"27 September 2017" Archive - Page 3

Review of norms for participation in derivatives by Mutual Funds

SEBI/HO/IMD/DF2/CIR/P/2017/109 27/09/2017

To reduce interest rate risk in a debt portfolio, mutual funds may hedge the portfolio or part of the portfolio (including one or more securities) on weighted average modified duration basis by using Interest Rate Futures (IRFs)....

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MGST: Reverse charge on services provided by Individual Advocate

No. MGST- 1017/C.R. 171 /Taxation-1. 27/09/2017

No. MGST- 1017/C.R. 171 /Taxation-1.Services supplied by an individual advocate including a senior advocate by way of representational services before any court, tribunal or authority, directly or indirectly, ...

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Presidential Award of Appreciation Certificates to be announced on Republic Day, 2018- Reg

F.No. 394/97/2017-Cus (AS) 27/09/2017

F.No. 394/97/2017-Cus (AS) Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs (Anti-Smuggling Unit) ***** 512, Hudco Vishala Building, Bhikaji Cama Place, R.K. Puram, New Delhi. dated 27.09.2017 To All Principal Chief/Chief Commissioners of Customs/ Customs (Preventive), All Principal Chief...

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Buy-Back of Shares By Private & Unlisted Public Companies

Buy-Back of shares generally meant to a situation in which a company purchases its own shares from the existing shareholders usually at a price which is higher than the market price of such share. It is a strategy of re-structuring of capital of the company by which excess paid up share capital can be extinguished....

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Posted Under: SEBI |

GST on Custom House Agents

This article discusses in detail about the GST taxability on Custom house Agents. Customs House Agent means a person licensed, temporarily or otherwise, under the regulations made under sub-section (2) of section 146 of the Customs Act,1962 (52 of 1962);...

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Posted Under: SEBI |

Normal Vs Composition Scheme under GST

While conceptualizing concept of GST, a 3600 view of business and economy was considered specially the nature of business and requirements of almost five crore Micro, Small and Medium Enterprises (MSMEs) and small traders who account for 25% of employment, 40% of industrial output and 45% of exports of the country. To boosting the cost ...

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Posted Under: SEBI |

Revenue cannot tax Both On Money and expenditure out of it as same amounts to double addition

The Commissioner of Income Tax Vs. M/s. Golani Brothers (Bombay High Court)

If the unaccounted expenditure incurred is from the on money received by the assessee, then, the question of making any addition u/s 69C does not arise because the source of the expenditure is duly explained. It is only the 'on money' which can be considered for the purpose of taxation. ...

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TDS not deductible on commission paid outside India for promotion of export sales outside India

Divya Creation Vs ACIT (ITAT Delhi)

Facts of the case, in brief, are that the assessee is a partnership firm engaged in the business of manufacturing and export of plain and studded Gold and Silver jewellery. It filed its return of income on 29.09.2010 declaring taxable income of Rs.2,83,03,490/-. During the course of assessment proceedings, the Assessing Officer observed t...

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