ICICI Bank, India’s largest private sector bank by consolidated assets, today announced reduction of interest rates by upto 30 basis points for home loans upto Rs 30 lakh in its bid to boost affordable housing in the country. With this reduction, salaried borrowers can avail home loans at among the lowest rates in the industry. Salaried women borrowers will get home loans at 8.35% and others at 8.40%.
September 15, 2016- Constitution of the GST Council The President of India constituted the “GST Council” vide F. No. 31011/09/2015-SO (ST) dated 15th September, 2016. GST Council can hold meetings and take decisions on various major issues such as Model law, rate of taxes, exemptions etc. September 16, 2016-Enactment of GST Amendment Act. All sections of Constitution (One […]
In continuation of circular No. 24 of 2016-17, wherein the process of grant of online registration was spelt out, it has been observed that a huge number of application forms for DVAT/CST registration are pending. It has been decided to complete this task in a bound manner and therefore, all the Assessing Authorities are hereby directed to dispose such cases on priority and clear all the pending registration cases by 31st May, 2017. The Zonal In charges will monitor the progress on these cases.
Being the nodal Ministry for most of the development and welfare activities in the rural areas, the Ministry of Rural Development plays a pivotal role in the overall development strategy of the country. The vision and mission of the Ministry is sustainable and inclusive growth of rural India through a multipronged strategy for eradication of poverty by increasing livelihood opportunities, providing social safety net and developing infrastructure for growth. This is expected to improve quality of life in rural India and to correct the developmental imbalances, aiming in the process, to reach out to most disadvantaged sections of the society.
It is hereby notified for general information that the organization M/s National Institute of Hydrology (‘NIH’) (PAN:- AAATN1385M) has been approved by the Central Government
The GST is likely to roll out on July 1, 2017. Given the cross-country experience and empirical evidence on efficiency gains from the Value Added Tax (VAT) in the Indian context, we conjecture that implementation of GST is likely to ensure higher tax buoyancy and an improvement in government finances over the medium term.
GST implementation brings several issues to the fore viz., determination of the revenue neutral rate, consensus on the divisible pool of resources, sharing the benefits of cesses, the administrative edifice and the technological platform. A dispute prevention mechanism would facilitate a smooth transition to the GST. The evolution in central transfers and evolving fiscal federalism […]
It has been held that ‘even though the expenditure is not admissible for the computation of the total income either as a bad debt or as an expenditure wholly incurred for the purpose of business, still, it can be allowed as an expenditure as a trading loss if it arises directly from carrying on the business and is incidental to the business.
Condonation of delay can take place only when the defaulting tenants so pleads with justifiable reasons which would show that he was prevented from compliance by circumstances beyond his control. The tenant has not offered any explanation for the delay in deposit of rents. Therefore, we do not find any justification to interfere with the order of the High Court.
Electronic commerce in general parIance is defined as transactions conducted over a digital or electronic network . Electronic commerce began traditionally as online retail in the stock and sell model. The traditional model worked like this- the inventory of goods/ category of services were displayed to the customer who could choose and pick the desired goods/ services in his virtual cart.
