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Archive: 29 June 2016

Posts in 29 June 2016

Clarification on Validity & Renewal of Registration under FCRA, 2010

June 29, 2016 1519 Views 0 comment Print

As notified vide order dated 29 March, 2016, the validity of the registration certificates of all associations whose registration certificates are expiring on or before 30th September, 2016 was extended upto 31st October, 2016. Time for applying for renewal of registration certificate of such applicants was also extended upto 30th June, 2016.

Highlights of recommendations of 7th Central Pay Commission

June 29, 2016 5515 Views 0 comment Print

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the implementation of the recommendations of 7th Central Pay Commission (CPC) on pay and pensionary benefits. It will come into effect from 01.01.2016.

Criteria for listing of matters before National Company Law Tribunal

June 29, 2016 2779 Views 0 comment Print

Consequent to the notification no. S.O. 1935 (E) dated 1.6.2016 issued by the Central Government, Ministry of Company Affairs following criteria has been laid down for listing of the matters before the National Company Law Tribunal, Principal Bench and National Company Law Tribunal, New Delhi Bench.

Amendment in rules for acceptance of Deposit by Companies

June 29, 2016 6157 Views 0 comment Print

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] Government of India Ministry of Corporate Affairs Notification. New Delhi, dated, the 29th June, 2016 G.S.R. 639(E). – In exercise of the powers conferred by sections 73 and 76 read with sub­section (1) of section 469 of the Companies Act, […]

ICAI President's Message July 2016

June 29, 2016 2266 Views 0 comment Print

I wish all of you a very happy CA Day. All arrangements have been made to celebrate the legacy of the Indian accountancy profession with great enthusiasm in the form of flag hoisting and events that enhance and impart knowledge to the professional fraternity. Indian accountancy profession that had started its journey with a vision has been living up to the expectations of our nation.

Clarification regarding grandfathering of ODI issuers

June 29, 2016 1069 Views 0 comment Print

ODIs have been issued to unregulated funds under the FII Regulations. Whether these ODI positions can continue under the FPI regime? Whether the existing ODI subscribers can continue to subscribe to ODIs?

Highlights of draft Model Shops and Establishments Bill, 2016

June 29, 2016 3721 Views 0 comment Print

• It will cover only establishments employing ten or more workers except manufacturing units. • The Bill provides for freedom to operate 365 days in a year and opening/closing time of establishment. • Women to be permitted during night shift, if the provision of shelter, rest room ladies toilet, adequate protection of their dignity and transportation etc. exists.

Survey claims Attitudinal change in CBEC senior functionaries

June 29, 2016 916 Views 0 comment Print

Tax payers Survey got conducted by Central Board of Excise & Customs (CBEC) for garnering a feedback on impact that reforms undertaken during the last two years; Responses showed that 45% of the respondents saw an attitudinal change in senior functionaries (Commissioner level and above); and 51% acknowledged an improvement at the ground level, at the level of inspectors and above .

Procedure to authorise for export to Iran of specified items in SCOMET list

June 29, 2016 1054 Views 0 comment Print

Authorization for export of items in Categories 0, 3 (other than 3D), 4, 5 and 7 of the SCOMET list to Iran would be subject to the relevant provisions contained in Annex B to the UN Security Council resolution 2231 (2015). The licensing authority, i.e. DGFT or Department of Atomic Energy

Validity of SCN issued by Preventive, DGDRI & DGCEI officers: Reg

June 29, 2016 3955 Views 0 comment Print

Amendment in Section 28 (11) of the Customs Act, 1962 was brought out by the Government, after the decision of Supreme Court in Commissioner of Customs vs Sayed Ali (2011) 3 SCC 537, wherein it was held that Customs Preventive Officers are not proper officers to issue Show Cause Notice u/ s 28 of Customs Act, 1962.

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June 2016