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Introduction of system-driven disclosures in securities market

December 1, 2015 1900 Views 0 comment Print

CIRCULAR No. CIR/CFD/DCR/17/2015, The first step would be to build an accurate database of the existing holdings at ISIN level of all the promoters / promoter group. The listed company through its RTA will be required to provide to the depositories the information about promoters and promoter groups of the companies.

CBDT formulated mechanism on TDS related issues of branches via Corporate Head Quarter

December 1, 2015 1508 Views 0 comment Print

Notification No. 3/2015 – Income Tax Stringent Authentication mechanism through Corporate Head Quarter Server for filing of Correction statements & download of TDS certificates, Consolidated files etc. by Banks/Corporates- regarding.

Agreement between India and Thailand for Exchange of Information with respect to taxes

December 1, 2015 3455 Views 0 comment Print

Notification No. 88/2015 – Income Tax Whereas, an Agreement between the Government of the Republic of India and the Government of the Kingdom of Thailand for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income was signed in Thailand on the 29th day of June, 2015 (hereinafter referred to as the said Agreement);

Writ Petition (Civil) for issuance of writ of certiorari is maintainable challenging order passed by Board of Revenue

December 1, 2015 3168 Views 0 comment Print

This petition under Article 226 of the Constitution of India has been listed for hearing on office objection regarding maintainability of the writ petition. An objection has been raised by the Registry that the writ petition filed against the order passed by the Board of Revenue

Determination of caste status can be done only by Caste Scrutiny Committee

December 1, 2015 6312 Views 0 comment Print

The Supreme Court in the matter of Madhuri Patil v. Commissioner, Tribal Development5 formulated scheme for verification of tribal status and held that any application for verification of her tribal status as a scheduled tribe should be carried out by such committee and issued direction for issuance of social caste certificate, their scrutiny.

Guidelines for handling and storage of valuable goods that are seized/ confiscated by the Department- reg.

December 1, 2015 3475 Views 0 comment Print

F.No.394/97/2015-Cus (AS) In terms of Section 110 of Customs Act, 1962 if the proper officer has reason to believe that any goods are liable to confiscation under this Act, he may seize such goods that may include valuables such as gold. In the recent past, the smuggling of high value goods, especially gold is on the rise, as evidenced by the increasing number of seizures made by Directorate General of Revenue Intelligence and the field formations

New Functionalities released under National Pension System

December 1, 2015 609 Views 0 comment Print

Pension Fund Regulatory and Development Authority (PFRDA) has been established by the Government of India for regulation and development of Pension Sector in order to protect the old age income security of subscribers. PFRDA takes various initiatives from time to time in order to simplify and improve the operational issues in National Pension System (NPS) like new functionality development under NPS architecture, simplification of account opening, withdrawal, grievance management etc.

Why taxes are required?

December 1, 2015 4328 Views 0 comment Print

Government needs resources to run the administration of the nation. Taxes are levied since the history of administration began with the rule of kings. It’s a system for collection and distribution of the surplus held by the rich to the have-not’s in the society.

ICAI President's Message – December 2015

December 1, 2015 4213 Views 0 comment Print

Dear Friends, The word bravery that was once associated more with people who had great physical strength and courage, is now meant for people who have courage-to respect others, their fundamental rights (right to equality and freedom, cultural and educational rights) and existence. Bravery is not just the act of daring to act, but also […]

Deemed Public Issues and way to avoid Penal Action : SEBI

December 1, 2015 2492 Views 0 comment Print

Post April 01, 2014, any offer or allotment of securities shall be considered as public issue if the number of offerees / allottees exceeds 200 persons in a financial year under the Companies Act, 2013 as against the cap of 49 persons provided in the Companies Act, 1956.

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