"13 February 2017" Archive - Page 2

3Q DVAT return due date extended to 28/02/2017

Circular No. 23 of 2016-17 13/02/2017

I, H. Rajesh Prasad, Commissioner, Value Added Tax, do hereby extend the last date of filing of online/hard copy of third quarter return for the year 2016-17, in Form DVAT-16 ,DVAT-17 and DVAT-48 along with required annexure/enclosures to 28/02/2017....

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Draft on IRDAI (Relaxations under Appointed Actuary Regulations 2017 and appointment of Mentors) Guidelines, 2017

Ref: IRDA/ACTL/REGN/2016-17 13/02/2017

The Authority had issued “Guidelines on Appointment of Appointed Actuaries and their Mentors” on 22nd March 2016 to address the supply side gap by supporting young Actuaries with the Mentors. Based on experience and the issues emerged over a period of time, the Authority has proposed to revise the above-mentioned guidelines....

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Section 68 cast onus on assessee to explain source of source of share subscription

Royal Rich Developers Pvt. Ltd vs. DCIT (ITAT Mumbai)

Onus is on the assessee company to bring on record the cogent evidences to prove the identity and creditworthiness of the share subscribers and genuineness of the transaction which in the instant case the assessee is not able to prove the same as per the facts emerging from the records and material before us as […]...

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Exposure Draft on IRDAI (Appointed Actuary) Regulations, 2017

Ref: IRDA/ACTL/REGN/2016-17 13/02/2017

Based on the experience gained, since the last amendment effected in the year 2013, the Authority felt that there is a need to amend the IRDA (Appointed Actuary), Regulations, 2000. The basic framework for appointment of Appointed Actuaries and their duties, functions etc. is prescribed in the aforementioned Regulations....

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Government slashes Stent prices by 85%

Order No. S.O. 412(E) 13/02/2017

Core Committee which examined the issues relating to the essentiality of Coronary Stents in its report to the Government in April 2016 observed that there is very high incidence of coronary artery disease (CAD) in India associated with high morbidity and mortality; and that CAD has become a major public health problem; and that Percutane...

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Penalty cannot be imposed in respect of income surrendered without linking to incriminating documents

M. G. Contractors Pvt. Ltd Vs DCIT (ITAT Delhi)

In all these appeals preferred by the assessee, the action of the Learned CIT(Appeals) in sustaining the penalty levied under sec. 271(1)(c) of the Income-tax Act, 1961 at Rs.8,53,281 in assessment year 2006-07, Rs.73,54,710 in assessment year 2007-08, Rs.6,81 ,61 5 in assessment year 2008-09, Rs.49,48,020 in assessment year 2009-10 and R...

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Specified Bank Notes– Chest Balance / Cash Holding Limit

DCM (Plg) No.3217/10.27.00/2016-17-RBI 13/02/2017

As indicated thereat, a review was undertaken and it has been decided that till further instructions SBNs deposited in the currency chests, since November 10, 2016, will be considered as part of the chest balance in the soiled note category but such deposits will not be reckoned for calculating Chest Balance Limit / Cash Holding Limit....

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Corrigendum to Service Tax Notification No. 48/2016 dated 09.11.2016

G.S.R. 125(E) 13/02/2017

At page 26, in line 3, for Currency in which value of taxable service charged read Currency in which value of taxable service charged and the exchange rate of currency taken in Rs...

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Comprehensive Analysis of Direct Tax Proposals in Budget 2017

In this article an attempt has been made to peep into scope of some important direct tax proposals contained in Budget 2017 as under...

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A traditional perspective: Why Indians work long hours?

It was found that Indians work for 8.1 hours every day, more than the average figure for the entire developed world and individual countries like the UK, Australia, France, Italy and Germany....

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