"10 January 2017" Archive

ICAI releases Exposure Draft of Ind AS Taxonomy for Comments

As per the roadmap issued by the Ministry of Corporate Affairs (MCA) in February 2015, certain class of companies have to prepare their financial statements as per Indian Accounting Standards (Ind AS) which are converged with International Financial Reporting Standards (IFRS) w.e.f F.Y. 2016-17. MCA has also notified Ind AS compliant form...

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Posted Under: Company Law |

Documents to be submitted in case of delay in submission Forms with ICAI

Documents to be submitted in case of delay in submission Forms with ICAI Beyond 30 days and upto one year (i) Original deed of agreement executed in form 102 (ii) Work diary / attendance record (iii) Stipend proof (Pass Book/Bank Statement)...

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Posted Under: Company Law |

IRS (Income Tax) officers seek MoS Dr Jitendra Singh’s intervention

A delegation of Indian Revenue Service/IRS (Income Tax) officers of 2008 batch called on the Union Minister of State (Independent Charge) for Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh here today. The delegation sought Dr Jitendra Singh’s inter...

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Posted Under: Company Law |

Direct Tax Collections up to December, 2016 show Growth of 12.01 %

The figures for Direct Tax collections up to December, 2016 show that revenue net of refunds is Rs. 5.53 lakh crore which is 12.01% more than the net collections for the corresponding period last year. This collection is 65.3% of the total Budget Estimates of Direct Taxes for Financial Year 20 16-17....

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Posted Under: Company Law |

Income Tax Dept receives Award for e-filing of Income Tax Returns project

The Income Tax Department as been conferred Silver Award in National Awards on e-Governance-2016-17 for e‑filing of Income Tax returns and other forms project in category Incremental Innovations in existing projects....

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Posted Under: Company Law |

What to check before making deposits with NBFCs & FAQ

(11/03/2016)

The Reserve Bank of India has issued an advisory to members of public urging them to carefully evaluate their investment decisions, including making deposit with NBFCs. The advisory is part of the Frequently Asked Questions (FAQs) issued by the central bank. The FAQs explain in detail the various kinds of financial entities and the regula...

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Posted Under: Company Law |

Technology Policing in Goods & Services Tax (GST)

All of us have heard of movement forms introduced by most of the states of India to check movement of goods evading duty. The rules providing for such forms provide that any goods not accompanying such form will be deemed to be without payment of tax. ...

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Posted Under: Company Law |

New design of PAN card with effect from January 1, 2017

Circular No. NSDL/TIN/12017/001 (10/01/2017)

All TEN-FCs & PAN Centres are hereby informed that the Income Tax Department (ETD) has prescribed certain changes in the existing design of the PAN Card_ Accordingly. with effect from January 1, 21:117, PAN cards are being printed as per the new design specifications approved by ITD....

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Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Amendment) Regulations, 2017

Notification No. FEMA. 383/2017-RB (10/01/2017)

These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Amendment) Regulations, 2017....

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FEM (Transfer or Issue of Security by a Person Resident outside India) 15th Amendment) Regulations, 2016

Notification No. FEMA. 377/2016-RB (10/01/2017)

These Regulations may be called Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Fifteenth Amendment) Regulations, 2016....

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