It has been brought to our notice that banks are insisting on guardianship certificate from all mentally ill persons. In this regard it is clarified that paragraph 2(iii) of the aforesaid circular is not intended to mandate banks to insist on appointment of a guardian as a matter of routine from every person who is in need of treatment by reason of any mental disorder.
a. A start-up in India with an overseas subsidiary is permitted to open foreign currency account abroad to pool the foreign exchange earnings out of the exports/sales made by the concerned start-up; b. The overseas subsidiary of the start-up is also permitted to pool its receivables arising from the transactions with the residents in India as well as the transactions with the non-residents abroad into the said foreign currency account opened abroad in the name of the start-up;
ITAT Mumbai held in the case of In the case of Lands End Co-operative Housing Society Limited vs ITO, that receipt of transfer fees, Non-occupancy charges and car parking charges are covered by the principle of mutuality.
Central Government hereby makes the following amendment in Notification No. 37/2015- 20 dated 03.02.2016 relating to procedure for export of sesame seeds to the European Union countries:-
All firms/companies engaged in the business of courier activities and having their offices functioning within the National Capital Territory of Delhi, to furnish an online quarterly return of details of transactions of delivering goods having value more than Rupees Ten Thousands at the doorsteps of their clients either individually or at the business places or offices in the format ‘Form CR-II’ enclosed herewith. This shall further be subject to the following conditions:-
Returns in Form GE-II for the first three quarters of the current financial year (i. e. 1st April, 2015 to 30th June, 2015; 1st July, 2015 to 30th September, 2015 and 1st October, 2015 to 31st December, 2015) are required to be filed by 29th February, 2016
NMS cases are pushed under AIMS module for further action by field formations. This module provides a functionality to issue system generated letters to the non-filers.
OPC has only one shareholder/member that give him power to run the business of the company solely on his decision, i.e., OPC gives MONOPOLY IN MANAGEMENT. Although, a maximum number of 15 directors can be appointed in OPC but it’s a benefit as more Directors can run management smoothly, and is not any legal obligation.
CA Surbhi Nahata Earlier with old scheme only some specified services were taxed, but now with the new scheme all the services except negative list of services are taxed. Negative list of services is altogether a new concept put forward in Budget 2012 wherein the services covered in this list is out of the ambit […]
68-NNNN. Option for withdrawal on cessation of employment.- (1) The Central Board, or where so authorised by the Central Board, the Commissioner, or any officer subordinate to him, may, on an application made by a member in such form as may be specified, authorise payment to him from his provident fund account not exceeding his own total contribution including interest thereon up to the date the payment has been authorised on ceasing to be an employee in any establishment to which the Act applies.
