"17 November 2016" Archive

Advance CASH Salary of Rs. 10000 to Non‑Gazetted Central Govt employees

No, 25(30)/E.Coord/2016, No. 3(2)/TA/Cash Remittance/2016/606 17/11/2016

President is pleased to release part salary, in advance, amounting to Rs. 10,000/- (Rupees ten thousand) by 23rd November 2016 from the salary for the month of November 2016 in the form of cash pay out to all Non-Gazetted employees of Central Government....

Investment/trading in securities by employees of AMC(s) and Trustees of Mutual Funds

Circulars No. SEBI/HO/IMD/DF2/CIR/P/2016/124 17/11/2016

A. Please refer to SEBI circulars dated May 08, 2001, June 20, 2002, July 11, 2003, December 15, 2009 and May 22, 2014, on the captioned subject. With an objective to bring about alignment of these SEBI circulars providing guidelines for Investment/Trading in Securities by employees of AMC(s) and Trustees with the principles laid down in ...

Govt declares Islamic Research Foundation as an unlawful association

Notification No. S.O. 3460(E) 17/11/2016

In exercise of the powers conferred by sub-section (1) of section 3 of Unlawful Activities (Prevention) Act, 1967 (37 of 1967), Central Government hereby declares Islamic Research Foundation to be an unlawful association;...

Advantage & disadvantage of unrecorded business transactions

Why black money is prevalent in Indian economy in such large scale that Govt has taken extreme step to defunct Rs 500/- and Rs. 1000/- note....

Section 115BBE of Income Tax, 1961 requires Immediate change

Section 115BBE seems to be the biggest loophole in the Income Tax Act, 1961 whereby, any person can evade tax on concealed income of previous years by declaring such accumulated income as income of current financial year and paying tax @ 30%+surcharge+cess thereon (without causing any penalty, interest and prosecution)....

Examining Taxability of Free Supplies Under GST

Free Supplies are goods and services supplies free of cost i.e. nothing in return apparently. They all say free supplies are taxable under GST Act(s) (‘the law’), let us examine the truth behind such statement and the extent of truthiness....

Posted Under: Corporate Law |

MVAT- Settlement Act, 2016-Extension of time limit to 30.11.2016

Maharashtra Ordinance No. XXVII Of 016. 17/11/2016

It has become necessary to give more time to dealers to amicably settle the disputes relating to payment and to facilitate compliance under the said Act, it is proposed to extend the said date upto 30th November 2016....

Amendment in Depreciation schedule of Companies Act

G.S.R. 1075(E) 17/11/2016

For intangible assets, the relevant Indian Accounting Standards (Ind AS) shall apply. Where a company is not required to comply with the Indian Accounting Standards (Ind AS), it shall comply with relevant Accounting Standards under Companies (Accounting Standards) Rules, 2006....

Designation of Special Court at Meghalaya for company law offences

S.O. 3464(E) 17/11/2016

High Court of Meghalaya, hereby designates the following Court as Special Court for the purposes of providing speedy trial of offences punishable with imprisonment of two years or more under the Companies Act, 2013, namely:-...

Entry Tax –Supreme Court Constitutional Bench Judgement Analysis

Jindal Stainless LTD & ANR. Vs State of Haryana & ORS. (Supreme Court of India)

Long pending dispute regarding constitutional validity of entry tax levied by various States has been settled by Hon ‘bless Supreme Court by its judgement delivered on 11.11.2016...

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