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HUF cannot be a partner in a partnership firm

May 27, 2016 20569 Views 0 comment Print

In view of above, it is clear that HUF cannot be a partner but its Karta or any individual of HUF can be a partner in a partnership firm in its individual capacity and not the HUF.

Anti-dumping duty on import of Coumarin from China

May 27, 2016 1021 Views 0 comment Print

Seeks to impose anti-dumping duty on Coumarin of all types Tariff Item 2932 20 10 , originating in or exported from People s Republic of China, for a period of five years (unless revoked, superseded or amended earlier)

No mandatory Trust registration cancellation u/s 12AA for Turnover

May 27, 2016 4435 Views 0 comment Print

It is clarified that it shall not be mandatory to cancel the registration already granted u/s 12AA to a charitable institution merely on the ground that the cut-off specified in the proviso to section 2(15) of the Act is exceeded in a particular year without there being any change in the nature of activities of the institution

SEBI mandates disclosure of Audit Qualification Impact by listed entities

May 27, 2016 3415 Views 0 comment Print

SEBI decides to make the listed entities disseminate the cumulative impact of all the audit qualifications in a separate format, simultaneously, while submitting the annual audited financial results to the stock exchanges. This will ensure that the information is available to the investors, without delay, enabling them to take well informed investment decisions;

Delhi VAT: Govt withdraws Delhi Sugam -1 (DS-1)

May 27, 2016 2347 Views 0 comment Print

Form Delhi Sugam-1 (DS1), in exercise of the powers conferred under section 70 of the Delhi Value Added Tax Act, 2004, for furnishing the details in respect of any commodities/goods to be moved from Delhi to any place outside the territory of Delhi on account of sale, stock transfer or due to whatsoever reason, by all the registered dealers of Delhi before the actual movement of such goods occurs.

Notification No. 36/2016-Income Tax, Dated: 27.05.2016

May 27, 2016 2680 Views 0 comment Print

S.O. It is hereby notified for general information that the organization M/s G.B. Pant Institute of Himalayan Environment and Development, New Delhi (PAN-AAAAG3515F) has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act 1961

ATMs – Security and Risk Mitigation Measures for Card Present (CP) Transactions

May 26, 2016 1477 Views 0 comment Print

Reserve Bank of India RBI/2015-2016/413 DPSS.CO.PD.No./2895/02.10.002/2015-2016 May 26, 2016 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/ Authorised ATM Network Operators / Card Payment Network Operators/White Label ATM Operators Madam / Sir, ATMs – Security […]

Withdrawal of duty exemption on export of Chromium ores & concentrates, all sorts

May 26, 2016 673 Views 0 comment Print

makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 27/2011-Customs, dated the 1st March, 2011, published in the Gazette of India, Extraordinary, vide number G.S.R. 153(E), dated the 1st March, 2011

Reg. channeling transactions through Asian Clearing Union

May 26, 2016 646 Views 0 comment Print

It has been decided to revise the minimum amount and the multiples in which Reserve Bank will receive and pay for the purpose of funding or for repatriating the excess liquidity in the ACU Dollar and ACU Euro accounts to $ 500 / € 500.

All about Pledging of Shares

May 26, 2016 94489 Views 0 comment Print

Pledging of shares in order to avail the loan is neither a new concept for promoters nor for investors. In brief, when the promoters want to raise the funds for the personal or the company’s needs, they pledge their shares with the financial or non-financial institution.

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