Pursuant to Section 131 of the Finance Act, 2015 and Central Government notification F.No. 1/9/SM/2015 dated August 28, 2015, all recognized associations under the Forward Contracts (Regulation) Act, 1952 are deemed to be recognized stock exchanges under the Securities Contracts (Regulation) Act, 1956 with effect from September 28, 2015. This circular applies to National Commodity Derivatives Exchanges (Exchanges) as defined in the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2015.
CIRCULAR No. CIR/MRD/DP/ 20/2015 SEBI vide circular no. CIR/MRD/DP/22/2012 dated August 27, 2012 had introduced the facility of Basic Services Demat Account (BSDA) with limited services for eligible individuals with the objective of achieving wider financial inclusion and to encourage holding of demat accounts.
NOTIFICATION No. 56/2015-Customs In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.39/96-Customs, dated the 23rd July, 1996, published in the Gazette of India, Extraordinary, vide number G.S.R. 291(E), dated the 23rd July, 1996, namely:-
Long time back an eminent Chinese philosopher, Lao Tse Tung said, ‘Even a march of civilization starts with a single step’. The introduction of Indian Depository Receipts (IDR) in the global arena is that little first step towards a new era of Indian capital market. Needless to say, it is no more theory, but a blatant fact that in near future, India is going to be an economic super power.
The Real Estate (Regulation and Development) Bill is a pioneering initiative to protect the interest of consumers, promote fair play in real estate transactions and to ensure timely execution of projects. The Bill provides uniform regulatory environment to ensure speedy adjudication of disputes and orderly growth of the real estate sector. It will boost domestic and foreign investment in the Real Estate sector and help achieve the objective of Government of India to provide ‘Housing for All’ by enhanced private participation.
Chhattisgarh High Court held that Teacher of fully aided school is an employee within the meaning of Section 2(e) of Payment of Gratuity Act, 1972 and entitled for gratuity.
F. No. 279/Misc/52/2014-(ITJ) It has now been decided to extend this collegium system to also consider withdrawal of appeals from the high Courts where the same are no longer considered prosecutable. The collegium system existing in multi-CCsIT stations would be responsible for reviewing all appeals pending before the High Courts relating to the jurisdictional CCIT.
This act may be called the Integrated Goods and Services Tax Act, 2016. It extends to whole India. IGST applicable on all supplies of goods/services in the course of Inter-state trade or commerce. State includes Union Territory. However a supply of goods/services in the course of import in India shall be deemed to be an Inter-state supply. Supply of goods shall be deemed to take place in the course of Inter-state if the location of the supplier and the place of such supply are in different states.
Notices of defective returns were issued under section 139(9) of the Income-tax Act to Foreign Institutional Investors/Foreign Portfolio Investors (FIIs/FPIs) in cases where Balance Sheet and P&L account were not filled.
Central Board of Direct Taxes has simplified the process of online rectification of incorrect TDS details filed in the Income Tax Return. Taxpayers were required to fill in complete details of the entire TDS schedule while applying for rectification on the e-filing portal of the Income-tax Department (www.incometaxindiaefiling.gov.in). Errors due to incomplete TDS details in rectification applications were leading to delays in processing of such applications thereby causing hardship to the taxpayers.
