"14 February 2017" Archive - Page 2

Share Application money pending allotment – Ind-As/ IFRS

It is quite common where an entity provides some amounts as Share Application Money for the sake of allotment of such shares in future. The amount in substance will be advance given for such investment and the entity is waiting for the same to be converted into an Equity in future....

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Posted Under: Finance | ,

Freebies given to Doctors by A Pharmaceutical Company: Whether an allowable expenditure?

Dy. CIT Vs. PHL Pharma P Ltd. (ITAT Mumbai)

Expenditure incurred by pharmaceutical companies in respect of physician sample etc. has remained controversial issue. The recent decision of Mumbai ITAT in DCIT vs. PHL Pharma P. Ltd, Mumbai has thrown new light on the issue....

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Bombay HC bans mobile, cameras etc. inside Court Halls

All the parties/litigants and public at large are hereby informed that they shall not take mobile phones, cameras or audio/video recording devices and shall not record anything using them inside the Court Halls....

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Posted Under: Finance |

No proposal to levy 5% service tax on healthcare services

Central Government has clarified that there is NO proposal in the Union Budget 2017-18 to levy 5% Service Tax on Healthcare Services, as reported in certain Social Media circles....

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Posted Under: Finance |

Operation Clean Money gets Overwhelming Response

The Income Tax Department (ITD) had initiated 'Operation Clean Money' on 31st January, 2017 for the e-verification of large cash deposits made during 9th November to 30th December, 2016. Email and SMS were sent to 18 lakh taxpayers for submitting online response on the e-filing portal....

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Posted Under: Finance |

Govt mandate Aadhaar for beneficiaries of ICDS training programme

Notification No. S.O. 415(E) (14/02/2017)

The desirous beneficiaries of ICDS training programme are hereby required to furnish proof of possession of Aadhaar number or undergo Aadhaar authentication....

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Govt fixes / reduces MRP of 40 medicines / Formulations vide 4 Orders

Order No. S.O. 442(E), 443(E), 444(E), 445(E), (14/02/2017)

As per para 24(4) of DPCO 2013, every retailer and dealer shall display price list and the supplementary price list, if any, as furnished by the manufacturer, on a conspicuous part of the premises where he carries on business in a manner so as to be easily accessible to any person wishing to consult the same....

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