"15 November 2016" Archive

MCA notifies 4th tranche of Sections under Bankruptcy Code

Notification No. S.O. 3453(E) (15/11/2016)

S.O. 3453(E).— In exercise of the powers conferred by sub-section (3) of section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints the 15th November, 2016 as the date on which the provisions of the following sections of the said Code shall come into force...

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Annual Life Certificate submission date extended upto 15.01.2017

CPAO/Tech/leevan Pramaan/(3)/Vol-VI/2016-17/172 (15/11/2016)

Government of India has decided to extend the time limit for submission of Annual Life Certificates upto 15th January, 2017 for convenience of pensioners/family pensioners....

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Revised procedure of cancellation refund of Rs. 5,000 & above for PRS counter tickets

Commercial Circular No. 64 of 2016 (15/11/2016)

Revision in the procedure of cancellation and refund of value of Rs. 5,000/- and above for the PRS counter tickets booked from 16.11.2016 to 24.11.2016....

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CBDT notifies reporting of cash deposit b/w 09.11.2016 to 30.12.2016

NOTIFICATION No. 104/2016-Income Tax (15/11/2016)

Cash deposits,- (i) exceeding fifty thousand rupees during any one day; or (ii) aggregating to more than two lakh fifty thousand rupees during the period 09th November, 2016 to 30th December, 2016...

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Walnut Helps Crack the Cash Crunch

Launches feature to help find an #ATMwithCash near you Mumbai, November 15, 2016: Walnut, India’s leading personal finance management app, has launched a new feature that allows users to find a working #ATMwithCash, by tracking aggregate ATM withdrawals across India in real time. Having access to cash is vital in situations such as a me...

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Posted Under: Corporate Law |

Banks to use indelible ink to stop multiple withdrawals: DEA

It has come to our notice that some people are coming again & again, banks to use indelible ink to stop multiple withdrawals: DEA secretary...

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Posted Under: Corporate Law |

Black money bank mein deposit “Kar”, Income tax ka “Dar”.

Arjuna (Fictional Character): Krishna,Rs.500 and Rs.1000 notes have ceased to be a valid tender for legal transactions from midnight of 8th November 2016. This has resulted in a huge impact on cash transactions. Its true that pay tax and relax....

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Posted Under: Corporate Law |

DGFT corrects product description in MEIS Schedules

Public Notice No. 44/2015-2020 (15/11/2016)

The product description in the MEIS Schedules has been corrected in line with ITC (HS). Changes in product description are deemed to have been applicable from the initial dates on which the above products were included in the MEIS Schedules...

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Guarantee commission allowable as Revenue expense

Haryana State Road & Bridges Development Corporation Ltd. Vs Commissioner of Income Tax (Punjab and Haryana High Court)

P&H HC held that guarantee commission by itself does not bring into existence any asset of an enduring nature. Therefore, guarantee commission is allowable as revenue expenditure....

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Exemption of fee on National Highways extended till 18.11.2016

government extended suspension of fees on all toll plazas on National Highways across the country till the midnight of 18.11.16. Earlier the exemption had been allowed till the midnight of 11.11.16, and then extended till 14.11.16....

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Posted Under: Corporate Law |