The Direct Taxes Committee at its 53rd meeting held on 30th August, 2016, while considering an item `Constitution of a Committee by the Government of India to examine the desirability and feasibility of having a new Financial Year’, decided to request the President, ICAI to constitute a Study Group for examining the desirability and feasibility of having a new financial year
Funds lying with a private Provident Fund Trust where the establishment which was granted exemption/ relaxation, but is lying closed since long and the Trust is running illegally cannot be said to be safe and in the interests of the employees.
Dr. Urjit R. Patel assumed charge as the twenty-fourth Governor of the Reserve Bank of India effective September 4, 2016 after serving as Deputy Governor since January 2013. He was re-appointed as Deputy Governor on January 11, 2016 after completion of his first three-year term of office.
A new chapter in Customs Cooperation between India, Bangladesh, Bhutan and Nepal was opened today (5th September 2016), as a cargo laden truck of Bangladesh of readymade garments, imported by Marks and Spencer India, rolled into Customs Inland Container Depot, Patparganj, Delhi
These rules may be called Investor Education and Protection Fund Authority (Appointment of Chairperson and Members, holding of meetings and provision for offices and officers) Amendment Rules, 2016.
Any amount required to be credited by the companies to the Fund as provided under clause (a) to (n) of sub-section (2) of section 125 of the Act shall be remitted into the specified branches of Punjab National Bank,
Whether the internet broadcasting companies come under the purview of Statutory Licensing as per provisions of section 31D of the Copyright Act, 1957.
In order to carry business activities we need cash. It is required to purchase raw material, to pay for transportation, to pay for the numerous activities which are essential to run the business. Similarly, many a times the cash is received for the goods sold or services rendered
High Court of Gujarat ruled that service tax paid on the commission of the commission agent is not an input service and as such credit of tax paid cannot be availed. The judgment was received by the revenue with much gusto. The demands for credit reversal were raised PAN India on the basis of this judgment and conveniently contrary judgment on the subject were ignored or overlooked.
Though during the investigation the statement can be recorded as per section 14 of the Central Excise Act, 1944, but in the entire scheme of the act and rules there is no mention of retracted statement and the same are sometimes clarified in judicial pronouncements
