"07 January 2018" Archive

Why Electoral Bonds are Necessary

India is the largest democracy in the world.  However, despite strengthening various institutions for the last seven decades, India has not been able to evolve a transparent political funding system.  Elections and political parties are a fundamental feature of Parliamentary democracy....

Read More
Posted Under: Corporate Law |

Amend Section 10(23FB) Tax exemption for AIFs – VCFs- ICAI

Earlier under Section 10(23FB) of Income-tax Act, any income of a Venture Capital Company (VCC) or Venture Capital Fund (VCF) set up to raise funds for investment was exempt from taxation. However, in 2007...

Read More
Posted Under: Corporate Law |

Reintroduce standard deduction for salaried assessees

Provisions similar to that of erstwhile standard deduction may be re-introduced. Simultaneously, the multiple exemptions that are available (with miniscule upper limits) may be done away with....

Read More
Posted Under: Corporate Law |

Provide Tax benefit on Medical reimbursements for retired employees: ICAI

It is suggested that the provisions of section 17 be amended to include retired employees for the tax benefit on medical reimbursements / hospitalization expenditure in approved hospitals....

Read More
Posted Under: Corporate Law |

Delayed Train Status- SMS Service Extended

Indian Railways now provides its Short Messaging Service (SMS) facility regarding the status of trains running late by more than one hour to 1,373 trains including Garib Rath, Duronto, Jan Shatabdi, Suvidha, Humsafar, Superfast & Premium trains For the passenger’s convenience, this free of cost SMS service provides the status of...

Read More
Posted Under: Corporate Law |