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Archive: 06 December 2016

Posts in 06 December 2016

Analysis of CBDT instruction on seizure of jewellery

December 6, 2016 48028 Views 6 comments Print

A deep dive into the CBDT Instruction No. 1916 dated 11th May, 1994 in the matter of seizure of jewellery- Intention of CBDT is that jewellery to the extent of 500 gms in case of a married lady, 250 gms per unmarried lady and 100 gms per male member should be treated as explained and need not be considered as unexplained investments.

SC judgment on Annual Value of let out portion of palace of Ex-Ruler

December 6, 2016 4711 Views 1 comment Print

IT: Where Ruler continues to occupy palace, whether by actually utilizing it or by keeping it vacant, it shall be, for purpose of section 10(19A), deemed to be in his occupation, and he will also be entitled to exemption under section 10(19A) in respect of annual value of Part of palace, possession of which he has parted with in favour of tenants.

Post Incorporation Compliance of Company

December 6, 2016 8941 Views 2 comments Print

*The company shall held its first board meeting within 30 days of its incorporation*Verification of registered to be done by Filing INC-22 within 30 days of its incorporation if Company is incorporated other than SPice route.

No denial of Government scholarships for not having Aadhaar Card

December 6, 2016 958 Views 0 comment Print

The scholarship is not being denied on the grounds that the beneficiary does not possess Aadhaar. In the absence of Aadhaar, copy of request made for Aadhaar enrolment or photo identity card, bank passbook etc., can be used as an identifier till the Aadhaar number is obtained by the beneficiary.

Steps by Govt to save Workers from fraud of Hiring Agencies

December 6, 2016 976 Views 0 comment Print

A well-established Central Industrial Relations Machinery (CIRM) is in place to enforce various labour laws in Central Sphere including the Contract Labour (Regulation & Abolition) Act, 1970.

14 Salient Features of Draft Inland Vessels Bill, 2016

December 6, 2016 922 Views 0 comment Print

The following are the salient features of the draft Inland Vessels Bill, 2016 The Draft Inland Vessels Bill, 2016 covers the Preamble and has 16 parts i.e. Part I to Part XVI. The salient features are:

DGS&D to host online Government e-Marketplace

December 6, 2016 997 Views 0 comment Print

Government inserted Rule 141 in General Financial Rules (GFR), 2005, which provides that Directorate General of Supplies & Disposal (DGS&D) will host an online e-Marketplace for common use goods and services

Measures taken by govt to diversify & boost exports from India

December 6, 2016 1309 Views 0 comment Print

The Government has taken various measures to diversify and boost exports from India, which includes; (i) Merchandise Exports from India Scheme (MEIS) was included under Foreign Trade Policy (FTP) 2015-20 w.e.f. April 1, 2015

PF collected but not deposited- 6 Actions that can be taken

December 6, 2016 79393 Views 33 comments Print

Government is aware that some establishments/companies have not submitted/deposited funds collected by them towards employees contribution in provident fund accounts

Why you must have active Debit Card – FAQs

December 6, 2016 1609 Views 0 comment Print

Debit Card makes your payments much more convenient and secure through an electronic payment facility directly from your bank account. Debit card can be used for purchases online or at shops by directly debiting your Bank account. Debit cards can also be used to withdraw cash from an ATM.

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