 2015 considered the concerns raised by members on the decision of the Council with regard to mechanism to monitor tendering hosted on the website of the Institute on 22nd July, 2015....

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Posted Under: Corporate Law |

RBI Report on Compilation of Flow of Funds Accounts for Indian Economy

The Reserve Bank of India today placed on its website the Report of the Working Group on Compilation of Flow of Funds Accounts for Indian Economy. The report is accompanied by a manual on the compilation methodology....

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Posted Under: Corporate Law |

Custom Duty- Measures taken for ease of doing business in India

Ease of Doing Business in India and in Law Related to Custom Duty – In line with the objectives to facilitate trade and improve ease of doing business, the following measures have been taken by CBEC during last one year: CUSTOMS: 24×7 Customs Clearance: With effect from 31.12.2014, facility of 24×7 Customs clearance for sp...

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Posted Under: Corporate Law |

Excise Duty- Measures taken for ease of doing business in India

Reduction in number of levies: Education Cess and Secondary & Higher Education Cess on excisable goods have been subsumed in Basic Excise duty. [Notifications 14/2015-Central Excise and No. 15/2015-Central Excise, both dated 01.03.2015 refer]....

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Posted Under: Corporate Law |

Services Tax- Measures Taken for Ease of doing Business in India

Reduction in number of levies: Education Cess and Secondary & Higher Education Cess on taxable services have been subsumed in Service Tax with effect from 06.2015. [Sections 153, 159 of the Finance Act, 2015 read with notification No.14/2015-Service Tax, dated 19.05.2015 refers]....

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Posted Under: Corporate Law |

Form No. 61B Filing Procedure- Statement of Reportable Account

Notification No. 3/2015 - Income Tax (25/08/2015)

Notification No. 3/2015 - Income Tax In exercise of the powers delegated by Central Board of Direct Taxes ('Board') under Sub rule (9)(a) and 9(b) of Rule 114G of the Income tax Rules 1962, the Principal Director General of Income-tax (Systems) lays down the procedures, data structure and standards for ensuring secure capture and transm...

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Entrance fee paid to golf association in order to develop contacts with other corporate leaders is allowable business expenditure

DCIT Vs Hinduja Global Solutions Ltd. (ITAT Mumbai)

In this case ITAT examined the issue whether fee paid to golf club on behalf of director to develop links with other corporates leaders is an allowable business expenditure. On the basis of other judicial pronouncement ITAT decided this question in favour of assessee....

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