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Archive: 29 June 2018

Posts in 29 June 2018

SEBI Circular on Filing of Term Sheet by Angel Funds.

June 29, 2018 2337 Views 0 comment Print

Pursuant to the aforesaid amendment of AIF regulations, it is specified that: 2. 1 angel funds may now launch schemes subject to filing of a Term Sheet in the format as specified in Annexure II; 2.2 such Term Sheet shall contain material information regarding the scheme; and 2.3 such Term Sheet shall be filed with the Board within ten days of launching the scheme.

Analysis of Draft Notification on foreign company resident in India U/s. 115JH

June 29, 2018 1950 Views 0 comment Print

Draft Notification of exception, modification and adaptation in respect of foreign company said to be resident in India under section 115JH of the Act The Central Board of Direct Taxes (CBDT) on June 15, 2017 issued a Draft Notification (notification) vide F No. 370142/19/2017-TPL for exception, modification and adaptation in respect of foreign company said […]

Tariff Notification No. 58/2018 -Customs (N.T.) dated 29th June, 2018

June 29, 2018 2688 Views 0 comment Print

Tariff Notification No. 58/2018 -Customs (N.T.) dated 29th June, 2018 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver

Section 80D Deduction – For health insurance premium paid, etc.

June 29, 2018 15502 Views 0 comment Print

Deduction in respect of for health insurance premia paid, etc. Under Section 80D of the Income Tax Act, 1961 – Aggregate allowable is Rs. 15,000/{For Senior Citizens it is Rs. 20000/-}.

Notice/ order on dead person/ wound-up company is a nullity if department is made aware of the same

June 29, 2018 5106 Views 0 comment Print

This appeal by the assessee is directed against order dated 30/01/2017 passed by the Deputy Commissioner of Income-tax Circle 2(2)(2) (International Tax), New Delhi (in short the Assessing Officer) in pursuant to order of the Ld. Dispute Resolution Panel (DRP) for assessment year 2012-13. The grounds of appeal raised by the assessee are reproduced as under

MGST: Goods which may be disposed off by proper officer after its seizure

June 29, 2018 8898 Views 0 comment Print

Notification No.27/2018-(ST)-Specifying the goods which may be disposed off by the proper officer after its seizure having regard to the perishable or hazardous nature, depreciation in value with the passage of time, constraints of storage space or any other relevant considerations of the said goods.

Maharashtra : No intra state Eway Bill upto Rs. 1 lakh from 1st July

June 29, 2018 230895 Views 20 comments Print

On or after the 1st July 2018, no e-way bill shall be required to be generated for the intra-State movement in the State of Maharashtra if Consignment value of the goods Not exceeding Rs. 1 Lakh

CS held guilty of negligence in issue of Compliance Certificate

June 29, 2018 2424 Views 0 comment Print

Respondent has admitted to have not visited the office of the City group companies but has relied merely on the instructions of one Shri Kaiser Baig rather than verifying the records himself at the office of the company.

Savings vs Investment- Ant or Grasshopper..? Choice is yours..!

June 29, 2018 5520 Views 1 comment Print

We see more Grasshoppers and few Smart Ants. We live in the world which believes ‘Zindgi na milegi Dobara’. We believe that savings can wait, Retirement is too far to think and so on. While we may enjoy like the Grasshopper, we must not ignore the Smart Ant. We should not ignore the bitter truth that a time will come when we wont be able work so hard.

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