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Archive: 21 July 2016

Posts in 21 July 2016

National Company Law Appellate Tribunal Rules, 2016

July 21, 2016 43130 Views 0 comment Print

1. Short title and commencement.- (1) These rules may be called the National Company Law Appellate Tribunal Rules, 2016. (2)They shall come into force on the date of their publication in the Official Gazette.

5 questions to ask before timing the market to achieve huge returns

July 21, 2016 26249 Views 0 comment Print

I want to exit my mutual fund to invest on real estate, one of my client rushed and told me in a confused tone. I asked him why he wanted to exit mutual fund. He is not happy about the mutual fund which is not doing great in the recent times whereas the real estate is doing great. I could see that he is timing the market, I made him sit and advised him not to exit mutual fund.

7 reasons why you should invest in a Fixed Deposit

July 21, 2016 33321 Views 0 comment Print

If you have a surplus of funds in your hands, parking them in your regular savings account is not a good idea for the long term, as the return on investment (ROI) will be very low. Instead, you can consider options like shares, Mutual Funds and other such schemes

Reg. Classification of Glyphosate Isopropyl amine

July 21, 2016 20973 Views 0 comment Print

Representations have been received from the members of the trade requesting clarification regarding Glyphosate Isopropyl amine (Glyphosate 360 Acid) which was placed under the category of Plant Growth Retardant in the annexure to the circular at Table 1 in the opinion received from IARI.

Accumulated Repairs Expense on Rented Premises-Deduction Allowable?

July 21, 2016 29159 Views 0 comment Print

The term repairs generally means restoring a thing into a good condition.Etymologically, the word “repair” is derived from O. F. reparer which in its turn is derived from L re (repairer i. e. again to make ready). Repair is a comprehensive word which means “to make good defects” and which therefore must include renewal where that is necessary (Inguis vs. Buttery 3 App. Cas. 552).

Tax Deduction in foreign earning calculation for SFIS/SEIS Schemes

July 21, 2016 20663 Views 0 comment Print

Deduction of State /Central Taxes collected from the customers while calculating foreign earnings for SFIS/SEIS Schemes- The State/ Central taxes payable by the Customer to Governments are collected from the Customer by the Service Provider on behalf of the Governments concerned. Hence, such taxes arc not earnings of the service provider, as per the above provisions.

Equalization Levy- Challan No.ITNS 285 for making Payment

July 21, 2016 36981 Views 0 comment Print

Rules to The Finance Act, 2016 states that with effect from July 1, 2016, equalization levy @ 6% should be deducted by a resident or non-resident (having permanent establishment in India) on the amount of consideration paid or payable to the non-resident not having permanent establishment in India.

Income Declaration Scheme, 2016- Payment Challan No. 286

July 21, 2016 77528 Views 7 comments Print

The Income Declaration Scheme, 2016 is a part of the Finance Act, 2016. This scheme provides an opportunity to persons who have not paid taxes in full for previous years to declare their undisclosed income for such previous years and pay taxes thereon. The said tax payment has to be made to the Government Account using INCOME DECLARATION SCHEME, 2016 CHALLAN (Challan No./ITNS 286).

Rate of exchange of foreign currency conversion WEF 22.07.2016

July 21, 2016 20490 Views 0 comment Print

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF EXCISE AND CUSTOMS) Notification No.102/2016-Customs (N.T.) New Delhi, dated: 21st July, 2016 In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs […]

Basel III Framework on Liquidity Standards

July 21, 2016 20821 Views 0 comment Print

It has been decided that, in addition to the above-mentioned assets, banks will be permitted to reckon government securities held by them up to another 1 per cent of their NDTL under FALLCR within the mandatory SLR requirement as level 1 HQLA for the purpose of computing their LCR.

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