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MBA after CA….?

June 21, 2016 15718 Views 2 comments Print

I am keeping some very practical points here: (a) When you become CA, your age is such that family and society expects you to earn – If you pass all exams in one attempt, then you on average, you will be 22 years old (20-21 years if you have jumped classes or joined school earlier than 3 years) And add 6 months for every additional attempt that you have given.

Notification No. 40/2016-Customs, dated 21st June, 2016

June 21, 2016 3214 Views 0 comment Print

Seeks to further amend notification No. 53/2011-Customs dated 01st July, 2011 so as to provide deeper tariff concessions in respect of specified goods imported from Malaysia under the India-Malaysia Comprehensive Economic Cooperation Agreement (IMCECA) w.e.f. 30.06.2016. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 40/2016-Customs New Delhi, dated the 21st June, 2016 […]

Togo & Chad in list of countries eligible for preferential tariff

June 21, 2016 706 Views 0 comment Print

after serial number 31 and the entries relating thereto, the following serial numbers and entries shall be added

Importance of passing Board Resolutions by Circulation

June 20, 2016 5521 Views 0 comment Print

After the enforcement of Secretarial Standard on meeting of the Board of Directors of a Company [SS-1] w.e.f. 1st July, 2015, importance of passing of Board Resolutions by Circulation, pursuant to provisions of Section 175 of the Companies Act, 2013, has increased manifold, unless it is required by Statute or Articles of Association of the Company or any Contractual obligation to pass the resolution at Board Meeting only or a Board Meeting is mandatorily required to be held as per Section 173.

Radical changes in FDI policy; Most sectors on automatic route

June 20, 2016 1354 Views 0 comment Print

Government has decided to introduce a number of amendments in the FDI Policy. Changes introduced in the policy include increase in sectoral caps, bringing more activities under automatic route and easing of conditionalities for foreign investment.

No Fee for MSME Registration

June 20, 2016 2881 Views 0 comment Print

Ministry of MSME has clarified today, that Udyog Aadhar Memorandum is the only form of registration for MSMEs in India and there is no fee for the registration. This has been clarified in view of some complaints received by the ministry, regarding fee charged by certain agencies for facilitating the registration.

Interest Rates on Small Savings Schemes w.e.f. 01.07.2016 to 30.9.2016

June 20, 2016 6682 Views 0 comment Print

On the basis of the decision of the Government, interest rates for small savings schemes are to be notified on quarterly basis. Accordingly, the rates of interest on various small savings schemes for the second quarter of financial year 2016-17, on the basis of the interest compounding/payment built-in in the schemes, shall be as under:

S. 80IA Initial assessment year means 1st year opted by assessee for deduction

June 20, 2016 3844 Views 0 comment Print

The assessee being eligible had option to start claiming deduction from any of the assessment years within time frame of Ay 2004-2005 to AY 2019-2020. Assessee exercises the option in AY 2008-09. AO made the disallowance by holding that assessment year 2004-05 is the initial AY. ITAT issued order in favour of Assessee.

Offshore supply of equipments not taxable in India

June 20, 2016 4309 Views 0 comment Print

An enterprise of a Contracting State shall not be deemed to have a permanent establishment in the other Contracting State merely because it carries on business in that other State through a broker, general commission agent, or any other agent of an independent status, provided that such persons are acting in the ordinary course of their business.

Interest rates on Small Savings Schemes for 01.07.16 to 30.09.16

June 20, 2016 5932 Views 0 comment Print

On the basis of the decisions of the Government, interest rates for small savings schemes are to be notified on quarterly Accordingly , the rates of interest on various small savings schemes for the second quarter of financial year 2016-17 , on the basis of the interest compounding/payment built-in in the schemes, shall be as under :

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