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Archive: 15 October 2015

Posts in 15 October 2015

Section 10B: Duty Drawback is not the income derived from undertaking

October 15, 2015 21096 Views 0 comment Print

ITAT Jaipur held in case of ACIT Vs. Smt. Ranjana Johari that if change made in the wooden article which resulted in to a new and different article then it would amount to manufacturing activity. The assessee, Ranjana Johari, had undertaken different activities to shape up

E-biz launches composite application form for PAN, TAN, DIN & Company Incorporation

October 15, 2015 1348 Views 0 comment Print

Joined Up Service NA – DIN – COI – PAN – TAN – ESIC – EPFO Description:- This joined up service enables the applicant to fill a common form for ‘MCA-Name, DIN and COI’, ‘CBDT-PAN, TAN’, ‘MoLE- ESIC and EPFO’ services and the same is then routed sequentially to the respective department for processing. While […]

AO cannot reject entire books of accounts on insignificant defects having minuscule impact on profit

October 15, 2015 1141 Views 0 comment Print

ITAT Ahmedabad held In the case of The ACIT vs. Garden Silk Mills Ltd. that rejection of books of accounts should not be in a mechanical manner. The AO has to come to a definite conclusion that the accounts are not correct or not complete; consequently, it has distorted the true picture of profit.

The Securities Contracts (Regulation) Act, 1956 As amended by Finance Act, 2015

October 15, 2015 11786 Views 0 comment Print

SECURITIES CONTRACTS (REGULATION) ACT, 1956 [42 OF 1956] [4th September, 1956] An Act to prevent undesirable transactions in securities by regulating the business of dealing therein, 1[***] by providing for certain other matters connected therewith. BE it enacted by Parliament in the Seventh Year of the Republic of India as follows : PRELIMINARY Short title, […]

Notification No. 99/2015-Customs (N.T.) Dated- 15th October, 2015

October 15, 2015 457 Views 0 comment Print

Notification No. 99/2015-Customs (N.T.) CBEC hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 61/94-Customs (N.T.), dated the 21st November, 1994, published in the Gazette of India, vide number S.O. 828 (E), dated the 21st November, 1994, namely:-

Advance against Pledge of Gold ornaments/jewellery

October 15, 2015 579 Views 0 comment Print

On a review, it has been decided that the cooperative banks may also use the historical spot gold price data of the preceding 30 days publicly disseminated by a Commodity Exchange regulated by the Securities and Exchange Board of India.

Financial Inclusion Fund (FIF) – Revised Guidelines

October 15, 2015 1126 Views 0 comment Print

DCBR.RCBD.BPD.No.4/19.51.010/2015-16 Keeping in view the various developments over the years, GOI has merged the FIF and FITF to form a single Financial Inclusion Fund. The Reserve Bank of India has finalised the new scope of activities and guidelines for utilisation of the new FIF in consultation with GOI. The new FIF will be administered by the reconstituted Advisory Board constituted by GOI and will be maintained by NABARD.

Limited Liability Partnership (Amendment) Rules, 2015

October 15, 2015 5497 Views 0 comment Print

For the purposes of the proviso to sub-section (1) of section 58 of the Act, where the firm has been converted into limited liability partnership, an intimation of such conversion to the concerned Registrar of Firms shall be given in Form 14 within fifteen days of the date of registration of the Limited Liability Partnership

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