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Archive: May, 2016

Posts in May, 2016

Latvia invited to join OECD and Related FAqs

May 13, 2016 997 Views 0 comment Print

11/5/2016 – OECD countries agreed today to invite Latvia to become a member of the Organisation – a move that would extend OECD’s membership to 35 countries. OECD Secretary-General, Angel Gurría Said: “We are very pleased to welcome Latvia as a member of the OECD. This development reaffirms our Organisation’s commitment to bring together countries who […]

SOP-Pending Trade Mark Mediation Process

May 13, 2016 1234 Views 0 comment Print

DSLSA approached the office of Controller General of Patents, Designs & Trade Marks Registry, Government of India to undertake a Pilot Project for amicable settlement of Opposition/ Rectification matters at the Trade Mark Registry, Delhi through its trained Advocates/ Mediators;

CBI arrests a Tax Assistant for bribe in lieu of TDS refund

May 13, 2016 3718 Views 0 comment Print

CBI has caught a Tax Assistant red handed while demanding & accepting a bribe of Rs.7,000/- from the complainant. A case was registered against the Tax Assistant, Income Tax Office, Kashipur (Uttrakhand) on the allegations of demanding a bribe of Rs.7,000/- from the complainant in lieu of refund of TDS. Searches were conducted at the premises of the accused.

Empanelment of CA/CA Firms for conducting Special Audit

May 13, 2016 13171 Views 0 comment Print

Applications are invited from the CA/CA Firms desirous of being empanelled as Auditors in the Department of Trade & Taxes, Govt. of NCT of Delhi for conducting Special Audit of dealers u/s 58-A of the DVAT Act, 2004. The criteria for selection of CA/CA Firms for preparation of panel of Accountants for conducting Special Audit of dealers u/s 58-A of the DVAT Act,2004 is as given below:-

Govt approves National Intellectual Property Rights Policy

May 13, 2016 1501 Views 0 comment Print

The Union Cabinet yesterday approved the National Intellectual Property Rights (IPR) Policy that will lay the future roadmap for intellectual property in India. The Policy recognises the abundance of creative and innovative energies that flow in India, and the need to tap into and channelise these energies towards a better and brighter future for all.

How to Registrar Liquidator for Income Tax e-Filing

May 13, 2016 11404 Views 0 comment Print

In this article we have discussed who can be registered as Liquidator for income tax e-Filing, Pre-requisites to register as Liquidator, Steps involved in Liquidator Registration, Approval Process of Liquidator and Liquidator Functionalities on e-Filing website.

Sale Value U/s. 50C is to be adopted for deduction U/s. 54F

May 13, 2016 5293 Views 0 comment Print

In this case assessee sold a property at Rs.20 lakhs against circle rate of 89 lakhs and spent more than a crore in construction of new residential property, exemption u/s 54F was claimed but the AO allowed exemption only with reference to 20 lakhs and balance amount was assessed as capital gain.

Non performing Assets (NPA) Management

May 13, 2016 119422 Views 1 comment Print

The concept of NPA is introduced by RBI to reflect a bank’s actual financial health in its balance sheet and as per the recommendations made by the Committee on Financial System (Chairman Shri M. Narasimham). The provisioning should be made on the basis of the classification of assets into different categories.

Notification No. 65/2016-Customs (NT), Dated: May 13, 2016

May 13, 2016 3991 Views 0 comment Print

Notification No. 36/2001–Customs (N.T.), dated the 3rd August, 2001, vide number S. O. 748 (E), dated the 3rd August, 2001 and was last amended vide Notification No. 60/2016-Customs (N.T.), dated the 29th April, 2016, e-published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S. O.1588(E), dated 29th April, 2016.

Examiners to appoint Checkers; Centralised empanelment discontinued: ICAI

May 12, 2016 5272 Views 5 comments Print

The examination process inter alia includes a procedure of having the answer books checked, after evaluation by examiners, by Checkers to ensure that all answers have been evaluated, marks awarded have been carried forward to the cover page of the answer books and that the totalling of marks is correct.

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