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Archive: 27 March 2017

Posts in 27 March 2017

MGNREGA – Lifeline to millions

March 27, 2017 840 Views 0 comment Print

Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) has come a long way since its inception and has become a lifeline to millions. The Act was notified on 7th September, 2005 to provide minimum of 100 days of guaranteed wage employment in a financial year to every rural household whose adult members volunteer to do unskilled manual work.

Arbitral tribunal has no power to appoint Court Receiver, High Court

March 27, 2017 8094 Views 0 comment Print

The above Court Receivers Report dated 28th December, 2016 (Report) is filed by the Court Receiver, High Court, Bombay, seeking directions on Whether the Registry should accept the matters wherein the Arbitral Tribunal appoints the Court Receiver, High Court, Bombay, as a Receiver for execution of orders passed by it etc.

Formation of 7 new districts in Manipur: Lead Bank Responsibility Assignment

March 27, 2017 687 Views 0 comment Print

The Government of Manipur vide Gazette Notification dated December 14, 2016 has issued a corrigendum rectifying the Sub Divisions of districts Senapati and Kangpokpi as detailed below:-

Hike in Tuition Fee For Installing air conditioning system is illegal

March 27, 2017 1152 Views 0 comment Print

Director of Education has held that 15% additional increase in tuition fee for the session 2015-2016 by the Schools for air conditioning system is illegal and liable to be refunded / adjusted.

Start Up India (New Generation Business)

March 27, 2017 2397 Views 0 comment Print

Startup India is an initiative of the Government of India, which is intended to build a strong eco-system for nurturing innovation and Startups in India that will drive sustainable economic growth and generate employment opportunities for young talent in India.

Benefits and Demerits of GST in Agriculture Sector

March 27, 2017 20106 Views 2 comments Print

The agriculture sector would be exempted from undertaking GST compliances as well. All basic agriculture goods (not processed) which are not chargeable under current VAT Laws would not be charged to tax in GST.

Scholarship paid for pursuing studies abroad is Charitable Expense

March 27, 2017 2340 Views 0 comment Print

Payment of Scholarship by Charitable Trust for pursuing Engineering course from University of California, Los Angeles, USA in accordance with its objects is ‘Charitable Expenditure

Loss of Control in a Subsidiary with Multiple Transactions – Ind-As/ IFRS

March 27, 2017 11508 Views 2 comments Print

Whenever there is a disposal into a subsidiary Investment, one has to look at whether it is a loss of control or it’s a disposal without losing the existing control by its Parent Company.

Transitional Provision- Migration of Existing Taxpayers to GST (Section 142)

March 27, 2017 5364 Views 3 comments Print

Please find below the process of Migration of existing Taxpayers to GST: 1. Creation of User ID & Password on Common Portal The first and foremost step for migration to GST is provisional ID and password as given to the taxpayer by respective State Vat department through dealer’s login.

SEBI revisits and recasts guidelines on scheme of arrangement

March 27, 2017 1767 Views 0 comment Print

SEBI has been constantly revisiting the requirements for compliance and submission of documents to stock exchanges in accordance with the requirement under Listing Agreement/ Listing Regulations.

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