"28 July 2016" Archive

Process for trademarks made fully automated

Public Notice No. CG/Public Notice-/2016-17/TMR/ 28/07/2016

The process relating to generation & issuance of registration certificates for applications made for registration of trademarks has been fully automated. Accordingly, from 1st august 2016 the registration certificates will be generated through an automated system in accordance with the relevant provisions of the Trade Marks Act & Rules an...

ICAI President's Message August 2016

Income Declaration Scheme, 2016—An Opportunity to Pay Tax and Come Clean : Hon'ble Union Finance Minister Shri Arun Jaitley recently voiced his concerns at three of the ICAI platforms, complimenting the ICAI for its role in disseminating and propagating the Income Declaration Scheme, 2016 not only amongst our members but also among busi...

Posted Under: Corporate Law |

Surplus investment in mutual funds cannot render principle of Mutuality inapplicable

CIT-3 Vs. M/s. Air Cargo Agents Association of India (Bombay high Court)

The Hon’ble Bombay High Court in the above cited case held that merely because a part of surplus was invested in mutual funds it cannot mean that it would render the principle of mutuality inapplicable more so when the invested money has to be utilized for the furtherance of association’s objectives...

GST Update – Cabinet Approval & Current Status

Note that, Once GST Constitutional Amendment bill is passed, it will give power to center to frame the GST Act and pass it through parliamentary Process. This constitutional amendment bill is just giving power for Birth of GST Law....

Posted Under: Corporate Law |

What you need to do, before booking a flat?

What factors do you look for, while comparing properties? Without any doubt, the property’s location, price and possession, will be the first and foremost parameters one might consider for his/her short listing. However, apart from these primary ones, a few more things are necessary to check before finalizing upon a deal....

Posted Under: Corporate Law |

Govt appoints Judicial and Technical Members in NCLT

S.O. 2563(E) 28/07/2016

Central Government hereby appoints following persons as Judicial and Technical Members in the National Company Law Tribunal in the pay scale of Rs. 67000-79000/- with effect from the dates mentioned against each for a period of five years or till he attains the age of sixty five years, whichever is earlier:-...

Notional rent payable if assessee owns more than 1 property

Susham Singla Vs CIT (Punjab and Haryana High Court)

Annual value of properties like the ones in case in hand which are more than one, owned by assessee and which admittedly remained vacant throughout the previous year would not be assessed U/s. 23(1)(c) but under Section 23(1)(a). The annual value would, therefore, be determined notionally ...

Priority Sector Lending –Bank loans to MFIs for on-lending -Revised loan limit

RBI/2016-17/27 FIDD.CO.Plan.BC.No.8/04.09.001/2016-17 28/07/2016

The limit of the loans extended by Non-Banking Financial Company- Micro Finance Institutions (NBFC-MFIs) for which the tenure of the loan shall not be less than 24 months, has been raised to ₹ 30,000/- from the earlier limit of ₹ 15,000/-....

Retail Participation by Demat Account Holders in Government Securities

RBI/2016-17/30 Ref No. FMRD.DIRD.3/14.03.07/2016-17 28/07/2016

As announced in the First Bi-monthly Monetary Policy Statement, 2015-16, an Implementation Group with representation from all the stakeholders was constituted to recommend specific measures to enable seamless movement of securities from Subsidiary General Ledger (SGL) form to demat form and vice versa and to provide demat account holders ...

Delhi VAT: Extension of date for Filing of online return for Q1 of 2016-17

Circular No. 11 of 2016-17 28/07/2016

the powers conferred under Rule 49A of the Delhi Value Added Tax Rules, 2005, I, S.S.Yadav, Commissioner, Value Added Tax, do hereby extend the last date of filing of online/hard copy of first quarter return for the year 2016-17, in Form DVAT-16, DVAT-17 and DVAT-48 along with required annexure/enclosures to 31/08/2016....

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