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Archive: 06 March 2017

Posts in 06 March 2017

Avoid Identity Theft; Learn How to Recognize Phishing Scam

March 6, 2017 1197 Views 0 comment Print

Each day, people fall victim to phishing scams through emails, texts or phone calls and mistakenly turn over important data. In turn, cybercriminals try to use that data to file fraudulent tax returns or commit other crimes.

Aadhaar mandatory for Benefits under Bonded Labour Rehabilitation Scheme with relaxation

March 6, 2017 711 Views 0 comment Print

An individual eligible to receive the benefits under the Bonded Labour Rehabilitation Scheme hereby, is required to furnish proof of possession of Aadhaar number or undergo Aadhaar authentication.

Prosecution for offences punishable under Customs Act, 1962

March 6, 2017 5109 Views 0 comment Print

Reportedly, one of the factors leading to delays in launching of prosecution is lack of clarity regarding the role of Directorate General of Revenue Intelligence (DGRI) vis-а-vis Customs field formations as to who should submit the investigation report and who should launch prosecution.

Classification of Selfie Sticks with or without Bluetooth

March 6, 2017 2133 Views 0 comment Print

The Conference of Chief Commissioners of Customs and Director Generals (03 January, 2017, New Delhi) on Customs Tariff and Allied Matters had deliberated the classification of Selfie Stick with Bluetooth. It was decided that the classification of the said item would be examined in the Board.

RBI Instruction on Reporting Banks on Gold Monetisation Scheme transactions

March 6, 2017 768 Views 0 comment Print

In order to have uniformity in reporting, reconciliation and accounting, agency banks may report the Gold Monetisation Scheme transactions i.e., receipt, payment, penalty, interest, commission for mobilisation, handing charges, etc., directly through the government account maintained for the purpose at Central Accounts Section, Reserve Bank of India, Nagpur, on a daily basis as in the case of the transactions of Public Provident Fund (PPF) Scheme, 1968. You may, therefore, approach our Central Accounts Section, Reserve Bank of India, Nagpur for necessary arrangements to report Gold Monetisation Scheme transactions with immediate effect.

Govt mandates Aadhaar for LPG Connection & Cylinder Subsidy

March 6, 2017 1326 Views 0 comment Print

Pradhan Mantri Ujjwala Yojana ( PMUY) aims to safeguard the health of women and children by providing them with a clean cooking fuel – Liquefied Petroleum Gas (LPG), so that they don’t have to compromise their health in smoky kitchens or wander in unsafe areas collecting firewood.

SEBI (Payment of Fees and Mode of Payment) (Amendment) Regulations, 2017

March 6, 2017 2688 Views 0 comment Print

These Regulations may be called the Securities and Exchange Board of India (Payment of Fees and Mode of Payment) (Amendment) Regulations, 2017.

Applicability of GST in Nov., 2017 CA Intermediate (IPC) Examinations

March 6, 2017 1491 Views 0 comment Print

Students appearing in November, 2017 Intermediate (IPC) Examination may note that Goods and Services Tax (GST) will not be examined in Part II: Indirect Taxes of Paper 4: Taxation. Therefore, students are advised to start studying the existing indirect tax laws as covered in the syllabus of Part II of this paper and not postpone their studies.

ICICI Bank recent issued Dollar Bonds (Equity or Liability?)-Ind-As/ IFRS

March 6, 2017 2436 Views 1 comment Print

Those who keep an eye on latest trends over fund raising by Indian entities, they would have noticed that recently ICICI bank has initiated a Dollar Bond issue through its Dubai branch.

Section 269ST- Restriction on cash transactions -Certain concerns to be addressed

March 6, 2017 39468 Views 4 comments Print

In order to achieve the mission of the Government to move towards a less cash economy to reduce generation and circulation of black money, the Finance Bill 2017 proposes to insert section 269ST in the Act to provide that no person shall receive an amount of three lakh rupees or more

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