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Archive: 24 November 2016

Posts in 24 November 2016

CBDT Signs Four Unilateral Advance Pricing Agreements

November 24, 2016 1069 Views 0 comment Print

CBDT Signs Four Unilateral Advance Pricing Agreements pertaining to various sectors of the economy including pharmaceuticals, Information Technology and Construction.

India revises DTAA with New Zealand for Info exchange & Tax Collection Assistance

November 24, 2016 2752 Views 0 comment Print

Cabinet approves Convention between India and New Zealand for avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income

No Service Charge on internet booking of Railway tickets via IRCTC

November 24, 2016 1090 Views 0 comment Print

In order to help passengers and incentivise the payment through credit/debit/cash cards instead of cash payment for booking of reserved tickets, Service Charge shall not be collected on booking of e-tickets/ i-tickets from 23rd November to 31st December, 2016.

Bank to maintain adequate Cash for pensioners & Armed Forces

November 24, 2016 5383 Views 3 comments Print

Banks are therefore advised to take appropriate steps in order to meet this likely demand for cash by: (i) for pensioners (ii) for Armed Forces personnel.

Demonetisation: CG exceeded its powers under RBI Act!

November 24, 2016 10123 Views 8 comments Print

Demonetisation: Article discusses do Central Government exceeded its powers under RBI Act by allowing hospitals, petrol pumps, etc to accept invalid notes?

Govt stops note exchange at bank counter from midnight of 24.11.2016

November 24, 2016 3349 Views 0 comment Print

No over the counter exchange (in cash) of SBNs will be permitted after midnight of November 24, 2016.Members of public who approach the banks for over the counter exchange of SBN may be encouraged to deposit SBNs into their bank accounts.

Transactions for which payment in old Rs. 500 notes valid till 15.12.2016

November 24, 2016 58582 Views 4 comments Print

We have updated list of transaction wherein payment could be made through old Rs. 500 and Rs. 1000 notes after considering amendments on 24.11.2016.

Special knowledge or practical experience useful to banking companies

November 24, 2016 1411 Views 0 comment Print

It is felt that the domain knowledge and experience enumerated under various statutory provisions for the directors on the boards of commercial banks (excluding RRBs) need to be augmented by knowledge and experience in other specialized areas

IND-as Implementation Practicle Approach

November 24, 2016 5938 Views 0 comment Print

As you all are aware that on 16 Feb 2015, the Ministry of Corporate Affairs (MCA) notified the Companies (Indian Accounting Standards) Rules, 2015 laying down roadmap for the application of IFRS converged standards (Ind-AS) to Companies on 30 March 2016, the notified the Companies (Indian Accounting Standards Amendments ) Rules 2016.

Provision for Supply of Goods to Job Worker under GST Law

November 24, 2016 3010 Views 0 comment Print

One need to understand definition of Job work under GST law first to easily understand provision relating to supply of goods to job worker.

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